Franchising

Subway inks 5 multi-user agreements

Provided

April 17, 2023

Subway has inked five multi-unit owner agreements across Texas, Florida, Arizona and the mid-Atlantic, according to a press release.

The agreements brought more the consolidation and transfer of more than 230 existing restaurants in 2023. Through the agreement, franchisees plan to remodel existing restaurants and open new Subways in the coming years.

"A key element of Subway's multi-year transformation journey is attracting multi-unit owners with the vision, resources, operating expertise and passion for the Subway brand," Trevor Haynes, president of Subway North America, said in the release. "All five multi-unit agreements are an excellent representation of the brand's smart growth strategy coming to life and demonstrate the confidence operators have in our brand and future."

Joining the Subway family are two new proven operators in the restaurant industry with experience running other QSR brands. In addition, existing multi-unit owners continue to make significant investments in the brand, including one that acquired more than 100 existing restaurants, expanding their portfolio to more than 140 locations.

"Subway is an iconic brand that has undeniably refreshed every part of its business over the past few years with the introduction of new menu items, unique guest experiences and operational enhancements," Tim Foley, managing partner and founder of EYAS Capital, one of Subway's new multi-unit owners, said in the press release. "Our team is excited to add Subway, the global leader in the sandwich space, to our portfolio and be a part of Subway's future growth."

Subway expects to grow by 35% in 2023 versus 2022. An additional 3,600 locations are expected to be remodeled this year.

Subway operates more than 37,000 restaurants across more than 100 countries.