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Introduction
I chose to do my financial analysis paper on Krispy Kreme Doughnuts. Krispy Kreme
Doughnuts was formed in 1933 by Vernon Carver Rudolph. Mr. Rudolph purchased a small doughnut shop in Kentucky from a French chef; with this purchase he obtained the company's assets, goodwill and the rights to a secret yeast-raised doughnut recipe.
In 1937 Mr. Rudolph opened up a wholesale business where he started selling to local grocery establishments. The local townspeople would love walking by the bakery and would often request to purchase the doughnuts, so he decided to cut a hole in the factory wall and started selling them to the community. Over the next 20 years, Mr. Rudolph and his partner opened several other stores in North and South Carolina. This started a regional store chain. Mr. Rudolph died in 1973, and three years later Beatrice Foods Company of Chicago, Illinois purchased the store chain. In 1982, Joseph A. McAleer Sr. owner of a group of the Krispy Kreme franchises, purchased the corporation from Beatrice Foods and Krispy Kreme became an independent company again. Krispy Kreme Doughnuts now has stores all over the country, and internationally including Mexico, Australia, Canada and England. Today Krispy Kreme Doughnuts stores makes and sells over 20 varieties of doughnuts. Each franchise has the capability of making 4,000 to 10,000 dozen doughnuts every day. As of February 1, 2004, there are 357 Krispy Kreme factory stores in operation, 338 of these are located in the United States. Krispy Kreme has now expanded its ventures to a best-in-class beverage program to compliment its tasty doughnuts.
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