Subway has committed to opening more than 9,000 additional restaurants worldwide. Credit: Subway Restaurants/PRNewswire.

US-based fast food restaurant company Subway has signed a new master franchise agreement with Shanghai Fu-Rui-Shi Corporate Development (FRS) to strengthen its reach in Mainland China.

This is claimed to be the largest master franchise agreement for Subway and one of the largest in the global quick service restaurant (QSR) business.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

A consortium of private investors, including Asia Investment Capital (AIC), has financed it.

As part of the new collaboration, FRS will open 4,000 restaurants in Mainland China over the next 20 years.

The company said that this will result in a more than seven-fold increase in the brand’s existing Chinese footprint.

See Also:

Additionally, FRS will assume exclusive rights to managing and developing all Subway outlets in the country.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The group also plans to appoint a CEO with extensive QSR experience in the Chinese industry.

Subway global CEO John Chidsey said: “This agreement is a significant milestone in Subway’s international growth strategy as we continue to focus on strategically expanding our footprint and maintaining our position as one of the world’s largest restaurant brands.

“China is a key market with significant long-term growth opportunity and we look forward to bringing the Subway experience to even more guests in the region.”

With the new franchise agreement, Subway has committed to opening more than 9,000 additional restaurants worldwide.

The latest agreement is the 13th master franchise and development agreement signed by the company in the last two years.

Subway seeks to expand in the Asia Pacific, growing its restaurant count in the market to more than 6,000 from 3,500 in the coming five years.

The brand reported positive sales in Mainland China since coming out of the pandemic, benefitting from the launch of new menu items and its digital strategy.