Product details

Subway was a limited and a quick service restaurant chain based in US. It was the fourth most valuable quick service restaurant brand worldwide. It mainly sold submarine sandwiches or subs, salads and beverages. It was founded in August 1965 by a nuclear physicist Peter Buck (Peter) and Fred DeLuca (Fred), a 17 year high school graduate. Subway had been on a growth trajectory since inception. Low cost of its franchise had helped Subway to expand quickly in the US and overseas. Subway in 2016 had 44702 restaurants worldwide, its highest count ever. However, in the same year, the company's business had started to decline. Subway continued to struggle thereafter. In 2019, the number of restaurants has reduced to 41600. More of its restaurants had closed in 2020 due to pandemic restrictions. Subway had taken several steps to improve its sales. In November 2019, Subway had revamped its executive team and had appointed former CEO of Burger King, John Chidsey as its CEO. It had announced that it would offer US franchisees grants to help them remodel locations. However, there were challenges to overcome for Subway. Competition had grown among sandwich restaurants. According to market analysts, Subway had become a stale and mismanaged brand. Stagnant prices had made it difficult for franchise owners to turn a profit. Subway had fewer drive-thrus than its competitors. Although Subway had been in the business for the last 50 years, since 2016, its business has been going downhill and the pandemic in 2020 had accentuated it. Are Subways days numbered?