Food-service franchise system Freshii’s CEO, Matthew Corin, wrote an open letter to Subway suggesting the two brands join forces and convert some Subway shops to Freshii locations.
Corin wrote the letter to highlight the similarities between the two brands and how they could benefit each other in a partnership. Subway currently has 44,000 restaurants worldwide, but industry analysts say the company should only operate 30,000 because it has overdeveloped its retail base. Corin says Freshii will open thousands of locations over time as well, but a partnership would allow them to “get there faster together.”
In the letter, Corin says his plan would work because Freshii has successfully welcomed other franchise partners from iconic brands by either converting their stores or bringing the Freshii brand into their portfolio. He estimates the average conversion cost of turning a Subway location into a Freshii restaurants is $75,000.
To read the full letter, click here.
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