Last year, when 10-year-old Myah Kapavik sold two different types of lemonade at contrasting price points at her lemonade stand, she ran into a supply problem.
“We kind of assumed that the lower price point, the standard lemonade, would sell a lot more and we got it totally wrong,” said Myah’s father, Brian Kapavik. “We sold out of the premium and didn’t have enough to go around,” he said.
This year, they’re making more of the premium version.
That business strategizing is precisely the goal of Lemonade Day, a national program last Saturday that aims to teach children about entrepreneurship through the creation and management of their own lemonade stands.
This year, 93 stands were planning to set up in places like Leander, Round Rock and Bee Cave. Still, with the recent whiplash of weather conditions, it was uncertain how many stands were able to open last week.
Plans to open Myah’s lemonade stand on Saturday were almost postponed due to severe thunderstorms in Round Rock, where she and her father originally planned to set up shop. Yet, the stand was ultimately able to open with a last-minute location change to the Urban Air Trampoline and Adventure Park in Cedar Park.
Though Lemonade Day is a nationwide program, it is up to cities to choose to participate and it wasn’t until last year that the West Austin Chamber of Commerce decided to join in.
“I was looking for what’s business related that we could do that’s kid and family focused as well, and I was doing some research and came across Lemonade Day,” said Morgan Briscoe, President of the West Austin Chamber of Commerce. “I’m kind of an entrepreneur at heart, so I was excited to do it,” Briscoe said.
The program provides children who sign up with a short curriculum covering topics like budgeting, saving, and goal setting. It comes in the form of a small booklet, but participants can also attend an optional class.
In addition to the two types of lemonade on the menu at Myah’s stand, one made mostly from a powdered mix and the other a strawberry limeade created from scratch, she also sold homemade cookies. The recipe “has been passed down for generations,” Myah said. “We’ve been loving it for years.”
Though sales were initially slow, at closing time Myah, who last year was named Lemonade Day’s Entrepreneur of the Year and lives in Cedar Park, had made around $58 in sales and $25.50 in tips.
Children who participate get to keep the money they make, and Myah’s earnings would be split between a 25 percent donation to the Society for the Prevention of Cruelty to Animals and the rest would go towards buying a dog.