NEW YORK, (PRNewswire) – What better way to teach your kids
about money and business than helping them launch their first lemonade
stand. To start building the entrepreneurs of tomorrow, Inc.com today
announced that it is hosting its first ever “Best Lemonade Stand in
America” contest for kids ages 5 to 12. The grand prize winner will receive a $1,000 savings bond.
The editors of Inc.com are asking all promising future Inc. 500-CEOs to
submit digital photos of themselves and their lemonade stands along with a short essay describing what it’s like to run a really small business.
Essays will ask each kid-trepreneur to tell Inc.com about their “business,” including what motivated them to go into the lemonade trade, what they named their stands, what products they used in their secret recipe, and how much money they made in a single weekend. Entry forms are available at http://www.inc.com/lemonade
The contest will run through July 30, 2006. Readers will be able to
view all photo and essay submissions and vote for their favorite at
http://www.inc.com Inc.com editors will pick the final winner and post
online on August 15, 2006.
Grand prize includes a $1,000 college savings bond, first runner up
will receive a $500 savings bond and second runner up will receive a kid-
trepreneur-supplies super backpack ($200 value).
To help kids get started, Inc. magazine Senior Contributing Editor Norm
Brodsky provides the following tips for starting and running a great
lemonade stand.
10 Tips for Creating the Coolest Lemonade Stand Ever
1. Get Help. Don’t do all the work yourself.
2. Make a Deal with the best architect in town to design your stand.
3. Make your stand different from the rest.
4. Ask for money from your parents to build and run your stand.
5. Set up a location with a lot of foot traffic.
6. Don’t Skip on Quality. Buy the best ingredients — and let your customers know about it.
7. Charge a lot. You have a high quality lemonade — why not charge for it.
8. Diversify. Sell more then just cookies.
9. Learn from Your Mistakes, that’s how lemonade champions are made.
10. Leverage People You Know. Have a photographer take a picture of your stand.
Yahoo Finance and AOL Money & Finance will be promoting the Lemonade
contest as part of a special edition that includes links to contest entry
pages.
(Inc.com)
