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Quiznos
Quiznos franchises operate quick-service restaurants serving toasted submarine sandwiches, salads, soups, soft drinks, and related products under the QUIZNOS brand. Restaurants can be located in traditional inline commercial spaces or standalone buildings with or without drive-thrus, as well as non-traditional venues like malls, transportation centers, or school campuses. The business model focuses on franchising to multi-unit operators and individuals targeting fast-casual dining customers seeking customizable subs and quick meals.
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Franchise Costs
5% royalty + 4% marketing fee + $100-$400/mo technology + $230-$340/mo POS + $40-$50/mo music fees
Financial Performance
Item 19 Financial Performance
Data Based On: 118 franchised outlets (23 non-traditional, 95 traditional) open for at least 12 full months as of December 29, 2024, as presented in the '2024 Annual Sales' table. The text above the table mentions 'all 151 franchised outlets', but the sum of franchised outlets in the table is 118.
* Calculated weighted average revenue for franchised units based on the '2024 Annual Sales' table. Used data from 'Non-Traditional Franchised Restaurants' (23 units, avg $234,717) and 'Traditional Franchised Restaurants' (95 units, avg $393,944). The calculation is (23 * $234,717 + 95 * $393,944) / (23 + 95) = $362,908.23. The overall median, top, and bottom quartile revenues are not provided in the table format. No data on gross profit, net income, net profit, or EBITDA was provided.
Extracted Item 19 Section
Avg. Revenue: $362,908
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Unlock financial performance dataQuiznos Franchise Analysis
The toasted sub innovator Quiznos carries scars from bankruptcy and a steep fall from its peak, now operating just 151 locations after decades in franchising. Item 19 earnings disclosure and SBA loan records expose franchisee realities in a competitive fast-casual arena. Does data signal a value play for revival or persistent headwinds?
Item 7 outlines initial investment from $213,900 to $648,800, including a $5,000 franchise fee, suiting inline, standalone or non-trad venues. Fees hit 5% royalty on sales plus 4% brand/ad fund, with added $100-$400 monthly tech, $230-$340 POS, and $40-$50 music—totaling up to $790 extra per month. Item 19 reveals average gross revenue of $362,908 for 2024 units, low for QSR but potentially viable with tight ops; no profit data means estimating 10-15% margins after costs lands EBITDA around $36K-$54K pre-owner salary.
System metrics flag caution: locations dropped from 154 (2023) to 150 (2024), -3% growth amid 4 non-renewals and 2 transfers, though 9 projected new units hint expansion. One corporate store underscores franchise reliance. SBA stats show 57 loans averaging $146,340 but a high 15.8% default rate, plus confirmed bankruptcy history, screams elevated risk. Multi-unit developers might leverage brand equity for turnaround, but average investors face slim margins and contraction—proceed only if ops expertise offsets the red flags.
Analysis based on the 2025 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How Quiznos Compares
Key Insights
- Lower investment than 76% of Fast Food franchises
- Lower than average SBA loan default rate in Fast Food
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
Quiznos Current | $214K – $649K | $5K | 5.0% | 151 |
| MCDONALD'S | $1.5M – $2.6M | $45K | N/A | 12,772 |
| LITTLE CAESARS | $377K – $1.8M | $20K | 6.0% | 3,788 |
| AFC | $45K – $151K | $6K | 9.5% | 3,572 |
| KFC (NON-TRADITIONAL) | $1.2M – $4.2M | $45K | N/A | 3,404 |
| SONIC DRIVE-IN | $1.5M – $2.5M | $15K | 5.0% | 3,120 |
Fast Food Average 132 franchises | $602K – $1.6M | $35K | 6.1% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 132 Fast Food franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2024)
Outlets by state across the United States
+33 more states
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Unlock location growth dataSBA Loan History
Historical SBA 7(a) loan data for Quiznos franchisees (2010 – 2023)
Loans by Year
SBA 7(a) loan activity over time
* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.
57 SBA loans on record
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Unlock SBA loan historyFranchisee Contacts
114 franchisee contacts on file from official FDD filings.
114 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
Bankruptcy (Item 4)
Predecessor QCE Finance LLC, et al., filed bankruptcy in 2014 (Case No. 14-10543, U.S. Bankruptcy Court for the District of Delaware).
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
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Unlock due diligence reportsFrequently Asked Questions
The total initial investment to open a Quiznos franchise ranges from $213,900 to $648,800. This includes a franchise fee of $5,000. Ongoing royalty fees are 5.0% of gross sales.
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