Subway is continuing to grow with the signing of more than 20 master franchise agreements for more than 10,000 future restaurants. Seven of those agreements were inked this year, marking the brand’s entrance into Paraguay and Mongolia and significantly expanding Subways’ presence in 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, according to a press release.
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,” Mike Kehoe, global chief development officer, Subway, said in the press release. “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.”
The brand is also focused on strengthening its non-traditional business, including partnerships with Love’s Travel Stops, and strengthening long-term retail relationships with companies like Walmart and Aramark.
“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,” Kehoe added.
Subway operates nearly 37,000 restaurants in more than 100 countries and territories.
Source: QSR Web
