American multinational fast food chain Subway is looking to further expand its presence in Asia Pacific, with a plan to double its store count in the region within five years.
Subway has reported “positive growth” in the number of restaurants in Asia Pacific in the past two years. It currently has more than 3300 restaurants across 15 markets.
Subway entered Indonesia last year in partnership with Map Boga Adiperkasa and has recently opened Southeast Asia’s first Subway drive-thru location in the country. The brand earlier this year said it intended to open 70 to 80 new restaurants a year in Thailand and 500 stores across Peninsular Malaysia during the next 10 years under a multi-year franchise agreement with its local franchisees.
The company said it will prioritise markets in Indochina, including Vietnam, where it failed in its first attempt to enter the market about a decade ago. Debuting in the Southeast Asian country in 2010 with the ambition to open 50 stores in the first five years, the chain managed only six stores and has since closed all but one, which is located in Da Nang.
The company said one of its top priorities is strategically expanding and strengthening the brand’s footprint worldwide by pursuing master franchise and development agreements with operators that have specific expertise in a region.
Subway has signed nine master franchise and country developer agreements in the past 15 months across Asia-Pacific, EMEA and Latin America and the Caribbean region, which is estimated to account for more than 5300 new restaurants over the next decade.
The chain was recently named the winner of the Franchisor of the Year Award at the 2022 Franchising and Licensing Association (FLA) Singapore Award.