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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. https://www.instagram.com/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.
https://www.instagram.com/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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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)