Pretty soon, you won't be able to swing a dead cat in California without hitting a Dunkin' Donuts.
Building on the momentum of its most recently announced expansion (27 new restaurants in three years), Dunkin' Brands (NASDAQ: DNKN ) revealed Tuesday that it has even bigger plans for expansion in the Golden State. Specifically, the restaurateur said that it plans to build "as many as 1,000 restaurants throughout the state." Assuming it follows through on that promise, Californian Dunkins could eventually constitute close to 10% of total store outlets at the 10,500-restaurant chain.
Already, Dunkin' says it has franchise agreements in place to open more than 70 new freestanding restaurants in California. In Dunkin's announcement yesterday, the company sketched out plans to continue expanding into California's Central Valley and Central Coast, including Fresno, Bakersfield, Sacramento, and Santa Barbara. Dunkin' says it will be opening not only traditional Dunkin' Donuts restaurants, but also add outlets in "a wide range of non-traditional venues, including colleges and universities, casinos, military bases, supermarkets, airports and travel centers."
As Dunkin' vice president of franchising and business development Grant Benson pointed out: "We're experiencing incredible momentum in our growth, both east and west of the Mississippi ..."