Restaurant brand Subway has signed master franchise agreements to expand its global presence, planning to establish over 10,000 new restaurants.
Master͏͏ Franchise Agreements͏͏ Fueling͏͏ Growth:
This͏͏ growth͏͏ is͏͏ driven͏͏ by͏͏ over͏͏ 20͏͏ master͏͏ franchise͏͏ agreements͏͏ signed͏͏ in͏͏ the͏͏ past͏͏ three͏͏ years.
This͏͏ year,͏͏ the͏͏ brand͏͏ has͏͏ secured͏͏ seven͏͏ master͏͏ franchise͏͏ agreements,͏͏ allowing͏͏ its͏͏ entry͏͏ into͏͏ Paraguay͏͏ and͏͏ Mongolia.
This͏͏ expansion͏͏ also͏͏ involves͏͏ a͏͏ significant͏͏ increase͏͏ in͏͏ the͏͏ brand’s͏͏ presence͏͏ across͏͏ various͏͏ European͏͏ countries͏͏ and͏͏ regions͏͏ in͏͏ Latin͏͏ America.
Continue͏͏ Exploring:͏͏ Subway signs͏͏ master͏͏ franchise deal for͏͏ expansion͏͏ in͏͏ Switzerland͏͏ and͏͏ Liechtenstein
2,000͏͏ New͏͏ Restaurants͏͏ on͏͏ the͏͏ Horizon:
The͏͏ agreements͏͏ will͏͏ facilitate͏͏ the͏͏ establishment͏͏ of͏͏ 2,000͏͏ future͏͏ restaurants,͏͏ with͏͏ additional͏͏ openings͏͏ anticipated͏͏ before͏͏ the͏͏ year͏͏ ends.
Subway͏͏ highlighted͏͏ that͏͏ its͏͏ strategy͏͏ to͏͏ attract͏͏ multi-unit͏͏ operators͏͏ and͏͏ large͏͏ national͏͏ corporate͏͏ partners͏͏ has͏͏ significantly͏͏ accelerated͏͏ new͏͏ restaurant͏͏ openings.
The͏͏ brand͏͏ is͏͏ set͏͏ to͏͏ more͏͏ than͏͏ double͏͏ its͏͏ new͏͏ restaurant͏͏ openings͏͏ in͏͏ 2024͏͏ compared͏͏ to͏͏ 2019,͏͏ the͏͏ year͏͏ before͏͏ the͏͏ COVID-19͏͏ pandemic.
A͏͏ key͏͏ part͏͏ of͏͏ Subway’s͏͏ growth͏͏ strategy͏͏ centres͏͏ on͏͏ non-traditional͏͏ business,͏͏ which͏͏ now͏͏ accounts͏͏ for͏͏ one-quarter͏͏ of͏͏ its͏͏ global͏͏ presence.
This͏͏ encompasses͏͏ new͏͏ and͏͏ expanded͏͏ development͏͏ agreements͏͏ with͏͏ brands͏͏ like͏͏ Love’s͏͏ Travel͏͏ Stops͏͏ and͏͏ strengthening͏͏ long-standing͏͏ retail͏͏ partnerships͏͏ with͏͏ industry͏͏ leaders͏͏ such͏͏ as͏͏ Walmart͏͏ and͏͏ Aramark.
Furthermore,͏͏ Subway͏͏ is͏͏ increasing͏͏ its͏͏ presence͏͏ in͏͏ high-traffic͏͏ locations,͏͏ including͏͏ airports,͏͏ college͏͏ campuses,͏͏ and͏͏ hospitals,͏͏ thereby͏͏ further͏͏ diversifying͏͏ its͏͏ portfolio͏͏ and͏͏ expanding͏͏ its͏͏ reach.
Subway’s͏͏ Global͏͏ Chief͏͏ Development͏͏ Officer,͏͏ Mike͏͏ Kehoe,͏͏ stated,͏͏ “Subway’s͏͏ global͏͏ growth͏͏ strategy͏͏ of͏͏ collaborating͏͏ with͏͏ well-resourced͏͏ and͏͏ experienced͏͏ multi-unit͏͏ operators͏͏ is͏͏ proving͏͏ to͏͏ be͏͏ successful.”
“By͏͏ collaborating͏͏ with͏͏ the͏͏ right͏͏ partners,͏͏ we͏͏ are͏͏ making͏͏ significant͏͏ progress͏͏ in͏͏ modernising͏͏ our͏͏ brand͏͏ image͏͏ through͏͏ both͏͏ new͏͏ and͏͏ renovated͏͏ restaurants,͏͏ enhancing͏͏ the͏͏ overall͏͏ guest͏͏ experience,͏͏ and͏͏ increasing͏͏ digital͏͏ sales.”
“Subway’s͏͏ flexible͏͏ format͏͏ enables͏͏ the͏͏ brand͏͏ to͏͏ adapt͏͏ to͏͏ various͏͏ retail͏͏ spaces͏͏ with͏͏ low͏͏ investment͏͏ requirements,͏͏ making͏͏ it͏͏ an͏͏ ideal͏͏ opportunity͏͏ for͏͏ multi-unit͏͏ franchisees͏͏ or͏͏ national͏͏ partners͏͏ seeking͏͏ to͏͏ expand͏͏ their͏͏ portfolio.”
