If there’s one thing about Australian cuisine that will stand out for any tourist in search of a unique culinary experience it’s the country’s vibrant fusion food scene. Aussie fusion cuisine is heavily influenced by Asian ingredients and cooking methods. The approach even extends to one of the world’s most popular convenience foods, donuts.
Donuts down under are a varied affair and with some pundits estimating that around 200 million of the sweet treats are sold in the country every year, competition for market share is fierce.
Rita Kim, owner of Mochi Donuts Australia is one woman who has set her sights on dominating the Australian Donut industry, which is currently dominated by large American chains such as Krispy Kreme and Dunkin.
Rita may have found the recipe for success, but it was no easy road for this serial entrepreneur to follow. She has triumphed over adversity on more than one occasion, and her story is a blueprint for how to overcome obstacles and a lesson on the value of focus when building a brand from the ground up.
The Hard Road to Sweet Success
Mochi Donuts are a fusion of traditional American donuts and Japanese mochi. At Mochi Donuts, you can pick up varieties like Cinnamon, Biscoff, Mango, and Milk Chocolate, but each unique offering shares the familiar donut hole. This standard feature holds special meaning for Rita, as for years, this successful entrepreneur has been searching for something to fill a void in her life.
Rita reflects on the roads she has traveled and the importance of perseverance, “I grew up in a household marked by domestic violence, which deeply impacted my mental health and self-esteem.” Despite the constant emotional strain that undermined her confidence and self-worth, Rita’s determination to succeed helped her stay on track toward her goals.
“If you wanted to get all philosophical about it then you could say that the hole is what makes a donut, it’s a negative space that defines its ‘donutness.’ For a long time, I was also in that negative space, but I didn’t let it define me.”
At first, Rita followed a conventional path, enrolling in an accounting program at an Australian university after immigrating at 18. However, dissatisfied with the practical applications of her degree, she left to join the workforce and gain real-world experience. Over the next decade, Rita taught herself essential accounting software and built a successful career in Sydney’s nightlife industry, proving she didn’t need a degree to succeed.
However, the lockdown regulations of the COVID-19 pandemic dealt a body blow to the leisure and entertainment industry and the restless Rita was soon in search of an alternative that would further feed her hunger for entrepreneurial ventures.
Remembering a trip to Japan and her experience of the Asian version of the American treat in the Land of the Rising Sun inspired her to start Mochi Donuts. What followed the launch of the brand was six months of stress, late nights, early mornings together with a business partner who added value to her budding enterprise.
It was a journey that was worth every tear and bead of sweat. Today Mochi Donuts is the darling of the startup community, a favorite of consumers in Sydney and a company that is growing rapidly through a budding franchise network.
Lessons Learned
For Rita, the lessons from her entrepreneurial journey have been learned through grit and determination, and they are applicable to any motivated individual contemplating diving into the startup environment.
“When I jumped head first into the startup environment I quickly learned that it wasn’t what many success stories tell you. I’ve seen countless articles about how reaching the pinnacle of success has changed someone’s life. But the journey can be hard, especially if you start out on your own.”
Rita overcame numerous hurdles while building Mochi Donuts (and other entrepreneurial projects), but some stand out as being transformative.
Book learning only gets you so far: “One of the reasons I left university was I was finding the coursework outdated and not really focused on real-world scenarios. I’m less interested in cash flow statements and balance sheets than I am in how to raise capital and network. I can find a professional to do my books. That’s not to say that a university degree isn’t useful, I just found that living the experience gave me more applicable skills.”
Find the right partners: “Right at the start of my journey I made the rookie mistake of falling for the sales pitch ‘Don’t worry, we can help you set up your business, just pay us X, and there’s no need for a contract.’ I was naive and that didn’t end well. I’m lucky enough to now have a partner who shares my vision and passion, but my advice is to vet potential partners very carefully and get everything down in writing.
Mentors are key: “I could never have done this alone. Thankfully I was lucky enough to find high-level coaches and mentors that helped me accelerate the growth of my company. The startup community is very welcoming and there are many entrepreneurs who have incredible experience, build and leverage your network.”
Find the right investors: “If rapid growth is your aim, you can’t do it alone. As a startup, you’re focused on staying afloat and, in Mochi Donuts’ case, keeping the donuts baking. Ensure your facts and analysis are solid. Also, vet potential funders carefully—it’s tempting to focus on the money, but a funding relationship is long-term.”
According to Rita Kim, her success is based on a simple philosophy, ‘“If it doesn’t work, pivot and try again. You only fail if you give up.”
To learn more about Rita Kim, visit her personal website, or find out more about the Mochi Donut secret recipe for franchise success at the company website.
