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Subway has almost 37,000 restaurants in over 100 countries, second only to McDonald's with over 38,000. With its ambitions for thousands of additional shops worldwide, the sandwich business may aim for #1.
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Subway announced 15 new master franchise agreements over the previous two years this week. The current arrangement will add over 4,000 restaurants to Europe, the Middle East, Africa, Asia Pacific, Latin America, and the Caribbean within 20 years.
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It's not stopping at 4,000 vacancies. Subway claimed its 15 master franchise agreements contain almost 9,000 potential location commitments. The timing for all 9,000 openings remained unclear, but Subway fans worldwide should expect to see many more of those distinctive green and yellow emblems.
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"There is significant opportunity for Metro to expand its presence around the world and the new master franchise deals are a reflection of the confidence that operators have in Subway and our transformation journey," Subway CEO stated.
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"As we continue to execute against our global growth strategy, we are excited to grow the brand with fresh and existing international multi-unit and multi-brand operators to serve more guests around the globe."
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After rough years in the US, Subway is expanding internationally. More than 1,000 American Subway outlets shuttered in 2021 and 571 in 2022 as sales recovered from the COVID-19 outbreak. Last month, Subway's US restaurant count was 20,576—its lowest since 2005.
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The company has many reasons to be hopeful about its future in the US and abroad. In April, it said it will open 35% more North American restaurants in 2023 than in 2022. (The 2022 North American openings were unclear.)
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The firm wants to rebuild 3,600 North American restaurants this year to update its image. The business stated this would increase "current Subway image" restaurants to over 10,000 by summer.
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