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Word Count: 417
The Subway Franchise The Subway story started in 1965 in Bridgeport Connecticut during the summer of 1965 17 year old Fred DeLuca was trying to earn enough money to pay for his college tuition by working in a hardware store He wanted a way to add money to his minimum wage salary He got the solution at a backyard barbecue in a conversation with a family friend nuclear physicist Dr Peter Buck With a 1000 loan from Buck DeLuca opened Petes Super Submarine on August 28 1965 One year later he opened his second shop so customers would see him expanding and believe that he was successful In an effort to increase visibility to customers he shortened the name to Subway and introduced the bright yellow logo The first Subway franchise opened in Wallingford Connecticut in 1974 The initial franchise fee is 10000 for a moderate cost store By the time you add in the 7500 leasehold improvements the 2500 equipment lease security deposit the 3000 operating inventory and the other costs the total investment for a moderate cost store is roughly 104500 There is an 8 weekly royalty fee and a 25 weekly advertising fee The franchisee is responsible for the franchise fee and the leasehold improvements They also have to lease or purchase equipment hire the employees and do the daily operation of the store The franchisee also has to pay the weekly advertising and royalty fees The company provides access to proven formulas operational systems site evaluation The company also provides training at headquarters in Connecticut They give the franchisee an operations manual and provide a representative on site during opening The company will periodically evaluate the store They also provide marketing and advertising support The company helps design the store and tells you what equipment you need 94 of all franchise owners consider their Subway successful In 1965 there was one Subway open In 1990 there were 5144
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