Here is something fun.
So two girls decide to set up a lemonade stand. Their goal is to sell lemonade for a certain price. As the parent of one of these entrepreneurial spirits, I of course was asked my input.
Question 1: So if we want to sell store bought cookies, can we?
Answer: Well, technically no, but you COULD mark up the price of your lemonade and provide the cookies as a free complement (not to mention, that the label says “not for individual sale”). I am still trying to think of how ridiculous it is to tell girls they can’t sell cookies
Question 2: One of us thinks it should cost .15 a cup, the other .25 a cup. Which one of us is right?
Answer: While it is likely that most people won’t have cash or change, your best bet is .25. Why, you ask? $1 is four sets of .25. People are more likely to buy when the math is easier.
Question 3: What do you think a good amount is to earn, since we are raising money for the Leukemia and Lymphoma Foundation?
Answer: Forget my other answers. Ask for donations, leave a few dollars in the cup to make it look like you aren’t making a lot, and make sure that you don’t keep any change in the jar. You’ll make more.
People are more likely to donate more, when a price isn’t set.
As an aside, can you imagine if all kids between the ages of 6-12 set up lemonade stands to raise money for Leukemia treatment and cures? In a few hours, they made $23. That’s good stuff.