Hall of Fame Induction Year
2003
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Inductee Biography
In 1965, 17-year-old DeLuca borrowed $1,000 from family friend Peter Buck. This was after Buck suggested the idea to help DeLuca make money for college to study medicine. DeLuca's plan was to begin a "fast-food venture that provided a healthful, less fattening bill of fare". On the radio advertisement they had promoted the name as "Pete's Submarines," which sounded like "Pizza Marines", so they changed the name to "Pete's Subway." Eventually in 1968, it was shortened to simply "Subway" as it is known today. With the help of his mother Carmela and Dr. Buck, the first shop opened on August 28, 1965, in Bridgeport, Connecticut. The first year of business was a learning experience and a challenge. A year later they opened their second location, having realized that visibility and marketing were key factors to success. DeLuca believed that the biggest mistake he made was where he set up his very first shop as it was a "crummy location." The third outlet was in a highly visible location and that location is still there today. Fred DeLuca ran Subway as a family business, with his mother running the first shop, his sister working as a "sandwich artist" and even his wife Elisabeth worked in the corporate office. Every Monday, Dr. Buck would visit the DeLuca household and visit Carmela and Fred to discuss the Subway business. As time went on, they eventually turned to a franchising model which is when they saw their growth explode. In 1978, Subway's 100th store opened, and reached the 1,000 store mark in 1987. Explosive growth continued with Subway opening 1,100 units in 1993. During DeLuca's tenure, Subway grew to be the largest franchise in the world. DeLuca aggressively pursued store growth, requiring franchisees open stores nearby their existing ones, in some cases across the street from their existing locations, or else Subway would recruit a competitor that would put them out of business. From 2015 to 2023, Subway had a net loss of approximately 7,000 restaurant locations, although it remains the largest sandwich chain in the US.
Digital Collection
Huizenga College of Business and Entrepreneurship Hall of Fame
Disciplines
Business
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