Sandwich shops abound, but very few of these establishments carry trustworthy brand recognition like subway. In 1965, two young men opened a sandwich shop with just a few 1000 dollars as investment. Both men hoped to earn enough money from this venture to pay for their tuition fees for college. Just like others, the sandwich shop struggled during the first few years, but the sales somehow took off after some time. That was when they changed the name of the shop from “Pete’s Super Submarines” to “Subway”. Subway franchise possibilities were presented in 1974, which now rank at the top of virtually every franchise service ratings on the market. Subway excels at categories like franchisee satisfaction, best training program, and customer loyalty. As a efficiently created niche within the sandwich industry, Subway will continue to develop its menu; its fresh and delicious salad selections provide a remarkable share in the business’s overall revenue. The owners’ mere thousand-dollar initial investment surely repaid very well.
Subway Franchise Information
As of today, there are about 21,000 Subway franchises in the United States alone, 2,300 locations in Canada, and more than 5,500 in 80 other countries around the globe. The parent company does not own any Subway franchises, meaning franchisees no longer contend with the house office for market share or sales. Based on the variety of franchisee applications that this company receives every year, Subway is a popular option among aspiring and determined entrepreneurs. All successful franchisee applicants residing in america receive two weeks extensive training at Subway’s headquarters in Connecticut. Away from country, training facilities are available in Canada, India, China, Australia, and Germany. Subway franchisees learn operational methodology, basic management skills, as well as business concepts in these training facilities. A Subway franchise acts as a training ground for owners to perfect the role of a sandwich artist. Sixty 5 percent of all subway corporate address franchise owners manage multiple location, with at least six to ten staff for each unit. If you wish additional franchise information, you can obtain it at the official Subway website.
Continuous Support for Owners of Subway Franchises
Brand-new people who own a franchise receive continuous training. This can be inclusive in the franchise fee. The courses covers field operation evaluations, monthly newsletters, opening assistance, as well as customer service support. Marketing and promotion plays an important role in a Subway franchise. Its ad campaigns are truly remarkable and memorable they become part of the social fabric. When purchasing a Subway franchise, you benefit from the co-op advertising program, regional coupon mailing, and national marketing strategies that specifically target customers in a particular location.
Subway Franchise Cost and Fees
All franchise opportunities you discover on the market today require an upfront payment to franchisors. Subway is no exception to this particular fact, but when compared with other franchises, the subway menu with prices is quite reasonable. To purchase a franchise location, you have to pay a preliminary franchise fee of just $15,000. The company estimates an overall investment that ranges between $79,000 and $240,000. Variations in figures are due to the assorted property prices in different states and countries. You require swojxr have a value of a minimum of $30,000 and a cash liquidity of $80,000 to $300,000. The Subway Corporation offers in-house financing to protect the Subway franchise fee as well because the equipment you have to purchase. Alternative party financing can also be available if you need additional capital for start-up costs.