Krispy Kreme

Essay by studentKUniversity, Bachelor'sA+, July 2005

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The entrepreneurial characteristics that franchisees should have to be successful are the willingness to work hard and long hours. Starting a franchise is not a simple task and it demands a high energy level, especially in the beginning stages. A strong competitive drive is also an important trait, enjoying the challenge of reaching difficult goals and dedication are the drivers of success. The franchisee's belief in their ability to succeed and also instill that optimism in others is crucial for the success of the store. Successful franchisees view setbacks as learning experiences and are not easily discouraged when things don't go as planned. They also take stride in uncertainties and treat unexpected events as the norm.

Krispy Kreme emphasis on producing a quality doughnut enhances their relationship with the customer, which leads to higher profits for the company. The "Hot Doughnuts Now" sign serves as their biggest signal to the freshest doughnuts offered.

Krispy Kremes understand that customers value freshness, quality and consistency when it comes to doughnuts and they provide a visual of that value through the Doughnut Theatre. Quality in every single doughnut is vital to Krispy Kreme and this is why it has so many loyal customers.

Krispy Kreme's most important tangible asset is the "Hot Doughnut Machine", because it helps insure the high quality, identical texture and flavor at any location. Another tangible asset is the "Hot Doughnuts Now" sign which is a strong impulse purchase generator and an integral contributor to the brand's mystique. The intangible resource Krispy Kreme possesses is their recipe; the basic ingredients make the doughnuts sacred to the customer. Krispy Kreme is about experience; customers are drawn to the whole experience of watching the doughnuts being made freshly before their eyes and experiencing the incontestable taste of the doughnut.