Do you want to become an aspiring entrepreneur and invest in a Subway franchise? If yes, you are on the right page. In this article, we will provide you with a comprehensive guide on questions asked most often regarding Subway franchises. After reading this article, you will have a better understanding of the Subway franchise process and how to confidently move to the next steps in investing in a Subway business.
The International Franchise Professionals Group (IFPG) is composed of more than 1300 franchise consultants and other service-providers for franchises. Our purpose-driven mission is based on integrity, ethics and collaboration. We have helped many aspiring entrepreneurs by guiding them through the process of identifying and investing in franchise businesses.
At the outset, there are a few things that you need to take into consideration while investing in a Subway franchise. Research is essential when it comes to investing in a Subway franchise. Most entrepreneurs are already aware of this fact. However, some might miss out on other important factors, such as understanding the terms and conditions of Subway. This is one major mistake made by entrepreneurs.
Let us now look into FAQs for Subway franchise. First, let us discuss the Subway franchise process. Subway has a multi-step franchise process: start by sending them an inquiry form on their website, followed by a phone call to assess your suitability to invest in a franchise. Once they have verified you are interested and qualified, you must submit a formal application for consideration. The final step is a face-to-face meeting with the franchise team.
Another important factor to consider is the cost associated with investing in a Subway franchise. The total estimated cost of the Subway franchise varies, however an upfront fee of $15,000 is required before you can start your business. Additionally, your exposure to a minimum of 3% royalty and the purchase of foods and supplies from the vendor should be taken into account.
Subway also requires you to have a solid business plan in place. It is important to ensure that you have the finances and skills required to manage a Subway franchise. The franchisor will not accept anyone without a solid business plan in place. Additionally, you will be provided with operational and marketing support to help you start and run your Subway franchise.
Finally, another important inquiry which needs to be addressed is the advertising and marketing support provided by Subway. Subway franchisees get access to comprehensive marketing resources, including a library of promotional materials, local store marketing (LSM) plans & creative assortments, local store advertising (LSA) agreement resources, and access to loyalty programs. Additionally, the company assists franchisees in recruiting and training new staff and store managers, as well as conducting community outreach initiatives.
By now you should have a thorough understanding of the Subway franchise process, the cost structure and the marketing and advertising support Subway offers to its franchisees. IFPG is ready to help you make informed decisions and take the next steps in investing in a Subway franchise.