SUBWAY(R) Restaurants Again Named #1 Franchise Opportunity
2010 honor is sandwich chain's 17th number one in 23 years
MILFORD, Conn. // PRNewswire // -- The SUBWAY® restaurant chain has again been named the Number One Franchise opportunity, as well as the Number One Global Franchise opportunity, for 2010 by Entrepreneur magazine in its annual "Franchise 500" rankings.
This is the 17th time in the past 23 years that the SUBWAY® chain has been recognized with the overall top honor.
First established in 1980, Entrepreneur magazine's "Franchise 500" listing is considered to be the most comprehensive and influential set of rankings in the world, taking many factors into consideration, such as financial strength and stability, growth rate, size of the system and start-up costs.
This past year, the SUBWAY® chain continued its tradition of promoting healthier dining options, expanded its successful $5 footlong promotion by incorporating its value message into its permanent pricing structure and opened more than 2,000 new locations in 49 U.S. states and the District of Columbia; seven Canadian provinces; and in 67 countries.
Now, at more than 32,000 locations in 90 countries, the chain is poised to become the world's single largest restaurant brand, in terms of number of locations.
Contributing to the brand's growth is its ability to find new markets and adapt to unique locations. This strategy has allowed SUBWAY® restaurants to be found in spaces where competitors just could not fit or found impractical.
Richard Schragger is a multi-unit SUBWAY® franchisee in the New York City area. For the next two years, his newest store will be located on top of the world! Richard's newest SUBWAY® restaurant will be on a crane, rising alongside the construction of One World Trade Center – also known as the Freedom Tower – providing meals for construction workers as the structure rises 108 stories. At 1,776 feet, it will be the tallest building in the United States and one of the tallest buildings in the world.
"The simple operation of a Subway restaurant, its reputation for quality, low fat menu options and the fact that you do not need a grill or fryer, make it a natural fit for non-traditional locations, which not only brings our great tasting food to more customers, but also provides additional business opportunities for franchisees," said Richard, who had a background in accounting before becoming a SUBWAY® franchisee five years ago.
Also contributing to the SUBWAY® chain's success is that it continues to keep its concept and operations simple, start up costs low and seeks franchisees who embrace the entrepreneurial spirit.
One such example is SUBWAY® franchisee and development agent Bob Hurley. As the newly assigned development agent for the Boston area, Bob is responsible for seeking out prospective new franchisees for his territory, guiding them through the process of opening a SUBWAY® restaurant and acting as mentor to both the new and established small business owner's while providing training, information on new initiatives and best practices that will help ensure a franchisees' success.
"Coming out on top of the Franchise 500 list is quite an achievement. Doing it 17 times is an indication of the amazing accomplishments and vast opportunities that define the Subway brand," Bob said. "We have tremendous potential in the Boston market, where we have 175 stores and are looking to increase that number by 130 over the next five years. Along with filling about 150,000-square-feet of retail space, opening 130 restaurants over the next five years will also provide about 1,300 additional jobs to people in the community."
The SUBWAY® chain has been expanding internationally since 1984 when it opened its first overseas location in the Middle Eastern nation of Bahrain. Now with more than 9,000 individually owned and operated restaurants outside of the U.S., the chain is known as a source of a wide variety of menu options that not only meet the needs of the average customer, but also honor cultural preferences and religious requirements, all while providing business opportunities to local entrepreneurs.
"Strong global support systems and brand recognition has helped us grow to almost 800 stores in Germany and are a big reason that Subway is able to maintain its distinction as the Number One Global Franchise opportunity," said Michael Pokorski, Area Development Manager for SUBWAY® restaurants in Germany. "We can attribute our success to the fact that this is a brand made up of local men and women, who are committed to making their businesses work, and represent hundreds of success stories throughout Germany. Along with providing German entrepreneurs with a chance to realize their dream of owning their own business, our franchisees are able to provide about 8,000 positions to jobseekers throughout the country."
Headquartered in Milford, Connecticut, and with regional offices in Amsterdam, Beirut, Brisbane, Miami and Singapore, the SUBWAY® chain was co-founded by Fred DeLuca and Dr. Peter Buck in 1965. The SUBWAY® brand was named the number one provider of healthy options and the most popular food brand, of chains with 5,000 or more locations, in the 2009 Zagat Fast Food Survey. In addition, Advertising Age magazine included SUBWAY® $5 dollar footlong sandwiches in its list of the 10 Best Products of the Decade.