In its annual review of the top 100 global franchises Subway was named at the top of Franchise Direct's rankings.
The rankings backed by the International Franchise Association are measured by size of the business infrastructure versus number of individual units, as well as stability, growth and market expansion. Subway was given top marks for possessing a "clear business plan, a commitment to training and support, an ability to innovate and sensitivity to environmental issues" according to a press release from the Franchise Ranking group.
The company intends to continue its hiring methods and will expand its international footprint over the next few years. In India alone Subway intends to have at least 1,000 stores open and operating no later than 2015. This comes despite the fact that John Reynolds, president of the IFA's educational foundation, said at the Small Business Lending summit that franchisees may be demanding more loans than banks will be able to provide. The IFA projects new lending for franchises will total $9.5 billion for the year, but the demand may be closer to $11.7 billion.
Subway's franchisees are confident in the success of the business model, though. If you're a franchisee or looking for franchise financing to get involved with a flexible, competitive company like Subway, an online marketplace like Boefly can get you started with just a few easy steps.
"People said it was crazy to start a new business during this economy," Blake Newton, a multi-unit owner in Utah, who has worked with the company all his life. "But Subway was an affordable, easy to operate franchise. It made Subway the perfect opportunity for me to own and operate my own small business."