Subway

BECOME PART OF THE SUBWAY® CHAIN'S SUCCESS STORY

With 91% of franchises reporting profitability, according to the 2008 bfa/NatWest survey, franchises are more likely to survive challenging economic times than a completely new business, and there are franchise opportunities available with the SUBWAY® chain across the UK and Ireland.

"The SUBWAY® chain's franchise system has widespread appeal. The low investment, simple operation and unparalleled support make it an attractive proposition for entrepreneurs across the world," says Neil Black, Development Agent for the SUBWAY® chain.

The SUBWAY® chain is perfect for those that have had experience running a successful business, or have benefited from a flourishing career. SUBWAY® franchisees benefit from operating in a tried and tested system with great training and a solid support structure with aspects such as site selection, leasing, purchasing, marketing and more. This support has proved to be very successful and the fact that over 70% of all new SUBWAY® franchises sold worldwide are sold to existing owners, speaks volumes.

Do you have what it takes to become a SUBWAY® franchisee? Below are some top tips for franchisees from Neil Black, who is the franchisee of six stores and Development Agent for 98 stores.

Is a franchise for you? - Franchising is all about working to a tried and tested system and it is vital that you can work within the parameters of the franchise's existing processes and procedures. That's not to say you don't need entrepreneurial spirit to succeed, however if you see yourself as a pioneer you may be better suited to running your own business.

Do you have what it takes? - We rigorously test potential franchisees to assess a candidate's suitability.

The key attributes of a successful franchisee are well-known:
• Passionate about franchise product/service - knowing your franchise, the market and its competitors
• Good motivator
• Possess business acumen and awareness
• Organised
• Effective time-management skills
• Articulate
• People-person
• Good listener
• Effective communicator
• Professional in outlook and appearance
• Open to advice and guidance

Research the franchise - The first step is always to research the franchise and check out the actual and predicted growth data. Make it a priority to read the franchise trade press and attend any local franchisee exhibitions and seminars in your area. The financial fit is an obvious consideration at this stage - check out the numbers - is the capital investment a good fit for your financial situation and will there be enough profit for you to live on - especially in the early stages? Many of the high street banks will have franchising services and will help advise you and provide financial support.

Motivation is key - An understanding of the dynamics that motivate individuals is a massive bonus in the franchising business. Attracting good, reliable staff and retaining them is a key issue within the industry and it is essential that you can offer potential employees real motivating factors to keep them challenged within the organisation.

Know your business - We always recommend that our new franchisees ‘work the line' - in our business this means working as a Sandwich Artist. Mastering all the aspects of your business from behind the counter to the front of the counter is invaluable experience. A franchisee must be willing to get their hands dirty, so to speak - it will enable you to empathise with your staff and gives you the overall knowledge to direct the business effectively.

Once your systems are in place, this is the time to look at any potential areas of improvement, working with the existing system to make any adjustments necessary. Remember, there is no need to reinvent the wheel - your business has become successful for a reason. Work with the proven system and use this tried and tested system to grow your business. We actively encourage our successful franchisees to build on their achievements and move on to become multi-unit owners within the company.

Think a SUBWAY® franchise could be for you? Visit the SUBWAY® chain's stand at the National Franchise Exhibition, NEC, Birmingham on 2nd and 3rd October 2009.