Define your donut
Defining your donut will mean deciding on type (flavours, etc.), size and price. Since there are a wide variety of donuts available in the market, you cannot get your business off the ground without first defining your product. Some of the most popular varieties of donuts include non-filled, filled, glazed and cake.
You have to make sure that you introduce something that will grab the consumer’s attention. Once you have defined your product, deciding about packaging and ingredients will become a whole lot easier because it is the type(s) of donuts that will help you make a decision about these parametres.
Come up with a recipe
The recipe of your donut is one of the most important things that will make or break your business. If you plan to prepare the products yourself, start off by serving consumers on a small scale as you may not be fully prepared for mass production and sale. Experiment with making donuts in bulk before marketing your business. Even if you have hired a donut expert, starting off with small-scale production will allow you to control your costs and sales.
Get all the equipment and inventory
Donut business cannot be successful without proper equipment and inventory. Usually, a donut business uses deep fryers and mixers. Cooling racks, pans and other equipment should be arranged well before you decide to open the business.
Do some number-crunching
Determine how many donuts you will be offering per package. Donuts sell on a per package basis as well. So, do cost and benefit analysis.