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Home > Franchises > Mr. Sub
Mr. Sub
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
Mr. Sub is one of the restaurant franchises which began franchising in 1971. The first Mr. Sub restaurant opened in Toronto, Ontario in March of 1968. Right from the start, their concept was simple that is sell quality subs, make them fresh, and serve them fast. And above all, give customers value for their money. Their menu has grown to include wraps, fresh baked bread, salads, soups and more. The franchisor is a privately-held company with 42 employees and 7 employees in the franchise department.
Today, Mr. Sub owns over 475 restaurants from coast to coast, and it is still owned by the founding partners. Things have changed for Mr. Sub over the years, but every franchisee remains dedicated to the original concept of quality and freshness. This unique quality made Mr. Sub to rule the hearts of people for almost four decades.
Mr. Sub’s costs and fees include total investments of 200000 dollars, with express or kiosk option available, franchise fee of 15000 dollars, ongoing royalty fee of 6 percent, and 10 years term of agreement which is renewable with renewable fee of 50 percent of initial fee. According to the Entrepreneur magazine, it ranked 132nd in 2006.
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