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Originally Posted by maxtower
I would be interested in hearing more about this. How did you increase sales? What other improvements did you make? How did you find the Subways for sale? How much did they cost (in terms of profits)?
Increased sales by treating my employees better, and firing bad ones. The previous owner was very absentee and did nothing. Fixed operations to be more focused on customer service. Did minor promotions involving giving away free subs. Free drives in customers much better than dollar off coupons. Let them eat a free sandwich and if they come back once a week, you end up making an extra 400 dollars in sales for that sandwich that cost u a buck.
A lot of repairs were needed which were let slide by the previous ownership. So I fixed them which helped to increase sales.
Subway.com has a list of subway's for sale. Some areas have been built up long ago and the franchisee's are ready to move on. If every subway is new near you then the only ones for sale are the ones with bad locations. Most places in the USA are built out, and are not building new Subways.
The previous owner was a motivated seller ( divorce ). He charged what the busy store did in profits * 4. The slow store he threw in for free basically, as it made no money.
I do not necessarily recommend Subway due to the corporate structure. It is still privately owned by 1 guy, who does as he pleases more or less. He is a smart guy. But he contracted out his inspection and development to local area managers. The local guys oversee 100-300 stores, and are next to unaccountable. So if you have a good local guy it works great, but some suck. I alas got a sucky one though I did not know it at the time.