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Longtime Dunkin’ franchise owner, Mark Cafua, was ready to consolidate his franchise locations to specific geographic areas. Having been a client of Northern Bank’s since 2007, he looked to Northern once again to help him achieve his franchise goals.
“We were doing a lot as an organization. Our franchise locations were spread out to different geographic areas and we wanted to consolidate as quickly and cost efficiently as possible,” Mark explained.
"Jim Mawn, the CEO at Northern Bank, suggested we look into 1031 Exchange, which would allow us to speed up the consolidation process and save money.”
"The personal attention they gave us to help guide us through the 1031 Exchange process and make sure it was seamless, was a huge benefit of working with Northern Bank. The communication is phenomenal,” continued Mark.
“If you don’t have the right bank helping you,” he said, “you can miss contractual deadlines and that will disrupt the 1031 Exchange process. Northern Bank worked closely with us to make sure everything was filed and processed correctly and on time. It’s worked out very well.”
“We’re continuing to consolidate our operation and are still doing 1031's with Northern Bank,” Mark said. “It’s really beneficial to have a bank that allows us to continue to grow and works with us on meeting our goals.”
"Northern Bank has been an integral part of our growth,” he continued. “We’re constantly communicating with them on anything we work on or need advice with. They go the extra mile, every time. If there are obstacles, they help you find ways to overcome them, so it’s not an issue.”
Mark Cafua is the CEO of Cafua Management Company (CMC), the largest private Dunkin’ franchise in the world. Mark started his career in the family business at age five, perched atop two stacked milk crates working the cash register at his parents’ first location. Mark led the company’s expansion from New England into Florida in 2014. Currently, he and his brothers, David and Gregory, oversee operations at over 200 locations with over 4,000 employees on the payroll. CMC is a family-owned company with a people first culture, priding itself on commitment, integrity, respect and teamwork, and these values shine through in every customer interaction.
When Jon Erickson, owner of J. Erickson Plumbing and Heating LLC, was frustrated with his experience at a “big bank”, he turned to Northern Bank for a personal relationship focused on customer service.
For Chilacates, having a partner that understands family business and shares their passion for success made all the difference.
For one business, it chose Northern Bank for its online banking and local community feel.
Contact our Team to learn more about how Northern Bank can help you realize your goals and dreams.