When we first imagined OMG Decadent Donuts, we had two clear objectives:
- To create an inclusive product that just about anyone can eat.
- To replicate the product with a business model that was just as inclusive.
To achieve objective one, we worked tirelessly to ensure the stability of the product taste and texture – soft, light, fluffy and taste enhanced by the 12 bespoke sugars made from real fruit, vegetables, and spices.
We also felt it was super important to be accountable in our quest to be inclusive and so became endorsed and accredited by Coeliac Australia, accredited by Vegan Australia, and certified by the Halal Authority of Australia and Kosher Australia thereby taking inclusiveness a step well above the norm. We are also committed to having each batch of donut mix independently tested in a food laboratory to ensure no cross contamination has occurred.
To achieve objective two, affordability to buy a region is key so that everyday families and individuals can get into their own business in their own community without the need for a massive loan or to use their super. We didn’t want to be a ‘big brother’ to anyone, and the franchise model didn’t suit us. We wanted people to have their own small business run their way; to set their own KPIs to make the business fit their life goals and family commitments. So, a licensee agreement was put in place to enable the replication of the donuts elsewhere, but which was affordable for people wanting an entry level turnkey business.
The importance of small business
Small business really is big business in Australia (and in every country around the world) and is integral to Australia’s economy. But just how big is the market in Australia? Here are a couple of interesting figures:
Over 97% of all businesses in Australia are small businesses (about 2.5 million).
They employ over 3.6 million people (around 50% of the Australian working population) and support many millions more.
The small-to-medium enterprise (SME) sector created approximately 7 million jobs during the 2017 financial year. In doing so, they contributed to 57% of Australia’s GDP.
The total capital value of these businesses combined is in the vicinity of $4.3 Trillion (now that is a lot of zeros and 4 times that of the Australian Stock Exchange!
SME business owners
It’s clear that SME business owners an invaluable resource to Australia’s economy and contribute to our country’s competitive edge within the global marketplace.
Often the most innovative businesspeople are found in the SME sector. They have skills and experience to understand how to grow new niche markets in industries and active enough to stay ahead of the curve.
NAB conducted a survey that found that successful SMEs are truly passionate about their product or service, not afraid to fail and learn from this, prepared to work hard, and that they can deal well with challenging customers.
OMG! support for your success
OMG Decadent Donuts is proudly a small all Australian owned business, creating more small businesses, generating employment, and benefiting the economy.
So, next time we think we are only starting or running a small business, take a moment to remember that we are part of a much larger group. Being an OMG! licensee in this context means that we have invaluable and ongoing support that will maximise our success in small, but really big business in Australia.
