Firehouse Subs expands in the Northeast
Florida-based Firehouse Subs has big plans. The chain, founded by two fire-fighting brothers Chris and Robin Sorensen, is expanding in the Northeast. Currently, the chain has two operating location in Massachusetts and has another on the way. However, the store that specializes in subs expects to open a whopping 85 locations in the next 5 years, that is a 14% increase from the 600 locations currently in operation.
The franchise has hopes of opening a large portion of the new stores in the Greater Boston area. The current locations are in the Back Bay and Danvers, both of which have done well. David Tucci, who owns the Danvers location emphasizes the new stores need to open stores near other retailers and entertainment centers, “that’s where we live and breathe,” he says. (Boston Business Journal)
Tucci claims shop operators can expect to make near $700,000 in average annual volume. With a start-up cost of $330,000 and a franchise fee of $20,000 there is room for profit. Brokers say one of the most challenging aspects of the business is finding a suitable location for operation. The trick is finding a balance between an area with foot-traffic that is also low-cost.
Interested in leasing a space in the Boston area? Reach out to ABG Commercial. Our experts can help you find the balance you are looking for.