Dunkin' Donuts has signed agreements with two franchisees to develop seven new restaurants in Tennessee over the next several years. Dunkin' Donuts development throughout Tennessee is part of a steady and strategic growth strategy, which includes expanding in existing markets while entering new cities across the country to help drive the leading coffee and bakery chain's growth.
Existing Dunkin' Donuts franchisee, Sweet Liberty LLC, led by Keith Deerkoski and Allen Brown, will open five restaurants in Nashville between 2012 and 2016. They currently operate five units in Western and Northern Nashville. Additionally, Jim and Athena Skellion will develop one restaurant in Cookeville and one in Crossville, with the first one also opening in 2012.
During the first half of 2010, Dunkin' Donuts opened 338 net new locations worldwide, with 75 of those new restaurants opening in the United States The company also signed 72 new domestic development commitments, continuing to hold its spot as one of the fastest growing brands in the QSR industry.
To drive its expansion efforts, Dunkin' Donuts has aligned its strategy to support the growth opportunities and consumer needs of individual markets. As a result, the company continues to expand with single and multi-unit opportunities with no minimum unit requirements.
Ideally, franchisees should possess a minimum net worth of $500,000 and liquid assets of at least $250,000, but financial qualifications will vary based on the opportunity available by market. This evolution of Dunkin' Donuts' franchise sales effort enables the brand to expand in markets more aggressively, while balancing its market penetration and maturity.
