updated: 7/30/2012 4:21:35 PM
Lemonade Day organizers say Indianapolis-area participants in this year's event generated more than $2.4 million and donated more than $800,000 to charity. The program is designed to teach children about entrepreneurship by helping them set up lemonade stands.
July 30, 2012
INDIANAPOLIS – On Saturday May 19th, declared as “Lemonade Day” by Indianapolis Mayor Greg Ballard, Lemonade Day 2012 participants opened up for business in local parks, shopping malls, supermarkets and in their front yards all over the Greater Indianapolis area. The weather was hot and sunny, ideal for starting a lemonade business. These budding entrepreneurs, pre-school to high school, turned a profit and learned valuable entrepreneurial skills and life lessons in the process.
This year, based on results surveys returned from families, a record 15,000 Lemonade Day participants raised an estimated $2.4 million and donated more than an estimated $800,000 to charity. As per the months of training prior to the event, the kids are encouraged to “spend a little” for themselves, “save a little” in the bank, and “share a little” with charities of their own choosing.
Championed by local inventor and entrepreneur Scott Jones, and presented by Teachers Credit Union, Ice Miller and ChaCha, Lemonade Day is a free Greater Indianapolis Area initiative designed to teach children how to start, own and operate their own business – a lemonade stand. Jones launched Lemonade Day in 2010 and set a national Lemonade Day record for the largest number of participants in a city’s first year: 7,400. Last year, 10,000 kids participated. Mayor Ballard and Governor Daniels have been great supporters since Lemonade Day’s inception. This year, the day before Lemonade Day, several kids were invited by Governor Daniels to set up lemonade stands on the Statehouse lawn to raise money for charity and to remind people to stop at a lemonade stand on Lemonade Day.
“When you think about the revenues these kids are generating in a single day, over $2.4 million, it’s incredible. To give this some perspective, Apple earns $1.6 million a day from its App Store,” said Jones.
“What’s more, these kids are learning that they can be both entrepreneurs and philanthropists. I’m very proud of the fact that they donated over $800,000 to charities of their choosing, rivaling one of Indiana’s largest black-tie fundraisers, Zoobilation. We’re not only inspiring the next generation of entrepreneurs but also the next generation of philanthropists.”
“I’m so incredibly proud of these kids – donating one-third of their sales to charity tells you something about the spirit of these kids and their parents,” said Mayor Ballard. “I can’t wait to see the talents these young entrepreneurs bring to Indianapolis in years to come.”
The Lemonade Day results below suggest these kids got a taste of success (and it was sweet!):
Total gross revenue: $2,409,480
Total # of glasses sold: 1,534,459
Total contributions to charity: $800, 863
Total # “man hours” worked: 63,851
Total # lemonade stands: 15,000
Average price charged per glass: $ .83
Average gross revenue per stand: $160
Average # of glasses sold per stand: 102
Average donation to charity per stand: $53
Average “man hours” per stand: 4.26 hours
(Note: in addition to lemonade sales, revenues include tips and other items sold at stands)
For more information, visit www.indianapolis.lemonadeday.org.
Source: Think Forward Foundation