Move over McDonald’s, Subway, is the new king of the global fast food restaurant chains. Don’t believe it? Look at the numbers: Subway had 33,749 restaurants vis-à-vis McDonald's 32,737, across the world, at the end of 2010, according to cnnfn.com. Subway has since then grown its number of stores or restaurants further to 34,225, currently, as per the latest data available on the company’s website.
Subway began as a healthy alternative to fast food offering Submarine sandwiches and salads. Some of its best selling items include Chicken Cordon Bleu, $5-Footlong Subs and Meatball Pepperoni amongst others.
Boost from recession!
Fast food chains like Subway and McDonald’s have got big boost from the worldwide recession post-2008 that has seen even ultra-affluent consumers switching to fast foods from expensive dining at posh restaurants. For instance, in the US, affluent consumers increased spending at QSRs (Quick Service Restaurant) by 4%, and average consumer spending rose slightly more by 5%, in contrast, the casual dining category spending decreased by 3%, a latest study by American Express Business Insights shows. The report further highlights that the QSR category also gained from a jump of 6% in spending by large businesses in its domestic market.
SUBWAY Saga
The Subway saga began in August 1965 when 17-year-old Fred DeLuca, who was still in his college, along with Dr. Peter Buck, a family friend, joined hands to start Pete’s Super Submarines in Bridgeport, Connecticut, US, offering healthy alternative to fast food restaurants. After the first few years, the duo changed their company’s name to Subway. Nine years later, in 1974, the founders decided to experiment with the franchisee format to fuel the company’s growth.
“It’s a feeling of accomplishment, for sure…But we didn't set out to surpass anyone in particular,” told Subway’s spokesman Les Winograd to Cnnfn.com.
While Subway’s feat is really commendable, it would be interesting to watch how McDonald’s responds after being relegated to the second spot in the ivy league of QSRs.
Amy, Chief Editor
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