Subway expands UK, Ireland operations, seeks 500 franchisees

Subway is expanding in the UK and Ireland and is seeking 500 franchisees in an expansion that could create 5,000 jobs.

The world's largest fast food brand hopes to take its number of UK and Ireland stores to 3,000 by 2020. Around 150 could open this year.

Subway also planned to launch a new online ordering system over the next 12 months.

According to commentators, the company flagged the move at a potentially risky time as consumers felt the pinch from a Brexit-related squeeze on budgets  due to increasing prices and weaker wage growth.

It was a scenario that economists believed would continue as the UK negotiated its divorce from Brussels.

However, according to Subway's country director, it had to endure a slowdown. It added that the chain was working with suppliers to "lock down prices for the next couple of years".

Peter Dowding, country director for the UK and Ireland said, "The growth expansion has been continual. What we have achieved over the last few years has been phenomenal for the brand and for our franchisees across the UK and Ireland, Belfast Telegraph reported.

"We set some very ambitious targets in 2012, where we said we would get 3,000 stores by 2020 and we are well on our way to achieving that.

"In fact, we will be opening our 2,500th store, which is a fantastic achievement for the brand in the UK. It strengthens our position in the market as being the leading quick service chain in the UK."

Subway was founded in Connecticut, USA, in 1965, had expanded to 44,000 stores in 112 countries due to the popularity of its Submarine sandwiches.

Dowding said the move will strengthen the chain's position within the UK market.

Subway's UK and Ireland turnover hit £515 million in 2016 and the firm planned to open 150 stores by the end of this year.

According to Dowding, Subway's UK operation, which had been going through a ''massive brand transformation,'' would kick-start a new online ordering platform in 12 months' time.