This article is a testament to the power of entrepreneurial vision and determination. It tells the story of a small business that grew into a global icon, inspiring entrepreneurs worldwide. The focus of this narrative is Doctor's Associates Inc., better known as Subway, a sandwich shop that started with a single location and has since become the third largest franchise in the world.
In a world teeming with sandwich shops, a few have managed to distinguish themselves from the crowd. Among these, Subway stands out as a global success story. As a franchise, it ranks third in the world, trailing only Yum! Brands and McDonald's in terms of the total number of stores operated. This makes it an attractive option for those considering buying a franchise.
The story of Subway began with a $1,000 loan from family friend Peter Buck to 17-year-old Fred De Luca. De Luca was trying to raise money for college and thought that starting a small business might be a good way to do it. His aspiration to become a doctor, like Buck, led to the official corporate name of Doctor's Associates Inc., which has no connection to any medical organization.
Once the doors of the first store opened, business started pouring in. Initially, the business was named Pete's Submarines, but due to a misunderstanding over the radio, it sounded like Pizza Submarines. This led to a name change to Pete's Subway, and eventually, just Subway. Regardless of the name, the business was a hit. From that first location, Subway has grown to over 29,000 locations as of 2008, operating in 86 different countries worldwide. This growth has made Subway a formidable player in the fast-food industry.
Subway is also known for one of the most memorable advertising campaigns in recent history. The campaign featured Jared Fogle, a college student who lost an impressive 245 pounds by eating Subway sandwiches and exercising. The timing of this campaign was perfect, as it coincided with America's growing health consciousness. Subway continues to use Jared's story to promote their products.
Each year, Entrepreneur Magazine releases its list of the top 500 franchise opportunities in business. Despite some past issues, Subway consistently ranks at the top of this list. In 2008, it was ranked number two, and it was also recognized as the third fastest-growing franchise and the number one global franchise.
Subway's journey from a humble beginning to a global powerhouse is a testament to the power of doing things better than the competition. Even the simplest business ideas can achieve great success if executed well. In business, the goal is to gain an edge over the competition and produce better results. Subway's story is a perfect example of this principle in action.
From Small Business To Big Business: Costco Wholesale
Entrepreneurs need inspiration. Because building a business is about having a vision and the will to succeed. The businesses in this series of articles have all started small and have since become icons of the business world. In this article we feature Costco Wholesale.
From Small Business To Big Business: Sears, Roebuck and Co.
Entrepreneurs need inspiration. Because building a business is about having a vision and the will to succeed. The businesses in this series of articles have all started small and have since become icons of the business world. In this article we feature Sears, Roebuck and Co.
From Small Business To Big Business: Eddie Bauer Holdings Inc.
Entrepreneurs need inspiration. Because building a business is about having a vision and the will to succeed. The businesses in this series of articles have all started small and have since become icons of the business world. In this article we feature Eddie Bauer Holdings Inc.
