Start Small, Finish Big: Fifteen Key Lessons to Start - and Run - Your Own Successful Business

To start his first sandwich shop in 1965 when he was seventeen years old, DeLuca borrowed $1,000 from friend Peter Buck, after Buck suggested the idea to help Fred make money for college to study medicine. Deluca's plan was to begin a fast-food venture that provided a healthier, less fattening bill of fare"". On the radio advertisement they had promoted the name as Pete's Submarines, which sounded like Pizza Marine, so they changed the name to Pete's Subway.  Eventually in 1968, it was shortened to Subway as it is known today.

The first shop opened on August 28, 1965 at a mediocre location in the city of Bridgeport, Connecticut. The first year of business was a learning experience and a challenge. A year later they opened their second location, having realized that visibility and marketing were key factors to success. DeLuca believed that the biggest mistake he made was where he set up his very first shop as it was a ""crummy location.  The third outlet was in a highly visible location and that location is still there today.

In 1978, Subway&;s 100th store opened, and reached the 1,000 store mark in 1987. Explosive growth continued with Subway opening over 1,100 units in 1993 alone. By comparison, McDonald's opened just under 800 that same year.

The  company now counts over 38,000  franchised locations in 100 countries and produces over $16.6 billion in US sales every year.  Today, Subway is one of the most popular chain restaurants.

 

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