FDD-based analysis. Item-level data. No franchisor input.
Doctor's Associates LLC, doing business as Subway, franchises Subway restaurants and, since August 2021, has also offered Master Franchise Businesses that license independent operators outside the United States to sell direct unit Subway restaurant franchises to third parties. Subway restaurants use the SubwayPOS point of sale software, licensed through affiliate Subway US IP Holder LLC, and operate from premises often leased or subleased to franchisees by affiliated real estate entities such as Subway Real Estate, LLC. Subway also administers a Sub Club loyalty program for restaurant customers through its affiliate Subway MyWay, LLC.
Source: Entrepreneur 2026 ranking/profile data and Franchise Disclosure Document, rewritten by Zorzee
Every value here comes straight from the FDD; anything not yet source-verified stays blank rather than estimated. The Pro figures and full interpretation unlock with a Pro membership.
Every data point Zorzee tracks for this brand, in FDD Item order. Missing source data stays blank; Pro-only interpretation remains locked.
| Item | Data Point | Value | Source |
|---|---|---|---|
| Item 3 | Litigation Actions (total) | 1 action disclosed | FDD Item 3 |
| Item 5 | Initial Franchise Fee | The Initial Franchise Fee is $15,000 (Item 5, p.29). | FDD Item 5 |
| Item 5 | Development Fee | $7,500 reduced fee; $5,000 satellite fee; $1,000 short-term satellite fee; $3,750 add-on fee; $0 School Lunch and Community Development Program fee | FDD Item 5 |
| Item 6 | Royalty Fee | Royalty: 8% of total gross sales, payable weekly. | FDD Item 6 |
| Item 6 | National Media Fund | Pro | FDD Item 6 |
| Item 6 | Corporate Ad & Development Fund | Pro | FDD Item 6 |
| Item 6 | Total Ongoing Fee Burden | Pro | Calculated (Item 6) |
| Item 7 | Total Investment (low) | $263,000 | FDD Item 7 |
| Item 7 | Total Investment (high) | $630,000 | FDD Item 7 |
| Item 8 | Required Purchases (food/supplies) | Pro | FDD Item 8 |
| Item 11 | Franchisor Assistance | Pro | FDD Item 11 |
| Item 12 | Exclusive Territory | Pro | FDD Item 12 |
| Item 12 | Territory Size | Pro | FDD Item 12 |
| Item 15 | Operating Participation | Pro | FDD Item 15 |
| Item 17 | Initial Term Length | Pro | FDD Item 17(a) |
| Item 17 | Renewal Terms | Pro | FDD Item 17(b)-(c) |
| Item 17 | Required Remodel at Renewal | Pro | FDD Item 17(c) |
| Item 17 | Termination Triggers | Pro | FDD Item 17(f)-(h) |
| Item 17 | Transfer Fee | Pro | FDD Item 17(m), Item 6 |
| Item 17 | ROFR Provisions | Pro | FDD Item 17(n) |
| Item 17 | Post-Termination Non-Compete | Pro | FDD Item 17(r) |
| Item 19 | Revenue Metric Disclosed | Pro | FDD Item 19 |
| Item 20 | Total Franchised Units (2025) | 18,773 | FDD Item 20 |
| Item 20 | Company-Owned Units (2025) | 0 | FDD Item 20 |
| Item 20 | Total System Net Unit Growth (YoY) | -729 | FDD Item 20 |
| Item 20 | Terminations | Pro | FDD Item 20 |
| Item 20 | Agreements Signed, Not Yet Open | Pro | FDD Item 20 |
| Item 21 | Audited Financials | Pro | FDD Item 21 |
Each signal turns one part of the filing into a read a buyer can act on. Strength means the disclosed data is favorable. In Line means it is typical for the category. Deal-Specific means the term is populated but you still have to model it against your own deal. Concern means the disclosed data is a real risk. The read is free. The reasoning behind it is the Pro read.
Subway does not disclose an Item 19 earnings claim in the tracked filing. The caution below stays free.
This filing does not publish an Item 19 earnings claim. There is no earnings figure hidden behind the Pro gate.
Subway trajectory is shown only where source-backed. Missing Item 20 fields stay blank inside the locked layout instead of removing the section.
Source: FDD Item 20 where present. Total system units, franchised plus company-owned. Not financial advice.
1 action disclosed in FDD Item 3. Case-level detail remains locked in Pro.
Zorzee editorial. Independent analysis. No franchisor review or approval. Not financial advice.
The filing tells you what Subway costs to open. Pro adds the read on whether the numbers work for you, in your market, and whether this brand is a business or a job you bought.
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