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CANTON, Mass. -- 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 now 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 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 quick-service restaurant industry, the company said in a statement.
"Dunkin' Donuts is excited to expand its footprint in and around Nashville with the opening of these new restaurants," said Grant Benson, vice president of franchising and market planning, Dunkin' Brands Inc. "Our secret to success is our passionate franchisees who provide a high-level of customer service to our guests every day, and we're confident both groups will cultivate lasting relationships in their respective communities."
To drive its expansion efforts, Dunkin' Donuts has aligned its strategy to support the growth opportunities and consumer needs of individual markets, it said. 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.
Building a solid network of stores within a market enables Dunkin' Donuts to invest in a distribution model that provides a consistent, high-quality product guests expect "in the way and on the way" of their daily routines, the company said. To keep the brand fresh and competitive, Dunkin' Donuts offers flexible concepts for any real estate format including free-standing restaurants, end caps, in-line sites, gas and convenience, travel plazas, universities and other retail environments.
The fast feeder has more than 9,000 restaurants in 31 countries worldwide. In 2009, Dunkin' Donuts' global system-wide sales were more than $5.7 billion.