Miles Herring, whose family has owned a Krispy Kreme franchise in Myrtle Beach since the 1960s, said with several stores in Horry County and a franchise in Wilmington, N.C., it made sense to extend his company’s reach to the Berkeley, Charleston and Dorchester counties market.
By Andy Owens
Published Feb. 23, 2010
Krispy Kreme’s corporate office has sold the company’s store on Savannah Highway to a South Carolina-based franchisee who plans to expand in the Charleston region.
Miles Herring, whose family has owned a Krispy Kreme franchise in Myrtle Beach since the 1960s, said with several stores in Horry County and a franchise in Wilmington, N.C., it made sense to extend his company’s reach along the coast of South Carolina.
“It touches my existing market, so it’s a logical expansion on the coast,” said Herring, a 1993 College of Charleston graduate. “They have a handful of company-owned markets, and they have a large franchise group. They franchised out the Charleston market.”
Herring said that means he owns the retail, whole sale and fundraising rights to Krispy Kreme in Charleston, Berkeley and Dorchester counties. Herring said his company definitely plans to expand but hasn’t decided on any one place yet.
“We’re actively looking as we speak,” he said.
Krispy Kreme recently changed its franchise agreement to give franchise owners more options, he said. Instead of requiring a standalone store with a large footprint, franchisees can now open in strip mall space or available end-cap retail space for greater visibility and to take advantage of existing traffic patterns.
Herring said his company is customer-oriented, and he’s made changes at the existing store on Savannah Highway to ensure that’s carried forward.
“We’re focusing on our customers 100%,” he said.
Dunkin’ Donuts announced an expansion into the region in May 2008. At the time the company said it planned to open 20 stores over the next 24 months, which would be a $10 million investment that would create more than 300 jobs.
The company, led by a former Morgan Stanley investment banker, purchased the rights to a six-county market from Hilton Head to Myrtle Beach.
Herring said when Dunkin’ Donuts expanded into the Myrtle Beach area, his sales still increased, so he thinks expanding in the Lowcountry with the Krispy Kreme franchise will be successful.
“Nothing wrong with that company at all,” Herring said. “They don’t focus on doughnuts 100% like Krispy Kreme does. We are doughnuts and coffee.”