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" 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. "

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" Every time I come across learning items of interest, I'll send distribution voice mail to the appropriate group in the organization. "

Fred DeLuca

Time

Learning

Organization

" From my point of view, what I really like, what I think is really terrific about my work, is that the company's had the opportunity to train literally thousands and thousands of brand new franchisees to successfully run their very first business. "

" To a large extent, we're working hard to fulfill the consumer demand for Subway sandwiches. "

" You have to be able to communicate the vision to the people in your organization so that they know where and how they should direct themselves on a day-to-day basis. "

" Profit or perish... There are only two ways to make money: increase sales and decrease costs. "

" The payroll tax is affecting sales. It's causing sales declines. "

" I was able to solve enough big problems along the way that the sheriff didn't come along and put the 'bankruptcy' sign up. "

" A lot of stuff happens daily when you're running a company like Subway. If you get too happy about some things or too unhappy about others, you get worn out. It's best if you can pace yourself a little bit more. "

" 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. "

" When we first started the company, I didn't have any thoughts of franchising. We just had company-owned stores. "

" I don't have any interest in cashing out or leaving the business or doing something else. I just love Subway, and I want to keep focusing on the company for the benefit of all our franchise owners. So I'm kind of like married to the job. "

" 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. "

" You start a business, and you really don't have much of a budget. "

" I know a lot of people at some point in their business careers decide they'll just cash in and do something else, but for some reason, I've never had that feeling. "

" Back in the early days of international, everybody wanted to customize the menu for every place. "

" If I'm spending time on something, I may as well do good as opposed to average. "

" I don't think I ever dreamt of going into business. No one in my family was in business. "

" In the U.S. and Canada, we have one store for every 12,000 people. "

" For a franchise system to work well, you really need people with an entrepreneurial mind-set because, while you have a large, overarching system that everybody has to work with, a lot of local issues have to be handled. "

" By and large, we're a bread-eating culture. People like sandwiches. We don't really over-think that one. "

" 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. "

" 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. "

" It's tough for people to get into business, especially a small business. "

" 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. "

" 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. "

" I don't have much of a bucket list. I don't have a lot of needs and desires. "

" There are so many ingredients that are approved for use. You can't be an expert on all of them. "

" 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. "

" After 39 years of business, I'm still learning. I go through this every year -identifying new strategies that are extremely important. "

" 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

Will

Happy