Industry Type: Fast Food
Founded In: Bridgeport, Connecticut, U.S. (1965)
Founders:Fred De Luca and Peter Buck
Headquarters:Milford, Connecticut, USA
Key people:Fred De Luca(President)
and other food items.
Revenue:▲ $ 9.0305 Billion USD P.A
Owners:Doctor’s Associate Inc.
Subway is an American food restaurant which sells Sandwiches, Burgers, Salads and other drinking items. It is owned and operated by Doctor’s Associate Inc of USA. Subway is one of the fastest growing restaurants in the world with approximately 33,566 franchises in 92 countries as of October, 1st 2010.
It is the largest single-brand restaurant and franchise chain globally and the second largest restaurant operator globally after Yum! Brands (35,000 locations). Subway has the largest number of franchises in USA than anyother QSR Resturant .Subway's main Headquarters are located in Milford, Connecticut, USA and five regional centers support Subway's growing international operations.
The regional offices for European franchises are located in Amsterdam, Netherlands. Australia and New Zealand. Whereas support Office are located in Brisbane and Australia. The Middle Eastern locations are supported from offices located in Beirut, Lebanon. The Asia Pacific locations from Singapore; India and Pakistan and the Latin America support center is in Miami, Florida. In United Kingdom the company hopes to expand to 2000 restaurants by some time in 2010. History
In 1965, Fred De Luca borrowed $1,000 from his family friends; Haydee Pinero and Peter Buck to start his first sandwich shop. At this time he was only 17 years old. He was raising money to pay for his college dues. Dr. Peter Buck suggested to Fred that he should open a sandwich shop in order to make enough money to pay for college tution.
After raising the money, he deeply examined the different locations in Connecticut for his new resturant. At last he decided to set up his resturant in a mediocre location of Connecticut, which was the corner of East Main Street, Boston Avenue in Bridgeport, Connecticut.
By the noon on the opening day, he saw a number of customers were pouring in. He was surprised to see a tremendous response from the customers. On the radio advertisement they had promoted the name of his resturant as Pete's Submarines, which sounded like "Pizza Marines", so they changed the name to "Pete's Subs"; eventually they adopted the "Subway" name and they decorated the store with maps of the New York City subway system; a theme that continues to this day. As of December 30, 2008, the company has 32,401 franchised locations in 91 countries and produced US$9.05 billion in sales every year. In 2007, Forbes magazine named Fred De Luca # 242 of the 400 richest Americans with a net worth of $1.5 billion.
In addition to the locations of traditional restaurants, Subway operates in many non-traditional locations. For instance, there are over 900 Subway locations inside of Wal-Mart stores and 200 on military bases, including several in Iraq and Afghanistan, there are three branches located inside The Pentagon, as well as an increasing number on college and university campuses.
In United Kingdom, the company has introduced a new concept of mobile resturants which are responsible for providing the products to the customers at convenient locations. Today it is holding more than US 9.05 billion dollar sales worldwide.Subway restaurants have been consistently ranked in Entrepreneur Magazine's Top 500 Franchises and was selected as the #2 overall franchises in 2008. Additionally, it was ranked as the #3 "Fastest Growing Franchise", and the #1 "Global Franchise" as well.
Mission & Vision
“To Become a Healthy Fast Food Chain Offering a Variety of...