Tubby's Sub Shop Inc.

Submarine sandwiches

Background

Founded: 1968 Franchising since: 1978
Founder Richard Paganes opened the first Tubby's Sub Shop in 1968 in St. Clair Shores, Michigan. The company began franchising in 1978 and has locations in the Midwest and southeastern United States. Tubby's, which began as a family-owned and -operated business, is now public and is based in Clinton Township, Michigan.

18357 E. 14 Mile Rd.
Fraser, Michigan 48026

Phone:
(586)792-2369

Franchisor has 15 employee(s); 2 employee(s) in franchise department.

Franchise Growth

Year	U.S. Franchises	Canadian Franchises	Foreign Franchises	Company Owned
2007	73	0	0	2
2006	86	0	0	1
2005	96	0	0	2

Where Seeking Franchisees
In the U.S. Florida, Michigan, Ohio, United states

Exclusive territories available.
Territory size: Depends

Costs and Fees

Total investment: $81.9K-247K
Franchise fee: $17.5K-20K

Ongoing royalty fee: 6%
Term of agreement: 10 years, renewable

Type of Financing Available

	In-House	Third Party
Franchise Fee	No	Yes
Startup Costs	No	Yes
Equipment	No	Yes
Inventory	No	Yes
Accounts Receivable	No	Yes
Payroll	No	Yes

Qualifications
Net worth requirement: $350K-500K
Cash liquidity requirement: $75K

Operations

20% of all franchisees own more than one unit
Number of employees needed to run franchised unit: 3 - 4
Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators)