Investor’s Plan: Move South, Bring Doughnuts

Charlotte Observer:

Benjamin Gonzalez, who moved from New York City to Charlotte 4 years ago, took a lunch break Friday afternoon at the Dunkin’ Donuts on South Boulevard.

‘This is my favorite coffee,’ he said, reminiscing about daily trips to the Dunkin’ Donuts around the corner from where he lived in Manhattan. ‘It feels a little bit like home.’

Northeastern transplants like Gonzalez are helping fuel the expansion of Dunkin’ Donuts in Charlotte, the largest market in the home state of rival Krispy Kreme Doughnuts.

In less than 2 weeks, Dunkin’ Donuts plans to open its first 2-story Charlotte store on North Graham Street - and the local franchisee said he chose the spot because so many transplants live and work in uptown.

Much like the proliferation of New York-style pizza chains here, it’s more evidence of the growing economic clout transplants wield in this market.

‘(Newcomers) continue to help Charlotte evolve more and more as a city of the world,’ said Michael Smith, president of Charlotte Center City Partners.

About 80,000 people move to the Charlotte region each year from outside the Carolinas, U.S. Census Bureau figures show.

The influx from markets where the Massachusetts-based Dunkin’ Donuts is entrenched has been keeping business strong at local franchises. After an expansion during the past four years, there are 22 Dunkin’ Donuts shops in the Charlotte market - and the new spot opening Feb. 27 at 231 N. Graham St. is one of 3 headed to uptown within the next 3 years. It will also sell Baskin-Robbins ice cream. Read it all.