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Transcript of Krispy Kreme
Boom, Bust, and Beyond? Birth Boom Benevolence Bust Beyond? Doughnuts are
snack food It's all in the recipe Mistembec hoc modo fit: accipe de pastatritici lavata, quantum voleris, et aliquantulum de amido in aqua tepida dissoluto; de quo distemper predictam pastam ut fiat ad modum sorbitii; et facias descendere per scutellam in fundo et in latere foramen habende, et fac descendere in oleo fervido vel sagamine porci, diversas formulas ad placitum pertrahendo. Quibus per decoctionem induratis, et ad hoc calidis existentibus, proice in syrupo de zuccaro aut de melle facto, et protinus remove. Mistembec is made thus: take as much risen wheat dough as you wish, and a little starch dissolved in tepid water; with this, thin the dough to the consistency of sorbet. Put into a dish with holes pierced through its bottom and sides, and drop it into hot oil or pork fat in various shapes as you please. When they are cooked and crisp and still hot, put them in syrup made of sugar or honey, and remove them immediately. Milk Eggs Flour Sugar Yeast Potatoes (Yes, potatoes) Quality products begat quality products Our hero: Vernon Rudolph "Why not Winston-Salem? A town with a company producing a nationally advertised product has to be a good bet." - company legend All it takes is $300 and a dream. And a recipe from a French chef. And a company name. olykoek beignet sufganiyah Berliner pączki malasada 1976: bought by Beatrice Foods
1982: leveraged buyout by
2000: went public on NASDAQ
2001: switched to NYSE 2001: Rochester, NY
store opens 2003: Syracuse, NY
store opens 2004: Albany, NY
store opens 2004: publication of "Making Dough, The
12 Secret Ingredients of Krispy Kreme's Sweet
Success" 2002: First Canadian
store opens Promote from within Train your people well Dedication: Joseph McAleer, who rallied franchisees
to buy back the company from Beatrice Foods, started at Krispy Kreme earning $1/hour and working 120 hours/week. Treat your employees well Treat your customers well Know yourself Know your customers Know your market It's all about the doughnut Cheers for corporate culture Jeers for accounting practices Strategic plans in action