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From Mall Kiosk to Successful Franchise: The DonutNV Story - With Alex Gingold
Manage episode 404580346 series 3425635
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DESCRIPTION:
Alex Gingold, the guest on the Franchise Hot Seat, discusses his business DonutNV. The rebranding from Cinnamony Donuts to Donut Envy was intentional, aiming to engage customers and prompt them to ask questions about the brand.
The business started in 2014 as a small outdoor mall kiosk at the Philadelphia premium outlets, serving hot mini donuts in two flavors and fresh squeezed lemonade. Gingold and his wife, Amanda, chose the donut business for its flexibility and their love for quick service food. They also wanted to avoid the time commitment of brick and mortar businesses.
The decision to start the business was catalyzed when Amanda lost her job. Gingold kept his job in the insurance industry for another year and a half after launching the business.
The couple launched their first mobile trailer a year after starting the kiosk due to customer requests for their presence at events.
Gingold also shares his experience working at Subway as a teenager and his aspiration to become a Subway franchisee. However, a business professor advised him to build his own system instead, leading him to franchising.
He expresses regret that his small business and entrepreneurship degree program at Penn State did not include franchising education.
- With Alex Gingold
TIMESTAMPS:
00:00 - Introduction to Donut Envy and intentional branding
01:12 - Origins of Cinnamony Donuts and rebranding to Donut Envy
02:30 - Starting as a kiosk at Philadelphia premium outlets
03:50 - Initial menu offerings and concept development
05:10 - Transition from corporate roles to entrepreneurship
06:45 - Finding used donut equipment on Craigslist
08:15 - Decision-making process and overcoming hurdles
10:00 - Official launch of Donut Envy in 2014
11:20 - Balancing entrepreneurship with maintaining a job
12:40 - Expansion into mobile trailer setup
14:00 - Transitioning from job security to entrepreneurship
15:30 - Learning experiences from early Subway employment
17:00 - Considering franchise ownership at a young age
18:20 - Participation in Subway's global student competition
LINKS:
WEBSITE: http://franchisehotseats.com/
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