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" To a large extent, we're working hard to fulfill the consumer demand for Subway sandwiches. "
Fred DeLuca
Working Hard
Hard
Subway
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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. "
Fred DeLuca
Spirit
Less
You
" 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. "
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Back
Employees
Success
" 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
" 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 don't have much of a bucket list. I don't have a lot of needs and desires. "
Fred DeLuca
Desires
Much
Needs
" 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
" 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
" 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
" In the U.S. and Canada, we have one store for every 12,000 people. "
Fred DeLuca
Canada
People
Store
" 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. "
Fred DeLuca
You
Journey
Goal
" 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
" 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
" 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
" 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. "
Fred DeLuca
Problem
Good
Place
" 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
" 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
" 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
" 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
" 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
" 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
" We have always had many more franchisee candidates than available locations. "
Fred DeLuca
Always
Had
Many
" 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
" 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
" 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
" It's tough for people to get into business, especially a small business. "
Fred DeLuca
Get
Business
Tough
" 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
" 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
" 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