I choose to do a privately held franchise as all Subway(r) outlets are franchised and there are no company-owned units. I feel my business will face less risk if I open a franchise. I can benefit from a ‘Subway’ experience and enjoy it. I feel my enthusiasm will reflect upon my customers. Another reason why I have chosen to open a franchise into Subway is that in the US it has been voted franchiser of the year by Entrepreneur magazine in all categories, in the past 11 years out of 15 years.
Despite that it is the fastest growing franchise in the world (see appendix) with an estimated 25,000 stores worldwide in 2005, bearing in mind that in year 2000 there was only 14,662 stores. Now Subway has beaten the number McDonalds outlets in the US, which is astonishing and the main headlines. With people like Jared who has made Subway even more successful by eating a diet only based on Subway, he has gained his desired weight and distributed what his diet consisted to the public, making Subway even more profitable.
From this enormous approval, hundreds of children have decided to improve their quality of life by adopting healthy habits. I have chosen to become a sole trader, because I think it is the best option in my position. I feel I haven’t enough capital and experience to become a private limited company, and this option is not really open to me if I were go into a franchise. I like to run the business to my satisfaction, and this reflects my decision to open as a sole trader. I feel I can personalize the business rather than have control on how I sell my products and what products I sell.
It is essential to know the gender of the person to recognize which one visits the restaurant the most. It will allow me to establish the target market or audience. I can find out trends such as whether more males or females enjoy eating sandwiches. From this I can concentrate more on that particular target market determined. Age would be essential to see whether children would purchase a kids meal that is available at Subway. If I know this, I can effectively cater my advertising to them. From this it will give me a clearer picture of the answer instead of a biased or narrow one.
Asking this question will allow me to find out what the target market is. From the established franchise Subway, it mentions how the target market is adults between the ages of 18 and 39- specifically students and families with young children. I need to know which borough the potential customer is living to find out if the Subway franchise would best be located in a borough where people know what a Subway Restaurant is. This will increase sales to those potential customers who are loyal to this well-known brand.
This will enable me to find out how far they live from chosen location and if their answer will have valid information. There is no point locating my Subway in an area where most cannot reach or locating it where customers have never heard of a Subway brand. Obviously, in this question I will be able to find out if the customer actually knows what a Subway is and whether they really need to carry out the other questions relevant to the franchise. If they have ever heard of this franchise then they can refer to question 12 and to answer questions only on a basis of sandwiches and not to the franchise itself.
This will ask whether they have visited a subway, as I need to know whether they are actually familiar with the franchises prices, meals available and food. This will give me an answer that is genuine and not made of assumptions and predictions. If the customer has visited a Subway then this question can be linked to answers requiring their knowledge of a Subway for example their favourite fillings that follows on from this question. I would need to know how often the customer eats in sandwich bars to meet demand.
This will also help me decide how many times I can change special offers available in store depending on how much they visit the store. This along with the question about your age will help me to find out what type of person is able to travel to sandwich bars or my franchise on a daily basis. These people will be my main focus, who I will be promoting to, as these are the people who will be going to my shop a lot. This will allow me to allocate a price for a typical average meal in Subway. I would also be able to see if consumers are willing to purchase high-priced goods.
Or if they choose the option where they want to pay a low price. I will judge my prices based on this. Question 9 – Which fillings do you prefer the most in your sub sandwich? Allow me to determine what is the most popular filling to the customer’s choice and for me to determine which filling will be most in demand. Therefore I can stock up on the most popular fillings ready for the huge demand. I can make sure there is enough supply, during the first few months. From my answers I can then use the fillings as a focal point when advertising to consumer. It will also help me find out which filling I will need to buy the most of.