What do you need to run a lemonade stand? Water, sugar, lemons and cups are a given—but what about a business plan?

Lemonade Day was started 20 years ago by community leaders who wanted to teach elementary and middle school students the basics of running a business. Cleverly, they latched on to a kid’s rite of passage—hosting a lemonade stand. Today, the nonprofit has 100-plus licensed markets across North America and has helped more than one million youth acquire the skills and knowledge necessary to become successful entrepreneurs and thriving adults.

Cadence Bank’s involvement began in 2016 and uses its relationships with the Boys & Girls Clubs of America and local schools to serve as mentors to groups of children participating in the experience. This year, our mentors worked with more than 500 youth in 13 cities within the bank’s footprint across the Southeast and Texas.

Cadence sweetens the pot

Cadence also sponsors the Youth Entrepreneur of the Year contests in Houston, Texas, and Mississippi's Golden Triangle (Columbus, Starkville and West Point). Teammates and Lemonade Day staff decide the local winners, who then advance to the national contest. The winner is announced in November during National Entrepreneur Month.

“As bankers, we’re passionate about teaching financial literacy, because today’s kids are growing up in a world where conversations about money, credit, budgets and student loans happen all the time.”

Charles Kim

“They need to understand money and how to manage it, because when you manage money well, good things can happen,” said Charles Kim, community development relationship manager at Cadence Bank in Houston. 

Lets kids see themselves as leaders

“Lemonade Day teaches future business leaders how to set goals and work to achieve them,”  said Joshua Thaggard, senior vice president and senior relationship manager with Cadence Bank in Birmingham, Alabama. “It’s fun to see them blossom as they progress through the curriculum and open their stands.”

Kids make all the decisions impacting their stands’ success. Some sell multiple flavors of lemonade, while others sell cookies and treats along with their lemonade. Some burgeoning tycoons even make sponsorship deals with local businesses.

“By running their own stand, kids learn valuable skills like budgeting, time management and how to work with others,” commented Kim Gross-Turro, Cadence Bank executive administrative assistant in Atlanta, Georgia. “The experience boosts their self-confidence, and many kids walk away with a positive view of the future and what’s possible if you work for it.”

Thirsty for more? Visit our community commitment page to learn more about ways Cadence Bank is involved in its communities.

This article is provided as a free service to you and is for general informational purposes only. Cadence Bank makes no representations or warranties as to the accuracy, completeness or timeliness of the content in the article. The article is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.