Tuesday, 4 July 2017

Subway to open 500 new stores in UK and Ireland



Subway is seeking 500 new franchisees in the UK and Ireland in an expansion that could create 5,000 jobs.
 
The world's largest fast food brand is hoping to take its number of UK and Ireland stores to 3,000 by 2020.


Some 150 could open this year.


Subway also plans to launch a new online ordering system over the next 12 months.


The company flagged the move at a potentially risky time as consumers feel the pinch from a Brexit-related squeeze on budgets from rising prices and weaker wage growth.


It is a scenario that economists believe will continue as the UK negotiates its divorce from Brussels.


However, Subway's country director said it had yet to endure a slowdown - adding the chain was working with suppliers to "lock down prices for the next couple of years".
 
 
Peter Dowding said: "The growth expansion has been continual. What we have achieved over the last few years has been phenomenal for the brand and for our franchisees across the UK and Ireland.


"We set some very ambitious targets in 2012, where we said we would get 3,000 stores by 2020 and we are well on our way to achieving that.


"In fact, we will be opening our 2,500th store, which is a fantastic achievement for the brand in the UK. It strengthens our position in the market as being the leading quick service chain in the UK."


Subway claims its franchisees enjoy "some of the lowest start-up costs in the industry".


According to documents outlining the details online, franchisees usually sign a 20-year agreement with investment required dependent on factors including location, rent and outlet size.




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