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Former House Lawyer Grows His Subway Empire to 1,000-Plus Locations |
The cost of food is increasing. A slumping economy is forcing Americans to eat out less frequently. Home values are dropping. Gasoline is rising. Starbucks is shuttering stores.
And Larry Feldman -- the Subway King of the mid-Atlantic -- has just opened his 1,019th shop in the region.
Business, says the 58-year-old, is excellent.
"In this economy, people can always withhold from the white-tablecloth restaurant, from the more expensive meal, and eat at Subway for $5," said Feldman, relaxing in a leather chair at one of his busiest stores, at the corner of L Street and Connecticut Avenue NW in downtown Washington. "It's an ideal time for our products. Average unit volume is up about 20 percent."
Feldman is also going to open the first Subway Cafe, aimed smack at the Starbucks crowd. The new upscale concept, which will debut in Alexandria next month, will be a hybrid between sandwich shop and coffee bar. The stores will feature brick or wood-paneled walls, comfortable armchairs, gelato, baked goods and panini.
Feldman is planning five Subway Cafes in his territory the next couple of years.
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Source - Washington Post
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