There may be a perception that, with franchises, they're all the same, so that limits the ability to experiment. But that's not true. We've always kept two slots open on the menu of each Subway franchise - slots that franchisees can use to come up with their own sandwich ideas.
From Fred DeLuca
We find that no matter what country we're in, if we hit the right economic notes and appeal to the mass market, we're able to build the business very, very rapidly.
Everybody eats three times a day; it's only a question of where they choose to eat. The longer-term trends are people eat out more often.
In the U.S. and Canada, we have one store for every 12,000 people.
In 1974, we began franchising. We didn't have any big thought process except that, 'OK, franchising will help us get to our goal of 32 stores and help us run stores farther away from home.'
Because the stores worked, franchisees wanted to build more stores. If your model works, folks who are happy with it will buy out the ones who aren't happy.
A lot of stuff happens daily when you're running a company like Subway. If you get too happy about some things or too unhappy about others, you get worn out. It's best if you can pace yourself a little bit more.
I tell everybody there are only three things that we do. We build sales at the store level, we build profits at the store level, and we build more stores. The first two things go in tandem, of course. It's pretty tough to build profits without sales.
After 39 years of business, I'm still learning. I go through this every year -identifying new strategies that are extremely important.
From my point of view, my job is just to work hard for our franchisees, so they can maintain the position they're in, and to grow market share.
10 perspectives
5 perspectives
4 perspectives
3 perspectives
2 perspectives
1 perspectives