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Lemonade Stands: Tips To Help Make Your Kid's Stand The Best

Tipslemonadestand

First Posted: 08/05/11 04:27 PM ET Updated: 10/05/11 06:12 AM ET

Some things are summer cliches for a reason.

Lemonade stands aren't just a great way to embrace the August heat, but they can also teach your kid how to be a Mark Zuckerberg-esque young entrepreneur.

Just take it from Norm Brodsky, who has founded six successful businesses and is a bona fide lemonade stand expert to boot. As the judge of Inc. Magazines' best lemonade stand in America contest, Brodsky has seen everything from lemonade stands on wheels to stands that can make upwards of $300 in just one afternoon.

"The idea of lemonade stands is not just to create a cute thing in the neighborhood, but it’s a way kids can go out and learn (and earn) things for themselves,” Brodsky, columnist and senior contributing editor to Inc. Magazine, told The Huffington Post. “They not only learn where money comes from, but they understand what goes into every dollar they make.”

According to Brodsky, setting up a lemonade stand isn't much different from starting any other business. You have to be strategic, creative and know how to use the resources that are available to you.

Here are some tricks that Brodsky has gathered from judging some of the best lemonade stands in the country:

Pick The Perfect Spot
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According to Brodsky, "The rules of real estate are the same as the rules of lemonade stands: it's all about location, location, location!" While it's easy to set up shop outside your house, your business is going to be limited to thirsty neighbors. Go to a busy street corner or look up if there's a local baseball game -- pick a place with a lot of street traffic.
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