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Everybody knows Subway is a successful franchise chain. But did you know last year it cracked 33,000 units and should shortly hit 34,000? The fresh-sandwich chain passed McDonald’s to take the top fast-food franchise crown — the Golden Arches have just 32,000 restaurants. This may seem like a big-business story at first, but Subway and McDonald’s have made their brand one locally owned franchisee at a time. The chains are essentially huge conglomerations of mom-and-pop restaurants.
The tale of how Subway overtook the longstanding leader in their sector has many lessons for small business owners everywhere. Here are some of the factors that let Subway move ahead:
1. Tell a great story. When Subway found the original Biggest Loser, then-student Jared, the company had the sense to jump on the story and keep it growing. Subway could have just had a motto along the lines of “our food is lower fat and healthier than our competitors,” but it wouldn’t have been nearly as compelling as ”Hey, look at me — I ate exclusively at Subway and lost tons of weight!”
This could have been a one-season marketing arc, but instead Subway kept it growing and fed Jared fans a steady stream of new information for many years. The corporate website still has a whole tab about Jared that goes back to his very first commercial. Read the rest of this entry »