07 Nov Sweet Lesson
As you go through life, make sure you keep your eye on the donuts, and not the holes! ~Unknown, but tasty food for thought for our readers
As we share insights with current and future entrepreneurs, we know that our readers have a wide range of industries. I wish to spotlight a sweet lesson as we celebrate National Donut Day this week, (the November 5th variety, but it happens again in June)!
This is the age of Grubhub and DoorDash, so buying food and reselling sounds innocent and entrepreneurial, yet restaurants may argue that it’s a concern for quality control. If someone is selling In-N-Out burgers without the chain’s consent for example, and you’re not happy with your food (or even get sick), this could negatively affect In-N-Out’s reputation, in theory. (Yes, In-N-Out actually sued DoorDash for reselling its food back in 2015.) Here’s something else that can negatively affect your reputation: Killing the business of a college kid who’s just trying to make some money to pay off his student debt—which is why Krispy Kreme has decided to change its tune and is now partnering with a 21-year-old student from Minnesota who was driving hundreds of miles to resell the chain’s doughnuts!
Just how much would a Krispy Kreme fan pay for a dozen donuts?
College student Jayson Gonzalez learned the answer earlier this year when he discovered an unexpected business opportunity: Minnesota residents desperately want Krispy Kreme donuts, even though there aren’t any stores nearby. They were so desperate that they were willing to pay about double the retail price for a box of a dozen.
Gonzalez started making weekly drives to Clive, Iowa, about four hours each way, in order to satisfy the need. He would buy around a hundred boxes (of a dozen donuts each) to resell on the way back.
You would think Krispy Kreme would applaud Gonzalez’s spirit of entrepreneurship, not to mention the fact that they were selling an additional 1,200 donuts every week to customers outside its normal area of operation.
At first, Krispy Kreme contacted Gonzalez and told him to shut down. Find out what happens next for a Masterclass in emotional intelligence:
Flex your own emotional intelligence and professionalism as well:
Get your playbook/notebook out and write down 5 ideas that come to mind on ways to serve a need that it not being met.
Keep your mind open as you decide on partnerships on your path as an entrepreneur.
(Also, I grew up in Minnesota, so perhaps I’ll bring my family and friends this sweet treat for Thanksgiving!)
Thank you for reading and express yourself in the comments below.
Akasha Garnier for #TheWishwall
Author, Brand Expert, Filmmaker