Quinn and Kate’s Lemonade
Quinn and Kate’s Lemonade is a girl owned floating lemonade stand on Lake Union. While the girls think they are just selling Lemonade what we hope they are learning is how to work hard, run a business and give back. We run the lemonade stand like a real business. They received a loan to start the business that they need to pay forward in the form of Micro Loans to others wishing to start their own business until they have fully paid their loan forward. You can see who they have lent to and why and track their progress in their Blog. The girls are learning how to build with wood, paint, product testing, market research, marketing, inventory management, cost of goods sold, financial statements, customer service and most importantly confidence and giving. After paying for materials and paying forward the loan the profits are split evenly between. Giving. Investing. Spending.
We believe in giving back is best learned at an early age. The girls have spent time thinking about the causes that they are passionate about. After much discussion they decided they wanted to help people in need and animals and they found the Rainier Animal Fund. Which provides veterinary care for animals and their families that would not otherwise be able to afford it. In addition to giving money we believe giving needs to be accompanied by action. The girls are excited to volunteer at the Rainier Animal Fund. Please track our blog to see what they donate and how they get involved.
We believe children and most often girls do not learn about investing early enough. We hope to teach the girls about setting a goal, saving for that goal and the joy that comes from earning something. We hope to teach the girls principals of investing, compounding, financial risk and debt. The girls can pick any investment they feel will achieve their goal.
The cost to start the business was funded by the parents in the form of a micro loan. The girls need to pay that loan forward in the form of a micro loans using Kiva (https://www.kiva.org/)
The remaining profits will go into the girls spending account where they will be responsible for buying all the extras of life such as birthday presents for friends, treats or other extras. We hope they will learn about budgeting and financial responsibility.