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" After 39 years of business, I'm still learning. I go through this every year -identifying new strategies that are extremely important. "
Fred DeLuca
Business
New
Learning
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" If I were in charge of the government, I would index the minimum wage to inflation, so that way, everybody knows what they can count on. "
Fred DeLuca
Minimum Wage
Inflation
Government
" How you handle the obstacles has a big impact on how you do. If you give up, then you obviously don't get there, but if you're persistent, and you keep thinking of new ways to approach the business, you're more likely to reach your goal. "
Fred DeLuca
Thinking
Impact
Obstacles
" We're very much in the people business in that there are two important groups you have to work with: customers and employees. "
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People
Work
You
" There may be a perception that, with franchises, they're all the same, so that limits the ability to experiment. But that's not true. We've always kept two slots open on the menu of each Subway franchise - slots that franchisees can use to come up with their own sandwich ideas. "
Fred DeLuca
True
Perception
Limits
" I don't think I ever dreamt of going into business. No one in my family was in business. "
Fred DeLuca
Ever
Family
Business
" I tell everybody there are only three things that we do. We build sales at the store level, we build profits at the store level, and we build more stores. The first two things go in tandem, of course. It's pretty tough to build profits without sales. "
Fred DeLuca
Two
Build
Sales
" If I'm spending time on something, I may as well do good as opposed to average. "
Fred DeLuca
Spending Time
Well
Average
" We have always had many more franchisee candidates than available locations. "
Fred DeLuca
Always
Had
Many
" If someone wants to eat healthy, they can do that and get the sandwich exactly right. I'm so pleased we're able to influence so many people and their eating habits. "
Fred DeLuca
Influence
People
Eating
" We have salads, some other beverages. But in reality, it's still fundamentally the same business. The most likely thing the next person will buy is a sandwich and a soft drink. After a half-century of glacial change, we're still pretty much the same business. "
Fred DeLuca
Drink
Change
Business
" I guess that's one of the benefits of being sick. Your wife lets you have a big-screen TV in the living room. "
Fred DeLuca
Sick
Living
Wife
" Everybody eats three times a day; it's only a question of where they choose to eat. The longer-term trends are people eat out more often. "
Fred DeLuca
People
Day
Choose
" The payroll tax is affecting sales. It's causing sales declines. "
Fred DeLuca
Affecting
Sales
Causing
" From my point of view, my job is just to work hard for our franchisees, so they can maintain the position they're in, and to grow market share. "
Fred DeLuca
Job
Grow
Hard
" Back when we started, people didn't even know what a submarine sandwich was. The product was only sold in a few markets. "
Fred DeLuca
People
Know
Back
" The United States is a huge market, and once you get rolling, you can replicate that model over and over pretty easily. Your supply lines are taken care of. You don't have technicians to deal with. You've got your customer base. "
Fred DeLuca
Customer
You
Pretty
" Because the stores worked, franchisees wanted to build more stores. If your model works, folks who are happy with it will buy out the ones who aren't happy. "
Fred DeLuca
More
Will
Happy
" I watch 'Shark Tank,' of course. It's very entertaining. I think it's actually good to help people think about the business they might start, and sometimes you get encouraged by looking at someone going into business and saying, 'Hey, I could do that.' "
Fred DeLuca
Business
Looking
Good
" Subway is a real point of pride. We have influenced the way people eat. "
Fred DeLuca
Eat
Way
Subway
" We give great value for our franchisees: They can build a store for well under $200,000. And we have extremely simple operating systems. The preparation is mostly done in front of the customer. That simplicity is really what attracts our Subway franchise. You see it, and you can do it. "
Fred DeLuca
Simple
Simplicity
Value
" Profit or perish... There are only two ways to make money: increase sales and decrease costs. "
Fred DeLuca
Sales
Two
Costs
" When I started in the business, the minimum wage was $1.25. I've seen an enormous number of wage increases. Basically, it applies evenly to everyone in the business. "
Fred DeLuca
Minimum Wage
Everyone
Business
" Six months after we started, in 1964, there was a day when we sold only seven sandwiches. If we'd taken all the money from the register, we couldn't have paid an employee, much less the food or the rent or all that. It could have been a turning point. We could have given up. "
Fred DeLuca
Rent
Day
Employee
" I don't have much of a bucket list. I don't have a lot of needs and desires. "
Fred DeLuca
Desires
Much
Needs
" Most of the people we sign on as development agents commit to goals they don't believe are possible. "
Fred DeLuca
Development
Believe
Goals
" In a typical situation, it's going to take pretty close to a year to get your location in, get your permits, and then get open. "
Fred DeLuca
Location
Pretty
Situation
" Back in the early days of international, everybody wanted to customize the menu for every place. "
Fred DeLuca
Place
Back
Days
" I was 17 years old when I built the first store... A very simple, basic store with a basic counter - not very much equipment, all purchased second-hand. And the menu was very simple. "
Fred DeLuca
Menu
First
Basic
" You really have to understand this isn't a business where you sit in the back room and do calculations - you have to be very concerned about employees and customers, because that's really what's going to bring you success. "
Fred DeLuca
Back
Employees
Success
" I went to school because I was supposed to. I did pre-med because my mum thought it was a good idea. "
Fred DeLuca
Because
Thought
School