When Life Gives You Lemons

Lemonade StandThis past Sunday was a very hot day here in Dallas, so what better time to have a refreshing cold drink.

Fortunately, my next door neighbor gave me the scoop on some great lemonade stands being set up in multiple locations around the city. I learned that these stands are part of National Lemonade Day. National Lemonade Day is a program designed to teach kids the skills necessary to start, own and operate their own business. Which in this case is the obvious—a lemonade stand.

Kids register via the organization’s website http://lemonadeday.org/ and with the help of a mentor, such as a teacher or other adult volunteer, are taught a program of 14 lessons on entrepreneurship. Then they open their own lemonade stand.

My understanding is that some of the kids have investors that contribute capital that is paid back out of the sale proceeds and the stand operators have to learn to plan, budget and set prices for their lemonade. The city and businesses provide stand locations and encourage customers to go visit the stands.

This is a great program for youth, and many schools don’t have the resources to offer curriculum of the nature. Next year I may volunteer to help, but for now I am going to ride my bike over to Trinity Groves and get a cold glass of lemonade.

JamesMathisJames Mathis, managing partner of Echelon Investment Management, believes in enriching his clients’ lives by identifying, preserving and achieving their goals. Echelon partners with clients through every leg of their race ~ asset management, investment advice and retirement planning. Contact him at james.mathis@echelonim.com.

Disclaimers: The ideas presented here are for illustrative purposes only. This does not reflect the performance of any specific investment. It should not be assumed that past performance in any way relates to future results. The information herein has been derived from sources believed to be reliable, but this is not a guarantee as to the accuracy and does not purport to be a complete analysis of the security, company or industry involved. An investor should consider, before investing, whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s 529 college savings plan. 529 plans are subject to enrollment, maintenance, administrative and management fees and expenses. Non-qualified withdrawals are subject to federal and state income tax and a 10% penalty. Please consult with your financial advisor and tax advisor to determine the strategy that best suits your individual needs.

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