Fast food franchise Subway is planning a massive expansion drive that will see the company open 1300 more restaurants over the next 6 years.
The growth plan will see the franchise opening about 4 shops every week and is predicted to have created 13000 new jobs in the UK and Ireland by the year 2020.
Mike Charest, Subway’s assistant regional director for Europe said that: “The UK and Irish markets have been fantastic success stories for the Subway brand and we see opportunities for further growth as more and more consumers demand great tasting food at a value price-point.
The introduction of a varied breakfast menu and longer opening hours has been instrumental in increasing store footfall.”
The growth drive will see the sandwich giant expand into hospitals, convenience stores, airports, universities, petrol stations, and service stations.
Subway, which opened it`s first outlets in Asda last year is also planning to expand its presence in the supermarket.
The franchise opened 150 new restaurants last year and recorded a 3.5% year on year sales increase, in the UK and Ireland, in the same period.
The world`s largest fast food chain currently operates over 41,000 shops in 105 countries.
The news about additional jobs that will be created by the expansion will provide a further boost to the recovering UK economy. The UK economic performance continues to improve with today`s unemployment figures showing a 7.1% drop, the biggest ever fall in overall unemployment.
However, it remains to be seen how Subway`s expansion drive will be impacted by political pressure being exerted to increase the minimum wage.
Most of the workers employed by the franchise are on a minimum wage although those living in London earn a bit more. Charest, however, insisted that the pressure to raise the minimum wage would not result in food price increases.
He said: “I am sure it will add pressure but will it affect prices? I don’t think so because our goal is to get more people coming into our stores”.