Company officials did not provide data on the investment budget, but according to market information, the investment in a restaurant ranges between EUR100,000 and EUR500,000. The company said in a press release that the first Romanian restaurant was set to open by the end of this year. In addition, the company wants to sell around 20 franchises by the end of 2011.
“Romania is a very interesting country as a target for our franchise,” said Martin Princ, Subway’s area development manager for Central and Eastern Europe.
“Over the last few years, Romania has become attractive through its growth. This increase and the large number of people interested in our business concept have exceeded expectations. We believe the most intensive growth will occur in Bucharest, the EU’s sixth largest city,” he added.
Romanian development will be managed by Subway and two development agents (similarly to how Subway has developed its business outside the US). “The company will not set up master franchisees, but will sell licenses to individuals, similarly to most companies around the world.”