Mayor Martin J. Walsh attended a workshop on Wednesday, helping kids build lemonade stands to prepare for Lemonade Day Boston. The event aims to teach young entrepreneurs business skills by helping them run lemonade stands. We asked readers to weigh in: How much would you pay for a glass?
For the most discerning of Boston’s lemonade stand connoisseurs, a variety of factors must be considered in determining price. First, there’s overhead. Vendors need to consider the price of ingredients, cups, construction costs for the stand, and possible employee payment.
Then there’s competition. How much are the kids across the street charging at their stand?
Quality should also be taken into consideration. Several potential consumers said they would pay more for freshly-squeezed lemonade than a beverage made from mix or poured from a carton.
So what should young concession stand entrepreneurs charge in Greater Boston? When we asked our readers, we got a wide array of different answers. We broke down costs – some realistic, some absurd – and explained why each could be a good (or bad) idea.
2 pennies and a nickel: That’s what I charged when I was a lad!
25 cents: Selling lemonade on the cheap incentivises generous tipping. Right? Right?
50 cents: Most readers seemed to think a half-dollar would be reasonable. Does that account for inflation?
$1: Who wants to fumble around with change? Make the kids’ day and give ’em a crisp Washington.
$3.75: That’s what Starbucks charges, right?
Nothing: It’s not about the money, it’s about the experience.
There you have it. Now when Little Johnny tries to scam you with $2 lemonade, you can explain to him exactly how he’s ripping you off.Reach me at email@example.com. Follow me @josephdussault.