Fred deluca the co-founder of Subway sandwiches and who was a 17 year old high school graduate with a goal of going to college and one day a doctor, peter buck, friend of deluca had seen a successful submarine sandwich in his state of maine. Now here deluca had asked peter for some help on how to raise money for his study, peter had this idea of the sandwich shop which he thought would make a great venture for this enthusiastic young student. In august 1965, dr. Peter loaned fred $1,000 to pen his first unit in bridge port, Connecticut which sold freshly made footlong sandwiches. A business plan was formed. As part of the plan, a goal was set to open 32 stores in the first ten years of operations.
In 1974 after nine years had passed, only 16 stores were opened. How would they reached their goal? Fred’s solution? Franchising. Why not get other people involved in this opportunity fred and peter hit their goal of 32 stores the following year and proceeded to set a new goal : target 200.As they reached the 200 store mark in 1981, fred announced his latest and most system has over 15000 units open in 75 countries with the incredible feat of opening 1,000 restaurants a year for the past eight years.