It had more than 44,000 franchises around the world, ranking first among food companies.
Fred DeLuca was an American who with 1000 dollars borrowed by a friend founded a fast food company without knowing that it would become the largest chain in the world. He did it at the age of 17 with the aim of earning money to pay for his studies, it is nothing less than Subways.
It was in 1965 and the original name was “Pete’s Subway” in honor of his friend who lent him the thousand dollars, Peter Bruck, who also became his founding partner. His idea was to provide customers with a meal that was healthier, so he created these fresh sandwiches made in front of shoppers.
Fred DeLuca
What is the story of Fred Deluca
Frederick James Matthew DeLuca was born on October 3, 1947 in Brooklyn, United States. Although he did not grow up in a poor family, they were not millionaires by any means. In 1965, at the age of 17, he considered that he needed income to pay for his studies, so he had the idea of opening a fast food restaurant.
Thanks to his friend Peter Bruck, who lent him the US$1000, opened the first store “Pete’s Super Submanirnes”who would become its founding partner. Although his store was not a great success at first, he kept trying, emphasizing that his food was healthy and opened 30 stores.
In 1974 he decided to franchise model to accelerate the level of openings. After achieving success in his businesses, he finally managed to fulfill his dream of studying and graduating from the University of Bridgeport. In 2012according to Forbes, the company generated profits of 18,000 million dollars in salesand by 2015 it dethroned McDonald’s as the fast food company with the most franchises in the world, having 44,268 branches around the world.
Subway and the formula for success
According to him, the formula for success was based on 2 pillars. The first was to offer a healthier option the most famous franchise in the world, and secondly adopt the franchise model so that more branches could be easily opened around the world.
The advertisements announced that fresh ingredients could be consumed in custom-made sandwiches, which made it clear that this was a healthier option than the fried chicken and hamburgers of the well-known chains that positioned themselves as world leaders. By 2015, it opened an average of 1500 branches per year.
DeLuca’s estate at the time of his death
In 2013, Fred DeLuca was diagnosed with Leukemia, and after 2 years of fighting, he finally passed away in September 2015. At the time of his death, he had a fortune of 3.5 billion dollarswhich placed him in position 259 among the richest people in the world, according to Forbes magazine.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
