Profit or perish... There are only two ways to make money: increase sales and decrease costs. Fred DeLuca More Quotes by Fred DeLuca More Quotes From Fred DeLuca I made the first sandwich before entering college. Fred DeLuca sandwich first college made To a large extent, we're working hard to fulfill the consumer demand for Subway sandwiches. Fred DeLuca working-hard consumer hard subway Subway is a real point of pride. We have influenced the way people eat. Fred DeLuca pride real people way You could have everything right but be in the wrong place. You think your business is no good, but really, the problem is your place is no good. Fred DeLuca good think you business Six months after we started, in 1964, there was a day when we sold only seven sandwiches. If we'd taken all the money from the register, we couldn't have paid an employee, much less the food or the rent or all that. It could have been a turning point. We could have given up. Fred DeLuca only day money food We give great value for our franchisees: They can build a store for well under $200,000. And we have extremely simple operating systems. The preparation is mostly done in front of the customer. That simplicity is really what attracts our Subway franchise. You see it, and you can do it. Fred DeLuca great you simplicity simple Higher unemployment generally bodes well for franchising. People are looking for a new opportunity, and people who have jobs are a little less confident they'll always have a job. Fred DeLuca looking job opportunity people I don't have any interest in cashing out or leaving the business or doing something else. I just love Subway, and I want to keep focusing on the company for the benefit of all our franchise owners. So I'm kind of like married to the job. Fred DeLuca doing job business love In a typical situation, it's going to take pretty close to a year to get your location in, get your permits, and then get open. Fred DeLuca your pretty year situation There are so many ingredients that are approved for use. You can't be an expert on all of them. Fred DeLuca expert you ingredients use When I started in the business, the minimum wage was $1.25. I've seen an enormous number of wage increases. Basically, it applies evenly to everyone in the business. Fred DeLuca everyone seen minimum-wage business The people who come to work deserve to be paid properly, and there's no excuse. I could understand someone making a small error, but sometimes people make systematic errors, and that's not right. Fred DeLuca understand work sometimes people It's tough for people to get into business, especially a small business. Fred DeLuca small tough business people The payroll tax is affecting sales. It's causing sales declines. Fred DeLuca affecting sales tax payroll If I were in charge of the government, I would index the minimum wage to inflation, so that way, everybody knows what they can count on. Fred DeLuca minimum-wage inflation government way Everybody who goes through the business will make mistakes. The big question is how big will the mistakes be? How fast will they learn from the mistakes, and how quickly will they get the business in the correct direction? Fred DeLuca direction mistakes will business There's huge access to information. If you need to learn something, you can go on the Internet and learn very quickly. You can reach across miles and miles to find companies that can assist you. Fred DeLuca need you internet information I watch 'Shark Tank,' of course. It's very entertaining. I think it's actually good to help people think about the business they might start, and sometimes you get encouraged by looking at someone going into business and saying, 'Hey, I could do that.' Fred DeLuca good you business people If someone wants to eat healthy, they can do that and get the sandwich exactly right. I'm so pleased we're able to influence so many people and their eating habits. Fred DeLuca someone influence eating people I don't have much of a bucket list. I don't have a lot of needs and desires. Fred DeLuca bucket desires much needs
