Fred DeLuca Quotes
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I made the first sandwich before entering college.
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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.
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If you treat people nicely, and you allow them to fulfill a role that is satisfying for them, they'll accomplish a lot, and they'll enjoy their work.
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I went to school because I was supposed to. I did pre-med because my mum thought it was a good idea.
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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.
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How you handle the obstacles has a big impact on how you do. If you give up, then you obviously don't get there, but if you're persistent, and you keep thinking of new ways to approach the business, you're more likely to reach your goal.
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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.
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Profit or perish... There are only two ways to make money: increase sales and decrease costs.
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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?
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When I started in the business, the minimum wage was $1.25. I've seen an enormous number of wage increases. Basically, it applies evenly to everyone in the business.
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We have salads, some other beverages. But in reality, it's still fundamentally the same business. The most likely thing the next person will buy is a sandwich and a soft drink. After a half-century of glacial change, we're still pretty much the same business.
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You have to be able to communicate the vision to the people in your organization so that they know where and how they should direct themselves on a day-to-day basis.
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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.
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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.
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It's tough for people to get into business, especially a small business.
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The payroll tax is affecting sales. It's causing sales declines.
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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.
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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.'
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I don't think I ever dreamt of going into business. No one in my family was in business.
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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.
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Back in the early days of international, everybody wanted to customize the menu for every place.
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If I'm spending time on something, I may as well do good as opposed to average.
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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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We have always had many more franchisee candidates than available locations.