Dunkin' franchise
A franchisee operates a Dunkin' restaurant selling donuts, coffee, espresso, bagels, muffins, croissants, other bakery items, breakfast sandwiches and other food and beverage products, at a freestanding, shopping-centre/storefront, gas-and-convenience or non-traditional location.
Manager-run permitted Disclosed
- Source
- 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC
- Document
- FDD 2026, issued 2026-03-26
- Item
- Item 15
- Page
- PDF p. 89
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 640454
your personal "on-premises" supervision is not required under the terms of the Franchise Agreement
Item 15 says the franchisee must devote continuous best efforts and should expect to perform substantial manual labour and work a full shift every day early in the term, but that personal on-premises supervision is not required. The on-premises manager must be trained to the franchisor's requirements and may not have an interest in a competitive business; the franchisor recommends but does not require that the manager hold an ownership interest. Item 11 requires the restaurant always to be managed by at least two people who have completed initial training, one of whom must be the franchisee or another owner.
What stands out
- Item 7 freestanding restaurant total: $532,400 to $1,832,500, including a $40,000 to $90,000 initial franchise fee set by Development Area Type. Real estate purchase is excluded and can add $100,000 to $1,200,000 or more.
- Ongoing fees are 5.9% of gross sales (Continuing Franchise Fee) plus 5.0% (Continuing Advertising Fee, 2.5% at SDO locations), a $340 annual technology subscription and 1.4% of loyalty-programme sales.
- Item 19 reports fiscal 2025 gross sales for 7,010 franchised restaurants: average $1,372,069, median $1,297,694, range $65,354 to $6,007,706. No cost, expense or profit data is provided.
5 more observations
- Franchised standalone Dunkin' restaurants grew from 8,465 to 8,744 in fiscal 2025 (314 opened; 2 terminated, 24 not renewed, 55 ceased for other reasons). Franchised combo restaurants fell from 1,269 to 1,219.
- Item 12 grants neither an exclusive nor a non-exclusive territory under the Franchise Agreement; only a Development Agreement gives limited protection inside a Development Area.
- Item 15 does not require the owner's on-premises supervision, but Item 11 requires the restaurant always to be run by two people who have completed the initial training programme, one of them an owner.
- Item 3 discloses sixteen matters: four pending actions, three the franchisor began against franchisees in fiscal 2025, seven concluded matters and two involving affiliated franchisors.
- Item 20 projects 406 new franchised openings in fiscal 2026 with 229 franchise agreements signed but not yet open; 241 outlets transferred to new owners during 2025.
Things to verify
- Ask which Development Area Type a specific site falls in — that alone moves the initial franchise fee between $40,000 and $90,000.
- No first-year results appear in Item 19: every restaurant that opened during 2025 was excluded, and the reported units averaged 17 years of operation.
- Item 7 assumes a leased or landlord-developed site. Confirm land or rent cost, whether percentage rent applies, and how build-to-suit terms affect the low end of the building-cost range.
5 more questions
- Item 5 and Item 6 incentives and fee credits require signing by March 31, 2027 and meeting all eligibility conditions; get in writing which, if any, apply to a specific deal.
- Item 11 requires refurbishment and remodelling on dates fixed in the Franchise Agreement at the franchisee's cost; ask for those dates and the expected cost before signing.
- The cover page's 'Special Risks' statement on out-of-state dispute resolution does not match Item 17, which names Atlanta, Georgia courts and no arbitration. Have counsel check the actual agreement.
- Item 20's Table 3 totals do not foot in 2024 and 2025 because restaurants move between the standalone and combo tables; ask for a reconciliation if unit trends matter to the decision.
- No minimum liquidity or net worth requirement is disclosed in the reviewed document; ask the franchisor for its current financial qualification standards.
Category cost placeholders, not a forecast. This snapshot uses the default inputs; the calculator below updates when you edit them.
Evidence confidence: High. This describes source support, not investment quality. AI-extracted and machine-verified where stated; no human line-by-line review. Source and review record.
Read the full research overview
A Dunkin' franchisee operates a quick-service restaurant selling donuts, coffee, espresso, bagels, muffins, croissants, other bakery items and breakfast sandwiches. Dunkin' Donuts Franchising LLC, an Inspire Brands company based in Atlanta, has franchised the brand since 1955. At its fiscal year end on December 28, 2025 it reported 8,744 franchised and 36 company-owned standalone Dunkin' restaurants in the United States, plus 1,219 franchised Dunkin' and Baskin-Robbins combo restaurants tracked in a separate set of Item 20 tables and 4,242 franchised restaurants operating internationally.
Item 7 sets out four formats. The standard new freestanding restaurant runs $532,400 to $1,832,500, of which $40,000 to $90,000 is the initial franchise fee, fixed by the Development Area Type of the market rather than negotiated. A shopping-centre or storefront restaurant runs $443,000 to $1,333,500, a gas-and-convenience restaurant $216,400 to $1,065,500, and a non-traditional SDO restaurant $142,000 to $862,500. All four exclude the purchase of real estate, which Item 7 says can add $100,000 to $1,200,000 or more, and exclude government impact fees that can reach $87,000 in some markets; each assumes three months of additional funds. Continuing fees are 5.9% of gross sales plus a 5.0% advertising contribution (2.5% at SDO locations), a $340 annual technology subscription and a loyalty-programme contribution of 1.4% of loyalty sales. Items 5 and 6 describe conditional incentive programmes that phase the advertising rate down or grant lump-sum fee credits for agreements signed by March 31, 2027. No minimum liquidity or net worth requirement is disclosed in the reviewed source.
Item 19 is a historical gross-sales representation. Across the 7,010 franchised restaurants open for all of fiscal 2025 it reports an average annual unit volume of $1,372,069 and a median of $1,297,694, with a high of $6,007,706 and a low of $65,354; 45% of those restaurants met or beat the average. Traditional freestanding restaurants — the format matching the headline investment figures — averaged $1,584,319 across 3,169 units. The tables show no cost of sales, operating expense, margin or profit figure, and the sales data is unaudited. They also exclude the 314 restaurants that opened during 2025, 1,261 closed for extended periods, 111 self-serve and 25 part-time locations, 36 Multi-Brand locations, the 81 restaurants that closed during the year and all 1,219 combo restaurants; the reported units had operated for an average of 17 years, so nothing here shows how a new restaurant performs.
Item 20 shows the franchised standalone base growing from 8,087 at the start of 2023 to 8,744 at the end of 2025, a net gain of 657. In fiscal 2025 alone 314 franchised restaurants opened, 2 were terminated, 24 were not renewed and 55 ceased operations for other reasons, while 241 outlets transferred to new owners. The franchisor projects 406 new franchised openings in fiscal 2026 against 229 signed but unopened agreements. Combo restaurants moved the other way, falling from 1,269 to 1,219. Item 3 discloses sixteen matters, including four pending actions, three the franchisor began against franchisees during fiscal 2025, and concluded state consumer-protection settlements by parent Dunkin' Brands; Item 4 discloses no bankruptcy. Item 12 grants no territory of any kind under the Franchise Agreement, and Item 17 sets a 20-year term, a 24-month five-mile post-term non-compete and Atlanta, Georgia as the forum.
View ratings and their supporting evidence
Transparent ratings
How these are computedEach dimension is scored 1–5 from published formulas. Missing data yields “Not enough evidence to rate”, never a low score. There is no composite score by design.
How the system has performed, computed from the disclosed Items 7, 19 and 20. Figures a documented material source inconsistency puts in doubt are excluded, and the dimension shows “Not rated”.
Inputs
- Franchised outlets 8087 → 8744 (Item 20, Table 3)
- Thresholds: ≥15% → 5; 5–15% → 4; 0–5% → 3; −5–0% → 2; below −5% → 1
Inputs
- Attrition = (terminations + non-renewals + reacquisitions + ceased-other) ÷ start-of-year franchised units, averaged over 3 fiscal years
- Thresholds: <2% → 5; 2–4% → 4; 4–6% → 3; 6–10% → 2; >10% → 1
Inputs
- AUV $1,372,069 (disclosed) ÷ midpoint investment $1,182,450 = 1.16×
- Thresholds: ≥2.0 → 5; 1.5–2.0 → 4; 1.0–1.5 → 3; 0.7–1.0 → 2; <0.7 → 1
How much this brand’s FDD discloses, and how well-supported our data on it is. This measures transparency, not business performance — a strong business that discloses little scores low here and stays unrated above.
Inputs
- Item 19 present (+1)
- Average plus median or a distribution (+1)
- Population 80% of franchised units, clearly described (+1)
- Multi-year or cohort data (+1)
- Franchisor Track Record
- Franchising 71 years (since 1955) · 8,780 outlets · Item 3: 19 matter(s) disclosed · Item 4: none disclosed
- Multi-Unit Scalability
- A franchisee wanting more than one restaurant signs a Development Agreement covering a Development Area, with the number of restaurants, the term and the dev… · Manager-run permitted
- Operational Intensity
- Manager-run permitted
Initial investment
FDD Items 5 and 7Format shown: Freestanding Restaurant (Item 7 Table A) — newly constructed or retrofitted standalone building with no shared walls
$532,400–$1,832,500 total initial investment. Excludes real estate purchase. Includes 3 months of additional funds.
View full investment breakdown — Items 5 & 7
| Initial franchise fee (the named Item 5 fee only) | $40,000 Disclosed
Disclosed as 'Initial Franchise Fee (IFF)'. Range reflects the restaurant's Development Area Type (1-6, by geographic market), not a franchisee discount; Gas & Convenience, SDO, and Combo Restaurant types use different (pro-rated or additive) formulas. $90,000 Disclosed
Disclosed as 'Initial Franchise Fee (IFF)'. Range reflects the restaurant's Development Area Type (1-6, by geographic market), not a franchisee discount; Gas & Convenience, SDO, and Combo Restaurant types use different (pro-rated or additive) formulas. |
|---|---|
| Other required initial payments to the franchisor (Item 5) |
|
| Total Item 5 payments to franchisor/affiliates | $50,340 Derived
$100,340 Derived
|
| Total initial investment — low | $532,400 Disclosed
Subtotals of $40,000 + $462,500 + $29,900 foot to the stated total. |
| Total initial investment — high | $1,832,500 Disclosed
Subtotals of $90,000 + $1,465,500 + $277,000 foot to the stated total. |
| Midpoint of range | $1,182,450 Derived
|
| Real estate purchase included? | No — assumes a leased site |
| Additional funds assumed | 3 months |
| Required liquid capital | Not disclosed in the reviewed source Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC; we do not fill gaps with estimates or third-party figures. No minimum liquid capital requirement appears on the cover pages or in Items 1, 5, 7, 11 or 15 of the reviewed document. |
| Required net worth | Not disclosed in the reviewed source Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC; we do not fill gaps with estimates or third-party figures. No minimum net worth requirement for franchisees appears in the reviewed document. The only net-worth figure on the cover pages is the Michigan escrow provision, which concerns the franchisor's own financial statements. |
Table A (Freestanding Restaurant) is treated as the primary format: a newly constructed or retrofitted standalone building sharing no common walls with third parties. The total excludes the purchase of real estate, shown only as 'Variable'; Note 6 says buying land can cost an additional $100,000 to $1,200,000 or more, and the low end of the building-cost range assumes a build-to-suit lease in which the landlord bears most development cost. Also excluded are government impact fees (Note 5: can be $87,000 or more in some markets), performance bonds, the required delivery vehicle (Note 12), and any Baskin-Robbins or other-brand costs at Combo or Multi-Brand locations. The total assumes 3 months of additional funds ($0 to $108,000). All four Item 7 tables foot to their stated totals. The $340 initial access fee for The Center, payable to the franchisor at signing under Item 5, is not a separate Item 7 line; the cover page states that $40,340 to $112,740 of the freestanding total is payable to the franchisor or an affiliate.
Item 7 line items (15)
| Expenditure | Low | High |
|---|---|---|
| Initial Franchise Fee — Lump sum on signing the Franchise Agreement; set by Development Area Type. | $40,000 | $90,000 |
| Building Costs — Roughly $83–$566 per sq ft over 750–3,100 sq ft; excludes purchase of the real estate. | $180,000 | $600,000 |
| Site Development Costs — Includes the optional $1,200 site design fee and $1,200 kitchen layout design fee payable to an affiliate. | $13,000 | $350,000 |
| Additional Development Costs — Architectural, engineering and legal fees. | $12,000 | $90,000 |
| Equipment, Fixtures & Signs — Includes tax and delivery estimated at 10%. | $189,000 | $300,000 |
| Restaurant Technology System — 2 to 4 POS systems plus required technology; drive-thru equipment included. | $65,000 | $118,000 |
| Licenses, Permits, Fees and Deposits — Excludes government impact fees, which Note 5 says can be $87,000 or more in some markets. | $3,500 | $7,500 |
| Real Estate Costs — Shown as 'Variable'; not included in the total. Note 6 says buying the land can cost an additional $100,000 to $1,200,000 or more. | — | — |
| Opening Inventory | $8,000 | $20,000 |
| Miscellaneous Opening Costs — Pre-opening training payroll, utility deposits, petty cash and similar items. | $9,500 | $70,000 |
| Uniforms | $400 | $3,000 |
| Insurance — Includes $2,000,000 per occurrence general liability and $1,000,000 employment practices liability. | $10,000 | $16,000 |
| Training Related Expenses — Assumes 2 people attending for 4 to 8 weeks; excludes wages paid to employees in training. | $2,000 | $50,000 |
| Marketing Start-Up Fee — At least $10,000 of opening promotional activity is required under Item 5. | $0 | $10,000 |
| Additional Funds — First 3 Months of Operation | $0 | $108,000 |
Source for every row: the Item 7 estimated-initial-investment table of 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC (table begins PDF p. 53) — rows inherit the table's citation rather than carrying fifteen identical ones.
Other formats disclosed in Item 7 (3)
| Format | Low | High | Fee |
|---|---|---|---|
| Shopping Center / Storefront Restaurant (Item 7 Table B) | $443,000 | $1,333,500 | $40,000 |
| Gas & Convenience Restaurant (Item 7 Table C) | $216,400 | $1,065,500 | $10,000 |
| SDO / Non-Traditional Restaurant (Item 7 Table D) | $142,000 | $862,500 | $20,000 |
Ongoing fees
FDD Item 6Royalty
5.9% of gross sales Disclosed
- Source
- 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC
- Document
- FDD 2026, issued 2026-03-26
- Item
- Item 6 — Other Fees table — Continuing Franchise Fee (CFF)
- Page
- PDF p. 44
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 640454
The standard CFF for new Restaurants is 5.9% of Gross Sales.
Standard CFF for new restaurants is 5.9% of Gross Sales, payable weekly. Item 6 describes conditional credits rather than a lower rate: $125,000 per restaurant under the Standard incentive, $225,000 under the Strategic incentive, and Pacific Northwest credits of $25,000 plus a one-time $50,000 and $300,000 (2026–2027 openings) or $250,000 (2028 and later). VetFran gives $10,000 per restaurant up to $100,000. The Early Opening Incentive sets CFF at 0% from an early opening until the required opening date, up to 6 months. Credits do not apply to renewals, SDO locations, relocations or transfers.
Brand advertising fund
5% of gross sales Disclosed
- Source
- 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC
- Document
- FDD 2026, issued 2026-03-26
- Item
- Item 6 — Other Fees table — Continuing Advertising Fee (CAF)
- Page
- PDF p. 44
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 640454
5.0% of Gross Sales for new Dunkin' restaurants; 2.5% for restaurants at SDO locations. Paid weekly with the CFF into the Dunkin' Advertising and Sales Promotion Fund. Up to 20% of the CAF may be used for fund administration. Under the Standard incentive the effective rate is 2% through year 1, 3% in year 2, 4% in year 3 and 5% from year 4; under the Strategic incentive it is 2.4% through year 5, 3.4% in years 6–8 and 5.0% thereafter.
Local marketing
Not disclosed in the reviewed source Not disclosed
Not disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC; we do not fill gaps with estimates or third-party figures.
The reviewed FDD sets no continuing local advertising minimum. Item 5 and Item 11 instead require a one-time Marketing Start-Up spend of at least $10,000 ($5,000 for SDO locations) in connection with opening, re-opening or remodelling; if the franchisee does not run the programme the franchisor may require that amount to be paid to it or its vendors.
Core requirements shown separately; caps, credits and conditions may overlap. Check the full schedule for technology, cooperative, transfer and other charges.
View all recurring fees and conditions
| Royalty | 5.9% of gross sales Disclosed
Standard CFF for new restaurants is 5.9% of Gross Sales, payable weekly. Item 6 describes conditional credits rather than a lower rate: $125,000 per restaurant under the Standard incentive, $225,000 under the Strategic incentive, and Pacific Northwest credits of $25,000 plus a one-time $50,000 and $300,000 (2026–2027 openings) or $250,000 (2028 and later). VetFran gives $10,000 per restaurant up to $100,000. The Early Opening Incentive sets CFF at 0% from an early opening until the required opening date, up to 6 months. Credits do not apply to renewals, SDO locations, relocations or transfers. Standard CFF for new restaurants is 5.9% of Gross Sales, payable weekly. Item 6 describes conditional credits rather than a lower rate: $125,000 per restaurant under the Standard incentive, $225,000 under the Strategic incentive, and Pacific Northwest credits of $25,000 plus a one-time $50,000 and $300,000 (2026–2027 openings) or $250,000 (2028 and later). VetFran gives $10,000 per restaurant up to $100,000. The Early Opening Incentive sets CFF at 0% from an early opening until the required opening date, up to 6 months. Credits do not apply to renewals, SDO locations, relocations or transfers. |
|---|---|
| Advertising / brand fund | 5% of gross sales Disclosed
5.0% of Gross Sales for new Dunkin' restaurants; 2.5% for restaurants at SDO locations. Paid weekly with the CFF into the Dunkin' Advertising and Sales Promotion Fund. Up to 20% of the CAF may be used for fund administration. Under the Standard incentive the effective rate is 2% through year 1, 3% in year 2, 4% in year 3 and 5% from year 4; under the Strategic incentive it is 2.4% through year 5, 3.4% in years 6–8 and 5.0% thereafter. 5.0% of Gross Sales for new Dunkin' restaurants; 2.5% for restaurants at SDO locations. Paid weekly with the CFF into the Dunkin' Advertising and Sales Promotion Fund. Up to 20% of the CAF may be used for fund administration. Under the Standard incentive the effective rate is 2% through year 1, 3% in year 2, 4% in year 3 and 5% from year 4; under the Strategic incentive it is 2.4% through year 5, 3.4% in years 6–8 and 5.0% thereafter. |
| Required local marketing | Not disclosed in the reviewed source Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC; we do not fill gaps with estimates or third-party figures. The reviewed FDD sets no continuing local advertising minimum. Item 5 and Item 11 instead require a one-time Marketing Start-Up spend of at least $10,000 ($5,000 for SDO locations) in connection with opening, re-opening or remodelling; if the franchisee does not run the programme the franchisor may require that amount to be paid to it or its vendors. |
| Technology / software | $340/year Disclosed
$340 per restaurant per year for The Center, the franchisor's online learning platform; a matching $340 initial access fee is due at signing under Item 5. Item 7 Note 4 states that monthly and yearly POS maintenance and user fees are also required but does not state amounts. Item 11 notes vendor data-protection services costing $85 to $600 per restaurant per year. $340 per restaurant per year for The Center, the franchisor's online learning platform; a matching $340 initial access fee is due at signing under Item 5. Item 7 Note 4 states that monthly and yearly POS maintenance and user fees are also required but does not state amounts. Item 11 notes vendor data-protection services costing $85 to $600 per restaurant per year. |
| Advertising cooperative | Not disclosed in the reviewed source Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC; we do not fill gaps with estimates or third-party figures.
No rate exists to record: Item 11 states that there are currently no advertising cooperatives. Item 8 separately describes National DCP, LLC as a franchisee-owned purchasing and distribution cooperative that franchisees must join, and says there are otherwise no purchasing or distribution cooperatives. |
| Transfer fee | $12,500–$32,500 one-time Disclosed
Item 6 Note 6: $12,500 for a Dunkin' restaurant operated for less than 3 years; $12,500 plus a sales-based amount for a restaurant operated 3 years or longer — $5,000 under $400,000 of trailing 12-month gross sales, rising through $6,000, $8,000 and $12,000 to $20,000 at $1,400,000 or more, so $17,500 to $32,500. Combo restaurants: $20,000, or $20,000 plus $12,500 to $27,500 after 3 years. The fee is still payable if the franchisor exercises its right of first refusal. The Item 6 table and Note 6 describe which case carries the sales-based add-on differently; the figures here follow Note 6. Item 6 Note 6: $12,500 for a Dunkin' restaurant operated for less than 3 years; $12,500 plus a sales-based amount for a restaurant operated 3 years or longer — $5,000 under $400,000 of trailing 12-month gross sales, rising through $6,000, $8,000 and $12,000 to $20,000 at $1,400,000 or more, so $17,500 to $32,500. Combo restaurants: $20,000, or $20,000 plus $12,500 to $27,500 after 3 years. The fee is still payable if the franchisor exercises its right of first refusal. The Item 6 table and Note 6 describe which case carries the sales-based add-on differently; the figures here follow Note 6. |
| Renewal fee | Not disclosed in the reviewed source Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC; we do not fill gaps with estimates or third-party figures. Item 6 lists a renewal fee due on signing a renewal franchise agreement but gives the amount only as 'Varies' — the franchisor's then-current renewal fee. No dollar amount or formula is disclosed. |
| Royalty + ad fund (% of sales) | 10.9% Derived
|
Fee schedule (31 fees; 20 verified against the source, 11 single-pass)
Every recurring, conditional and one-time fee found in this FDD's Item 6 table (plus mandatory recurring costs disclosed in Items 7/11), each cited to its page and carrying its verification status: verified means two independent readings agreed or a tie-break re-inspection of the page decided it; single-pass means one reading captured it and it has not been independently confirmed (permitted only for fees that cannot move modeled economics — see the materiality rule). Amounts marked “not stated” are charged at then-current rates the FDD does not quantify and are never modeled as $0. This schedule is marked INCOMPLETE — see the note below.
| Fee | Amount | Frequency | Mandatory | Verification | Cite | Notes |
|---|---|---|---|---|---|---|
| Continuing Franchise Fee (CFF) | 5.9% of gross sales | weekly | Yes | verified (2-pass) | Item 6, p. 44 | Due Thursday for the 7-day period ending the prior Saturday. Standard/Strategic/Pacific NW incentive programs (agreements signed through 3/31/2027) give CFF credits ($125,000 / $225,000 / $25,000-$300,000) applied against future CFF, not a lower rate. Early Opening Incentive gives 0% CFF up to 6 months if you open before the required date. |
| Continuing Advertising Fee (CAF) | 5% of gross sales | weekly | Yes | verified (2-pass) | Item 6, p. 44 | Paid weekly with the CFF into the Dunkin' Advertising and Sales Promotion Fund; up to 20% may fund administration. Standard Incentive phases CAF at 2%/3%/4%/5% (yr1-4+); Strategic Incentive phases at 2.4%/3.4%/5.0% (yr1-5/6-8/9+). |
| Loyalty Program Contribution Payment (LCP) | 1.4% of gross sales | weekly | Yes | verified (2-pass) | Item 6, p. 45 | Mandatory for all franchisees via the Loyalty Program Participation Agreement (Exhibit J). Franchisee is reimbursed from the Loyalty Fund at National Average Product Cost for member reward redemptions. |
| The Center Annual Subscription Fee | $340 | annual | Yes | verified (2-pass) | Item 6, p. 44 | |
| Additional Training Fee | $4,000 | per event | No | verified (tie-break) | Item 6, p. 44 | Item 5 confirms the Initial Training Fee for the first 2 people is included in the IFF if the Restaurant is one of your first 5 Dunkin' Restaurants; payable for additional attendees, for Restaurants beyond the first 5, or if you or your employees must take or re-take initial training. Item 6 table row confirmed on PDF p.44; Item 5 'Training Fees' corroborates the $4,000 amount and the 2-person / first-5-Restaurants inclusion. |
| Training Cancellation Fee | Not stated | per event | No | verified (tie-break) | Item 6, p. 44 | Only applies if a scheduled training attendance is cancelled. Item 5 'Training Fees' repeats both tiers verbatim. |
| Site Design Fee / Kitchen Layout Design Fee | $1,200 | per event | No | single-pass | Item 6, p. 44 | Only payable if the franchisee requests the franchisor's affiliate prepare a preliminary site or kitchen layout, typically once per restaurant/remodel. [Listed by one verification pass only (A); not independently confirmed.] |
| Inspire Payment Services / billing and administrative service fee | 0%–6% of other | varies | No | verified (tie-break) | Item 11, p. 77 | 'You may be required ... to pay a service fee to us or a third party for billing and administrative services'; applies where approved-vendor purchases are billed through the franchisor's payment services. Item 6 (PDF p.44) lists 'Inspire Payment Services - Varies' and expressly points to Item 11; Item 11(14) on PDF p.77 supplies the 0%-6% range. |
| Taxes | Not stated | varies | Yes | verified (tie-break) | Item 6, p. 45 | Payable on demand when such a tax or fee is imposed. Item 6 Note 1 confirms the amount is collected 'as an additional Continuing Franchise Fee'. |
| Late Fee and Interest | 1.5% of other | monthly | No | verified (tie-break) | Item 6, p. 45 | Only on late payments; capped at the highest rate permitted by law if lower. |
| Renewal Fee | Not stated | one time | No | single-pass | Item 6, p. 45 | Payable upon signing the renewal Franchise Agreement, if the franchisee satisfies renewal conditions. [Listed by one verification pass only (A); not independently confirmed.] |
| Relocation Fee | Not stated | one time | No | single-pass | Item 6, p. 45 | Only upon request to relocate. [Listed by one verification pass only (A); not independently confirmed.] |
| Insurance | Not stated | annual | Yes | verified (tie-break) | Item 6, p. 45 | If you fail to obtain the required coverage, the franchisor may obtain it at your expense. Item 6 row on PDF p.45; coverage requirements from Item 7 Note 9. Calculator audit 2026-09-03: Item 6 gives no dollar figure for ongoing insurance and Item 7 Note 9 supplies only a one-time pre-opening outlay, so there is no disclosed floor to seed a requires_assumption line; unknown_amount correctly excludes it instead of silently modeling $0. (p. 45; "Insurance | Cost of obtaining insurance | As incurred") |
| Indemnification | Not stated | varies | No | single-pass | Item 6, p. 45 | Reimbursement for claims/liabilities relating to the Restaurant or Premises, or franchisee's debts/obligations. [Listed by one verification pass only (A); not independently confirmed.] |
| Transfer Fee - Dunkin' Restaurant | Tiered (base 12500%) (min $5,000) | one time | No | single-pass | Item 6, p. 45 | $12,500 flat if operated under 3 years; $12,500 plus the tiered gross-sales add-on above if operated 3+ years. Franchisor's exercise of its right of first refusal does not waive this fee. [Listed by one verification pass only (A); not independently confirmed.] |
| Transfer Fee - Combo Restaurant | Tiered (base 20000%) (min $12,500) | one time | No | single-pass | Item 6, p. 45 | $20,000 flat if operated under 3 years; $20,000 plus the tiered gross-sales add-on above if operated 3+ years. [Listed by one verification pass only (A); not independently confirmed.] |
| Fixed Documentation Fee | $2,000 | one time | No | single-pass | Item 6, p. 45 | Charged in lieu of the Transfer Fee for non-controlling-interest transfers, spouse/child transfers, and death/incapacity transfers to heirs. [Listed by one verification pass only (A); not independently confirmed.] |
| Development Agreement Transfer Fee (majority interest) | $10,000 | one time | No | single-pass | Item 6, p. 45 | Only upon transfer of a majority interest in a Development Agreement. [Listed by one verification pass only (A); not independently confirmed.] |
| Enforcement Expenses | Not stated | varies | No | single-pass | Item 6, p. 46 | Franchisee pays costs/expenses the franchisor incurs successfully enforcing the Franchise or Development Agreement. [Listed by one verification pass only (A); not independently confirmed.] |
| Reimbursement of Costs Incurred to Test Samples From Additional Suppliers | Not stated (min $1,000) | per event | No | single-pass | Item 6, p. 46 | Only if franchisee requests approval of a not-yet-approved additional supplier. [Listed by one verification pass only (A); not independently confirmed.] |
| Lease Costs | Not stated | monthly | No | verified (tie-break) | Item 6, p. 46 | Only applies if you lease or sublease the Premises from one of the franchisor's affiliates. Item 6 row on PDF p.46, expanded by Item 6 Note 8. |
| Marketing Start-Up Spend | $10,000 | per event | Yes | single-pass | Item 11, p. 70 | Triggered by opening, re-opening, or remodel/re-branding of the Restaurant. Paid to third-party vendors, not the franchisor, unless franchisee fails to administer the program, in which case the amount is paid to the franchisor or its approved vendors. [Listed by one verification pass only (A); not independently confirmed.] |
| POS System Annual Hardware and Software Maintenance | $2,426–$4,505 (min $2,426/annual) | annual | Yes | verified (tie-break) | Item 11, p. 73 | Assumes 2 to 4 POS terminals, as stated above the table. Cost table verified on PDF p.73; the inclusion sentence is directly beneath it on the same page. Calculator audit 2026-09-03: amount_type is 'variable', so the engine only seeds requires_assumption lines from a 'fixed' value or an explicit `minimum` bound; without `minimum` set this material, mandatory, disclosed fee was silently dropping to undisclosed/excluded instead of using its FDD-stated floor. (p. 73; "SDO without Drive-Thru ... $2,426 to $2,888 [Annual Hardware and Software Mainte") |
| Back of House (BOH) Software | $51–$70 | monthly | Yes | verified (tie-break) | Item 11, p. 74 | The BOH software is required; the bundled labor-management module is optional. Page corrected: both passes cited PDF p.73, but p.73 ends mid-sentence at '...which is not' and the quoted sentence opens PDF p.74. |
| Store Network - firewall, Internet equipment and managed services | $225–$400 | monthly | Yes | verified (tie-break) | Item 11, p. 74 | A specified managed high-speed network from an approved vendor is required; where terrestrial service is unavailable the satellite alternative carries the same $225-$400 monthly rate. Installation of $500-$1,500 per Restaurant ($2,000 for satellite, plus ~$500 for a high-gain antenna in weak-signal areas) is a one-time start-up cost, not part of this recurring line. |
| Digital Menu Board (DMB) monthly recurring managed services | $13–$17 | monthly | Yes | verified (tie-break) | Item 11, p. 75 | Interior digital signage is required for all new Restaurants and any Restaurant undergoing a remodel; exterior digital signage is required for new or remodeled drive-thru Restaurants. Covers hosting, content management, storage and distribution, support desk and proactive monitoring. |
| Drive-Thru Monitoring System (ongoing fees) | $400–$600 | annual | No | verified (tie-break) | Item 11, p. 75 | Applies only to Restaurants with a drive-thru. Initial system purchase is a separate $2,500-$5,000 one-time cost. |
| Restaurant Technology System Service Desk contract | $570–$825 | annual | Yes | verified (tie-break) | Item 11, p. 75 | A current Service Desk contract is required for each Restaurant, covering the Restaurant Technology System components the Service Desk supports. Category changed from Pass A's 'call_center': this is an IT help desk for the Restaurant Technology System, not a customer call centre. |
| Payment Terminal Hardware and Software Maintenance | $320–$400 | annual | Yes | verified (tie-break) | Item 11, p. 76 | Participation in the approved credit card program is required. Separate from monthly bank and service fees, fixed and variable transaction processing fees, and optional fraud prevention services at $0-$0.02 per transaction. |
| Security patching program | $5–$10 | monthly | Yes | verified (tie-break) | Item 11, p. 77 | 'You are required to participate in a vendor approved security patching program.' Covers operating system and third-party software patching, typically monthly. |
| Back-Up Protection Services (anti-virus and data backup) | $85–$600 | annual | No | verified (tie-break) | Item 11, p. 79 | Listed under Item 11's Combo-Restaurant-only heading ('the additional, required aspects of the Restaurant Technology System if you will develop and operate a Combo Restaurant'). The franchisee's own obligation is to protect its systems; the approved vendors' offering is one route to compliance. Item 11 item (8) of the Combo-only list, which begins after the Dunkin' list ends at item (18) Security Patching. |
Marked incomplete by verification: certain mandatory technology and program charges are billed at then-current rates the FDD does not quantify; they are listed as mandatory-undisclosed and excluded from modeled totals.
Percentages are of Gross Sales as defined in Item 6, which excludes stored-value-card proceeds deposited into a central System account, taxes collected for governments, and sales of approved products to other Dunkin' licensees for resale. Item 6 states the franchisor may waive or reduce any fee for a particular franchisee at its discretion, so posted rates are not necessarily uniform. Item 5 requires a one-time Marketing Start-Up spend of at least $10,000 ($5,000 for SDO locations). Beyond the initial franchise fee, initial payments to the franchisor include a $340 access fee for The Center; Item 8 adds a one-time NDCP membership fee currently $2,500. Item 6 also lists variable fees for relocation, indemnification, taxes, enforcement expenses, insurance placed by the franchisor and lease costs where the premises are leased from an affiliate.
Financial performance (Item 19)
What the franchisor actually disclosedWho is represented: The 7,010 franchised Dunkin' restaurants in the United States that operated for all of fiscal 2025, drawn from the 8,744 franchised Dunkin' restaurants (excluding Combo restaurants) open at year end. 5,592 were traditional locations and 1,418 were non-traditional/SDO locations; the group had operated for an average of 17 years. The franchisor excluded 314 restaurants that first opened during 2025, 1,261 closed with no reported sales for extended periods, 36 at Multi-Brand Locations, 111 self-serve restaurants, 25 operating part-time or on materially different schedules, the 81 franchised restaurants that closed during 2025, all company-owned restaurants, and all 1,219 franchised Combo restaurants.
Qualifications: Gross sales only. The franchisor states the figures do not reflect cost of sales, operating expenses or other costs that must be deducted to reach net income, and that no accountant has audited them; the data comes from franchisee sales reports and POS systems. Roughly 1,700 franchised Dunkin' restaurants were excluded from the population, including every restaurant that opened during 2025, every restaurant closed for extended periods, self-serve and part-time locations, Multi-Brand locations, and the 81 restaurants that closed during 2025 even though all had been open at least 12 months. Company-owned restaurants and all 1,219 Combo restaurants are excluded. The reported restaurants had operated for an average of 17 years, so the population skews toward mature units rather than new openings. Averages are simple arithmetic means of unit volumes, and 45% of the 7,010 restaurants reached or exceeded the $1,372,069 system average. The quartile, site-type and drive-thru tables slice the same 7,010 restaurants rather than sampling separately. population_share_of_system (80.2%) is measured against the 8,744 franchised standalone Dunkin' restaurants; against all 9,963 franchised Dunkin' restaurants in the U.S. including Combo restaurants the share is about 70%.
View full Item 19 disclosure and tables
Item 19 reports historical gross sales only, for the 7,010 franchised Dunkin' restaurants that operated throughout fiscal 2025. It gives an average annual unit volume of $1,372,069 and a median of $1,297,694, with the highest reported restaurant at $6,007,706 and the lowest at $65,354. Quartile averages run from $2,154,341 at the top to $718,088 at the bottom, and the tables break the same restaurants out by site type and by whether they have a drive-thru: traditional freestanding buildings averaged $1,584,319 across 3,169 restaurants, while other non-traditional/SDO locations averaged $890,102. What Item 19 does not show is any cost, expense, margin or profit figure, or any result for a first-year restaurant — every restaurant that opened during 2025 was excluded, as were restaurants closed for extended periods, self-serve, part-time and Multi-Brand locations, all company-owned restaurants and all Combo restaurants. The reported restaurants averaged 17 years of operation, and the figures are unaudited.
| Metric | Subset | Value | Units | Period | Cite |
|---|---|---|---|---|---|
| Gross sales (AUV) — all reported franchised restaurants 45% of units met or exceeded | System (7,010 franchised restaurants open all of FY2025) Average | $1,372,069 | 7,010 | FY2025 | FDD p.97 |
| Gross sales (AUV) — all reported franchised restaurants, median | System (7,010 franchised restaurants open all of FY2025) Median | $1,297,694 | 7,010 | FY2025 | FDD p.97 |
| Gross sales (AUV) — highest reported restaurant | System High | $6,007,706 | 7,010 | FY2025 | FDD p.97 |
| Gross sales (AUV) — lowest reported restaurant | System Low | $65,354 | 7,010 | FY2025 | FDD p.97 |
| Gross sales (AUV) — 1st (top) quartile average 39% of units met or exceeded Quartile median $2,041,189; range $1,703,327 to $6,007,706. | Top quartile by AUV Quartile avg. | $2,154,341 | 1,752 | FY2025 | FDD p.97 |
| Gross sales (AUV) — 2nd quartile average 50% of units met or exceeded Quartile median $1,488,156; range $1,297,861 to $1,703,007. | Second quartile by AUV Quartile avg. | $1,489,962 | 1,753 | FY2025 | FDD p.97 |
| Gross sales (AUV) — 3rd quartile average 50% of units met or exceeded Quartile median $1,124,919; range $953,095 to $1,297,527. | Third quartile by AUV Quartile avg. | $1,126,192 | 1,752 | FY2025 | FDD p.97 |
| Gross sales (AUV) — 4th (bottom) quartile average 57% of units met or exceeded Quartile median $753,308; range $65,354 to $952,914. | Bottom quartile by AUV Quartile avg. | $718,088 | 1,753 | FY2025 | FDD p.97 |
| Gross sales (AUV) — traditional freestanding pad or building, average 44% of units met or exceeded This is the site type matching the Item 7 Table A freestanding format used for the headline investment figures. | Traditional / freestanding pad or building Average | $1,584,319 | 3,169 | FY2025 | FDD p.97 |
| Gross sales (AUV) — traditional freestanding pad or building, median Range for this group: $292,090 to $4,704,400. | Traditional / freestanding pad or building Median | $1,522,154 | 3,169 | FY2025 | FDD p.97 |
| Gross sales (AUV) — traditional other (shopping centre / storefront), average 44% of units met or exceeded Median $1,175,390; range $190,905 to $3,796,187. | Traditional / other (shopping centre or storefront) Average | $1,250,245 | 2,423 | FY2025 | FDD p.97 |
| Gross sales (AUV) — non-traditional/SDO at gas or convenience store, average 45% of units met or exceeded Median $1,088,513; range $65,354 to $2,971,032. | Non-traditional / SDO — gas or c-store Average | $1,141,971 | 900 | FY2025 | FDD p.97 |
| Gross sales (AUV) — non-traditional/SDO at airports, average 47% of units met or exceeded Median $1,551,836; range $88,742 to $6,007,706. | Non-traditional / SDO — airport Average | $1,667,646 | 102 | FY2025 | FDD p.97 |
| Gross sales (AUV) — other non-traditional/SDO locations, average 37% of units met or exceeded Median $747,043; range $75,638 to $4,535,673. Includes casinos, hospitals, campuses, hotels, military facilities, travel plazas, malls and government locations. | Non-traditional / SDO — other Average | $890,102 | 416 | FY2025 | FDD p.97 |
| Gross sales (AUV) — traditional restaurants with a drive-thru, average 45% of units met or exceeded Median $1,485,494; range $292,090 to $4,704,400. | Traditional restaurants with a drive-thru Average | $1,547,899 | 4,161 | FY2025 | FDD p.97 |
| Gross sales (AUV) — traditional restaurants without a drive-thru, average 44% of units met or exceeded Median $1,070,654; range $190,905 to $2,957,745. | Traditional restaurants without a drive-thru Average | $1,124,559 | 1,431 | FY2025 | FDD p.97 |
| Traditional franchised restaurants with gross sales above $1,000,000 78% of units met or exceeded 4,348 of 5,592 traditional restaurants. | Traditional 2025 Franchised Restaurants % of units | 78% | 5,592 | FY2025 | FDD p.98 |
| Traditional franchised restaurants with gross sales above $1,500,000 41% of units met or exceeded 2,269 of 5,592 traditional restaurants. | Traditional 2025 Franchised Restaurants % of units | 41% | 5,592 | FY2025 | FDD p.98 |
| Traditional franchised restaurants with gross sales above $2,000,000 15% of units met or exceeded 844 of 5,592 traditional restaurants. | Traditional 2025 Franchised Restaurants % of units | 15% | 5,592 | FY2025 | FDD p.98 |
| Traditional franchised restaurants with gross sales above $2,500,000 4% of units met or exceeded 244 of 5,592 traditional restaurants. | Traditional 2025 Franchised Restaurants % of units | 4% | 5,592 | FY2025 | FDD p.98 |
| Traditional franchised restaurants with gross sales above $3,000,000 1% of units met or exceeded 64 of 5,592 traditional restaurants. | Traditional 2025 Franchised Restaurants % of units | 1% | 5,592 | FY2025 | FDD p.98 |
System health (Item 20)
Outlets, openings, exits and transfers by fiscal year · U.S. onlyView detailed Item 20 tables and source notes
| Fiscal year | Start | Opened | Terminated | Not renewed | Reacquired | Ceased — other | End | Transfers | Company-owned (end) |
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 8,087 | 344 | 4 | 23 | 0 | 139 | 8,265 | 224 | 32 |
| 2024 | 8,265 | 312 | 1 | 28 | 0 | 67 | 8,465 | 137 | 34 |
| 2025 | 8,465 | 314 | 2 | 24 | 0 | 55 | 8,744 | 241 | 36 |
Disclosed 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC, Item 20, Tables 1–3 (PDF p. 99). Item 20 contains two separate table sets: one for standalone and Multi-Brand Dunkin' restaurants (recorded here) and one for Dunkin' and Baskin-Robbins Combo restaurants. Combo franchised outlets fell from 1,269 to 1,219 in fiscal 2025 (12 opened, 8 not renewed, 54 ceased for other reasons) with 65 combo transfers and no company-owned combos. Table 3's total rows do not foot in 2024 and 2025: start plus openings less closures gives 8,481 against a stated 8,465, and 8,698 against a stated 8,744. Notes 2 and 3 to the tables explain that restaurants move between the standalone and Combo counts when a Baskin-Robbins is added to or removed from a restaurant. Fiscal 2025 ran Dec 30, 2024 to Dec 28, 2025; fiscal 2024 ran Jan 1 to Dec 29, 2024. The tables exclude restaurants on U.S. military bases outside the United States and all international restaurants.
Source data notes (15) — inconsistencies found in the FDD itself during verification
Our verification re-reads every table. Where the FDD's own printed tables disagree, we document the discrepancy rather than silently "fixing" it. Classes: B = arithmetic error in the source's derived column; C = the printed tables genuinely disagree; D = a legitimate definitional difference (e.g., transfers netted, explained by a footnote); E = unresolved ambiguity. Figures a material C/E issue puts in doubt are excluded from our derived metrics, scores and rankings.
- [D/minor] Table 3 2024: Table 3 TOTAL row for FY2024 does not foot: 8,265 + 312 - 1 - 28 - 0 - 67 = 8,481 against a printed end of 8,465, a 16-unit shortfall. Also raised as a validator warning. — Explained by the table's own footnotes. The TOTAL row is annotated '(Note 2)', and Notes 2-3 to Item 20 state that adding a Baskin-Robbins to an existing Dunkin' Restaurant reclassifies it as a Combo Restaurant (and the reverse), moving outlets between the two parallel table sets without registering as an 'opened' or 'ceased' event in either. The printed end of 8,465 is corroborated exactly by Table 1 (Franchised 2024: 8,265 start, 8,465 end, +200). The gap is 0.19% of start-of-year franchised units, well under the 0.5% threshold. Direction check: the -16 implies 16 standalone outlets became Combos, which the Combo Table 1 does not directly corroborate (Combo franchised fell 14 in 2024), though Combo closures of its own would mask that.
- [D/minor] Table 3 2025: Table 3 TOTAL row for FY2025 does not foot: 8,465 + 314 - 2 - 24 - 0 - 55 = 8,698 against a printed end of 8,744, a 46-unit excess in the opposite direction from 2024. Also raised as a validator warning. — Explained by Note 3: when the Baskin-Robbins or Other Brand side of a Combo or Multi-Brand Restaurant closes, the survivor is counted as a standalone Dunkin' Restaurant, entering Table 3 without an 'opened' event. Strongly corroborated by the Combo tables, where franchised Combo outlets fell 50 in FY2025 (1,269 to 1,219) - 46 of that 50 reappearing as standalone Dunkin' outlets fits precisely. The printed end of 8,744 is triply corroborated: Table 1 (Franchised 2025 end 8,744), Item 19 ('8,744 franchised Dunkin' Restaurants (excluding Combo Restaurants)') and Item 1. Borderline on the numeric test - 46 is 0.54% of the 8,465 start-of-year franchised units, marginally over 0.5% - but the totals themselves are not in doubt and the difference is expressly explained by a footnote, so minor. Der
- [D/minor] Table 3 2023: By contrast the FY2023 TOTAL row foots exactly: 8,087 + 344 - 4 - 23 - 0 - 139 = 8,265, matching the printed end. — Not a defect. Verified from the printed TOTAL row; it is the baseline showing the identity holds in a year without net standalone/Combo reclassification, which supports the Notes 2-3 explanation for 2024 and 2025 rather than a systematic arithmetic error.
- [D/minor] Table 3 / Notes 2-3: Pass A observation that the TOTAL row is annotated '(Note 2)' and that Notes 2-3 describe standalone/Combo conversions as the likely cause of the 2024 and 2025 footing gaps, citing Combo franchised net changes of -14 (2024) and -50 (2025). — Confirmed and refined. Notes 2 and 3 read as Pass A describes, and the TOTAL row does carry the '(Note 2)' annotation. Correction to Pass A's reasoning: only FY2025 is corroborated by the Combo table. The FY2025 standalone excess of +46 matches a Combo franchised decline of 50. The FY2024 standalone shortfall of -16 implies outlets moving INTO the Combo count, yet Combo franchised also fell (by 14) that year, so the Combo table does not corroborate the 2024 direction - it is merely not inconsistent, since Combo has its own closures.
- [D/minor] Table 3: Pass B's summary of the same TOTAL-row non-footing across all three years (8,265 foots; 8,481 vs 8,465; 8,698 vs 8,744). — Duplicate of the 2023/2024/2025 entries above; Pass B's arithmetic reproduces exactly from the printed TOTAL rows. Same resolution: Notes 2-3 reclassification between the parallel Dunkin' and Combo table sets.
- [D/minor] Table 3: 41 individual state-year rows in Table 3 fail the start + opened - terminations - non_renewals - reacquired - ceased = end identity (e.g. Pennsylvania FY2024 619+19-0-1-0-4 = 633 vs 625 printed; New York FY2025 1,165+34-0-3-0-6 = 1,190 vs 1,209 printed). — Independently reproduced: 41 rows fail the identity. One correction to Pass B's wording - the table has 132 state-year rows (44 states x 3 years), not 135. Same definitional cause as the TOTAL rows: standalone/Combo reclassifications under Notes 2-3 occur state by state and never appear in the event columns. State rows are not used for the site's headline metrics and the printed TOTAL is corroborated by Table 1, so minor.
- [C/minor] Table 3: Summing the state rows does not reproduce the TOTAL row: FY2023 opened sums to 346 against a printed TOTAL of 344, and the year-end column sums to 8,264 / 8,464 / 8,744 against printed TOTALs of 8,265 / 8,465 / 8,744. — Genuine source-document inconsistency, independently reproduced by parsing the printed rows: state-row sums are start 8,087 / opened 346 / term 4 / non-renewal 23 / reacquired 0 / ceased 139 / end 8,264 for FY2023, against a printed TOTAL of 8,087 / 344 / 4 / 23 / 0 / 139 / 8,265. The terminations, non-renewals, reacquisitions and ceased-other columns reconcile exactly, so this is not an extraction artefact; the state end-of-year column is 1 short in FY2023 and FY2024 and the opened column is 2 over in FY2023, and the state rows carry their own 8,264 -> 8,264 start figure forward. This cannot be explained by Notes 2-3, which affect the identity within a row rather than a column sum. Severity minor: the discrepancy is 1 unit (0.01% of start-of-year units) on the figure the site uses, and th
- [C/minor] Table 2: Table 2 (Transfers) TOTAL exceeds the sum of the listed state rows in two of three years: FY2023 TOTAL 224 vs 212 summed (+12) and FY2025 TOTAL 241 vs 235 summed (+6); FY2024 reconciles exactly at 137. — Genuine source-document inconsistency, independently reproduced: 31 state rows sum to 212 / 137 / 235 against printed TOTALs of 224 / 137 / 241. No footnote explains the difference and nothing in the FDD corroborates the Table 2 TOTAL, so the printed transfer counts should be used with the caveat that the state detail is incomplete. Severity minor: 12 units is 0.15% of start-of-year franchised units, well under the 0.5% threshold, and transfers do not feed unit counts or the direction of growth.
- [D/minor] Tables 3-4: Carry-forward between years is internally consistent in every table (Table 3 TOTAL end 8,265 -> start 8,265 and 8,465 -> 8,465; Table 4 company-owned 32 -> 32 and 34 -> 34). — Not a defect - verified. Confirms the year-end totals are the authoritative figures and that the non-footing is confined to the event columns.
- [D/minor] Table 1: Table 1 reconciles with Tables 3 and 4: franchised 8,087/8,265/8,465 -> 8,265/8,465/8,744 matches the Table 3 TOTALs, company-owned 31/32/34 -> 32/34/36 matches Table 4, and Total Outlets net changes of +179/+202/+281 are correct. — Not a defect - verified against the printed tables, including the Franchised net-change column (+178/+200/+279). This cross-corroboration is what keeps the 2024 and 2025 footing gaps at minor severity.
- [D/minor] Tables 1-5 (Dunkin' vs Combo): Two parallel table sets: the Dunkin' Tables 1-5 exclude Combo (Dunkin' + Baskin-Robbins) Restaurants, which have their own Tables 1-5. Combo franchised units went 1,252 -> 1,283 -> 1,269 -> 1,219, so reading only the Dunkin' tables overstates growth for the combined U.S. system. — Legitimate table-definition difference, verified: Combo Table 1 shows franchised 1,252 -> 1,283 (+31), 1,283 -> 1,269 (-14), 1,269 -> 1,219 (-50) with zero company-owned outlets throughout, and 8,744 + 1,219 = 9,963 franchised, matching Item 1. The direction of growth is unchanged on either definition (Dunkin'-only +279 in FY2025; combined franchised +229), so minor - but any growth figure should be labelled as standalone Dunkin' only.
- [C/minor] Table 1 / Item 1 2025: Item 1 states that of 9,999 U.S. restaurants, '8,744 were single-branded Dunkin' restaurants, 36 were Dunkin' restaurants operating at Multi-Brand Locations, and 1,219 were combo' - but Note 1 to the Dunkin' tables says those tables already include Multi-Brand Locations, so the 8,744 franchised total already contains the Multi-Brand outlets. — Genuine cross-item inconsistency, verified. Note 1 reads 'The tables above include (a) standalone Dunkin' Restaurants and (b) Multi-Brand Locations...', and Note 5 says none were terminated, closed, non-renewed or reacquired in three years. Item 1's sentence therefore double counts the Multi-Brand outlets and omits the 36 company-owned outlets; it only sums to 9,999 because the Multi-Brand count (36) happens to equal the company-owned count (36). The correct build is 8,744 franchised standalone-plus-Multi-Brand + 1,219 franchised Combo = 9,963 franchised, + 36 company-owned = 9,999, which Item 1's own preceding sentence states. Table 1's 8,744 is the corroborated figure, so the narrative sentence is the wrong one and the totals the site uses are unaffected.
- [D/minor] Table 4: Table 4 lists a single state, Ohio, for all three years - the entire company-owned estate (36 outlets at FY2025 end) sits in one state, with no outlets ever sold to or reacquired from franchisees. — Not a defect - verified from the printed Table 4, whose Ohio rows and TOTAL rows are identical (31->32, 32->34, 34->36, all other columns zero). A real characteristic of the system, not an inconsistency.
- [D/minor] Table 5: Table 5 shows 229 signed-but-unopened Dunkin' franchise agreements against 406 projected franchised openings in the next fiscal year, plus 10 projected company-owned openings (all Ohio); the Combo Table 5 projects 26 openings with zero signed agreements. The 406 projection exceeds the highest actual opening year (344 in FY2023) by 18%. — Not a defect - the printed TOTAL row (229 / 406 / 10) is verified. Table 5 projections are forward-looking estimates and are not required to reconcile to signed agreements or to historical openings; the gap is worth surfacing to users as optimism in the projection, not as a data error.
- [D/minor] Item 19 cross-check 2025: Item 19's exclusion of '314 franchised Dunkin' Restaurants that first opened during 2025' matches Table 3's FY2025 opened figure of 314, and its '8,744 franchised Dunkin' Restaurants (excluding Combo Restaurants)' matches Table 1's FY2025 year-end franchised count. — Not a defect - verified in Item 19. This is the independent corroboration that keeps the FY2025 TOTAL-row gap at minor severity despite its 0.54% size.
Company-owned outlets (Table 4)
| Year | Start | Opened | Reacquired from franchisee | Closed | Sold to franchisee | End |
|---|---|---|---|---|---|---|
| 2023 | 31 | 1 | 0 | 0 | 0 | 32 |
| 2024 | 32 | 2 | 0 | 0 | 0 | 34 |
| 2025 | 34 | 2 | 0 | 0 | 0 | 36 |
Read: How to read Item 20.
Ownership and operations
Items 11, 12, 15, 17Manager-run permitted Disclosed
- Source
- 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC
- Document
- FDD 2026, issued 2026-03-26
- Item
- Item 15
- Page
- PDF p. 89
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 640454
your personal "on-premises" supervision is not required under the terms of the Franchise Agreement
Item 15 says the franchisee must devote continuous best efforts and should expect to perform substantial manual labour and work a full shift every day early in the term, but that personal on-premises supervision is not required. The on-premises manager must be trained to the franchisor's requirements and may not have an interest in a competitive business; the franchisor recommends but does not require that the manager hold an ownership interest. Item 11 requires the restaurant always to be managed by at least two people who have completed initial training, one of whom must be the franchisee or another owner.
View operating requirements, territory and contract term
| Owner involvement (Item 15) | Manager-run permitted Disclosed
Item 15 says the franchisee must devote continuous best efforts and should expect to perform substantial manual labour and work a full shift every day early in the term, but that personal on-premises supervision is not required. The on-premises manager must be trained to the franchisor's requirements and may not have an interest in a competitive business; the franchisor recommends but does not require that the manager hold an ownership interest. Item 11 requires the restaurant always to be managed by at least two people who have completed initial training, one of whom must be the franchisee or another owner. Item 15 says the franchisee must devote continuous best efforts and should expect to perform substantial manual labour and work a full shift every day early in the term, but that personal on-premises supervision is not required. The on-premises manager must be trained to the franchisor's requirements and may not have an interest in a competitive business; the franchisor recommends but does not require that the manager hold an ownership interest. Item 11 requires the restaurant always to be managed by at least two people who have completed initial training, one of whom must be the franchisee or another owner. |
|---|---|
| Initial training | The Dunkin' Training Program takes a minimum of 19 days across virtual, classroom and in-restaurant phases, not counting travel, orientation and pre-requisite online modules — 58 to 85 hours of online training plus 180 to 250 hours of on-the-job training. It is offered at least 8 times a year, online or at a certified training restaurant, with production training at a designated central manufacturing location. A franchisee operating 1 to 5 restaurants must send 2 people, an owner and a designated representative, whose training fee is included in the initial franchise fee; developers of 6 to 19 restaurants must send 3 and developers of 20 or more must send 4, at $4,000 per person. Passing requires a cumulative score of 90% on all tests plus completion of homework and online learning. Item 7 assumes 2 people attending for 4 to 8 weeks at $2,000 to $50,000 of travel, lodging and related expense. The franchisor may also require up to 10 days assisting at another restaurant's opening. Disclosed
|
| Multi-unit / development options | A franchisee wanting more than one restaurant signs a Development Agreement covering a Development Area, with the number of restaurants, the term and the development schedule all set by the franchisor. Item 5 requires 25% of each restaurant's initial franchise fee at signing of the Development Agreement, with the balance due six months before the required opening date or at actual opening, whichever is earlier. Item 11 requires 3 trained people for developers of 6 to 19 restaurants and 4 for developers of 20 or more. Item 6 charges $10,000 to transfer a majority interest in a Development Agreement. Item 12 says the franchisor does not expect to offer conditional options to extend to anyone developing more than 3 restaurants. Item 5 describes Standard, Strategic and Pacific Northwest incentive programmes available for agreements signed on or before March 31, 2027. Disclosed
|
| Territory (Item 12) | Item 12 states that the Franchise Agreement grants no exclusive territory and no non-exclusive territory of any kind. The franchisee operates at one accepted site only. The franchisor reserves the right to operate or license others to operate Dunkin' restaurants and other concepts at any location, including in ways that draw customers from the same area, and to distribute products through other channels including the internet, mail, delivery and packaged retail. Relocation requires prior written approval, may require signing the then-current form of franchise agreement and may carry a relocation fee. A Development Agreement gives limited protection: while the developer complies with the development schedule and all other agreements, the franchisor will not operate or authorise another Dunkin' restaurant in the Development Area, subject to carve-outs for the developer's own restaurants, restaurants already located or under development there, and certain SDO opportunities. Disclosed
|
| Initial term | 20 years Disclosed
The Development Agreement term is instead based on the number of restaurants to be developed. |
| Renewal | Item 17 provides a 20-year renewal term. Conditions include written notice to renew, maintained standards during the term, no more than 3 default notices in the prior 10-year period before the renewal notice and none after it, no uncured defaults at renewal, all amounts paid, a lease for the premises or an accepted substitute developed to then-current standards, a mutual general release, signing the then-current form of franchise agreement, and payment of the franchisor's then-current renewal fee. Franchise agreements for SDO (non-traditional) locations carry no renewal rights. All of this is subject to applicable state law. Disclosed
|
| Staffing | Item 11 requires the restaurant always to be managed by at least 2 individuals who have completed the initial training programme — the franchisee or another owner, plus a designated representative. Item 15 says a new franchisee should expect to perform a substantial amount of manual labour, especially in the first year, and to work a full shift every day early in the term. Item 7 notes the typical freestanding restaurant seats 10 to 40 customers and runs 750 to 3,100 square feet; traditional restaurants in the Item 19 population range from about 600 to 3,000 square feet. Disclosed
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Risk and legal observations
Items 3, 4, 8, 15, 17 — summarized neutrallyLitigation: 19 matter(s) disclosed Disclosed · Bankruptcy: None disclosed Disclosed
View legal disclosures, restrictions and guarantees
| Litigation (Item 3) | 19 matter(s) disclosed Disclosed Item 3 lists four pending matters against the franchisor or affiliates: a New Hampshire suit by a current multi-unit franchisee challenging a 2025 termination for missed remodel deadlines (answer due April 2026); a New Jersey action the franchisor and Baskin-Robbins filed against a franchisee for breach and trademark infringement, in which the franchisee counterclaimed under the New Jersey Franchise Practices Act; a group of three related Pakistani proceedings with a former master developer, where an IP tribunal granted the franchisor an injunction in September 2025 and an appeal is pending; and a long-running Pennsylvania claim by bakery operators over a supply plan, where the court has already struck the plaintiffs' lost-profit damages. In fiscal 2025 the franchisor began three further matters against international franchisees or an infringer (two AAA arbitrations and one Pakistani IP suit). Seven concluded matters are listed, including four franchisee or former-franchisee disputes settled without admission of liability (one with the franchisor paying $110,000), a European master-franchise arbitration settled in 2018, and two state consumer-protection actions resolved by parent Dunkin' Brands — a multi-state no-poaching settlement placed on the public record in California and a New York data-security settlement with $650,000 in penalties and costs. Two further matters involve affiliated franchisors, Arby's and Jimmy John's. |
|---|---|
| Bankruptcy (Item 4) | None disclosed Disclosed Item 4 states that no bankruptcy is required to be disclosed. |
| Personal guaranty | Required Disclosed
Items 1 and 15 both state that if the franchisee is an entity, each person or entity holding a direct or indirect ownership interest must sign the franchisor's then-current form of guaranty and is personally bound by the Franchise Agreement, the Development Agreement and ancillary agreements. Transferees and their guarantors must sign guaranties as a condition of transfer (Item 17), and NDCP membership under Item 8 also requires a personal guarantee. |
| Non-compete | During the term, neither the franchisee nor its owners, officers, directors or guarantors may hold an interest in any business deriving more than 20% of its revenue from a combination of coffee and/or baked goods (a 'Competitive Business'), divert customers away from any Dunkin' restaurant, oppose government approvals for another Dunkin' restaurant, or act injuriously to the goodwill of the brand. For 24 months after expiration, termination or transfer, the same people may not hold an interest in a Competitive Business at the premises, within 5 miles of the premises, or at any other Dunkin' restaurant. Disclosed
|
| Transfer restrictions | The franchisor approves all transfers but states it will not unreasonably withhold approval. Conditions for a controlling transfer include the transferee meeting then-current criteria with each guarantor signing a guaranty, all obligations to the franchisor satisfied, the restaurant and premises in compliance with standards, a sale price that is not excessive, a general release, repair or replacement of operating assets and any refurbishment or remodel the franchisor requires, and the transferee either taking the remaining term or signing the then-current franchise agreement. The franchisor holds a 60-day right of first refusal on the same terms, renewed if the terms change, and the transfer fee is still payable if it exercises that right. Item 6 sets the transfer fee at $12,500 for a Dunkin' restaurant operated under 3 years, or $12,500 plus $5,000 to $20,000 based on trailing 12-month gross sales thereafter; a $2,000 fixed documentation fee applies instead to non-controlling and family or estate transfers. On death or incapacity, a legal representative must propose a transfer within 12 months and complete it within 18. Disclosed
|
| Termination / non-renewal | Item 17 gives the franchisee no contractual right to terminate and allows the franchisor to terminate only for cause. Curable defaults carry short cure periods: 24 hours to correct a health, sanitation or safety violation or to resume operations after ceasing without consent, 7 days for non-payment, and 30 days for any other breach of the agreement, standards or another agreement. Non-curable defaults include loss of the premises or termination of the lease, unauthorised transfer, misuse of confidential information or breach of the restrictive covenants, a felony or crime of moral turpitude, fraud, intentional under-reporting of gross sales, unauthorised use of the premises, termination of another contract with the franchisor, three or more notices of the same or similar default within 12 months, and bankruptcy. The Franchise Agreement and Development Agreement cross-default. On termination or expiry the franchisee must de-identify, return signage and manuals, pay all amounts owed and observe the post-term non-compete; the franchisor may buy the operating assets within 30 days at fair market value less indebtedness. Disclosed
|
| Supplier restrictions (Item 8) | Item 8 requires equipment, fixtures, furnishings, signage, the POS system, inventory, supplies and services to be bought or leased only to the franchisor's standards and, where required, only from designated or approved suppliers, which may include the franchisor or its affiliates. Food and non-food products currently must be purchased through National DCP, LLC (NDCP), a franchisee-owned purchasing and distribution cooperative that every new franchisee must join by signing a membership agreement and a personal guarantee and paying a one-time membership fee currently $2,500. Exclusive supply arrangements currently cover purchasing and distribution, fountain and packaged beverages and certain restaurant technology, and in some markets designated third parties supply donuts and bakery products, with a back-up supplier required. Approval of an alternative supplier can take up to 180 days and the franchisee pays testing costs of $1,000 to $10,000. The franchisor states that required or specified purchases represent more than 95% of purchases and leases both to establish and to operate the restaurant. In fiscal 2025 it received $2,000,000 from The Center access fees (0.3% of its approximately $944,000,000 total revenue), and its affiliates received $132,600,000 from selling or leasing products and services to franchisees, including lease payments. Disclosed
|
| Dispute resolution | Item 17 lists no arbitration or mediation requirement — the row for dispute resolution by arbitration or mediation reads 'Not applicable' — and names federal, state or local courts within Atlanta, Georgia as the forum, with Georgia law applying, both subject to applicable state law. The FDD's state-required 'Special Risks to Consider' cover page instead describes the franchise and development agreements as requiring disputes to be resolved by mediation, arbitration and/or litigation in the state in which the restaurant is located. The two statements are not consistent in the reviewed text, and the underlying agreements in Exhibits C and D were not reviewed. Disclosed
|
- Item 11 requires refurbishment and remodelling by dates fixed in the Franchise Agreement, at the franchisee's cost; one of the pending Item 3 lawsuits arises from a termination for missed remodel deadlines.
- Item 12 grants no territory of any kind under the Franchise Agreement and expressly reserves alternative channels of distribution, including internet and delivery sales.
- Item 9 lists development schedule quotas under the Development Agreement, and Item 17 makes failure to satisfy the development schedule a non-curable default.
- Item 6 states the franchisor may waive or reduce any fee for a particular franchisee at its sole discretion, so the published rates are not applied uniformly in practice.
- Item 5 and Item 6 incentives require signing by March 31, 2027 and meeting eligibility conditions, and none apply to renewals, SDO locations, relocations or transfers.
- Item 7 excludes the purchase of real estate (an additional $100,000 to $1,200,000 or more per Note 6) and government impact fees (Note 5: can be $87,000 or more in some markets).
- Franchise agreements signed for SDO (non-traditional) locations carry no renewal rights under Item 17.
- Item 8 requires participation in the franchisor's loyalty programme and prohibits any other mobile ordering, payment or stored-value programme.
Summaries are neutral paraphrases of the cited document and are not legal advice. Read the full Items in the current FDD and consult a franchise attorney.
Illustrative unit economics
Model estimateModel estimate — not disclosed by the franchisor, not a forecast. Fee lines below come from this brand's verified FDD fee schedule and are computed exactly as disclosed (each line shows its arithmetic). Operating-cost ratios are category placeholders we chose — every one is editable and labeled assumption. Results are illustrative arithmetic, not expected returns. Every figure here belongs to one of five labeled categories — disclosed inputs, model assumptions, unmodeled mandatory fees, user-editable assumptions, and exclusions — defined in our methodology.
| Line (annual) | Downside | Base | Upside |
|---|---|---|---|
| Revenue (AUV basis) | $718,088 | $1,372,069 | $1,577,879 |
| − Cost of goods / supplies assumption | $222,607 | $425,341 | $489,143 |
| − Payroll (excl. owner) assumption | $201,065 | $384,179 | $441,806 |
| − Occupancy assumption | $57,447 | $109,766 | $126,230 |
| − Other operating expenses assumption | $78,990 | $150,928 | $173,567 |
| − Continuing Franchise Fee (CFF) disclosed 5.9% of gross sales = $80,952 |
$42,367 | $80,952 | $93,095 |
| − Continuing Advertising Fee (CAF) disclosed 5% of gross sales = $68,603 |
$35,904 | $68,603 | $78,894 |
| − Loyalty Program Contribution Payment (LCP) disclosed 1.4% of gross sales = $19,209 |
$10,053 | $19,209 | $22,090 |
| − The Center Annual Subscription Fee disclosed $340 per year |
$340 | $340 | $340 |
| − POS System Annual Hardware and Software Maintenance assumption $2,426/yr (seeded from the disclosed floor) |
$2,426 | $2,426 | $2,426 |
| − Back of House (BOH) Software disclosed $51/month × 12 = $612 |
$612 | $612 | $612 |
| − Store Network - firewall, Internet equipment and managed services disclosed $225/month × 12 = $2,700 |
$2,700 | $2,700 | $2,700 |
| − Digital Menu Board (DMB) monthly recurring managed services assumption $156/yr (seeded from the disclosed floor) |
$156 | $156 | $156 |
| − Payment Terminal Hardware and Software Maintenance disclosed $320 per year |
$320 | $320 | $320 |
| − Security patching program assumption $60/yr (seeded from the disclosed floor) |
$60 | $60 | $60 |
| = Modeled operating result before the items below (EBITDA-style) | $63,041 | $126,477 | $146,440 |
| − Manager compensation assumption | $60,000 | $60,000 | $60,000 |
| = Modeled result after manager compensation | $3,041 | $66,477 | $86,440 |
| − Illustrative debt service assumption | $134,025 | $134,025 | $134,025 |
| = Illustrative pre-tax cash flow — before taxes, capital expenditures and unmodeled fees | −$130,985 | −$67,549 | −$47,585 |
| Modeled operating margin | 8.8% | 9.2% | 9.3% |
This modeled result is not owner income. It excludes: income taxes; capital expenditures and equipment-replacement reserves; working-capital needs; ramp-up losses; owner-specific costs; one-time and per-event fees (transfer, renewal, audit); and 1 mandatory fee(s) whose amounts the FDD does not state (listed below — real outflows are higher by these amounts). It is illustrative arithmetic on stated assumptions, not a promise or forecast of what a franchisee earns.
Mandatory fees disclosed but not quantified — not included in the modeled result: the FDD requires these but states no amount (e.g. billed at "then-current" rates). They are never modeled as $0. If you have a quote or estimate, enter an annual amount to include it as your own assumption:
- Insurance (Item 6, p. 45) — Item 7 Note 9 gives $10,000-$16,000 as the pre-opening insurance outlay (PDF p.52, payable before opening); ongoing premiums are not separately quantified and vary by carrier, state and risk profile.
Overlap control: Restaurant Technology System Service Desk contract is counted within “pos-annual-maintenance” — excluded to avoid double counting.
The verified fee schedule for this brand is marked incomplete — Marked incomplete by verification: certain mandatory technology and program charges are billed at then-current rates the FDD does not quantify; they are listed as mandatory-undisclosed and excluded from modeled totals.; treat the fee subtotal as a floor.
Every figure in this table is a model estimate built on the disclosed fee schedule plus labeled assumptions. Excluded: income taxes, owner draw, working-capital swings, capital expenditures, ramp-up losses in year one, one-time and per-event fees (transfer, renewal, audit), and the undisclosed-amount fees listed above. Read AUV vs. EBITDA vs. owner income before using this.
Sources and provenance
Primary source: 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC · issued 2026-03-26. Find the FDD at Wisconsin Department of Financial Institutions — Franchise Registration Search. We cite source pages and do not redistribute PDFs.
View all sources, provenance and verification notes
| Document | Obtained from | Dates | Status |
|---|---|---|---|
| 2026 Franchise Disclosure Document — Dunkin' Donuts Franchising LLC Registry file 640454 · 675 pages Cover reads 'Issuance Date: March 26, 2026'; running footer reads 'Dunkin' | 2026 FDD'. Wisconsin registration effective 3/26/2026, status Registered. This is the newest document available in the registry. A separate FDD is issued by Baskin-Robbins Franchising LLC for the Combo restaurant opportunity and was not reviewed. | Wisconsin Department of Financial Institutions — Franchise Registration Search | Issued 2026-03-26 Retrieved 2026-08-29 | Newest available at retrieval |
AI-assisted extraction from the archived FDD text, independently machine-verified against the cited source (two passes plus tie-break); not human-reviewed. Extracted 2026-08-29. Last updated 2026-09-05. AI-assisted extraction independently machine-verified against the cited source document (2026-09-01): two independent AI reading passes plus tie-break re-inspection of every disagreement; 72 of 77 material fields confirmed (68 with the exact page citation re-confirmed), 1 corrected, 0 unresolved, 5 confirmed not disclosed. No human has reviewed this profile. Fiscal year covered: FY2025 (Dec 30, 2024 – Dec 28, 2025). See how we use AI and verify data.
Fields flagged as uncertain (6)
- fees.local_marketing.value — the reviewed FDD sets no continuing local advertising minimum; only a one-time Marketing Start-Up spend of at least $10,000 at opening, re-opening or remodel (Items 5 and 11).
- fees.renewal_fee.value — Item 6 discloses that a renewal fee is payable but gives the amount only as the franchisor's then-current fee.
- fees.cooperative.value — Item 11 affirmatively states that there are currently no advertising cooperatives, so no rate exists; recorded as null rather than as a zero rate.
- investment.liquidity_required.value and investment.net_worth_required.value — no financial qualification thresholds appear anywhere in the reviewed text.
- item19.population_share_of_system — 7,010 / 8,744 franchised standalone Dunkin' restaurants; the denominator would be 9,963 if franchised Combo restaurants were included.
- risk.litigation.count, franchisee_initiated_count, franchisor_initiated_count — Item 3 groups three related Pakistani proceedings under one caption, so a per-proceeding count would be 18 rather than 16; the initiated counts treat the Pakistani group as one franchisor-side matter and exclude the two affiliated-franchisor matters.
Extraction notes (9)
- Item 7 contains four tables (freestanding, shopping centre/storefront, gas & convenience, and SDO/non-traditional). The freestanding table (Table A) is used for the primary investment figures per the task instruction; the other three are recorded in investment.alternative_formats. All four tables' subtotals foot to their stated totals.
- Validator warnings on item20.franchised_status for 2024 and 2025 are expected: Table 3's own total rows do not foot (start + opened - closures gives 8,481 vs a stated 8,465 in 2024, and 8,698 vs a stated 8,744 in 2025). Item 20 Notes 2 and 3 explain that restaurants move between the standalone Dunkin' and Combo counts when a Baskin-Robbins is added to or removed from a restaurant. Several individual state rows do not foot for the same reason. Values are recorded exactly as printed.
- Item 20 has two full table sets. Only the Dunkin' Restaurants set is recorded in item20 and units; the Combo Restaurants set (1,269 to 1,219 franchised in fiscal 2025, 65 transfers, 26 projected openings) is summarised in item20.notes and units.note.
- Item 1's breakdown sentence adds 8,744 single-branded + 36 Multi-Brand + 1,219 combo to reach 9,999 U.S. restaurants, while Item 19 states that the 36 Multi-Brand restaurants sit inside the 8,744 figure. The franchisor's own arithmetic is ambiguous; units here follow Item 20 Table 1 (8,744 franchised + 36 company-owned = 8,780).
- Item 17 lists no arbitration or mediation requirement and names Atlanta, Georgia courts, while the state-required 'Special Risks' cover page describes mediation, arbitration and/or litigation in the state where the restaurant is located. Both are recorded in risk.dispute_resolution; the underlying agreements in Exhibits C and D were not reviewed.
- Item 6's transfer-fee table and its Note 6 disagree about which case carries the sales-based add-on. The recorded range follows Note 6, which is the more specific text.
- The $340 initial access fee for The Center is payable to the franchisor at signing under Item 5 but is not a separate Item 7 line item; franchise_fee_low/high record only the initial franchise fee itself, matching the Item 7 'Initial Franchise Fee' row. The cover page states $40,340 to $112,740 of the freestanding total is payable to the franchisor or an affiliate.
- Item 5 states that the initial franchise fee actually paid during fiscal 2025 ranged from $0 to $90,000, reflecting case-by-case waivers; the standard schedule of $40,000 to $90,000 by Development Area Type is used here per the task's rule on discounts.
- Verification 2026-09-01: correct /risk/litigation/count 16 → 19
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