Starting a Dunkin’ franchise can be an exciting new venture, but also a daunting one. There are many aspects to consider —from researching potential locations, to understanding the costs associated with franchising Dunkin’. The International Franchise Professionals Group (IFPG) is proud to offer guidance to aspiring business owners navigating the franchising process. Here are the most frequently asked questions on Dunkin’ franchise, for prospective owners to consider before taking the plunge.
1. How Do I Become a Dunkin’ Franchisee?
The first step is submitting your franchise application. No matter where you are in the process, you can get started on the Dunkin’ website by creating a profile. This provides an overview of the franchise investment process and an overview of the qualifications and criteria to become a Dunkin’ franchisee. A license agreement will define the terms of the Dunkin’ franchise arrangement.
2. How Much Does A Dunkin’ Franchise Cost?
The total investment to purchase and open a Dunkin’ franchise varies from location to location, as real estate, construction, and labor costs vary. The estimated total investment ranges from $239,500 to $1,567,000. This range includes the initial franchise fee of $40,000 to $90,000. The franchise fee and estimated total investment are for a single Dunkin’ restaurant.
3. How Much Do I Need to Invest?
The amount needed to open a Dunkin’ franchise must cover a variety of costs. New franchisees must have sufficient money or credit to cover the estimated total investment, as well as operational costs. These costs depend on the size of the franchise and the market location. During the development process, both Dunkin’ and the franchisee will need to review cash flow.
4. What are the Benefits of Owning a Dunkin’ Franchise?
The primary benefit of owning a Dunkin’ franchise is the chance to own your own business while having access to established brand and systems. Franchisees have access to Dunkin’s proprietary recipes, products, and equipment. Franchisees benefit from the marketing and advertising of the brand, gaining significant brand recognition even before the store opens. Additionally, franchisees receive help from Dunkin’s business consultants.
5. What Locations Benefit From a Dunkin’ Franchise?
The ideal location for a Dunkin’ franchise depends on the local market. Franchisors consider the number of people living in the surrounding area, the average income and occupation of the local citizens, and population density. Franchisors also look at the targeted industries that operate in the area, such as schools, hospitals, or universities.