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" If you have company-owned stores, you make 100 percent of the profit from each one, but you have less entrepreneurial spirit. "

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" 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. "

" 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. "

" Everybody who goes through the business will make mistakes. The big question is how big will the mistakes be? How fast will they learn from the mistakes, and how quickly will they get the business in the correct direction? "

" I went to school because I was supposed to. I did pre-med because my mum thought it was a good idea. "

" 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. "

" 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. "

" 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. "

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

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

" 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. "

" 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. "

" You could have everything right but be in the wrong place. You think your business is no good, but really, the problem is your place is no good. "

" There's huge access to information. If you need to learn something, you can go on the Internet and learn very quickly. You can reach across miles and miles to find companies that can assist you. "

" 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. "

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

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

" Even if you set a long-term goal, that doesn't mean it's a straight-line journey. Often, there are problems and obstacles along the way. "

" The people who come to work deserve to be paid properly, and there's no excuse. I could understand someone making a small error, but sometimes people make systematic errors, and that's not right. "

" 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.' "

" Most of the people we sign on as development agents commit to goals they don't believe are possible. "

" We have always had many more franchisee candidates than available locations. "

" A couple times a year, I get in the car, and I'll drive 1,000 miles cross-country, going through side streets. I'll stay off the highways as much as possible. And I realize it's a huge country, and for us to be in so many places in the country is an amazing thing. "

" I guess that's one of the benefits of being sick. Your wife lets you have a big-screen TV in the living room. "

" Subway is a real point of pride. We have influenced the way people eat. "

" In 1974, we began franchising. We didn't have any big thought process except that, 'OK, franchising will help us get to our goal of 32 stores and help us run stores farther away from home.' "

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

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

" 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. "

" 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. "