Krispy Kreme has reached a franchise development agreement with Original Entrepreneurs to introduce 33 outlets across the New York metropolitan area over the next five years.
The arrangement aligns with the brand’s strategy of achieving “sustainable, profitable growth” by pursuing low-capital franchise arrangements, the doughnut chain said in a statement.
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Under the agreement, sites will be established throughout New York City and surrounding localities, encompassing Long Island and New Jersey.
Original Entrepreneurs, an established fast-food operator with a long-standing franchise relationship with Krispy Kreme, currently manages 12 branches of the brand.
Based in Jersey City, New Jersey, the operating group launched its first Krispy Kreme Hot Light Theater site in 2017, subsequently scaling its network across both New Jersey and New York.
Original Entrepreneurs Principal Karl Halligan said: “We’re proud of our long-standing relationship with Krispy Kreme and confident in the strength of the brand.”
Krispy Kreme CEO Josh Charlesworth said: “We’re pleased to continue growing with Original Entrepreneurs.
“This development agreement reflects our focus on capital-light franchise growth and enables us to expand with an operator that has deep expertise building and operating Krispy Kreme shops in a competitive market.”
In April this year, Krispy Kreme signed a franchise agreement with Jafa Holding to expand into the Netherlands.
At the time, the doughnut chain, which operates in more than 40 countries, said it plans to add at least 100 new shops worldwide this year.
