Subway
Doctor's Associates
Company Information
325 Sub Wy. Milford, CT 06461
DAI is a Florida corporation, incorporated on June 3, 1991 and does business as “SUBWAY”. DAI was originally formed as a Connecticut corporation, incorporated on October 17, 1967 as Doctor’s Associates, Inc and was moved from Connecticut to Florida on July I, 1991 by a Type F reorganization under Section 368 of the Internal Revenue Code. The address of DAI is 700 S. Royal Poinciana Blvd, STE 500, Miami Springs, FL 33166. DAI’s agents for service of process are disclosed in Exhibit!. As of December 31, 2012, there were 40,197 franchises sold, of which 26,313 are open and 1,203 in development. As of December 31, 20 12, there were 665 satellite franchises sold, of which 109 are open and 8 are in development. DAI offered plush toy business franchises from 1982 to 1983 but did not sell any. DAI has never offered franchises in any other line of business.
We offer and sell franchises for Subway® restaurants for locations in the United States and its territories. Though our current policy is to establish all restaurants as franchises, sometimes we may own or operate restaurants previously owned by franchisees until we find a new franchisee. You must purchase through us or lease from us substantially all major items of equipment for your restaurant. We have limited real estate holdings, which include the location of one Subway® restaurant that we lease to a franchisee. We are not engaged in any other business.
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Franchise Rating
Franchimp Summary Rating
4/10
Earning Transparency
1/10
Franchise Attrition
4/10
Investment Accessibility
8/10
Franchise System Development
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Distribution of Subway Franchisee
Employee Contact Database
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Summary of Investment Costs
Upfront Franchise Fees
Minimum: $15,000 Maximum: $15,000
Upfront franchise fees are the one-time payments required to secure rights to operate under an established brand, typically ranging from $20,000 to $100,000+ depending on brand value.
These fees grant access to proprietary business systems, training programs, intellectual property rights, and often territorial exclusivity—essentially purchasing the blueprint for a proven business model.
While separate from ongoing royalties, investors should evaluate these fees against expected returns, comparing fee-to-earnings ratios across opportunities and assessing how effectively franchisors reinvest these funds into system improvements.
Total Investment Costs
Minimum: $238,623 Maximum: $536,745
Ongoing Fees
Ongoing franchise fees, typically structured as royalties ranging from 4-8% of gross sales, represent the continuous payments franchisees make to maintain brand affiliation and support services.
These recurring fees fund the franchisor's operational assistance, marketing initiatives, technology updates, and continued brand development—creating a partnership where the franchisor's revenue grows alongside the franchisee's success. In addition to royalties, franchisees often contribute to national advertising funds (usually 1-3% of sales) and may incur technology fees, supply chain markups, or renewal fees depending on the franchise agreement.
Investors should carefully analyze these ongoing costs within their financial projections, as they directly impact profit margins and cash flow throughout the entire franchise relationship.
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