For my franchise, I chose Dunkin’ Donuts. I did this because
I am an avid Dunkin’ drinker. Also because I feel that it is the perfect
franchise for a first time owner to set up. This is because of many things.
They have a company person that is there to help you every step of the way,
from construction, to opening, to running the business. The market is very open
and other than New England has many places just waiting for people to open a franchise.
They are in fact setting up to approve many new restaurants in many new areas.
However, you will have to be observant of competitors such as Krispy Kreme who
are also expanding.
The
Franchise free for Dunkin’ Donuts is somewhere in between, $40,000-$80,000,
depending on location and if it will be traditional or non-traditional. There is
also a royalty fee of 5.9%. According to Dunkin’ there is a total investment of
$255,700-$1,100,000. This at first seems like a lot of money, but Dunkin’
Donuts is a very successful and profitable business that should be able to make
all of that money back in no time compared to other franchises, or a company
that you start from scratch.
This may seem like too much to handle, but
with the exception of financing the start- up, the company does support the
owner in many ways. In addition to the team that helps the new owner that I mentioned
before that helps run and build the franchise. There is also so much that has
already been set up. Much of the marketing has been done and it has 94% product
awareness, and there is already technology set up for the internet and for
phones that will further help your franchise’s success and marketing. The higher-ups
even set up a forum that allows owners to provide feedback, be heard, and be proactive
in their franchise and products. The new owner also has nothing to worry about
with training of themselves or their employees because again Dunkin’ Donuts has
all set.
I think
Dunkin’ Donuts would be a very good choice for a new franchise start-up.
Stephen,
ReplyDeleteI also used to drink a lot of Dunkin Donuts coffee, however I don't drink it at all anymore. I do not know if you are local, so you may not know of this place, but there is a coffee shop in Oxford named N&Js. In my opinion, everything at N&Js is way better then things at Dunkins. Dunkins is a very successful franchise, especially in New England though, so I also think that it would be a good franchise to start. The brand recognition that you would get would be unbelievable, since everybody knows Dunkin Donuts. Even though Krispy Kreme is a competitor of Dunkins, I think that maybe Starbucks may be a bigger threat. It seems that people are either avid Dunkins people, or avid Starbucks people. The help that they give to the franchisors is extremely helpful, and would be better for people who didn’t want much marketing responsibility.
Stephen,
ReplyDeleteI am also a loyal customer of Dunkin Donuts. I was interested to read about this franchise because it is so popular and successful. I think it would be a hard franchise to start financially, but agree once you have it established, it will quickly make the money back that you invested to start it up. One positive thing about this franchise is that the marketing is basically done for you and that it is such a widely known business you are almost guaranteed success. Also, I think it’s great that they have someone to help open the franchise. If I were to start a franchise this is one that I would definitely be interested in starting!
Stephen,
ReplyDeleteDunkin Donuts is one of my favorites! I try to limit myself but I find myself their often getting a bagel or donut and a coffee coolata before class on most days. Dunkin Donuts is a very successful franchise. They are located just about everywhere. In fact they have three in my town. Although Dunkin Donuts is very successful there are a lot more places that are the same and just as popular like Starbucks or bakery’s that they have everywhere. I think that it is great to have a partner when opening a franchise, doing something like this alone is tough because it involves a lot of money. I agree with that fact that many companies do need to watch out for competitors. Just like every other business, they are expanding. In my opinion I think Dunkin Donuts is the most valuable franchise around.
-Rachel
I think Dunkin Donuts is definitely one of the best franchises out there. I don’t think I could have made it through half my classes in high school if I didn’t have Dunkin Donuts. I also used to work for a Dunkin Donuts back in New York and it was very fun. There are tons of combinations you can use in your coffee. I definitely turned into a coffee addict after working there. While working for Dunkin Donuts I definitely saw how helpful Corporate was to their franchises with things such as training employees. Although I do love Dunkin Donuts I do agree that it has major competition like Krispy Kreme, and McDonalds. Because Dunkin Donuts is so well known I feel it would definitely be worth the starting fee money, and you would start making a profit fairly quickly. Even in a small town like Dudley Massachusetts everyone knows what Dunkin Donuts is, and a lot of people buy coffee there.
ReplyDelete-Siobhan
I can say that I am not a frequent Dunkin Donuts customer but I do think they are the most successful franchise over Starbucks and Krispy Creme. I occasionally get a bacon, egg and cheese sandwich and a iced coffee. I feel that if I start making it a routine I will get addicted and have no money. Dunkin Donuts has done a great job with advertising using athletes that you would not have to do much if you started one. I do agree that it would be a bit expensive to start up, but still think you would do all right as a franchisee. You might consider a partner to help pay to get started as well. If you think of it this way caffeine is addictive, people are not going to stop drinking coffee anytime soon. The only way i see this being a problem is the location and even then you are still going to do okay because it's Dunkin Donuts.
ReplyDeleteI love Dunkin Donuts. There coffee, hot chocolate and donuts are too goo. I feel that this would be a great franchise to get into because of the success it has had since opening up. They have done a great job advertising throughout the New England area with all the sports athletes. A few athletes they have done commercials with are David Ortiz, Adrian Gonzalez, and Carl Crawford. To me, this was a great idea putting them in commercials because the New England area loved them and know them because of watching the Boston Red Sox. I think the Krispy Crème franchise is not the biggest competitor to Dunkin Donuts though. I feel that Starbucks is because it is better known around the country. In my opinion, I would get into the Dunkin Donuts franchise in a heart beat because of all the success it has had and you could make a good living off a franchise like this.
ReplyDelete