Krispy Kreme is targeting shop growth again, signing a franchise development agreement with Original Entrepreneurs LLC to open 33 new units across the New York metro area throughout the next five years.
The shops will be developed in New York City and the surrounding region, including Long Island and New Jersey. The Original Entrepreneurs has been a Krispy Kreme franchisee since 2017 and currently operates 12 Krispy Kreme shops across New Jersey and New York.
“We’re pleased to continue growing with Original Entrepreneurs,” CEO Josh Charlesworth said in a statement. “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.”
Karl Halligan, principal of Original Entrepreneurs, said the company is confident in the strength of the brand.
Krispy Kreme is in the middle of a turnaround plan introduced last year after its ambitious McDonald’s partnership ended, leaving the chain with a heavy load of debt and without a major revenue stream. That four-part plan includes steps to refranchise, focus on asset-light development, cut costs, and pursue long-term profitability.
Throughout 2026, Krispy Kreme’s franchise development deals have largely focused on international markets, including the Netherlands, Estonia, and Mauritius, as part of its capital-light global expansion strategy.
In March, the company expanded its partnership with existing franchisee WKS Restaurant Group. WKS increased its stake in the joint venture from 45% to 80% and added 23 shops in California in Hawaii. The franchisee also agreed to develop additional shops as part of that agreement. However, this was a refranchising transaction with an existing partner versus a new standalone agreement.
Krispy Kreme steadily grew its shops following its IPO in 2000 and by 2004, it operated 338 U.S. locations. However, from 2005 to 2009, the unit base declined sharply to 224, according to Technomic data, reflecting a period of significant retrenchment.
The chain steadily rebuilt throughout the next decade-plus, peaking at 368 shops in 2021. The company had 350 locations at the end of 2025, per Technomic. The website currently lists 361 shops.
Contact Alicia Kelso at [email protected]
Follow her on TikTok: @aliciakelso