The New Quiznos Capital Loan Program Provides Funds to Franchise Owners
Quiznos Rolls Out The New Quiznos (TNQ) for Superior Customer Experience
DENVER --(BUSINESS WIRE)-- Quiznos, one of the nation's premier quick service restaurant chains and pioneer of the toasted sandwich, today announced The New Quiznos (TNQ), a comprehensive guest experience remodel and brand update planned for stores system-wide. The chain also launched an accompanying TNQ Capital Loan Program to lend financial support to its franchise owners, providing necessary capital that may otherwise be difficult to secure in the current lending environment.
Quiznos founder and CEO, Rick Schaden, true to Quiznos' innovative style, leveraged Quiznos' financial wherewithal, credit and reputation to benefit its franchise owners. He developed TNQ and the TNQ Capital Loan Program in response to the sluggish performance of small business loan programs.
"We have been able to accomplish what others have not been able to accomplish, securing capital for our small business owners at a time when there is very little access to such funds," said Schaden. "Now is the time to invest in our brand, our stores and our franchise owners in order to be prepared for the new economy and remain an industry leader. By leaning into the difficult economy, we are taking care of our customers, our brand and our franchise owners."
The TNQ Capital Loan Program provides Quiznos' franchise owners access to funds at more favorable rates and terms than traditional lending in order to implement The New Quiznos.
TNQ was designed as a fully-integrated store solution, combining all aspects of store look and feel, design and overall modernization to keep Quiznos restaurants at the cutting edge of service and operations. TNQ will also serve as a platform to launch new products, product lines and consumer options, combining traditional Quiznos favorites with new flavors for a menu with broader appeal.
"As a quality brand, we take great interest in maintaining the highest standards for our stores and ensuring a delightful encounter for customers throughout every aspect of the Quiznos experience," said Schaden. "At a time when others are offering less, TNQ will allow us to offer more to our customers through exciting new products available soon nationwide, upgraded stores and a positive, consistent in-store experience."
The plan also provides extensive in-field training and best practices sharing among franchise owners to ensure each store has the tools and support to provide a superior, consistent customer experience across the brand.
Quiznos continues to leverage opportunities for greater franchise owner profitability with innovative solutions to mitigate the effect of the current economic climate and secure a strong position in the competitive restaurant industry moving forward. In addition to TNQ and TNQ Capital Loan Program, Quiznos introduced a lease renegotiation program and microloan initiative earlier this year to improve franchise owner profitability.
Celebrating its 28th anniversary, Denver-based Quiznos is a national chain designed for today's busy consumers who are looking for a tasty, freshly prepared alternative to traditional fast food restaurants. Using only premium quality ingredients, Quiznos' more than 4,500 restaurants offer creative, chef-inspired recipes for sandwiches, soups and salads.
In 2009, QSR Magazine ranked Quiznos #19 overall in its Top 50 Chains in system-wide sales. In October 2007, Quiznos was recognized for leading the QSR industry in wait time performance by the Mystery Shopping Providers Association's (MSPA) 2007 Wait Time Study. In May 2007, Zagat's consumer surveys listed Quiznos in the top 5 for Top Food, Top Facilities, Top Service and Top Overall, ahead of its direct competitors.