Subway is reaching new milestones as it makes progress on its global growth strategy to expand its footprint, the company said in a press release.
Over the past three years, Subway said that it has signed more than 20 master franchise agreements, resulting in over 10,000 future restaurant commitments and contributing to over 40% of the brand's new restaurant openings this year.
“Seven of the 20 master franchise agreements have been signed in 2024, marking its entry into Paraguay and Mongolia and significantly expanding its presence across France, the Czech Republic, Luxembourg, Belgium, Switzerland, Liechtenstein, Brazil, El Salvador and Guatemala. In total, these agreements will result in 2,000 future restaurant commitments, with more agreements expected before the year's end,” according to the press release.
Subway's international growth, coupled with its focus on attracting multi-unit operators, “has accelerated new restaurant openings.” The brand said that it is on track to more than double the number of new restaurant openings in 2024 compared to 2019.
"Subway's global growth strategy of partnering with well-resourced, experienced multi-unit operators is proving to be successful," said Mike Kehoe, global chief development officer, Subway.
Subway said it is also focused on strengthening its non-traditional business, which accounts for approximately one-quarter of its global footprint. This includes “signing new and expanded development agreements with brands, like Love's Travel Stops, and strengthening long-term retail relationships with leading companies, such as Walmart and Aramark. Subway is also taking advantage of its flexible format to grow its presence in airports, with partners like Areas in Mexico and Spain, as well as on college and hospital campuses,” the company said.
"Subway's flexible format allows the brand to fit into various retail spaces with low investment requirements, making it an ideal opportunity for a multi-unit franchisee or national partner looking to expand their portfolio," said Kehoe.
Over the summer, the sub shop debuted Footlong Dippers, “hot, cheesy and craveable footlong snacks” in a lavash wrap for $3. The dippers come in three iterations: pepperoni and cheese; chicken and cheese; and double cheese, and are served with one of Subway's 11 signature sauces.