Subway
The American sandwich chain that was once the most numerous on earth, still roughly 37,000 stores after a decade of closures.
11 figures on Subway, drawn from 5 Modern MBA case studies.
The figures
US dollars6
| Against its own chart | |||
|---|---|---|---|
| Average gross revenue per store by brand, 2000 | $944,000 | 3rd of 8 · top $1,600,000 | Why Crumbl won't last |
| Average revenue per store | $420,000 | 5th of 6 · top $1,200,000 | Why Crumbl won't last |
| Average net profit take-home per store after rent, supplies and labor | $65,000 | 5th of 6 · top $205,000 | Why Crumbl won't last |
| Non-refundable upfront payment required to operate | $15,000 | 8th of 8 · top $50,000 | Why Crumbl won't last |
| Price of a single cookie, 2024 | $1.29 | 6th of 8 · top $5.77 | Why Crumbl won't last |
| Upfront cost to open, against other retail concepts | −$375,000 | 4th of 5 · worst −$384,000 | How much a haunted house actually makes |
Percentages2
| Against its own chart | |||
|---|---|---|---|
| Percentage of sales paid to the franchisor as royalties and marketing fees | 12.5% | 1st of 8 · top 12.5% | Why Crumbl won't last |
| Royalty on gross sales charged to franchisees | 8% | 2nd of 8 · top 15% | How much a Texas BBQ joint actually makes |
Counts2
| Against its own chart | |||
|---|---|---|---|
| US locations at each end of the window · 2017 | 25,908 | 1st of 5 · top 25,908 | Why the Popeyes chicken sandwich was so good |
| US locations at each end of the window · 2022 | 20,567 | 1st of 5 · top 20,567 | Why the Popeyes chicken sandwich was so good |
Measures1
| Against its own chart | |||
|---|---|---|---|
| Retail footprint in square feet | 1,200 | 4th of 7 · top 1,700 | Why omakase is suddenly everywhere |
Case studies covering Subway
Case study — Media & entertainmentHow much a haunted house actually makesA haunted house has six weekends a year to make its money back. The good ones out-earn Disney Parks on margin.12 min read
Case study — Food & beverageWhy omakase is suddenly everywhereNo servers, no walk-ins, no storefront, revenue booked before the door opens. Omakase deleted every cost that kills a restaurant.11 min read
Case study — Food & beverageHow much a Texas BBQ joint actually makesOne in three fail, brisket yields 40%, and the biggest variable in whether you survive is one magazine editor's palate.16 min read
Case study — Food & beverageWhy the Popeyes chicken sandwich was so goodThe sandwich came from a decade of R&D discipline its new owners inherited and did not build. That is the problem.14 min read
Case study — Food & beverageWhy Crumbl won't lastMrs. Fields had its decade too. Crumbl store margins fell from 30% to 10% while corporate went from $4M to $152M.15 min read