More than 20 master franchise agreements in three years fuels international restaurant growth, including doubling of new restaurant openings
MIAMI, Oct. 1, 2024 /PRNewswire/ -- Subway®, one of the world's largest restaurant brands, is reaching new milestones as it makes progress on its global growth strategy to expand its footprint, while delivering a high-quality, convenient guest experience around the world.
Over the past three years, Subway has signed more than 20 master franchise agreements, resulting in over 10,000 future restaurant commitments and contributing to over 40% of the brand's new restaurant openings this year. Seven of the 20 master franchise agreements have been signed in 2024, marking its entry into Paraguay and Mongolia and significantly expanding its presence across France, the Czech Republic, Luxembourg, Belgium, Switzerland, Liechtenstein, Brazil, El Salvador and Guatemala. In total, these agreements will result in 2,000 future restaurant commitments, with more agreements expected before the year's end.
Subway's international growth, coupled with its focus on attracting multi-unit operators, including large, national corporate partners, has accelerated new restaurant openings. The brand is on track to more than double the number of new restaurant openings in 2024, compared to 2019 (pre-COVID).
"Subway's global growth strategy of partnering with well-resourced, experienced multi-unit operators is proving to be successful," said Mike Kehoe, Global Chief Development Officer, Subway. "By working with the right partners, we are making significant strides in modernizing our brand image with both new and remodeled restaurants, improving our overall guest experience, and growing digital sales."
As part of Subway's smart growth strategy and ensuring restaurants are in the right location, image and format, the brand is also focused on strengthening its non-traditional business, which accounts for approximately one quarter of its global footprint. This includes signing new and expanded development agreements with brands, like Love's Travel Stops, and strengthening long-term retail relationships with leading companies, such as Walmart and Aramark. Subway is also taking advantage of its flexible format to grow its presence in airports, with partners like Areas in Mexico and Spain, as well as on college and hospital campuses.
"Subway's flexible format allows the brand to fit into various retails spaces, with low investment requirements, making it an ideal opportunity for a multi-unit franchisee or national partner looking to expand their portfolio," said Kehoe.
About Subway® Restaurants
As one of the world's largest quick service restaurant brands, Subway serves freshly made-to-order sandwiches, wraps, salads and bowls to millions of guests, across more than 100 countries and territories in nearly 37,000 restaurants every day. Subway restaurants are owned and operated by Subway franchisees—a network that includes thousands of dedicated entrepreneurs and small business owners—who are committed to delivering the best guest experience possible in their local communities.
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SOURCE Subway Restaurants