Fred DeLuca, born in 1948 in New York City, is the billionaire co-founder of the Subway franchise of sandwich restaurants. DeLuca is an alumnus of University of Bridgeport and Central High School in Bridgeport, CT.
When DeLuca was seventeen years old, he borrowed $1,000 from family friend Peter Buck to start his first sandwich shop in 1965. In 1978, Subway’s 100th store opened, and in 1987, the franchise had 1000 stores.
As of October 2008, the company counts over 34,000 franchised locations in 91 countries and produces US $9.05 billion sales every year.
Contributions
DeLuca's Subway is one of the most recognized brands today. Subway's success has inspired other entrepreneurs to start their own businesses and franchises throughout the world. DeLuca and Peter Buck also partnered to create Franchise Brands in an effort to assist other entrepreneurs in replicating their success in the franchise industry.
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