The Evolving Business of Doughnuts

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Donuts are a multi-billion dollar industry fueled by insatiable demand. The United States is the battleground between chains and mom-and-pops. It’s on the West Coast where the market has gone through the greatest evolution - donuts here are a canvas for gourmet ingredients, unorthodox flavors, and elegant decorations. In this Modern MBA exclusive, we’ll break down the business of donuts from the lens of the biggest chains in the world in Dunkin’ and Krispy Kreme. We'll then dive behind-the-scenes of 2 West Coast shops looking to disrupt this status quo.
Mikiko Mochi Donuts is one of the hottest donut shops and a pioneer of mochi donuts in the state of Oregon. Owner Alex McGillivray is a progressive owner who is as much a donut connoisseur as he is a shrewd restauranteur. In 4 years, Mikiko has gone from an idea to the leading shop in Portland with a second store underway in Beaverton. / mikikomochidonuts
As the doughnut capital of the USA, Los Angeles is where the opportunity is the greatest. In LA, desserts like cupcakes and donuts have been elevated into upscale indulgences. Owner Peter Womack has just opened Lola's Doughnuts - selling artisan yeast donuts with organic gourmet ingredients and elaborate toppings. Peter makes everything from scratch by hand, every morning at 3AM. He uses the recipes he’s honed over the years at various shops around the country.
/ lolasdoughnuts
Even in the world of donuts, product is not everything, passion is no indication of success, hard work is not a moat, and being good at your craft and being good at business are two different things.
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28 май 2024

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@ModernMBA 16 дней назад

Visit NetSuite.com/ModernMBA to sign up for their one-of-a-kind flexible financing offer Get 20% off DeleteMe US consumer plans: joindeleteme.com/ModernMBA Use promo code MODERNMBA 0:00 Make Today Special 0:41 Sponsor Break (NetSuite) 2:26 America Runs on Dunkin' 8:12 Japanese-American Fusion 19:44 Handmade Artisan Luxury 30:47 Sponsor Break (DeleteMe)

@WhatWillYouFind 15 дней назад

Mikiko has the old pre-tech boom no nonsense business plan. Make a great product, stay lean, but also pay workers well to invite a sustainable business. We need this all across the world.

@Bipolar.Baddie 14 дней назад

How are we going to enrich hedge funds and faceless shareholders with that business model? What's next; not letting banks gamble with people's life savings?

@dlb8685 13 дней назад

I hear you. But I can’t help but think what happens 10 years from now? Those kinds of margins are like chum in the water for other entrants. It seems like a great business and great guy and I wish him luck, but what he’s got is very hard to sustain for years or decades.

@smileyeagle1021 12 дней назад

@@dlb8685 I can't help but thinking that a lot of the other entrants are going to shoot themselves in the dick by focusing just on what margins they can get rather than how they can provide the best product and service. They'll mostly be a flash in the bucket, while the places like Mikiko that focus on quality product and service first will stick around.

@Fister-kw5un 12 дней назад

Slow down, cowboy. How many Cambodian donut stores were closed by Mikito? I like my donut store serving me to be immigrants, not locals, cause it’s how it was when I was a kid.

@michaelmao1988 12 дней назад

lol I love how a donut shop is compared to "old pre-tech boom"

@MentalHelp. 16 дней назад

Not putting in chairs so customers don't lounge all day is WILD when you're NOT getting customers

@khueleminh5262 15 дней назад

Like fr

@willashley23 12 дней назад

Yeah, that part really threw me for a loop. He should be desperate for customers, especially ones that will stick around and maybe place more than one order. I wonder if he's dogwhistling about homeless people her - it is LA after all. That's the only kind of guest you would not want lingering around.

@eetadakimasu 11 дней назад

There's also things he can do to keep people moving, like put in more bar seating, but the parents and nannys won't bring kids in to eat gourmet doughnuts if they can't sit and take a load off!

@AltimaNEO 5 дней назад

Homeboy might be a artisan donut baker, but he comes off as a terrible business man. Setting up in a mall? Farmers markets? Come on man! Gotta cater to kids and soccer moms. Pump out dozens of donuts that people take to kids sports games on weekends, teachers bring em to school for kids, etc. Hes missing out on a lot of sales by trying to sell individual frufru donuts at ridiculous prices.

@eetadakimasu 5 дней назад

@@AltimaNEO exactly! You can go elite, high-end on a store after you're successful

@gabys2 16 дней назад

I have had many delusional ideas in my life, but thankfully selling luxury donuts with 12K+ monthly overhead in a space with no furniture has not been one of them. Sad thing is I bet Peter makes some killer doughnuts.

@chikkin.salad.sandwich 16 дней назад

How much you wanna bet he's got rich parents footing the bill for this nonsense

@benverboonen1108 15 дней назад

It's because you're not the target audience lol

@GlamGoddes101 15 дней назад

The donuts looks good, he only has the the basic donuts in the display case though

@jadenpark7943 15 дней назад

hopefully now that modern MBA did fantastic commercial for lolas doughnuts, maybe more people viewers in LA will go n buy to see if taste good as they look

@Soosss 15 дней назад

@@benverboonen1108 he moved out from the mall, seems the target audience didnt care much

@sweetpeach3 16 дней назад

As soon as I saw he decided to rent in a mall, I knew it was doomed. $12,000 a month rent for an old frozen yogurt shop where he can’t even cook in his own shop?? That’s a terrible idea.

@TheRedfuss 16 дней назад

Found out online he made the same realisation and has left the mall to reopen somewhere else

@spicy_xinger 16 дней назад

Ya it’s crazy how everything has to be made offsite and transported by car. Doesn’t seem like any location is worth that extra step

@NuncNuncNuncNunc 16 дней назад

@@TheRedfuss Not sure he's still in business. The facebook address is a shared kitchen. Website points all over the place and fake phone number.

@azncindyvu 15 дней назад

I live close to this mall. There’s also a mochi donut shop in the same mall

@Ph34rNoB33r 14 дней назад

No idea how well malls work there, here they are initially hyped, mostly for the investors. They lose renters, adjust rent, get new ones who still cannot make profit, now like 1/3 to 2/3 of the stores in many malls are empty, with some printed front looking like an actual store (it's still just an image, so it looks weird as it cannot change perspective). Mostly chains like MakuDo survive. But the initial investors got their money and sold their share to others. I wouldn't want one of their contracts, with specified core opening hours, or if you are a bakery they might require you to have 80% of products still available an hour before you close, leading to so much waste.

@joedirt1965 16 дней назад

Lola does not want people lingering in the shop all day but people will not go into a shop that's empty.

@commonomics 16 дней назад

It’s crazy because people in a mall have been shopping all day and want to sit down and enjoy a treat. People lingering would literally incentivize others to come in.

@wiley-harris-anderson 16 дней назад

Yeah, isn't it kind of the point to have people linger around and buy more the longer they're there?

@nicholasgutierrez9940 15 дней назад

He's an excellent donut maker, not a business man

@nezhokojo1641 15 дней назад

He needs WiFi that is free for customers to use. Have customers lounge with their laptops, buying coffee and/or donuts throughout the day. Make it a lounge and/or place to chat. People will come in and purchase as they see it is busy. He needs advertising through social media like Instagram and TikTok. What about delivery too? It seems this is just a passion project than a business project for him. The name Lola's Doughnuts feels like it is catered to either a higher class or old ladies. Guy needs rebranding too....Also it seems that mall is dead. lol

@charlesw7397 15 дней назад

If he was so set on being in a mall, he shouldve leased one of those cut outs that Cinnabon and Jamba Juice are usually in. People would see the menu easily while just walking by and he could chat with people as they pass/hand out samples. Forcing customers to come into an empty shop that appears to be unfinished is a big ask. Asking them for $6 after that is an even bigger ask lol

@GhostwarGWPTC 16 дней назад

wasnt expecting it to get so dark, but i liked that you showed its not all sunshine and rainbows

@GyroCannon 15 дней назад

It's such a sharp jump from Mikiko too. "This business is well planned, well run, and sells good products while paying workers a good wage. Things don't have to be soulless and corporate - You can have profits AND sunshine and rainbows!" "... but not here in LA, at a mall, with no sales."

@KOSMOinfinite 16 дней назад

Lola Donuts should just rent kitchen space in a central location and distribute out to coffee shops in high-end areas. To me, seems like a no brainer. Cofee shops don't want to go into the trenches with this type of baked goods and if this guy is literally making the same flavours daily then you don't run the risk of going stale as you can rorate flavours around to various cafes. You still get all the social media buzz and it leaves you exposed to less risk. Also, you can do catering and corporate stuff all from the same kitchen. He should have stayed an "online" brand but pivoted slightly into partnerships and catering.

@jvlicious 16 дней назад

Wow, good and succinct advice 👍

@MIKAEL212345 15 дней назад

wow, that's a good idea.

@buyelanim 15 дней назад

I absolutely agree. He should have leaned into a 'made-to-order' model and added customer value adds & systems around that specifically. Not merely copying/pursuing the moves of the shops he is seeing in the market. Hopefully he gets to read your comment and adopts your lower risk and higher margin & volume strategy! Also instead of coffees, sandwiches and all that, he could use his skill and innovation explore offering products within the dessert & cakes category (a niche can sell itself better).

@maiastela 15 дней назад

Indeed! I was thinking the same (selling to high-end coffee shops) but as his story unfolded, he makes evident he wants a store/brand of his own - even without chairs lol. Passion is not everything I’m afraid

@GyroCannon 15 дней назад

@@maiastela He can still be a brand - the high end shops might put a sign on the display for the donuts. Assuming that this idea goes well, that'll generate some mental real estate for his brand that he can leverage to drive traffic to his own location in the future... But he jumped the gun and went for an overpriced, over-sized spot in a mall...

@commonomics 16 дней назад

Lola’s website literally still has the demo squarespace pages for the location page, shop page and contact page. He doesn’t seem cut out for business. He really might benefit from an advisor or a class.

@captainjacobkeyes6733 14 дней назад

yeah wow I took a look and it's the default squarespace page - bleak.

@gaarasoren1234 14 дней назад

His menu on the website hasn't even been worked on! It's in hkd and there's stuff like ramen on it omggggg

@baxoutthebox5682 14 дней назад

The realtor, then “entrepreneur” career path is a red flag to me. Those people generally tread water doing anything they can to avoid working for “someone else”.

@Banom7a 9 дней назад

he should watch this video lmao

@sneps-ix2th 7 дней назад

i get that he was working 14 hour days but he should’ve sorted that out before renting a 12k space or while he’s waiting from 10-1 for a customer to show up

@baxoutthebox5682 14 дней назад

Pretty blown away by the Mikiko guy’s understanding of every aspect of his business. It’s extraordinary that he prints those margins at such modest scale. I see that being a very successful pitch to franchisee’s should he ever go that route.

@methos-ey9nf 13 дней назад

Seriously.

@WilliamWatrous 11 дней назад

He's just going to get copycats vs franchises when the equipment is so lean

@speakingquitefrankly 3 дня назад

Everything but gloves sadly

@mari0b036 2 дня назад

The mochi donut dude genuinely looks so awesome to be around. Like his whole mentality of investing in people is so real and telling.

@visionbond5814 15 дней назад

Moral of the story: Do what Mikiko does, not what Lola does.

@methos-ey9nf 13 дней назад

Seriously Mikiko’s inspires me to travel across country and go like Keaton in the founder “FRANCHISE”!

@AltimaNEO 5 дней назад

@@methos-ey9nf Ill go there this weekend and buy a few.

@MrJakson112 16 дней назад

so cool you actually went out and did an interview for this!

@elizamartin4263 16 дней назад

I loved this style of video!

@vermiform 14 дней назад

Yeah this was a step above.

@anastasializzi1755 16 дней назад

The mochi donut guy seems really cool, I'd visit if it were in my state!

@GeeEm1313 16 дней назад

The doughnuts themselves aren't very good, IMO.

@kys7615 16 дней назад

@@GeeEm1313 have u tried them?

@alanc4091 16 дней назад

Anytime an owner proudly states how much they pay their employees, they have my respect and those donuts look pretty damn good too. I'm assuming healthier too since it's not deep fried.

@obscene3248 16 дней назад

@@alanc4091 Image a slightly gummy, doughy thing. Mochi-nut really isn't doughnut and you just can't replace deep fried stuff with baked stuff.

@sodapone 15 дней назад

Next time I go to Portland I'm checking them out.

@codingiswhyicryatnight 16 дней назад

No shade to Peter but that donut shop looks like a Saw location.

@blondy2061h 11 дней назад

I’ve never seen such a clinical looking donut shop. The oncology hospital I work at is far warmer.

@lefton4ya 16 дней назад

Man this and the Chicago club promoters videos are seriously MBA capstone course level of research with interviews and inside financial info; you have leveled up. I just hope the algorithm helps you as sadly the big name brands seem to get more eyeballs even though those are not nearly as well researched as ones with interviews and inside financial information.

@abdifatahmohamed2613 16 дней назад

I think the algo will punish his videos…the club promoters video did not do well..his audience is used to the big name brands …best advice would have to start a new channel specifically for this

@spicy_xinger 16 дней назад

Ya they’ve really upped their game and are getting deeper into the topics they cover

@seren1tynow 16 дней назад

⁠⁠⁠@@abdifatahmohamed2613Interesting… The algo never recommended me the chicago club video.

@MIKAEL212345 15 дней назад

@@abdifatahmohamed2613 with the club video, I wonder if the semi-sexual nature of it hindered it in the algorithm. It would really suck if all the interview content did bad cause this has been BY FAR my favorite videos from Modern MBA that he has ever made.

@katiesamcharbonneau4360 13 дней назад

I just discovered the account from this video! That’s a good sign :)

@GyroCannon 15 дней назад

I'm loving the new style of Modern MBA that covers businesses and people IRL, rather than speak solely about financial statements It's one thing to speak about how they operate but another to see it happening

@Jinchuricki27 15 дней назад

Lola needs to take another look at his product. If they weren't coming back at a farmers market, they aren't going to come back at a mall. The recipe needs to be examined.

@kingbonezai4925 13 дней назад

This

@AltimaNEO 5 дней назад

I think his donuts are probably fine. They certainly look good. I just think hes going about it all wrong. Trying to cater to an upscale crowd at locations where it doesnt make much sense. Just a good, cheap donut sold in volume would do him wonders in a neighborhood type donut shop. Somewhere near a school.

@s4098429 2 дня назад

They might be too big or too rich. When I eat donuts they’re a simple side to a good cup of coffee.

@AltimaNEO 2 дня назад

@@s4098429 They look average sized. They're probably not that rich, though. I think its just that hes making them by hand, along with the toppings, and making the price reflect the amount of work that goes into them. Basically, hes not providing good value. But you are right, people want something simple from a donut. Anything fancier, and you're in cupcake/cake territory where the higher prices can be justified because people expect it.

@errolneal9789 16 дней назад

I admire Peter's tenacity. I wish him the best and hope that he succeeds!

@markangelogarcia2584 15 дней назад

Future endeavors but not this one😂

@formxshape 13 дней назад

Peter can learn a lot, simply by watching this video 😂

@GuillermoMunozOrtiz 16 дней назад

I would love to watch more videos where you talk to different independent businesses in different states. ❤

@ModernMBA 16 дней назад

Thank you very much for your support!

@GuillermoMunozOrtiz 16 дней назад

@ModernMBA No problem, this was your best video so far. Consider making these videos into a series.

@msrochellemartin 16 дней назад

Agreed! Loved this format.

@MIKAEL212345 15 дней назад

@@GuillermoMunozOrtiz you should his video about Chicago nightclubs then. It is basically about the promoter business, which by its very nature has to a small independent business. I am loving ModernMBA's new interview direction with his last two videos.

@uliokechukwu663 13 дней назад

Funny thing is Lola's exact concept is thriving in Covent Garden in Central London, its called Donutelier and is super successful. The same gourmet £6 doughnuts, but the business is different. The space is extremely beautiful, you see the doughnuts made fresh and theres often a queue to get them at peak hours. He needs to get out the mall, and get to a location that is cheaper and aligns with overpriced baked goods

@MayorSom 16 часов назад

I live walking distance to Covent Garden. It's not exactly some noughties shopping centre though.

@thequintanashow5058 16 дней назад

If Lola’s doughnuts could talk, they would sound exactly like the owner … 😂

@untrusted8008 16 дней назад

He's really sleep deprived working 14-18 hour days and waking up at 3am. Seems depressed too. Probably can't think clearly, which is extra dangerous when spending 12k a month (possibly with debt)

@juliancohen9561 15 дней назад

@@untrusted8008 I thought the exact same thing. Poor guy. I can't imagine the stress he must be in.

@frankd9945 14 дней назад

"I want big orders like an office or school. " ... Who wants to pay for overpriced premium donuts for coworkers or other people's kids?

@baxoutthebox5682 14 дней назад

@@frankd9945who doesn’t want to sell high volume orders to few customers rather than low volume orders to many customers. That statement was so obvious it doesn’t need to be said. If he had an idea of how to execute on that plan, sure. But just wishing you could sell everything to one customer is moronic. Like a car dealership saying I wish we could sell the whole lot to just one guy.

@unifairsum21 16 дней назад

Man lolas opening at 10am is rough people are already at work hard to get anything after

@eminempreg 14 дней назад

Yeah! Donuts are usually a breakfast food. I work at a popular Cafe in my town and on average were sold out of our pastries by 10 to 11am. I'm not business minded but Peter's choices keep confusing me

@AltimaNEO 5 дней назад

The whole setup stinks. In a mall? Like what is he expecting? That kinda getup works for a lean, heat and eat model, where you just take premade, frozen product and heat what you plan to sell (exactly how Starbucks does it, for example). Theres not enough foot traffic at a mall to make the kind of sales one needs from a fancy, handmade, premium donut shop. If he was serious about selling that many donuts, he should have set up shop somewhere in the neighborhood near schools or offices. Open up at 5 AM as the crowds are getting to work and school. Donuts are the kind of thing that sell themselves, as long as youre in the right location.

@DJ_Frankfurter 16 дней назад

The Lola Doughnuts guy's story is depressing. He's so detached from reality.

@inquisitorinluzifera3406 16 дней назад

probably spend too much time in LA without a reality check.

@togaman6438 16 дней назад

Bro it really caught me off guard how dark it got

@sweetpeach3 16 дней назад

I agree 100%. He needs to move to a standalone place. People want a cafe to sit in or walk by. Mall is a terrible idea.

@samuelgates5935 16 дней назад

He should stand outside and give free samples. Go to schools and colleges to get catering offers. Worked with a couple who did this and after 1 week they were selling out.

@anthonyguzman412 16 дней назад

Ya I’d go and want to get a donut because that mall looked like the Del Amo fashion center but he rather have someone who would buy 3 dozen donuts instead of my 2 donut purchase so I’ll just go get a box for $8 at my local granny’s donuts

@PXAbstraction 16 дней назад

Anyone who has ever had Tim Horton's in Canada since they were bought out by private equity can tell you that the hub and spoke model absolutely compromises significantly on quality.

@GeeEm1313 16 дней назад

Who owns Burger King as well. I wish I could have tried them before the buyout.

@PXAbstraction 16 дней назад

@@GeeEm1313 Yep and now Popeye's (which I don't think was ever good) and most heartbreaking of all, Firehouse Subs. 😭

@spicy_xinger 16 дней назад

Franchising kills quality in most cases

@Bodybypt 16 дней назад

Since being bought out, they don't taste as good as they used to.

@coolpasta2644 15 дней назад

it's so inconsistent😭😭. i don't think i've ever gotten a steeped tea that tastes the same. no matter which store i go to

@sirmidor 15 дней назад

I really appreciate the footage used in this video. In past videos, apart from shots of graphs, it was almost all short TV advertisements or other stock footage. It related to the topic, but it was also very generic, it was just filler for the narration. In this video the footage is specific and directly relates to the content. I also liked how you focused on two specific shops to explain the larger struggles of this industry, I found it very engaging.

@AHulst 16 дней назад

This video explained why Krispy Kreme donuts are so terrible. I never understood why my American friend thought they were amazing, yet I thought they tasted stale and overwhelmingly sweet. He probably just started eating them when the donuts were made locally, but when I eventually tried them they were made in a factory

@ronh4658 15 дней назад

Yeah, a Krispy Kreme hot off the conveyer is amazing. The most unhealthy thing you can eat, just BARELY solidified. Every ten seconds after the first minute, it gets worse-after an hour it may as well be a vending machine sticky bun.

@bikesarebest 15 дней назад

Yeah, I remember having them as a kid in like 2006 and being obsessed. Had one a few years back and it feels like empty calories.

@glitterstarbeau 13 дней назад

They are so good hot off the machine. I won't eat them unless they are fresh (can you even get them that way anymore?)

@Nighthorde26 13 дней назад

If you want a solid American donut, I highly recommend Duck Donuts!

@dlb8685 13 дней назад

When I was a high school kid in the late 90s as they were taking off, they were popular for a reason. But like others have said they get nasty fast and the logistics got way overstretched. I’m not much of a donut eater anymore anyway, but can vouch that Krispy Kreme was pretty good back then.

@lukeholman 14 дней назад

never suspected that I could learn so much about life from donuts

@ScarredBert 16 дней назад

Lola’s shop guy, if you’re reading this: no one is gonna be attracted to your empty box of a store. It’s bad vibes. Donuts are a dime a dozen, if I’m gonna go to a bare store it’ll be a southeast Asian donut store when the craft is generational and cheap. People don’t go to malls for cheap shit, it’s gotta be good vibes

@pierrex3226 16 дней назад

He's selling overpriced depression. Who's not loving this?

@commonomics 16 дней назад

And no one even knows they are handmade artisan doughnut, I didn’t see it advertised outside the shop or inside.

@DovidM 14 дней назад

Some Southeast Asian donut shops in SoCal have chairs and small tables. A problem such stores have are customers who sit down and don’t order anything, because they just want a place to sit.

@cookiesandpudding8485 12 дней назад

@@DovidMwouldn’t having people visibly in the store make more people want to walk in overall?

@dieselbaby 8 дней назад

@@cookiesandpudding8485 depends what kind of people are sitting around in the store. Where I'm at in Southern California (in LA, about 15 mins away from where Lola's used to be) in the immediate local area there's one Dunkin location and numerous independent mom & pop style shops that are run by Cambodians, primarily, all of them more or less copycats of each other. These places 5 years ago used to have a couple of small booths/tables and chairs inside, but nowadays, in the few who haven't removed them altogether, they aren't too happy to be having people sitting around, because 99% of the time it's homeless people, the kind who are confrontational and cause trouble, no less.

@NASCAR24FAN100 16 дней назад

It's sad seeing Peter do everything wrong. His prices are too high, the store feels uninviting (which is intentional), the location is bad in many ways. We have to get a follow up later this year.

@bryantgomez7135 13 дней назад

He just closed his store and went back to making pre-ordered donuts for third-party delivery.

@hillfortherstudios2757 2 дня назад

"Being good at your craft and being good at business are 2 different things". This is critical to understand. Even the business school that I went to leads you to believe that if you simply have a good product, you will have business. It's simply not true.

@totleariss 14 дней назад

Imagine struggling to sell your premium made from scratch product at a farmers market and thinking your problem is not enough foot traffic.

@extragon5552 15 дней назад

Been watching your channel for a year now and have been super impressed with the consistent high quality and well-researched videos! Really appreciate that there's not a lot of clickbait and nothing is overdramatized, unlike most of youtube. Your videos are refreshing, unique, and wish there were more channels like this!

@ModernMBA 15 дней назад

Thank you for the support!

@Spongy656 16 дней назад

It'd be really interesting to have a check up on these guys in the future. I hope Lola's finds its footing.

@blondy2061h 11 дней назад

I’ll be amazed if i he sees August

@theboringchannel2027 16 дней назад

When there were no repeat customers after 6 months, that indicates there is something wrong with the product, or the perceived value vs the cost. Basically his donuts likely don't taste like a $6 donut should. Look good, but taste below average.

@KOSMOinfinite 15 дней назад

It could be that is is actually a $4 donut and that would bring people back. It's crazy how precise pricing has to be. I do think people have a barrier for anything simple that costs more than $5 (Cofee, cookie, donut, drink).

@theboringchannel2027 15 дней назад

@@KOSMOinfinite Yes price points matter. Although in NYC there are plenty of $6-10 donuts for sale, and more expensive cronuts. Its a combo of price and likely poor quality product due to a lack of repeat customers. Guy likely sells donuts well past their prime due to his off location cooking of the donuts. Stale $6 donuts dont get you repeat customers.

@inquisitorinluzifera3406 16 дней назад

29:15- always sheds a good light on your business, if you complain about low customer numbers on your official social media :D

@mcdoji 16 дней назад

What a stupid thing to post on social media, especially when selling doughnuts for $5 a pop. This guy has no chance and should cut his losses sooner rather than later.

@ZackScriven 16 дней назад

Oh wow. 🫣

@blueguy5588 12 дней назад

The Mikiko guy seems like a solid business owner and employer. Hope his business continues to succeed.

@alanmiller5018 16 дней назад

Lola’s Doughnut is literally at the closest mall I live by. Might go to see if he is actually like this.

@CamF64 16 дней назад

Update and let us know if it’s any good

@drfunk891 16 дней назад

I'd love to hear a follow up on this!

@eevieee 15 дней назад

Commenting so I get updates tol 😅

@homurseempsone154 15 дней назад

Update us

@wandamishmash 15 дней назад

Can you also ask what he thinks about this vid, or whether he knows how he’s portrayed here at all?

@piercechan 16 дней назад

Bravo! This was my favorite episode yet! Would you consider doing an episode on bubble tea "boba" shops? I think you will find a new viewer base with that. I own multiple boba shops around LA and would be happy to contribute.

@ModernMBA 16 дней назад

Send us an email - happy to consider!

@spicy_xinger 16 дней назад

Wall Street millennial did a video on this but I’d love to see some real life stories from smaller owners and not just the mega franchises

@piercechan 16 дней назад

@@spicy_xinger sweet, I will look that video up, thank you.

@methos-ey9nf 12 дней назад

@@spicy_xingerdefinitely some viewer overlap because I watched that video too.

@jvlicious 16 дней назад

Sometimes a craftsman needs a business coach/mentorship. I once knew a girl who began studying jewelry making, creating fantastic stuff like cuffs and such. Couldn't part with what she created because she felt the offers for her items were too low

@Uglier. 16 дней назад

Average American eats 31 donuts every year? I had 10 last week for teachers appreciation week 😂😂

@OperaVanDubels 16 дней назад

You're the one who increases the average

@JK8 16 дней назад

Peter seems kind of screwed

@suziscool 14 дней назад

My pops started a business 50 years ago renting roller skates. He'd come home with $0.00 days but showed up the next day, every day. He followed the market and brought on skateboards, snow boards and all that goes along with it. It was a successful business for over 30 years. Then came the Internet and he retired. Lessons learned, show up everyday, follow your market and show up everyday.

@chloejones6240 14 дней назад

There's a donut food truck at my local farmers market. It typically has a huge line because people love them. They fry them in the truck so they're super fresh when you get them. They only sell plain glazed at $4 a piece. All this to say, there can certainly be donut success at a farmers market.

@Boredblacksheep 16 дней назад

I love your transition from biggest companies to small businesses. Great research, thanks!

@jmmbuthia 14 дней назад

Love that Modern MBA is covering small businesses also not just big business. We learn a lot from seeing how small business operate in competitive environments

@adamryason5509 15 дней назад

I really like the transparency in this video. As an entrepreneur who's dealt with ups and downs, I can relate to the struggles and it's a relief to see the reality of many, instead of only the successes of few.

@jjboybeamer 16 дней назад

Peter's business is going out of business for sure

@ohnosmoarlulcatz 16 дней назад

I think I recognize the mall as well. If it is the one I am thinking of, he's also competing against the massive Japanese market/food court with its own bakery just downstairs and around the corner. There's no way he's going to be beating that.

@hellacooook 15 дней назад

@@ohnosmoarlulcatzeven if the rent was $6,000 selling that amount of donuts in a month for well established brands or the other donut in the documentary is difficult . Peter if you’re reading this cut the losses before it’s bankruptcy. You don’t have a drink menu like a normal dessert shop

@cristinab2263 15 дней назад

Looks like Del Amo Fashion Center from some Google Maps digging. I couldn't even search the place itself, so I don't know if he's still in business. He's delusional

@Luckydaturtle 16 дней назад

Southern California has a very interesting history with Cambodian Migrants and donuts. Hulu has a documentary called Donut King, where I think it was the SVP of operations of Dunkin said that they couldn’t penetrate the west coast market because they couldn’t compete with the mom and pop shops of the area.

@GeeEm1313 16 дней назад

Dunkin left the Portland area years ago. Rightfully so, as they're plasticky and gross.

@dieselbaby 8 дней назад

Indeed, the California market in general was one of the few regions of the US where Dunkin had zero presence whatsoever for several decades, they only recently (~5 or so years ago) made a re-entry into this area. I highly suspect that a lot of their decision to do this has to do with their transition in business model from being formerly more strictly focused on donut sales themselves to their current strategy as a less expensive Starbucks alternative mainly focused on beverages with a decently sized food menu. The Cambodian donut places are still around and are still sticking it out, but they are almost all the same low quality donuts, not very good tbh.

@JackZ72 16 дней назад

Portland vs LA exemplified so well

@taylor3342 16 дней назад

I don’t think one guys bad business venture encapsulates a city but ok

@JackZ72 16 дней назад

@@taylor3342 I speak from a position of authority as general of portlands woke mob. What credentials do you have

@jaad9848 16 дней назад

@@taylor3342 Especiallly since that business is clearly unsustainable and wont exist for long

@johnjones3813 15 дней назад

Dumb comment.

@AriWilson 15 дней назад

LA rules Portland drools

@madbug1965 15 дней назад

Don't knock those south east Asian mom and pop donut shops. They know how to make one fine donut! 🍩❤

@AriWilson 15 дней назад

I was just at this mall today (live 15 minutes away) and had no idea this Lola Donuts place existed. I love donuts and often expense a dozen gourmet donuts for the office. Marketing fail.

@GuillermoMunozOrtiz 16 дней назад

I think you have a new series, idead where you talk to local independent businesses in different states. This was so fascinating.

@volundros 13 дней назад

As someone who grew up in LA eating "bland donuts" don't you ever disparage LA donuts again. The cambodian donuts becoming so wildly popular didn't happen on accident. LA has the best donuts in the country, bar none! Those pink boxes are legendary. Sadly I don't live there anymore. After living in many different locations in the country I've discovered that the reason Krispy Cream and Dunkin does so well is because the donut shops outside of LA suck.

@PXAbstraction 16 дней назад

Alex, I like Alex. More business owners need to think like him.

@hundid5930 16 дней назад

Loving this new style!

@ChocolateMilkCultLeader 16 дней назад

I was not expecting that Peter diss track in the end. I wonder if that will help raise Lola's business though

@humza890 16 дней назад

Very true, I do hope Peter takes the criticism well and use it to improve the business. The most important point for me is how empty the store looks without table and chairs. And having chairs may benefit the business by making the place look like 'high demand'. Also moving the doughnut display towards the window could help bring people in (Ik this because I've gone into places with window displays of food). Business is ruthless, and being good in your craft does not mean you're good at your business. The best route would be the mix of both, someone focused on the craft and the other on the business.

@ChocolateMilkCultLeader 16 дней назад

@@humza890 maybe investing into a location where things can be made on prem would be a good investment. His current process seems inefficient

@scrooglemcdoogle 16 дней назад

This is a fascinating episode because in my area theres not a single donut shop of any kind, be it a chain or local store. So this episode is a view into a business I have no reference for.

@nonononameee5833 9 дней назад

And where are you from

@scrooglemcdoogle 9 дней назад

@@nonononameee5833 South Dakota

@dieselbaby 8 дней назад

Huh? Where do you live that there's not a single donut store?

@scrooglemcdoogle 8 дней назад

@@dieselbaby South Dakota.

@anthonyhuynh6380 16 дней назад

SideCar Donuts in California are focused on premium product and are my absolute favorite! Less sweet but more flavorsome, and closer to the side of a nice pastry shop than generic, sickly sweet, cheaper donut stores.

@caymanchristopher7014 14 дней назад

As part of practical experience, our business school assigned us businesses to help them optimize. We got a donut shop. We analyzed sales, optimized the donut sale mix with statistics and optimized labor timing. Then we asked questions like, what time do you open? They opened at 8 am! We got an A based on post-encounter increase in profitability. Mostly because we told them they had to open at 6:30 am. LOL!

@DovidM 14 дней назад

Peter took a lease on an upper story of a strip mall. Usually, businesses on the second floor are providing services like tutoring and tax preparation. Travel agents are often located there. Such services don’t generate foot traffic. He’s probably paying less in rent for a second floor spot but he’s dependent on word of mouth rather than foot traffic.

@stanleyipkiss7133 День назад

He's hoping the foot traffic from Starbucks next door would spill over to him.

@blue8710 14 дней назад

We need more bosses like the donut guy, considerate human beings who are genuinely concerned about the well-being of their staff.

@LadyPantera57 13 дней назад

When I first started my business I made many of the mistakes that Peter is making. I end up spending lots of money on expensive advertising, thought I needed a large office space. 13 years later, I still over-complicate things here and there, but I've also learned to simplify and evaluate what's actually needed. With the way that he's operating things right now, he doesn't actually need a storefront, he would probably do much better with a kiosk or a food cart.

@Castaway67 5 дней назад

The final line of "Being good at business and Bing good at your craft are two different things" hits way harder than I thought It may at the end of the video.

@sahildeepsingh206 12 дней назад

The way you made an analysis video having both the giants and then independent stores compared is something we want regularly in all your videos. Please, please!

@SWinxyTheCat 16 дней назад

I really appreciate the original reporting done for this episode. It makes the channel all the more informative.

@greeny.official 15 дней назад

peters insane for saying that maybe a parent will shell out $45 for a dozen of these donuts to bring for their kids class

@AdropAsugar 8 дней назад

I'm glad you featured Lola's donuts. We rarely get to see the struggle of starting and running a business. Learn and adjust, or fail.

@Waderader 11 дней назад

This is your best video so far. More like this, I love the interview model and the contrasting storylines over time with real numbers from small private companies. Thanks!

@Spicy_chef 15 дней назад

As a chef, I see Lola’s problem far too often. Creators are like parents… they will love their baby more than everyone else. When you have someone looking at the product so closely it’s hard to have the outside perspective on who will care about what you are creating! From my experience, finding a solid business partner who is pragmatic but invested in where you want to go is the most important relationship you can develop.

@weston.weston 16 дней назад

This content is always so well done. Excellent, ModernMBA.

@EcomCarl 15 дней назад

Fascinating analysis of the doughnut industry's dynamics! The shift towards gourmet and creative doughnuts on the West Coast highlights a broader trend of innovation in traditional markets, reminding us of the power of differentiation and niche marketing. 🍩

@jjj8317 15 дней назад

Mall bro makes a lot of assumptions that are quite costly. His overhead is pretty, his product is very expensive, and people judt dont care much for malls to begin with. If you want to sell a premium product you need to be situation in a high traffic location around the city center of 1) a large city, 2) a small well-developed city with a lot of young people (i,e. Collegue town).

@danielmoore97 5 часов назад

The focus on real-life small businesses was really interesting, would love to see more of this!

@GeeEm1313 16 дней назад

I want to go to Mokiko. I've tried Mochinut, and I thought they sucked. So, I hope Mokiko is good. Also, if you pay $5-6 for a doughnut, you should be locked in a rubber room.

@user-ec3rm9wr1n 14 дней назад

😂😂😂😂😂😂😂😂

@bryantgomez7135 13 дней назад

26:48 Lola’s Doughnuts has once again become available for third party delivery only.

@ooogyman 12 дней назад

Having lived in LA for 20 years as an actor, I get the owner of Lola's doughnuts logic, if flawed. A lot of people in LA think "if I am good at what I do, work hard, and am seen by a lot of people, surely I will be successful." But it's not enough to be seen: you need to know your audience. Bigger audiences only gravitate toward you if they see other people excited about what you do, and that means building a relationship with people willing to pay $5-$6 each for your doughnuts. But building quality relationships is much harder than making good doughnuts and spending a ton of money on rent & advertising.

@user-xq6us6bc2z 15 дней назад

Peter is on the arena floor fighting the fight. He going after it and will be better for it. He’ll figure this out or apply what he has learned to the next thing. 🥃 Here’s to the people of action

@eetadakimasu 11 дней назад

Please tell Peter that yes, as what is essentially a cafe, he wants people to hang out, get free Wi-Fi and being people in who want to sit, have some doughnuts and maybe do some work.

@samuelgates5935 16 дней назад

ALL Krispy Kreme's donuts taste the same, just different icing. Their moto should be, "A pound of sugar in every donut!"

@johnokumu9069 15 дней назад

😂😂 😂😂😂 absolutely made my day😂😂😂😂 this is just gold

@nonononameee5833 9 дней назад

😂😂😂😂😂😂

@Slickjitz 16 дней назад

Jeez that Lola’s location is so empty it gives me anxiety at the idea of walking in. When there’s more things in a shop- chair, tables, pictures, merchandise, whatever I feel like I’m not the center of attention. Walking into that empty place dead quiet makes me uncomfortable.

@kibaanazuka332 14 дней назад

I hate to say it, but it gives off money laundering or crime front vibes than a donut shop

@PimpinPoptart06 16 дней назад

Im loving the interview format!

@Patangy 6 дней назад

I LOVED the two interviews with the shop owners!! I know it's probably not possible with all videos (like the big franchise wars ones) but they were really insightful looks into the business on the ground.

@leonwindorfer2789 15 дней назад

Really great to see videos about smaller entrepreneurs, and especially case studies of failed businesses, thanks for that! Valuable lessons to be learned

@mikejanacone8328 15 дней назад

Peter talks about having a great product having a good product is important. Look at the McDonald’s cheeseburger. It’s not the best cheeseburger there is by any means but it’s the best cheeseburger that efficient and economically mass produced that’s how you make money and run a good business

@paulbornuat5655 2 дня назад

Really really good video. As every one else said, showing numbers and footage from businesses is really useful. I just wonder why Mikiko agreed to explain so much of their winning formula! That being said, it'd be so much nicer if there were fewer Dunkins and Krispy Cremes and more small businesses like Mikiko that don't try to get huge and care about their employees and, as he said, do more with less revenue. Small scale is nice too. And they're really not doing at all.

@ABlankMan-ni6jt 16 дней назад

I don’t know where to request next topic but I’ve always seen Ecolab products and am curious about Ecolab as the company.

@WoodsRules 9 дней назад

I really enjoyed the video. Showing the corporate side with numbers and showing two really different establishments with their own niches in a mini documentary kind of way. And it stumbled me how good the shots were in the two stores as if i was walking with them. Also founders ideas and businesses are delivered really compactly with each second of the video designed to have only essentials and used to maximum efficency. I think the quality of the video is directly related to the huge amounts of passion the team has, because this video feels more natural and educating than any yt video from big tv channels, like cnbc.

@puellabella3580 15 дней назад

As someone with a deep appreciation for quality, it would be sad to see good a product disappear because the owner cant see the bigger picture. All that hard work and dedication is for nothing if he doesnt learn the right lessons from his failures and I really hope that wont be the case.

@tylerbhumphries 15 дней назад

His price point is too high for his product, especially in this economy. When he was at the farmers market for 6 months and didn’t have a repeat sale that was the biggest red flag. Either the product looks good but tastes bad or it’s too expensive. I make handmade candles and wax melts and sale online and in person via farmer markets and pop-up events. And I’m also trying to branch out into wholesale. My business is slow right now but it’s because I’m not putting in the effort. I’m currently trying to switch my day job. Once I get a new job, I’ll be able to refocus on growing my business. I’ve been in business since 2020 and last year was my highest grossing year overall but my first year was my highest year for online profit. Doing the markets were extremely helpful in getting real time feedback from customers about product design, branding, and pricing. He learned something during the markets but is choosing to ignore it.

@CarletonTorpin 15 дней назад

This format of video is my new favorite, on an Modern MBA. I love the in-person reportage and documentation efforts.

@stanton7847 14 дней назад

Fantastic interviews. Thank you so much.

@keith2366 14 дней назад

I'm not getting my 31 doughnuts per year average. But when I do have a doughnut it is from a mom and pop shop where doughnuts taste good. Krispy Kreme are extra sweet with no flavor. Plus a mom and pop shop is more likely to have a wider selection than Krispy Kreme and Dunkin.

@jarrettrobinson6424 15 дней назад

Honestly the best business RU-vid channel, keep up the good work guys appreciate it.

@somethinlike23 16 дней назад

15:00 "Child labor makes the donuts around here really cheap, it's tough."

@rescueninja4728 8 дней назад

Comparing the 2 businesses here using the stock market analogy. Mikiko’s donut - buying a blue chip company and continually add on those shares during dip Lola’s donut - buying a penny stock, and keep on buying during dips. hoping it goes to the moon.

@anastasializzi1755 16 дней назад

Amazing video, I literally forgot this wasn't a CNBC video when you did the interview

@pureming6802 13 дней назад

Hi 😊 I love watching your videos and seeing all the delicious creations from Alex McGillivray at Mikiko Mochi Donuts. His passion and creativity really shine through! I wanted to share a small suggestion that could enhance their amazing work even further. Wearing sanitary gloves while handling food items and toppings can make a big difference in maintaining hygiene and ensuring the safety of your delicious donuts. It’s a little step that shows extra care and professionalism. Keep up the fantastic work, and I can’t wait to feast more of your tasty treats! 🍩✨