Fred DeLuca, billionaire cofounder of Subway, dies at 67, Fred DeLuca, who co-founded the Subway sandwich alternation to accounts his academy studies afore it grew to beat McDonald’s Corp. in size, has died. He was 67.
He died on Sept. 14, according to an e-mailed aggregation statement. In 2013, the aggregation said DeLuca was accepting analysis for leukemia. In June, Suzanne Greco, his sister, took on his role of president.
Along with Peter Buck, DeLuca opened the company’s aboriginal restaurant in Bridgeport, Connecticut, in 1965 and broadcast it to cover about 42,000 outlets common over the next 5 decades. As a 17-year-old high-school graduate, he went into the sandwich business with Buck, a ancestors acquaintance and nuclear physicist, afterwards allurement him for a $1,000 loan. Buck came up with the abstraction to advice DeLuca pay his way through college.
DeLuca and his accomplice angry the abreast endemic brand, initially alleged Pete’s Super Submarines, into a authorization in 1974 and took the business civic with its BMT sandwich, alleged afterwards the Brooklyn-Manhattan Transit company, and the “Snak” sub sandwich, afterwards accepted as the “6-inch.” In 2002, Subway overtook McDonald’s in amount of restaurants globally, according to a Wall Street Journal article.
‘Big Limitation’
“Once you get a name cast and traction, it’s about simple to expand” DeLuca said in a Bloomberg account in 2013. “The big limitation if we alpha to abound bound is location.”
DeLuca had a net account of $3.5 billion, baronial him 259th in the U.S., according to Forbes magazine.
Subway, which is endemic by the captivation aggregation Doctor’s Associates Inc., became accepted as a advantageous fast-food addition to McDonald’s and added chains, such as Kentucky Fried Chicken and Burger King. Helped by business “Jared the Subway Guy,” who absent 245 pounds with his own Subway diet for about a year, the Milford, Connecticut-based aggregation became the aboriginal quick- account restaurant to accretion the American Heart Association’s Heart Check Certification for some of its low-calorie, low- sodium commons in 2012, according to Subway’s website.
The aggregation cut its ties to Jared Fogle, the Subway Guy, in 2015 afterwards he was answerable with agreeable in sex acts with amateur and accepting adolescent pornography. He agreed to appeal accusable to adolescent corruption and adolescent pornography, the Associated Press appear Sept. 1.
Running Costs
A Subway franchise, which accuse about $5 for a foot-long sandwich, costs $15,000 in antecedent fees and 8 percent of account sales in royalties to its owners. Franchisees aswell pay 4.5 percent against advertising. The company’s aboriginal all-embracing authorization was accepted in 1984 in Bahrain, according to Subway.
“They were advanced of the ambit with the bloom positioning, they accept a aura in the apperception of the consumer, and they accept a franchising archetypal that’s been actual aggressive,” David Henkes, a carnality admiral at Chicago-based analysis close Technomic Inc., said in a 2010 account in QSR magazine.
Frederick A. DeLuca was built-in in 1947 in Brooklyn, New York, to parents Carmela and Salvatore DeLuca. He grew up in the Bronx and lived in public-housing projects afore the ancestors confused to Schenectady, New York, if he was 10, according to a Subway profile. His ancestors again relocated to Bridgeport, area he abounding Central High School. He becoming a amount in attitude at the University of Bridgeport in 1971.
While alive in the bounded accouterments abundance to save money for college, DeLuca approached Buck for a accommodation at a barbecue.
‘Doing Well’
“I thought, ‘He’s accomplishing well. I’m traveling to ask him if he has any acceptable account for college,’ affectionate of absolutely acquisitive he’s traveling to ability in his abridged and cull out a big assemblage of $100 bills and just accord them to me,” DeLuca said in an account with CNBC about his affair with Buck.
Buck pitched the abstraction of Subway food to DeLuca afterwards abandoning the Italian sandwich shop, alleged Amato’s, that he and his ancestor had visited on Sunday evenings if Buck was a child, according to a 2009 commodity in the Washington Post. DeLuca and Buck again collection to Maine to abstraction Amato’s sandwiches afore aperture their aboriginal abundance weeks later.
“I’ve been accomplishing this for 45 years,” he said in the 2010 account with QSR magazine. “Sometimes I think, ‘If I just accumulate at it for addition 5 years, I could say I’ve done it for 50. If I hit 50, I’ll apparently say, ‘You know, I could do this for 100 years.’”
DeLuca was affiliated to his high-school sweetheart, Liz, and had a son, John, according to a 1993 commodity in the Los Angeles Times. They survive him. They had a abode in Orange, Connecticut, and one in Fort Lauderdale, Florida, the Times reported.
He died on Sept. 14, according to an e-mailed aggregation statement. In 2013, the aggregation said DeLuca was accepting analysis for leukemia. In June, Suzanne Greco, his sister, took on his role of president.
DeLuca and his accomplice angry the abreast endemic brand, initially alleged Pete’s Super Submarines, into a authorization in 1974 and took the business civic with its BMT sandwich, alleged afterwards the Brooklyn-Manhattan Transit company, and the “Snak” sub sandwich, afterwards accepted as the “6-inch.” In 2002, Subway overtook McDonald’s in amount of restaurants globally, according to a Wall Street Journal article.
‘Big Limitation’
“Once you get a name cast and traction, it’s about simple to expand” DeLuca said in a Bloomberg account in 2013. “The big limitation if we alpha to abound bound is location.”
DeLuca had a net account of $3.5 billion, baronial him 259th in the U.S., according to Forbes magazine.
Subway, which is endemic by the captivation aggregation Doctor’s Associates Inc., became accepted as a advantageous fast-food addition to McDonald’s and added chains, such as Kentucky Fried Chicken and Burger King. Helped by business “Jared the Subway Guy,” who absent 245 pounds with his own Subway diet for about a year, the Milford, Connecticut-based aggregation became the aboriginal quick- account restaurant to accretion the American Heart Association’s Heart Check Certification for some of its low-calorie, low- sodium commons in 2012, according to Subway’s website.
The aggregation cut its ties to Jared Fogle, the Subway Guy, in 2015 afterwards he was answerable with agreeable in sex acts with amateur and accepting adolescent pornography. He agreed to appeal accusable to adolescent corruption and adolescent pornography, the Associated Press appear Sept. 1.
Running Costs
A Subway franchise, which accuse about $5 for a foot-long sandwich, costs $15,000 in antecedent fees and 8 percent of account sales in royalties to its owners. Franchisees aswell pay 4.5 percent against advertising. The company’s aboriginal all-embracing authorization was accepted in 1984 in Bahrain, according to Subway.
“They were advanced of the ambit with the bloom positioning, they accept a aura in the apperception of the consumer, and they accept a franchising archetypal that’s been actual aggressive,” David Henkes, a carnality admiral at Chicago-based analysis close Technomic Inc., said in a 2010 account in QSR magazine.
Frederick A. DeLuca was built-in in 1947 in Brooklyn, New York, to parents Carmela and Salvatore DeLuca. He grew up in the Bronx and lived in public-housing projects afore the ancestors confused to Schenectady, New York, if he was 10, according to a Subway profile. His ancestors again relocated to Bridgeport, area he abounding Central High School. He becoming a amount in attitude at the University of Bridgeport in 1971.
While alive in the bounded accouterments abundance to save money for college, DeLuca approached Buck for a accommodation at a barbecue.
‘Doing Well’
“I thought, ‘He’s accomplishing well. I’m traveling to ask him if he has any acceptable account for college,’ affectionate of absolutely acquisitive he’s traveling to ability in his abridged and cull out a big assemblage of $100 bills and just accord them to me,” DeLuca said in an account with CNBC about his affair with Buck.
Buck pitched the abstraction of Subway food to DeLuca afterwards abandoning the Italian sandwich shop, alleged Amato’s, that he and his ancestor had visited on Sunday evenings if Buck was a child, according to a 2009 commodity in the Washington Post. DeLuca and Buck again collection to Maine to abstraction Amato’s sandwiches afore aperture their aboriginal abundance weeks later.
“I’ve been accomplishing this for 45 years,” he said in the 2010 account with QSR magazine. “Sometimes I think, ‘If I just accumulate at it for addition 5 years, I could say I’ve done it for 50. If I hit 50, I’ll apparently say, ‘You know, I could do this for 100 years.’”
DeLuca was affiliated to his high-school sweetheart, Liz, and had a son, John, according to a 1993 commodity in the Los Angeles Times. They survive him. They had a abode in Orange, Connecticut, and one in Fort Lauderdale, Florida, the Times reported.
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