July 23, 2014 (LBO) – Subway, a US-based fast food franchise which launched in Sri Lanka this week is planning a 30-store chain in the island over the next five years, officials said.
“All we see is an aggressive growth plan for Sri Lanka, it™s up to the local entrepreneurs to join with us for our growth plan in Sri Lanka.”
Around the world the chain now employs over 400,000 people. The Sri Lanka operation so far employs 35 people.
Wills said each store will need an investment of about 300,000 US dollars
“We also have a strategy called nontraditional location which are airports, hospitals etc. where we have the ability to put a store in a competitive location,” Wills said.
Sebastian said with Sri Lanka targeting 4000 US dollar per capita income, eating out among consumers is expected to increase.
“Also with the influx of tourists we see an opportunity,” he said. They also like to experience international brands with a local taste which they have experienced internationally. So that where the Subway is a natural fit in Sri Lanka.”
Subway opened its first store in Colombo’s upmarket R A De Mel Mawatha this week.
“We are planning to open 30 sto