Starting a Donut Business
Need Money for Your Business?
I found this really cool website where you may want to get funding for your fledgling donut business, it is a peer to peer loan network... I like to compare it to the Ebay of Loaning Money...It is a VERY cool concept.. Watch the video for a tour of the site. If you are looking to finance your donut venture but have been turned down by banks, this may be a viable option for you.... Definitely worth a shot without all the hassle!
Click Below for the Website I'm talking about in video
Selling Donuts – Email from Someone who is actually doing it
This is part 2 of the email I received from the concession vendor who sells everything from donuts to ice treats. He gives some advice on where to respond to ads and mentions a website that he uses and had success with. If you are interested in the selling your donuts concession style, you really owe it to yourself to check out the site mobile catering business... don't let the word "mobile catering" confuse you, it is just another way to say concession business.
Here is part 2:
Thanks Dave for all the first class advice you have given to me and our readers. Looks like you really know this business! Be sure to visit tomorrow for Part 3 of his email. Yes, it is quite an extensive email, thanks again Dave!
Mini Donuts are PERFECT for Concession Stands
The easiest way to make a profit is to choose selling concessions with low overhead such as mini donuts. These offer a fantastic opportunity to create easy, fun and favorite food for fairs, festivals or anywhere else hungry people are in abundance. Selling concessions with low overhead like mini donuts require very little start-up capital and are quite simple to run.
You will first need to create a business plan including short and long-term goals. Update this as necessary and allow it to guide you. Then you will want to determine the most profitable location. Also, if you happen to be able to travel any type of distance, you can consider taking your concession stand to regional or state fairs.
Even though selling concessions with low overhead are simple, you will still want to compile market data consisting of analysis and trends of the mini donut business. The easiest way to do this is to observe your competitors including set up and pricing. Chances are, you won't be the only stand selling mini donuts so keep your pricing competitive. Also, always be looking for any new industry developments.
Mini donuts are considered selling concessions with low overhead because they require a minimum amount of inventory. All you need to keep in hand is enough to meet demand. It is helpful to evaluate statistics including the average number of attendees where you will run your concession, this will help you determine your inventory needs. Supply companies can often help provide insight as well.
Even though mini donuts are labeled selling concessions with low overhead, it is still important to properly train yourself and your employees to reduce inventory loss and also guarantee happy customers.
Be sure to obtain proper insurance, you need to protect your funnel cake business and consider the safety of your employees and customers.
Mini donuts are the perfect food if you want to open selling concessions with low overhead. Your fryers are generally the most costly expense but there are also start-up packages that are available from concession stand suppliers.
We Added a Forum
We added a forum to our blog! You can now talk to others who are interested in the Donut Business. We will be talking about everything from the best places to start a donut business to the equipment you will need.... We hope everyone will participate, whether you are a newbie or have your own donut shop. Everyone has something to share. You can access the forum by clicking on the tab above or by clicking MyDonutBusiness.com Forum.
Happy Belated Donut Day and Update on What We Are Doing
Happy belated donut day everyone.... here is a video update of what we have been up to and where we are headed with us....
Be sure to check out MyConcessionBusiness.com
Doing it Small or Going Big
Do you want to have a small business or do you want to go big? There is basically two things you can do when starting a donut business, you can start small or start big. When you start small, you buy a basic donut making machine from someone, set up at a church or local event, perhaps even a fair or festival. You could travel around to different places close to your area and probably do very well. It would not take very long for people to fall in love with your doughnuts. People fall in love with your doughnuts if you have a good recipe and they follow you, and perhaps tell their friends all about you. You could even set up little doughnut boxes in local businesses.
If you do not want to start small and you have the capital and resources to do so, you may want to go big and buy into a donut franchise. There is an enormous amount of capital required in order to start a donut franchise as you can imagine. The rewards can be great plus you have the backing of someone who is experienced in the industry. This experience can be very valuable as you work your way through the business. You do not have to worry about trial and error, making mistakes as they have your back. I personally was always leery about franchises in other industries. I had once thought about opening up a cleaning business using a franchise system. But luckily I was talked out of it. If I was not talked out of it could be several thousand dollars in debt to this day. Thank goodness I never went through with it that started it on my own. We have a blog about that as well you may want to look into it.
Look up donut franchise on the Internet and you will see several resources regarding this industry. Be sure that you have your financial house in order though, because it will be required in order for you to sign on the dotted line. This is pretty much the case with all franchises, you need to have your financial house in order. You can most definitely make it without a franchise, sometimes it may be even better.



