Quiznos Signs Master Franchise Agreement with International Partner to Introduce Toasty® Tastes in Argentina, Chile, Ecuador
DENVER--(BUSINESS WIRE)--Quiznos, one of the nation's premier quick-service restaurant chains and pioneer of the toasted sandwich, today announced that a master franchise agreement has been signed to expand into Argentina, Chile and Ecuador as part of the company's recently announced initiative for international development. Current plans call for the development of 30 locations in these countries.
Quiznos awarded master franchising rights for Argentina, Chile and Ecuador to QSR International, a quick-service holding company with more than 11 years experience in the quick-service restaurant industry. QSR International currently owns, licenses and operates 99 restaurants, as well as a restaurant service and support center, supply chain store, industrial bakery and real estate investment company, for unparalleled local infrastructure and industry expertise.
"The single most important factor in the success of a new international market is an excellent local partner," said Lee Vala, Quiznos International Chief Development Officer. "In the past Quiznos has generally enjoyed success in Central and South America and we are eager to try to replicate that success in these new markets. We are pleased to collaborate with QSR International and grow with master franchisees who are as passionate about the brand as we are."
Quiznos adds Argentina, Chile and Ecuador to its current portfolio of nine countries and territories in Central and South America. Quiznos restaurants in this region have generally been among the company's more successful locations in the world in the past.
"Quiznos enjoys the distinction of a high-quality, unique brand in a fast casual segment that is underdeveloped in these countries. With exceptional facilities, quality ingredients and a chef-inspired menu, Quiznos is definitely in the top echelon of the fast food set, which often translates to higher traffic, more transactions, higher volumes and hopefully, better profitability," said Richard Eisenberg, QSR International President. "Quiznos is a great company, providing excellent guidance and unparalleled support. We speak the same language, we understand one another and we know what needs to be done to be successful in opening new markets."
Over the next two years, Quiznos plans to grow the brand's international footprint to more than 40 countries and territories, with target markets in Central and South America, Europe, the Middle East, and Southeast Asia. With a global rise in entrepreneurialism and many of the costs of entry at or near historic lows, Quiznos international expansion is designed to meet growing interest and demand from prospective master franchisees in both developed and emerging markets.
Now in its 30th year, 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 premium ingredients, Quiznos nearly 4,000 restaurants offer creative, chef-inspired recipes for sandwiches, soups and salads.
CNN Money ranked toasty sub pioneer Quiznos as the No. 2 most popular franchise of the past decade in 2010. In 2009, Quiznos Toasty Torpedoes® earned a spot as one of the top 10 new product introductions from the Most Memorable New Product Launch Survey. Also in 2009, QSR Magazine ranked Quiznos No. 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.