Krispy Kreme donuts and coffee shops are loved all over the world. Even now Krispy Kreme has become the standard of donut delicacy, no longer Dunkin' Donuts.
Krispy Kreme Donuts, Inc. was founded in Winston-Salem, North California in 1937 by Vernon Rudolph. He bought a recipe for donuts with yeast from a famous chef in New Orleans.
Today, Krispy Kreme products are sold in corporate and franchise outlets as well as in convenience stores, supermarkets and gas stations. What's interesting about the interior of the Krispy Kreme outlet is the mass-produced display with a donut making machine. There is an element of education and showmanship there.
Krispy Kreme experienced ups and downs but became popular in March 2009, the SEC removed Krispy Kreme from the listing on the grounds of inflating revenue and various unethical activities to boost turnover. After being kicked out, Krispy Kreme introduced the Cheerwine soft drink which was quite successful.
In addition, the Krispy Kreme Express delivery car was introduced in North Carolina. Outlets with tunnel ovens produce “always hot” donuts that consumers love.
As a private company, Krispy Kreme is now focusing on accelerating global expansion, leveraging the latest technology (app and web), updating the menu (various donuts and coffee variants), and increasing brand awareness. So, what about Krispy Kreme in the future? Supposedly, the three things below are carefully considered so that success is always at hand.
First, credibility and accountability.
This is paramount in running any business, whether private or public. Honesty of the facts at hand provides the best feedback for learning for progress.
Second, identify the elements of business cannibalism itself.
Not all forms of "expansion" necessarily bring positive results. There are also those that can result in losses. Remember the uniqueness of the product and what consumers really expect.
Third, know the trend well.
Business models need to change if consumer behavior has changed. Remember that past results are not a guarantee of future success. And this applies to all businesses, not just finance.
