Dunkin’ Donuts, has signed a multi-unit store development agreement with Pace Development LLC for 15 new restaurants in Louisville, Ky.
The first two locations are anticipated to open in 2011 and the remainder by 2016. Dunkin’ Donuts’ development in Louisville 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.
Scott Morris, president of Pace Development LLC, and his partners have extensive experience in owning and operating multiple franchises including Subway restaurants. The company has experience in developing real estate throughout Kentucky and Indiana.
“We are proud to expand our franchise portfolio to include Dunkin’ Donuts and look forward to playing an important role in the daily lives of people who live and work in the Louisville community,” Morris said.
The 15 unit Louisville deal sells out the market for future franchise development but to complement the company’s expansion, Dunkin’ Donuts’ is also seeking new and existing franchisees to develop restaurants in Evansville, Ind., Nashville, Tenn. and Ottumwa, Iowa.
“Dunkin’ Donuts is excited to expand its footprint in Louisville with Pace Development,” said Grant Benson, CFE, vice president of franchising and market planning, Dunkin’ Brands, Inc. “Our secret to success is our passionate franchisees that provide a high-level of customer service to our customers everyday, and we’re confident Scott and his team will grow and prosper in Louisville.”
In order to drive its expansion efforts, Dunkin’ Donuts has aligned its strategy to support the growth opportunities and consumer needs of individual markets. Franchising opportunities range from large store development agreements to a minimum of one or two units. 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 development effort enables the brand to expand in markets more aggressively, while balancing its market penetration and maturity.
Additional franchising opportunities are also available in a variety of cities in the U.S. within the Midwest, Mid-Atlantic and the Southeast. Opportunities exist throughout Florida, Georgia, Alabama, Missouri, Tennessee, Ohio and Michigan, among other states.
In a press release, Dunkin’ noted that building a solid network of stores within a market enables it to invest in a distribution model that provides a consistent, high-quality product customers expect “in the way and on the way” of their daily routines. In an effort to keep the brand fresh and competitive, Dunkin’ Donuts’ Portfolio of Development Options offers flexible concepts for any real estate format including free-standing stores, end caps, in-line sites, gas and convenience, travel plazas, universities, as well as other retail environments.
According to Benson, “Dunkin’ Donuts is proud to energize Americans and keep the honest, hard-working, value-driven people of this country running every day. Our recent and ongoing menu enhancements meet the needs of today’s on-the-go consumers, moving Dunkin’ Donuts beyond breakfast with high-quality food and beverage items available all day.”
Historically a doughnut and hot coffee chain, Dunkin’ Donuts has expanded its offering to include frozen and iced beverages, a full bakery assortment including bagels and muffins, breakfast sandwiches, and an all-day Oven-Toasted menu which includes flatbread sandwiches, hash browns and buttermilk biscuits. The new platform marks the most significant change to Dunkin’ Donuts product lineup since the company launched espresso-based beverages in 2003.