One of the fastest growing franchises of the world, Subway has more than 35,217 restaurants in 98 countries and territories. An American restaurant franchise, Subway primarily sells submarine sandwiches and salads. Fred DeLuca, who wanted to become a medical doctor was searching for a way to help pay for his education. Following the suggestion of one of his friends, he opened a submarine sandwich shop and later his friend Dr. Peter Buck offered to become his partner by giving a loan of $1,ooo.
They opened the first store in 1965 in Connecticut with a goal of having 32 stores opened in 10 years. In 1974, the duo owned and operated 16 submarine sandwich shops throughout Connecticut. They realized that they would not reach their goal of 32 stores in time; the duo began franchising by launching the Subway brand. Their first franchise was opened in 1974 in Wallingford, Connecticut. Read full post.