NEW YORK (WCBS 880) - Who knew?! There is actually a National Lemonade Day! It’s the first Sunday in May.

Behind it is Michael Holthouse, who thought it was the perfect way to introduce kids to the idea of owning their own business.

LISTEN: WCBS 880′s Pat Farnack with Michael Holthouse

“When you tell someone we’re teaching youth how to start their own business with a lemonade stand, first, everybody smiles and second, they nod their head. The earlier we introduce youth to concepts around business, it literally changes their trajectory in life,” says Holthouse.

WCBS 880 midday anchor Pat Farnack asked, “Wouldn’t you say, also, it’s sort of like returning to American basics because so many kids are sitting at home behind the computer these days?”

Holthouse replied, “You just couldn’t be more right. It helps us get the whole community thinking about buying lemonade on that day, which does wonders for the revenue stream of these new entrepreneurs.”

So, make sure you pick up a glass of lemonade on May 1. You might just be buying it from the next Bill Gates.

Learn more at the official Lemonade Day website HERE.