Sandwich chain Subway announced today its intention to open 500 new stores across the UK and Ireland by 2020.
The move would see the creation of around 5,000 new jobs for the British economy, boosting its store presence 3,000.
Peter Dowding, country director for 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
“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,” he continued.
The Subway sandwich chain was founded in Newport, Connecticut in the US back in 1965, with the company now having a total of 44,834 restaurants in 112 countries.
Alongside the ambitious expansion plan, which will see 150 stores open towards the end of the year, is also in the process of overhauling its menus.
In a bid to appeal to the growing market and consumer appetite for healthy eating, the chain is also planning to add more salads to the mix.
“We already have a breakfast menu, but it’s a part of the day we need to work on,” Mr Dowding said.
Over six years ago Subway reached the landmark of overtaking McDonald’s (NYSE:MCD) as the world’s largest restaurant chain, however Dowding highlighted the fierce competition across the industry.
“It’s everyone. It’s a very competitive world out there,” he said.
Looking ahead, with regards to instability as a result of Brexit negotiations Mr Dowding said the brand had yet to feel the impact.
“It’s business as usual. Like any other business we’re waiting to see what the government does and will tackle it from there,” he said.
Peter Dowding joined Subway nine months ago as regional director, after previously holding the title of Managing Director for YooMoo Limited.