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" In some markets, we don't have a lot of room to expand. We've done studies of store density and essentially found our more dense markets have more than one store per 15,000 people. "
Fred DeLuca
Room
More
Done
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" We have always had many more franchisee candidates than available locations. "
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" 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. "
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Feeling
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" You start a business, and you really don't have much of a budget. "
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" 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. "
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" 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. "
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Eating
" 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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" 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
" 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
" 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
" The franchisees are uniquely in touch at the local level. They see what's going on in their communities in a way we couldn't ever imagine. "
Fred DeLuca
See
Way
Level
" 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
" 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
" 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
" Subway is a real point of pride. We have influenced the way people eat. "
Fred DeLuca
Eat
Way
Subway
" I don't think I ever dreamt of going into business. No one in my family was in business. "
Fred DeLuca
Ever
Family
Business
" 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. "
Fred DeLuca
Car
Amazing
Realize
" 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
" 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
" 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 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
" Profit or perish... There are only two ways to make money: increase sales and decrease costs. "
Fred DeLuca
Sales
Two
Costs
" 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.' "
Fred DeLuca
Home
Goal
Run
" 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
" 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? "
Fred DeLuca
Business
Mistakes
Big
" If you have company-owned stores, you make 100 percent of the profit from each one, but you have less entrepreneurial spirit. "
Fred DeLuca
Spirit
Less
You
" Most of the people we sign on as development agents commit to goals they don't believe are possible. "
Fred DeLuca
Development
Believe
Goals
" 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
" 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
" 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. "
Fred DeLuca
You
People
Need