Seattle kids get excited when they earn their first dollar and start to build their business experience at their first lemonade stand.
While some families teach their children about money using an allowance, Lemonade Standers teaches kids about how business and money work through play and games. And by practicing through the games, they also build important skills like strategic thinking, problem solving, and collaboration, that will serve them throughout their lives.
Julie (Hecker) Bennett and Emily (Hecker) French are the co-founders of Lemonade Standers, and they also happen to be sisters. “I like to say that Emily has always been following in my footsteps,” Bennett said. They grew up in Idaho and both ended up moving to Seattle with Boeing after earning their bachelor’s degrees. Once here, they each met and married Boeing men, earned their MBAs from Seattle University, and started their families. Bennett is a mom of three and French’s third child will be born soon. It seemed only natural that they would go into business together and teach their kids the tricks of the trade.
Guided by the research that shows that it takes repetition to teach a person a new skill, they believe it is important to give children early exposure to money and financial literacy. “Our approach is based on the idea that if we give kids experience earning and working with money at an early age, they will start to build financial literacy’” Bennett said.
Lemonade Standers co-founders Julie Bennett (right) and her sister Emily French stand by their children’s lemonade stand in Magnolia.
Lemonade Standers uses business to connect the classroom learning to real life. Using the familiar concept of a lemonade stand, they teach kids the basics of how money works. “Our big purpose in this work is that we want children to grow up and have the skills and confidence to achieve their highest potential,” French said.
After piloting their curriculum in the afterschool program at Greenwood Elementary earlier this year, they are ready to bring Lemonade Standers to a wider audience. Starting on July 22, Lemonade Standers is hosting a free 5 day Learn to Earn Challenge. It is a virtual mini-camp designed for kids ages 5-12 to earn their first dollar. Sign up at LemonadeStanders.org/first-dollar-challenge.
The Learn to Earn Challenge will feature a short video and an activity or game each day. The daily topics are designed to build upon each other. Kids will be guided through developing ideas and getting ready to put them into practice. And grownups will receive a video lesson and game that complements the children’s experience. They can all learn together while the kids build their confidence.
The sisters are hoping to bring the Lemonade Standers program and the financial skills it teaches to more kids by working with the public schools. French stressed that the students will also be building the skills of problem solving, connecting with others, grit and resilience. “Running a kid business creates a great avenue to build all those skills together while fostering their creativity,” French said.
While kids are waiting for Lemonade Standers to make it to their classrooms, they can watch for the upcoming Lemonade Standers book by Julie Bennett or Emily French’s Lemonade Standers board game. And after that, they will be looking to adjust the program so that they can serve kids age 13-18 as well.
More information at LemonadeStanders.org