New England-based Dunkin' Donuts has been steadily climbing up the rankings of the country's most successful franchises: they've risen to #2 on Entrepeneur.com's list of top franchises for 2007. You can be a part of this success by starting your own Dunkin' Donuts franchise.

Dunkin' Donuts has over 5,500 franchise locations in the US and is actively looking for new locations. As with most franchise opportunities, though, opening a Dunkin' Donuts franchise requires more than just commitment and hard work.

Location, location, location
While you may be able to point to a Dunkin' Donuts franchise near you that always seems busy, there's no guarantee that your franchise will be that successful. First, you'll have to find a viable location. Dunkin' Donuts provides more flexibility than many franchises, since they can operate as stand-alone buildings, in strip malls, as free-standing kiosks, or even located completely within larger stores.

However, finding a suitable spot to open a new Dunkin' Donuts can be a real challenge. You'll need to consider real estate costs, foot and vehicle traffic patterns, nearby competitors, and zoning restrictions. Locating your franchise is a job that may require you to get help from a franchise consultant, commercial real estate professional, or even from the Dunkin' Donuts corporation.

Do you have what it takes to operate a Dunkin' Donuts franchise?
As with any franchise, you'll have to demonstrate to the franchisor that you have both the skills and the capital to make your new Dunkin' Donuts franchise a success. A failed franchise is a risk to the corporate brand as well as a drain on their time, so the corporate franchise board is looking for new franchisees that have a high probability of success.

Opening a franchise requires a significant investment. In addition to a franchise fee of $40,000 to $80,000, you'll have to have at least $750,000 in liquid assets available to cover the costs of startup: building out the store, buying equipment, hiring workers. The Dunkin' Donuts franchise support team can help you through these steps, but you need to provide the capital.

In addition, they'll look at your experience in the industry. The quick service restaurant (QSR) industry is ultra-competitive and fast-paced. If you don't have previous experience managing or operating a QSR, you're unlikely to get approval to open a Dunkin' Donuts franchise.

If a Dunkin' Donuts franchise seems like it might be a little much, there are many other lesser-known food and beverage franchisors out there. You should consider working with a franchise agent to find the right option: franchise brokers can assist you in choosing the right business model for your situation, as well as help negotiate with the corporate parent when needed.