On Sunday May 3, America will likely set a record for the most new businesses launched in a single day. Why? Because it’s Lemonade Day!

Lemonade Day is a really cool annual event that teaches young people about entrepreneurship by helping them start, own and operate their own lemonade business.  On Lemonade Day — the first Sunday in May — tens of thousands of budding entrepreneurs set up their lemonade stands, providing a terrific opportunity for local businesses and families to join together to train the next generation of American entrepreneurs. 

In Houston, TX, where the event began in 2007, organizers are expecting an astounding 25,000 or more new lemonade businesses to launch on Sunday.  And Lemonade Day has started spreading to cities and counties across the country, including Minneapolis, Austin, Wayne County (Indiana) and others.

The Houston event has been wildly successful. An estimated 2,600 stands sprouted in 2007; about 11,200 in 2008, and this year’s total will far surpass that.  Local businesses, schools and community groups all get involved to make it happen, and the event is sponsored by Prepared 4 Life, a non-profit that supports youth programs to build life skills, character and entrepreneurship.

There are so many great things about this program it’s surely destined to blossom nationwide in future years.  Any child can participate (with an adult who agrees to supervise). Kids register online and can download a special entrepreneurs workbook that teaches them about budgets, securing investors, choosing locations and advertising.

The Kidpreneurs keep what they earn — that is, of course, after they cover their expenses and pay back their investors.  The event also raises funds for after-school programs, and teaches the kids how to open a savings account to put the business earnings to work.

As the slogan says, Lemonade Day is “Building the American Dream…one lemonade stand at a time.”