Easily clip, save subway franchise business plan pdf share what you find with family and friends. Easily download and save what you find. QIP Holder, LLC, doing business as Quiznos, is a franchised fast-food restaurant brand based in Denver, Colorado, that specializes in offering toasted submarine sandwiches.
The first Quiznos restaurant was opened in Denver, Colorado, by founder Jimmy Lambatos. At the time, Lambatos was an experienced chef, having previously worked as an executive chef for the Colorado Mine Co. Steakhouse, and having founded the Italian restaurant Footers in 1978. He founded Quiznos with partner Todd Disner in the spring of 1981.
According to Patrick Sweeney, “The sandwich shop earned a following for its toasted subs that Lambatos said were inspired by the oven-baked sandwiches he enjoyed while growing up in New York. Lambatos said of his decision to toast the submarine sandwiches at the first Quiznos that, “it’s a signature type of thing. Heating anything brings out the flavors in food products. After two years, the restaurant started offering franchises to facilitate expansion offering its first franchises in 1983. The franchises were offered under the name Quiznos American, Inc. By 1987, 12 Quiznos restaurant locations were operating in the United States.
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In 1997, Quiznos became the number-three submarine sandwich franchise in the world, with 278 locations in the U. The following year, Quiznos Canada acquired the master franchise rights to Quiznos restaurants in Canada, as well as the master rights in the United Kingdom in 1999. Glenvista Enterprises then acquired the rights for several states in Australia. KMN USA LLC acquired the franchise rights for Japan, opening its first location in early 1999.
The first European location opened in 2001 in Peterborough in the United Kingdom. Between 2007 and 2009, 1,000 Quiznos stores closed. After the closure of around 2,000 restaurants during the Great Recession, a majority stake in the company was purchased by Avenue Capital Group of New York in January 2012. On March 14, 2014, Quiznos filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Colorado. One of the first Quiznos branches in the Philippines. As of 2015 there are now fewer than 1,000 Quiznos restaurants in the United States.