There are not many things we wouldn't do for a free sandwich. When it comes to free sandwiches for life? Well, let's maybe not get into how far we'd go.
Anyway, almost 10,000 people are already going to great lengths to land themselves such a perk by legally changing their names to Subway in order to bag free subs for life from the fast food chain.
Within 96 hours of the original offer being unveiled, thousands had already begun the process of changing their name. However, only one winner will be selected from the thousands of entrants.
The winner will be selected this month, the sandwich chain have revealed. As well as the lifetime supply of free sandwiches, Subway will cover all the winner's legal and processing costs involved with changing names.
Subway (the chain, not any of the current competition entrants) has recently rebooted its menu and also begun offering freshly sliced meats in its US restaurants. The global sandwich slinging giant is also reportedly looking for a buyer, with a private equity firm believed to be the preferred option, according to recent reports in the media.
Last week Reuters reported that a deal worth somewhere in the region of $9 billion could secure a sale and that it could be completed by the end of August. Firms TDR Capital and Sycamore Partners have reportedly been in talks to put a deal together. Another group, led by Roark Capital, also remains in the running.
Roark also owns and operates Jimmy John's, another sandwich chain, based out of C campaign, Illinois, that has more than 2,600 restaurants across 43 states in the US. While the two sandwich franchises compete for a similar customer base and franchisees, Roark is confident that the strategies of the two chains will not conflict with each other.
Private equity firm Advent International had teamed up with Goldman Sachs Asset Management on a bid for the sandwich giant but has since dropped out of the bidding process, the sources said. Goldman Sachs may yet decide to team up with one of the other bidders, the sources added.
Subway has been owned by the founders' families since its first branch opened in 1965.
Originally called Pete's Super Submarines, the fast food behemoth was founded by a 17-year-old Frank DeLuca and financed by family friend Peter Buck, hence the original name. The first branch opened in Bridgeport, Connecticut and underwent several name changes in its formative years before settling on Subway in 1972.
Franchise operations began two years later with a second branch opening in Wallingford, Connecticut. As of June 2021 the chain has 37,540 locations in 100 countries across the globe. Subway's success has seen it become the largest single-brand restaurant chain and largest restaurant operator in the world, despite having to close thousands of locations across America since 2016. A new revamp coupled with a sale are expected to be the changes the brand desires to reverse its fortunes and take the brand into the future.
Subway saw a 9.85% increase in same-store sales in the first half of 2023, which suggests recent menu overhauls have had the desired effect in boosting interest in the chain.