LDB program is Babson’s signature effort as a community resource for Boston’s educators and youth advocates. Students are engaged in experiential learning as they receive entrepreneurship instruction every spring in schools, after school programs and with mentors. Our young Lemonade Day students not only learn the step by step process of starting a venture, they act— developing business plans, marketing strategies and securing financing for their businesses. On the first Saturday in May, the Mayor’s Office welcomes students to launch their businesses in neighborhoods throughout the City.
Lemonade Day entrepreneurs also learn about stewarding their resources and are encouraged to save, spend and donate a portion of their profits. Last year, LDB youth donated more than $2,000 to local charities including Angell Memorial, Boston Children’s Hospital, Cradles to Crayons, Boston Fire Department Fund and Project Bread.
In 2013 & 2014, Lemonade Day Boston administered a curriculum and experience survey to participating organizations to assess measurable achievements of the students in the program. Based on the Search Institute’s 40 Developmental Assets and the Massachusetts Core Commitments, the survey asked program directors to rate the impact of the program on their students in three areas: Personal Skills, Financial & Mathematical Skills and General Impact.
Our partner surveys illustrate that the LDB curriculum promotes financial literacy, creativity, goal setting, leadership and resourcefulness in Boston youth. While launching a real-life business venture, confidence is fostered participants report feeling “pride” and “accomplishment” while seeing a project from inception to completion.
Most Important Lessons include:
…that “the students received the experience of working on their own business, counting money and having a real life work experience. They will always remember that they helped make money for their classroom.”
“I also was amazed at how well the students did with the mathematical exercises involved in calculating the cost of the lemonade.”
“Students realized how hard and complex it is to start a business. They started out thinking it would be easy but as the tasks grew so did the complexity… in the end I think that each student had a greater appreciation and knowledge of commerce.”
Most Important Lessons include:
“…students learned to open up to others that they weren’t necessarily friends with prior to this experience. Watching the students realize other students’ talents and similarities was amazing.”
“I was amazed at how well my students worked together to juice the lemons (we had a lemon squeezing party the afternoon before the selling the lemonade), set up the stand, mix the lemonade, and then sell the lemonade. I had a great of boys who can be problematic in class. They made advertising sandwich boards and were so pleased to be able to wear them in the school lobby the night we sold the lemonade.”
“The whole program teaches so many valuable lessons. Seeing a project through the learning phase all the way to completion is very impactful. The learned so much.”
“I think they all learned that it is possible to start their own businesses if they work hard, plan well, and see their product through to the end. They all got excited about making their own product and sharing it with the community.”
“The amount of hard work that goes into planning, but the payoff that can results when this hard work and planning is completed.”
“We partnered with the Boston Fire Department and they came out to support our endeavor this year. The pride the students had once we counted their earnings was priceless.”