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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
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" Back in the early days of international, everybody wanted to customize the menu for every place. "
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Back
Days
" The payroll tax is affecting sales. It's causing sales declines. "
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Affecting
Sales
Causing
" 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. "
Fred DeLuca
Reason
Feeling
Know
" Back when we started, people didn't even know what a submarine sandwich was. The product was only sold in a few markets. "
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" 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
" I was able to solve enough big problems along the way that the sheriff didn't come along and put the 'bankruptcy' sign up. "
Fred DeLuca
Way
Along
Problems
" 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
" 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
" We find that no matter what country we're in, if we hit the right economic notes and appeal to the mass market, we're able to build the business very, very rapidly. "
Fred DeLuca
Country
Matter
Build
" When we first started the company, I didn't have any thoughts of franchising. We just had company-owned stores. "
Fred DeLuca
Thoughts
Company
Started
" 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
" 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
" 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
" You have to realize that the customer really is king. People who go into more established businesses probably have to be careful not to be casual about that. When you have a brand-new business, and nobody knows who you are, you know you have to work really hard for your customers. "
Fred DeLuca
Know
King
Business
" In the U.S. and Canada, we have one store for every 12,000 people. "
Fred DeLuca
Canada
People
Store
" When you're invested in your own business, you're going to run it better. When people are financially responsible for whether their store succeeds, they're going to have that kind of entrepreneurial spirit that's harder to get if headquarters is running things. "
Fred DeLuca
Business
Better
You
" I made the first sandwich before entering college. "
Fred DeLuca
Made
First
Before
" Subway is a real point of pride. We have influenced the way people eat. "
Fred DeLuca
Eat
Way
Subway
" To a large extent, we're working hard to fulfill the consumer demand for Subway sandwiches. "
Fred DeLuca
Working Hard
Hard
Subway
" 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. "
Fred DeLuca
Daily
Happy
You
" If you treat people nicely, and you allow them to fulfill a role that is satisfying for them, they'll accomplish a lot, and they'll enjoy their work. "
Fred DeLuca
Role
Work
Enjoy
" We're very much in the people business in that there are two important groups you have to work with: customers and employees. "
Fred DeLuca
People
Work
You
" Profit or perish... There are only two ways to make money: increase sales and decrease costs. "
Fred DeLuca
Sales
Two
Costs
" 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. "
Fred DeLuca
Love
Company
Doing
" Higher unemployment generally bodes well for franchising. People are looking for a new opportunity, and people who have jobs are a little less confident they'll always have a job. "
Fred DeLuca
New
Looking
Opportunity
" You start a business, and you really don't have much of a budget. "
Fred DeLuca
Business
Start
Much
" There are so many ingredients that are approved for use. You can't be an expert on all of them. "
Fred DeLuca
You
Expert
Ingredients
" 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
" I don't think I ever dreamt of going into business. No one in my family was in business. "
Fred DeLuca
Ever
Family
Business