Michael Bulley
Donut King Annandale QLD – Donut King Casurina Square NT – Donut King Castletown QLD – Donut King Willows QLD – Donut King Townsville Centro QLD In 2003 I owned 4 independent Donut Shops in various shopping centres. My sales varied from $3,500 to $8,000 a week. We believed that we were good and diligent operators and were working @ 60 hours a week. I approached RFG to buy the only other donut store in Townsville. In the process of negotiations it became evident that RFG offered a far greater opportunity then previously perceived. Ultimately we decided to buy into the DK brand. We closed one store, sold another and converted the remaining two to the DK brand. We now work less than 40 hours a week and our 4 Townsville stores average between $8000 and $15000 a week. Our most recent store has opened with a $30,000+ week.
Our first year growth at Castletown was 85% with a 8% decline in COG. Our Annandale store had an 87% growth in the first year with a similar decline in COG. This increase in sales coupled with the decrease in COG's has massively increased our profit from day one. Since that period of time I have invested in 3 other DK stores, and continue to look for other opportunities within the system. In the last 6 months we have sold two of our stores at a price that far exceeded our wildest imagination from when we were sole operators. The initial training, ongoing support, marketing and performance of the stores have provided a lifestyle we could have only dreamt about six years ago.
Please feel free to contact me personally and I will answer any questions that you may have. Going to Donut King has simply been the best business decision we have made.
RFG Price at posting:
$3.10 Sentiment: Buy Disclosure: Held
