Franchise Facts Report → brands → Subway
Subway franchise — is it worth it?
High risk Shrinking network
Subway is a well-known quick-service restaurant brand with an investment range of $263,000 to $630,000.
Everything below is free, read straight off Subway's registered filing, with where the numbers land against quick-service restaurant peers. Weighing Subway against other options? Get a free shortlist of franchises that fit your budget.
Figures above are as disclosed in Subway's most recent FDD (registered 2026). Source: Minnesota Dept. of Commerce — CARDS franchise registrations · filing 36389-202604-19 — check it yourself. See every other Minnesota-registered franchise.
Considering Subway? See what else fits your budget
Tell us your budget and the industries you're open to. We'll match you with 5–10 franchises whose own FDDs fit — ranked by earnings disclosure, growth and closure rate — and email you the list. Subway will be on it if it fits.
Subway franchise profit — what the FDD discloses
Plainly: Subway does not disclose franchise profit or revenue. Its most recent FDD makes no Item 19 financial performance representation, so there is no franchisor-backed earnings figure for Subway — any number quoted elsewhere is an estimate, not a disclosure. The absence is itself worth weighing (56% of quick-service restaurant franchisors in our corpus do disclose); the fees, litigation and outlet churn Subway's FDD does contain are on this page. For brands that put earnings on paper, see Fast food & quick-service restaurant franchises with disclosed Item 19 earnings.
Subway lawsuits & legal history (FDD Item 3)
Subway's most recently filed Franchise Disclosure Document (2026) does disclose 57 legal proceedings in Item 3 . Item 3 is the item where a franchisor must put its material legal history on the record. Two things it is not: it covers the franchisor and its predecessors, parents and affiliates, so a disclosed case is not necessarily a suit against Subway itself; and a disclosure is a fact, not a finding of wrongdoing — most entries are contract disputes with former franchisees, which every large system accumulates. 57 of those proceedings were brought by franchisees against the franchisor — the split that actually matters, because franchisees suing their franchisor is the signal a buyer is looking for. Item 3 of the source FDD describes each case.
Subway closures & failure rate
Before you sign, Subway will hand you a list of current owners to call as references — and they choose who's on that list. It won't include the owners who quit, got bought out, or were forced out last year. The FDD does report that number, even though the reference list leaves those people off. Below is what Subway's most recent filing shows, and whether it's normal for a quick-service restaurant of this kind.
The closest thing an FDD has to a failure rate is Item 20 — outlet openings, closures, terminations and non-renewals, reported by the franchisor. Subway's latest tables show a shrinking franchised network — more units left than opened. Net franchised outlets moved -729 to 18,773 in the latest reported year.
Who owns Subway?
Subway's franchise is offered by Doctor's Associates LLC — the franchisor named on the cover of its most recently filed Franchise Disclosure Document (2026), and the entity a franchisee actually signs with. That name comes straight off the filing at MN CARDS; it identifies the franchisor, not necessarily the ultimate parent company behind it.
Compare Subway head-to-head
Quick-service restaurant franchises at a similar investment level
Anyone weighing Subway is really weighing it against the other brands their money could go into. These are the closest by total initial investment (FDD Item 7), each with its own FDD-based page.
Subway franchise — frequently asked
Who owns Subway — who is the franchisor?
Subway's most recently filed FDD (2026) names Doctor's Associates LLC as the franchisor — the entity you would actually sign the franchise agreement with, as stated on the disclosure document itself. A registry filing names the franchisor, not necessarily its ultimate parent company.
How much does a Subway franchise cost?
Subway's most recently filed FDD (Item 7) puts the total estimated initial investment at $263,000 – $630,000, with an initial franchise fee of $15,000 and a 8% royalty. That price is the franchisor's own estimate of what it takes to open, not a quote. Against quick-service restaurant peers it sits in the top quartile (median $604,609).
How much profit does a Subway franchise make?
Subway makes no Item 19 financial performance representation, so there is no franchisor-disclosed revenue or profit figure for Subway at all — and profit would never be disclosed even where earnings are, because it depends on your rent, labor and how you operate. Any profit figure quoted elsewhere is an estimate, not a disclosure.
Does Subway disclose financial performance (Item 19)?
No — Subway's most recent FDD makes no Item 19 financial performance representation. Its absence is worth weighing: 56% of quick-service restaurant franchisors in our corpus do disclose.
Are there lawsuits against Subway?
Subway's most recently filed FDD (2026) discloses 57 legal proceedings in Item 3. Item 3 covers the franchisor, its predecessors, parents and affiliates — so a disclosed case is not necessarily a suit against Subway itself, and a disclosure is not a finding of wrongdoing. 57 of the disclosed proceedings were brought by franchisees against the franchisor.
Is Subway a good franchise to buy?
Nobody can answer that from Subway's numbers alone — it comes down to how its investment, earnings, litigation and franchisee churn stack up against quick-service restaurant peers and against your own budget. Our read on this filing is high risk. Every figure behind that read is on this page for free. If you're comparing options, the free shortlist on this page matches you with 5–10 franchises that fit your budget and industry.
Get a free email when something changes on Subway or quick-service restaurant: a new FDD registration, a new lawsuit, an outlet count that shifts, or Item 19 earnings going from undisclosed to disclosed. Pulled straight from the same state registries this page is built on.