An unusual business model….that’s Kwik Trip stores headquartered in Lacrosse, WI. What makes the company unusual is that they are vertically integrated….they produce their own foods including ice cream….and a large bakery for their “glazers” donnuts.
Another unique feature is that Kwik Trip advertises bananas at $.38 / lb. as a traffic generator. Kwik Trip is family owned with sales of $3.4B and operates in WI, MN, IA . All stores within a 300 mile range of Lacrosse.
While there are many of convenience store chains….Kwik Trip is one of a few leading the industry. The take-a-way from the story is:
- They are defining what the convenience store of the future should look like
- They want to be ahead of the curve in future products/services
- They project that in 2030 their wholesale business will be significant
- They control their expansion
- Employee ownership is part of their structure
Discovering companies like Kwik Trip and then learning from them is worthwhile for any business/organization.