Navigating the world of corporate layoffs is a difficult challenge, especially for those whose professional experience and career path have been primarily tied to a single industry or company. With so many potential opportunities out there, many job seekers find themselves asking, “What’s the best route for my next move?”
For those interested in the franchise industry, the Dunkin’ franchise could be the perfect choice. Franchising with Dunkin’ provides those looking for a career change with a unique and potentially profitable small business opportunity. The following questions are some of the most frequently asked questions about the Dunkin’ franchise.
What is Dunkin’?
Dunkin’ is a popular donut and coffee chain dating back to 1950 when the first store opened in Quincy, Massachusetts. Today, it is one of the world’s leading quick-service restaurant brands, with more than 12,800 points of distribution in 46 states. Its menu includes beverages, donuts, breakfast sandwiches, wraps, and more.
How much do I need to invest?
The franchise fee for a Dunkin’ franchise is typically around $40,000, although the cost could be higher in certain locations. Aside from the franchise fee, you’ll also need to have access to an additional $250,000 to $1.2 million in liquid capital to cover the initial start-up costs and build out of your store. Additionally, Dunkin’ also requires all franchisees to have at least $75,000 in liquid cash available for working capital and liquidity.
How do I get started?
The first step towards getting started with a Dunkin’ franchise is to review the qualifications necessary to become a franchisee. Once you’ve determined that you meet those qualifications, you can fill out an application on their website, which will start the process.
After submitting the online application, applicants will be contacted by one of Dunkin’ franchises professionals for an initial conversation. The focus of this conversation is to get a sense of the applicant’s commitment and if they will be a good fit for the Dunkin’ franchise system.
From there, applicants will be asked to complete an official application, submit financial documentation, and make a non-refundable $25,000 deposit.
How do I choose the right location?
Dunkin’ offers its franchisees a variety of options when it comes to choosing a location.These include:
– Free-Standing Restaurants: These restaurants have their own entrances and seating areas.
– Nontraditional Venues: These usually include airports, supermarkets, college campuses, and truck stops.
– “Kiosks” or “Carts”: These are Dunkin’ locations placed in existing establishments.
When picking the perfect location, you need to consider a variety of factors such as foot traffic, visibility, competition, and the initial costs involved in building the store.
Do I get any ongoing support from Dunkin’?
Yes, Dunkin’ provides an extensive support system for franchisees. This includes an operator manual, training, access to a state-of-the-art point-of-sale system, marketing and advertising materials, and ongoing operational and business advice.
What are the benefits of franchising with Dunkin’?
The Dunkin’ franchise opportunity provides an excellent income potential for those who invest in it. Franchisees can also take advantage of its strong and well-known brand, recognizable logo, and loyal customer base.