With a 94% location count decrease since 2007, business metrics of the once-ubiquitous chain have ignited industry-wide speculation as to the company’s future.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: EatThis.com, Wikipedia.org, and RestaurantBusinessOnline.com.
According to a May, 2021 article from EatThis.com, “This Once-Popular Sandwich Chain Is on a Steep Decline,” though the brand was said to be trying to make a comeback through ghost kitchens, odds were long those ambitious plans would be realized: Quiznos currently operates only 255 U.S. locations and over 300 international ones, according to Restaurant Business. That's a far cry from the 800 stores the company had in 2019, and an even farther one from the footprint of 5,000 locations it had in its heyday in 2007. In fact, the number of Quiznos restaurants in the United States has declined by 94% in 15 years.
For perspective, “A Brief History of Quiznos‘ Collapse,” published by RestaurantBusinessOnline.com in June, 2019, stated: On Monday, Quiznos was sold to an investment firm out of San Diego. This has given me time to tell the story of one of the biggest restaurant chain collapses in industry history. Between 2007 and 2017, Quiznos shrunk from 4,700 U.S. locations to fewer than 400. We can find no other example of a chain that had grown to that size that has shrunk that much in such a short period of time.
Regarding today’s location count, per ScrapeHero.com: There are 171 Quiznos locations in the United States as of May 26, 2022. The state with the most number of Quiznos locations in the US is California, with 20 locations, which is 11% of all Quiznos locations in America.
Will the company be able to truly turn a corner, considering these numbers?
Let us explore further.
Wikipedia features a comprehensive overview of the Quizno’s chain: Quiz Holdings, LLC, doing business as Quiznos, is an American franchised fast-food restaurant based in Denver, Colorado, that specializes in offering toasted submarine sandwiches. It was founded in 1981 by Jimmy Lambatos and sold to Rick and Richard Schaden ten years later, before growing to nearly 5,000 restaurants afterwards. As of 2013, Quiznos was the second-largest submarine sandwich shop chain in North America, behind Subway. A 2016 survey indicated that Quiznos was the ninth-largest submarine sandwich shop chain based on sales.
The company’s business has fallen precipitously since.
As for Quizno’s announced new strategy, see here for another Restaurant Business Online article, this one from May, 2021 and entitled “Quizno’s, a Fraction of its Peak Size, Turns to Ghost Kitchens.”
As excerpted from the article: Quiznos’ parent company, Rego Restaurant Group, this week announced a deal with Ghost Kitchen Brands to put the chain, along with sister concept Taco Del Mar, into 100 of its ghost kitchens in the U.S. and Canada by the end of this year... Ghost kitchens are basically takeout food courts, where the brands are operated either by a single entity or by multiple concepts that lease space. They can house major brands or independents or virtual brands. And they’ve been booming over the past year as restaurants have looked for ancillary income during the pandemic while third-party delivery demand took off.
Though the article goes on to state 2021 revenues have not fallen as drastically as in prior years, the company remains in a vulnerable financial state.
For now, Quizno’s is holding on. No formal plans have been announced regarding the company shuttering completely.
Time will tell, however, if the ghost kitchen concept will help matters and ensure the company’s survival.
Thank you for reading.