32390 Subway restaurants in 91 countries – that is the latest running count on Subway Restaurants’ official website! What is amazing about this number is that each of these restaurants is managed and operated by people just like you and me, who’ve dreamed of having their own successful businesses. If you also aspire to be a part of the ‘best franchise’ in the world, read on to find out how to become a Subway franchise owner.
- According to information available on the website, there are four ways in which you can research franchise opportunities with Subway: (a) Requesting a full brochure; (b) attending seminars or trade shows frequently organized by the company in your area; (c) look for special-location franchises; and (d) buy a Subway restaurant if the current owner is willing to sell.
- The next thing to consider is the amount of investment required to start a franchise restaurant. This will depend on the size, location and type of restaurant space you have in mind, plus the cost of construction and/or refurbishment to bring it in line with Subway franchise standards.
The money required to become a Subway franchise owner is in the range of $110,000 and $230,000 per franchise. As previously mentioned, this will depend on location, size and the amount of work required establishing a standard Subway restaurant. The expenses are broken up as follows:
- Franchise fee - $15,000
- Property and equipment leasing, refurbishment, etc - $75,000 to $170,000
- Inventory and supplies, advertising, etc - $17,000 to $35,000
- Training, travel and miscellaneous expenses - $5,000 to $15,000
The above costs are estimates for an ideal situation, but expect higher expenses if you include operating expenses for the first few months, cost of insurance, buying instead of leasing equipment and so on. On the other hand, if you are buying an existing restaurant, much of these costs will not be required.
A step-by-step guideline on becoming a Subway franchise owner;
- Complete and send the franchise application form to Subway;
- Put together the finances required for funding your franchise restaurant – from personal and family funds, bank loans, etc. Subway will also help you out in securing the necessary investment, once your application is approved.
- Attend the Subway franchise training program;
- Scout and finalize the restaurant location, buy or lease the space after Subway approves the location and make the necessary remodeling/refurbishment changes as per Subway standards.
- Hire and train employees to man the restaurant, stock up on inventory and supplies as required and you’re good to go!