
How Fast-Food Franchising Actually Works
Almost every restaurant you think of as a chain is owned by someone else entirely. What the franchisee actually buys, and why it explains the price on the board.

Menus and prices in 14 markets, 1,060 items tracked.
Subway is the most consistently priced brand in our entire price index, and the reason is structural rather than commercial restraint. A sandwich counter needs no fryer, no extraction and no specialist equipment, its ingredients are sourced locally everywhere, and it competes on price in every market it enters.
The result: the Italian B.M.T. spans ten markets at between about $3.65 and $8.49 - A band of roughly 2.3x, against five-fold spreads elsewhere on this site.
Subway has 23 products in the index, joint-most of any brand, and 851 items across eleven markets. The Veggie Delite is one of the most reliably available meat-free options in chain food, for the same reason: it needs nothing the kitchen does not already have.
Each market has its own board. Prices are shown in local currency and are not comparable across rows - Use the index below for that.
| Market | Items | Cheapest | Average | |
|---|---|---|---|---|
| Thailand
THB |
92 | ฿29 | ฿243.88 | Full menu → |
| USA
USD |
53 | $1.99 | $7.15 | Full menu → |
| Singapore
SGD |
110 | S$1.60 | S$14.32 | Full menu → |
| Philippines
PHP |
103 | ₱34.50 | ₱248.19 | Full menu → |
| Malaysia
MYR |
37 | RM2.91 | RM17.21 | Full menu → |
| Hong Kong
HKD |
80 | HK$5 | HK$48.56 | Full menu → |
| Australia
AUD |
87 | A$1.90 | A$12.41 | Full menu → |
| Canada
CAD |
72 | C$0.40 | C$6.94 | Full menu → |
| United Kingdom
GBP |
103 | £0.99 | £6.44 | Full menu → |
| Ireland
EUR |
19 | €2.19 | €8.41 | Full menu → |
| New Zealand
NZD |
95 | NZ$1 | NZ$10.38 | Full menu → |
| United Arab Emirates
AED |
148 | AED 6 | AED 33.59 | Full menu → |
| India
INR |
24 | ₹60 | ₹213.99 | Full menu → |
| Poland
PLN |
37 | zł 8.90 | zł 27.68 | Full menu → |
Prices are in each market’s own currency and are not comparable across rows; for that, use the price index.
Products sold under one name in four or more of our markets, converted to US dollars at weekly mid-market rates.
| Product | Markets | Cheapest (USD) | Average (USD) | Priciest (USD) | Gap |
|---|---|---|---|---|---|
| Italian B.M.T.™ | 10 | $3.65 | $5.78 | $8.49 | +133% |
| Veggie Delite™ | 7 | $1.80 | $4.19 | $6.50 | +261% |
| Spicy Italian | 7 | $3.06 | $5.17 | $8.49 | +178% |
| Steak and Cheese | 7 | $3.18 | $6.17 | $7.87 | +148% |
| Classic Tuna | 7 | $2.82 | $4.67 | $6.40 | +127% |
| Veggie Delite™ Salad | 6 | $1.62 | $5.59 | $8.03 | +396% |
| Tuna Salad | 6 | $2.03 | $6.04 | $8.81 | +335% |
| Roast Beef | 6 | $3.12 | $5.33 | $7.88 | +153% |
| Subway Club™ | 6 | $3.89 | $5.86 | $9.29 | +139% |
| Meatball Marinara | 6 | $2.95 | $5.26 | $6.79 | +130% |
| Italian B.M.T.™ Salad | 6 | $5.17 | $7.56 | $9.30 | +80% |
| Chicken Teriyaki | 5 | $3.48 | $5.97 | $9.26 | +166% |
| Veggie Delite™ Wrap | 5 | $2.84 | $5.65 | $7.08 | +150% |
| Chicken Teriyaki Wrap | 5 | $3.65 | $6.31 | $7.72 | +112% |
| Subway Club™ Salad | 5 | $5.17 | $7.23 | $9.45 | +83% |
| Spicy Italian Salad | 5 | $5.17 | $6.96 | $9.38 | +81% |
| Chicken Teriyaki Salad | 5 | $5.10 | $6.72 | $8.98 | +76% |
| Steak and Cheese Salad | 5 | $5.48 | $7.45 | $9.35 | +71% |
| Ham Salad | 4 | $2.03 | $5.19 | $7.72 | +281% |
| Veggie Patty | 4 | $3.64 | $5.65 | $7.17 | +97% |
| Tuna Wrap | 4 | $3.81 | $5.61 | $7.05 | +85% |
| Spicy Italian Wrap | 4 | $3.81 | $5.78 | $7.02 | +84% |
| Subway Melt™ Salad | 4 | $5.27 | $7.02 | $9.69 | +84% |
| Sweet Onion Chicken Teriyaki | 4 | $4.72 | $6.63 | $8.49 | +80% |
| Turkey Breast | 4 | $4.13 | $4.71 | $5.99 | +45% |
| Ham | 4 | $3.32 | $3.82 | $4.46 | +34% |
| Italian B.M.T.™ Wrap | 4 | $6.07 | $6.35 | $6.89 | +14% |
Every item across every Subway menu, mapped onto our dish taxonomy.
In 1965, a 17-year-old named Fred DeLuca sought a way to fund his college education. With a $1,000 loan from family friend Dr. Peter Buck, a nuclear physicist, the duo opened a modest sandwich shop in Bridgeport, Connecticut, initially named "Pete’s Super Submarines." The shop sold 312 sandwiches on its first day, each priced between 49 and 69 cents. By 1974, they had expanded to 16 locations and began franchising, laying the groundwork for what would become a global sandwich phenomenon.
Subway's menu is a celebration of choice and freshness. The introduction of the Signature Menu offers curated sandwich combinations like the Italian Meatball and Pizza Melt, designed for those seeking quick, flavorful options. For traditionalists, the classic build-your-own approach remains, allowing guests to customize their meals with a variety of breads, proteins, vegetables, and sauces. The emphasis is on quality ingredients and the joy of creating a meal that's uniquely satisfying.
Subway's commitment extends beyond its menu. Through initiatives like the Subway Cares Foundation, the company supports hunger relief, provides scholarships, and fosters leadership opportunities for youth. Local franchisees often engage with their communities, offering support during times of need and participating in local events. This dedication to community involvement reflects Subway's belief in nourishing not just appetites, but also the neighborhoods it serves.

Almost every restaurant you think of as a chain is owned by someone else entirely. What the franchisee actually buys, and why it explains the price on the board.

Localisation is not adding a novelty item. It is a staged process with a predictable sequence, and the menu data shows exactly how far each market has travelled.

Menu boards are designed documents, not lists. Where the money items sit, what the ordering of panels is doing, and how to find the price you actually want.
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