Mark Rannard never considered running his own business until he ventured into a sub sandwich shop for lunch one day.
Now the owner of seven Subway stores in and around Liverpool, he’s proving more than competent in the role.
Prior to buying Subway franchises he was an audit manager at an insurance company, demonstrating that you don’t need culinary pedigree to run a sandwich franchise.
Subway seemed to become a major high street presence almost overnight, and is still expanding at breakneck speed, opening about six stores a week in UK and Ireland.
Boasting the speed, cheapness and convenience of fast food, Subway sandwiches are also healthier than pizzas, burgers or fried chicken, making it more relevant than ever in a world deep in recession, but still more health-conscious than ever.
Adam Bannister: What, if any, businesses have you run before?
Mark Rannard: My Subway franchise was my first business.
I never considered running my own business until I saw an advertisement for potential franchisees while eating my lunch in a Subway store.
AB: What attracted you to franchising as opposed to buying or setting up your own business?
MR: With a lack of experience in running my own business I wanted to take this first step with a high level of support in place to help me find my feet.
I was concerned about the risks involved in starting my own business from scratch and much preferred the Subway chain’s tried and tested methods.
AB: What attracted you to this particular franchise?
MR: There were quite a few factors involved.
Most importantly I loved the products, and the franchise itself felt very simple and didn’t require a huge sum of money to set up.
I also saw a real future of growth in the Subway brand.
AB: How did you raise the capital?
MR: I sold an apartment in Liverpool in 2003 which gave me some equity that I used to invest in my first store, along with savings I'd put together from my salary.
Financing a Subway franchise
Franchise fee: £6k franchise fee for first outlet, and £1.5k for additional stores
Total investment: About £100k
What you get: A prominent location, usually with high footfall, one of the most recognised brands, a popular menu and comprehensive training and support
Find out more about the Subway franchise opportunity.
