Let’s talk about Quiznos, the sandwich shop. Are they still around in 2023? It used to be one of the top three sandwich places in the United States, but things have changed a lot.
What Happened to Quiznos?
Quiznos used to be super popular with over 4,700 locations in 2007. But by 2017, there were fewer than 400 left! That’s a huge drop, like going from a big family to just a few people. They lost about 90% of their stores, which is pretty surprising.
How Did They Lose So Much Money?
A company in San Diego bought Quiznos, and things didn’t go well. They had problems with their business plan, and there were lots of lawsuits. Also, other sandwich places made better choices, which made Quiznos struggle even more. It’s one of the weirdest stories of a restaurant going down.
What’s Happening Now?
As of December 2022, there are only 164 Quiznos locations left in the U.S. That’s way less than they had in 2007 when they were at their peak with 5,000 stores! They used to make almost $2 billion in 2007, but now they make less than $100 million a year from all their stores. Even after the pandemic, their sales dropped by 22.5%.
Why Did Quiznos Struggle So Much?
A lot of things went wrong for Quiznos. They had issues with franchise owners, lawsuits, and bad publicity. They tried to fix things, like reducing what franchisees had to pay and starting a new loyalty program, but it might have been too late.
What’s the Future for Quiznos?
Quiznos has had a tough time, and it’s not clear what will happen next. They only had 170 stores left in June 2022. But they’re trying to make a comeback with new plans and a fresh menu. So, we’ll have to wait and see if they can turn things around and become popular again.
In summary, Quiznos was once a big sandwich chain, but it lost a lot of stores and money over the years. They’re trying to make a comeback, but it’s a tough road ahead.
Why Did Quiznos Close So Many Stores?
Okay, let’s talk about why Quiznos had to close down lots of their stores. This caused a big problem because when you have fewer stores, you make less money to spend on advertising and stuff.
Too Hard for Store Owners
The folks who owned Quiznos stores were having a really tough time. They didn’t make much money, and with the stores closing, it got even worse. Even when Avenel Capital Group bought most of the company in 2012, they couldn’t save it. Quiznos had to declare bankruptcy in 2014, and they owed a whopping $875 million!
Quiznos used to be a franchise, which is like when you open a store under their name. It can be awesome, but sometimes it doesn’t work out. Quiznos stopped helping their franchise owners like partners and started treating them more like customers. That made things worse.
New Owners, Same Problems
High Bluff Capital Partners bought Quiznos in 2018 when they only had around 200 stores left. They say they charge fair prices to the franchisees, but it’s up to the ones still in business to decide if it’s really fair.
Is Quiznos in Canada?
Remember when Quiznos was a big deal in Canada, especially in Toronto? Well, it’s not the same anymore. Quiznos didn’t become as popular as Subway or Mr. Sub, but people liked their toasted sandwiches in the early 2000s.
Gone in Toronto
One of the last Quiznos in Toronto got torn down to make room for a condo building. There’s only one place left in Toronto where you can get Quiznos subs, and it’s part of a Ghost Kitchen way out west on Brown’s Line. So, you can’t find Quiznos in Toronto anymore.
Why Did They Disappear?
Back in the late 1990s and early 2000s, Quiznos was growing fast with lots of stores in and around Toronto. But when the economy got bad in the late 2000s, they had a tough time. In 2014, they even filed for bankruptcy in the U.S. They tried to fix things, but they couldn’t become the top restaurant again.
No More Quiznos in Toronto
If you’re in Toronto, you won’t find a Quiznos using their store locator. The last ones are in the 905 area, like Markham, Vaughan, Mississauga, and Oshawa. So, if you’re in the 416 area, you’ll have to travel quite a bit.
Quiznos in Canada Now
As of November 25, 2022, there are only 106 Quiznos locations left in Canada. Most of them, about 30%, are in British Columbia. So, they’re not as common as they used to be.
That’s the story of Quiznos in Canada and why they had to close so many stores.
So, looking at Quiznos’ story, we can see that a bunch of things came together that caused them to fail. These things happen in business, but Quiznos had a unique combination of troubles. It’s unlikely that we’ll see the exact same situation again.
But there are some important lessons for the restaurant industry here. The biggest one is that it’s crucial for franchisees (the people who own the stores) to make money. The company needs to find ways to keep making money too.
In the business world, it’s always a bit bumpy, with ups and downs. Learning from Quiznos’ experience, the industry can try to avoid some of the problems they faced and keep on serving delicious food to hungry customers.