Subway owner Fred Deluca told CNBC Wednesday that because of more government regulations and taxes and upcoming Obamacare, he won’t be able to build his company in today’s climate. He mentioned the biggest concern of their franchisees is the 2014 Obamacare. Deluca also said, “If I started Subway today, Subway would not exist.”
In 1965, Deluca borrowed $1,000 from a friend to start a sandwich shop in order to support his medical school. Today Subway is a $16 billion industry with 37,881 restaurants in 98 countries. It is the second lagest restaurant operator in the world after Yum and also second largest single brand restaurant chain in the world. It’s popular for its 5-foot-long sandwich and the B.M.T.
It opened its first offshore restaurant in 1984 on Bahrain, a Middle East country. In 2006, its first kosher restaurant opened in Cleveland, Ohio. They also opened vegetarian Subway in India last 2001 with now a total of 324 restaurants in the country.
Copyright 2013 Ketchie V. Schauf