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Recent trends indicate that the franchise industry is looking to Latin America to open new locations and expand their brands. While Mexico remains a strong market for franchises, franchisors are now announcing openings in other Latin American countries that show economic promise. Brazil, in particular, is especially appealing. Hosting events such as the 2016 Summer Olympics and the 2014 FIFA World Cup soccer tournament, makes the country very attractive for restaurants and other ancillary businesses. In addition, the country has a strong and growing middle class where people regularly shop at malls and food courts. “We see Latin America as a tremendous growth opportunity for Dunkin’ Donuts,” said Jeremy Vitaro, vice president of international development for Dunkin’ Brands. “Building out growth for Dunkin’ Donuts in Latin America is one of the keys to our international growth strategy.” Dunkin’ Donuts currently has more than 300 restaurants in Chile, Colombia, Ecuador, Honduras, Panama and Peru. Late last year Dunkin’ Donuts opened its first location in Guatemala, and has announced plans to expand to Chile, Colombia and Peru and Brazil. Similar sentiments are echoed by Focus Brands International, the parent company of Auntie Anne’s, Carvel, Cinnabon, Moe’s Southwest Grill and Schlotzsky’s. Denny’s has approximately 1,700 locations worldwide, and recruits franchisees that already live in their target markets to help bring expertise to expansion efforts. Franchisees have to know not only the local flavor preferences, but also the complexities of building a store in the area. While Denny’s specializes in breakfast in the U.S., people in Latin American countries typically do not dine out for breakfasts or choose skillet menu options. For more info, click here
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