It’ll seem beyond belief but Subway owes its origination to science! The story is set in 1965, where a young, 17-years old boy, named Fred DeLuca was stuck in a pickle (pun intended) on how to pay for his college education. Due to helplessness he turned to a family friend, Dr. Peter Buck who was employed in the energy sector as a nuclear physicist for advice.
According to the New York Times, Dr. Peter Buck remembered a famous sub shop from the days of his youth, and suggested to Fred DeLuca that a sub shop of the same sort might make up to be a good business venture. Dr. Peter Buck further helped Fred by seeding his business venture with a sum of $1,000 as a loan.
Originally, they named their business venture, ‘Pete’s Super Submarines’ which was opened in Bridgeport, CT. But soon after, a new problem arose regarding the name, as the customers often misheard it. Fred and Dr. Peter Buck were quick to resolve this issue and shortened the name to our beloved, ‘Subway’.
On the opening day of Pete’s Super Submarines, they managed to get sold out of their signature item which was the foot-long sub sandwich, priced at mere 69 cents.
By 1966, the partners formed an association, namely, ‘Doctor’s Associates’ which was a reference to Dr. Peter Buck’s PhD and Fred’s then dream to become a doctor. The Doctor’s Associates was the holding company for Subway’s assets.
Lacking any franchise advisers or experts, in 1974, the partners set out to franchise Subway locations. With no prior experience, they aimed to set up 32 Subway outlets far from home.
But due to their good fortune and hard work, they managed to set up 200 Subway outlets by 1982 with a goal to reach 5,000 Subway outlets by 1994
One of the main reasons for Subway’s rapid growth was the low construction costs and a minimal $5,000 franchise fee. A program was also initiated by them to provide cash incentives to franchisees who supported their fellow franchises and opened new Subway outlets.
They managed to surpass their goal by a large amount, reaching 5,144 Subway outlets by 1990.
As of February, 2023 Subway has an estimated number of 36,592 outlets in more than 100 countries, almost all of which are independently owned and operated by a network of franchisees.
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Subway India inviting application for it's Franchise from India, to do business with Subway as Subway Franchise.
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Subway India inviting application for it's Franchise from India, to do business with Subway as Subway Franchise.