This article published April 2017. For latest news THIS MONTH'S ISSUE
Matthew Corrin, CEO of fast-casual sandwich chain Freshii, penned an open letter to Subway, suggesting that the two brands work together to convert some of Subway’s 44,000 units into Freshii restaurants.
Corrin, who will be presenting at the upcoming NACS Insight Convenience Summit–Europe, writes in his letter that restaurant industry analysts agree that Subway “has overdeveloped its retail base, with too many restaurants chasing fewer customers. Industry analysts have said they believe Subway would be better off with 30,000 restaurants—still enough to dominate your niche, but with larger territories that would enable all your franchise partners to grow and prosper.”
His idea is to explore a partnership “in which we together convert select Subway stores to Freshii restaurants in a quick, low-cost way. Let’s continue to change the way the world eats, together.”
Corrin writes that Freshii is the fastest-growing restaurant brand in the world, opening its first 200 locations faster than McDonald’s, Dominos and Subway.
“Our 15 consecutive quarters of strong same store sales growth are a testament to this and have helped our franchise partners grow their sales and profits. In fact, almost 30% of our new restaurant openings each year come from our current partners deploying their profits back into building more Freshii locations in their respective markets. We operate in 15 countries today and [we’re] growing.”
Corrin made a similar offer to McDonald's in an open letter to CEO Steve Easterbrook, challenging the QSR to co-brand a Freshii outlet in one of its stores for a year. “My studies indicate that this move will pay for itself, increasing same store sales by 30% and boosting annual profits by $250,000 per unit,” he wrote.
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