Fred Deluca may not be known to the world, but his restaurant is. Today many people eat at the famous submarine sandwich shop called SUBWAY, now the second largest restaurant chain in the world. It offers a healthy alternative to fast-food. Today, there are more than 15,000 restaurants in 76 different countries. Fred Deluca made the very first SUBWAYÒ Restaurant sandwich in 1965, and, today, he still serves as president. Fred Deluca had just graduated from high school and was looking to get into college. He worked at a job in a hardware store for the minimal hourly wage of $1.25. He wanted to go to college to study to become a medical doctor. Fred Deluca was friends with the Dr. Peter Buck, a crucial part of his success. It was Dr. Buck who suggested the idea. and eventually became a co-partner of SUBWAYÒ. Also, Dr. Buck lent Fred a thousand dollars to start the business.
When he first started as an entrepreneur, Fred Deluca was a hard-working, competent and dependable young man at the age of 17. Taking subtle risks and winning, he learned quickly to make his business successful. Struggling just to have food on the table every night, it was difficult to make a lot of money. Fred struggled with his first two restaurants in the first couple of years, but he endured and starting to make money on his third restaurant that he opened. Originally called Pete’s Super Submarines, the name was changed to Subway in order to increase visibility. When he made it past the industry’s standard death point, he set his sights higher; he no longer had his dream of becoming a medical doctor. Instead, he set a goal for himself to open 5,000 SUBWAYÒ Restaurants by 1994. Ahead of schedule, Fred Deluca started opening franchises at the rapid pace of almost 100 stores a month. In 1993, Subway was named Entrepreneur magazine’s number-one rated franchise for the second time. He even out-ranked McDonalds, Dunkin’ Donuts, and 7-Eleven. In 1997, he established MILE (the Micro Investment Lending Enterprise), a nonprofit organization designed to provide micro loans for new entrepreneurs.
Subway is an American restaurant franchise that primarily sells submarine sandwiches (subs) and salads. It is owned and operated by Doctor’s Associates, Inc. (DAI). Subway is one of the fastest growing franchises in the world with 37,881 restaurants in 98 countries and territories as of November 7, 2012. The SUBWAY® franchise system and brand is a globally acknowledged leader of: Wide choice ...
I believe that Fred was successful as an entrepreneur rather than a manager because Fred was an ambitious person who wanted to do something with his life by going to college. It turned out that he started a restaurant. Fred also wasn’t afraid to take chances. Even after his first two restaurants did not do very well, he still opened a third. Overall, Fred demonstrates all the qualities of a good entrepreneur.