How I Turned My Last $5 to $10,000,000
2,007,582
Published 2023-07-24
Starting a cupcake business? There’s no better place to get savings on tools like Canva, Wix, Vistaprint & many more: www.elevate.store/upflip/2
Mignon started The Cupcake Collection in the midst of the 2008 recession. She was experiencing a downturn of her own, and used just about the last $5 to her name to buy ingredients for cupcakes. Mignon wasn’t a baker, but she had her grandma’s cupcake recipe and a will to succeed. By the end of that first week she’d turned $5 into $600 and the growth snowballed from there.
One way Mignon made a name for The Cupcake Collection was by starting the Cupcake Bus, the first mobile cupcake seller in the Nashville area. In this interview, she talks about how she got that idea and why it was so instrumental in growing her baking business. She’ll also share how she found the first customers for her cupcakes and built her team—all without going into debt or taking out any loans.
After the success of her first shop, Mignon opened a new location in New Orleans. This new location was an opportunity for growth but it also brought new challenges. She explains how she overcame those challenges and the lessons she learned along the way. One thing Mignon has done from the start is listen to her customers and team, and she shares how that feedback has helped her grow her business to such impressive heights.
If you want to learn more about getting started in the food industry, check out some of our past interviews:
Bakery Business Rakes Huge Profits (INSANE How Much It Makes) ►
• Bakery Business Rakes Huge Profits! (...
How to Make $1.7M/Year in Restaurant Business ►
• How to Make $1.7M/Year in Restaurant ...
Resources
www.thecupcakecollection.com/ - Learn more about the Cupcake Collection on their website
www.amazon.com/dp/B0BV7G8F7C - Mignon’s memoir, Made from Scratch: Finding Success without a Recipe
www.upflip.com/academy - Start, Build & Grow Your Business
www.upflip.com/courses - Get step-by-step guidance to start a business with UpFlip’s courses
www.upflip.com/newsletter - Subscribe to the UpFlip newsletter to get insights delivered straight to your inbox
www.upflip.com/equipment-list - UpFlip's Premier Equipment List
Timestamps:
00:00 - START
00:43 - Meeting Mignon
03:46 - How many cupcakes per day?
05:11 - Biggest challenges
06:14 - Cupcake truck
06:32 - Marketing strategies
08:13 - Fan Blitz
09:43 - Team management
11:21 - New Orleans store
12:51 - Marketing with no money
14:42 - Profit margins
15:40 - Finding motivation
17:14 - Creating unique value
18:10 - Learning the business
18:55 - Mindset
20:15 - Taking risks
21:59 - The power of faith
23:57 - Balancing business and family
24:58 - Getting started in your 30s (or older)
#cupcake #cupcakes #baking
All Comments (21)
-
Check out www.upflip.com/ to find proven blueprints for starting or growing your business.
-
That lady that gave her that order of 600 cupcakes is a real one. How amazing she is.
-
He missed a very crucial thing she said. She didn't say make your employees feel appreciated, she said give them a piece of ownership. Make them feel like owners - by having stakes in decisions, stakes in making profits, and shares of the profits. I love how she doesn't see herself as being a benevolent boss who provides jobs, She sees this is a means for everyone to share in the come up. Her humility is awesome... AND profitable.
-
I'm over here in tears because I paused on my baking business because I thought that wasn't good enough because of competition fear. I have people still asking when am I going to start back up heavy and I get fearful. This video gave me the inspiration to open my business again. I just want to hug her.
-
This woman has taught me so more in 25 min than what my professors can in 3 hours
-
"Cause I believe all you have is all you need to get you from where you are to where you want to be." Those are words to live by.
-
We used to be neighbors and I got to try many cupcakes , her and her husband family were so sweet to me when I was a single mom alone in Nashville ! Go Mignon Go!! ❤
-
I was at the same point once, having almost nothing. But then I tried some dropshipping and got into it just like a side hustle. To be fair, it went better than I thought. I left my regular job after half a year because I was already earning at least 15000$ per month from dropshipping :) Remember that consistency, strong will and hard work (with a little bit of winnerzila of course) always pay off at the end.
-
Joy is the secret ingredient and I can see it radiating from this woman. Just an awesome message. Well done!
-
As a previous business owner I agree when you treat your employees good they look after you!
-
This woman is an inspiration. It's these examples of the black community that we need to see more of and should be our role models instead of rappers and "OGs"
-
She is correct, start where you are. I remember day when I have no money to ride the bus to the Business Assistance Center so I could have access to computers and other resources, so I would walk five miles in rain, cold or heat to get there. I started with what I had, my health and a desire to succeed.
-
The first time I met Ms. Mignon I cried like a baby. Her story opened my eyes to believe in my craft and to not give up. She is an inspiration and I'm blessed to have been in her presence!
-
So encouraging! My greatest takeaway is that faith works like money. That blessed me. God bless this woman for her diligence and making a path for others!
-
These are THE best cupcakes!! I've been a happy customer in Nashville since 2010. Mignon is awesome!
-
My 11 year old daughter and I are growing our beverage business. This woman's story is inspirational!
-
"I believe that every stupid thing you ever had to do is taking you from where you are to where you want to be." I burst into tears of joy! What a wonderful summation of having faith in life...and in yourself!
-
She’s so amazing, on all levels: entrepreneur, boss, provider for her purchasers, and a damn good human!❤
-
Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.And Ms Francois Knows That you can see she knows and it shows by how successful she is
-
a important lesson here is to remember that when u start up people will not only not believe in you but they will even laugh at you and u need to drown that out and stay cinsistent. her resilince is what got her this far
