If you’re a fan of Subway, we’re really sorry to be the bearer of bad news but it looks like the home of the footlong sandwich may be on its last crumbs, as it has closed more than 90 stores over the last four years.
The number of Subway stores has dropped by 9.2 per cent, as reported by The Brisbane Times. Revenue is also down. However, there are still 1,353 stores across Australia, so we may still have a few years to munch on the Subway signature sandwiches.
At present, there are no plans to open new stores. But a spokesperson did say that they do ‘anticipate growth’ this financial year but only areas that are ‘commercially viable’ would be considered.
The chain is struggling to find a place for itself within Millenial foodie trends. In the past, Subway may have been regarded as a healthier version of fast food. However, these days there are so many healthy options out there and consumers are opting for lower-carb foods.
‘Over the past 10 years, the tastes and the palates of our Australian guests have changed quite significantly, and what they’re looking for, for their lunch or for their dinner has changed as well,’ a Subway’s spokesperson said.
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This trend has taken its toll on long-running franchisees. One owner spoke to the Brisbane Times saying:
‘I cannot afford it. I am in too much debt at the moment I have taken out a lot of personal loans to survive. If I take another loan from the bank I cannot pay as it is too high. My life is hell now. I am stuck.’
Trying To Survive
Subway has made numerous attempts over the years to ‘get with the times’, including introducing wraps and rye bread, meat-free options and a loyalty card.
Subway does seem to be a relic of the past and with so many amazing options out there, Subway is getting overlooked. But it may still get a modern-era re-boot, but we’ll just have to wait and see what that looks like.
Are you a fan of Subway? Tell us in the comments below.
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