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Subway FDD Analysis · 2026

Subway Franchise Cost (2026 FDD)

Inside the Subway franchise disclosure

You searched the right thing. The FDD is the document that spells out what a Subway franchise is really about — what you're committing to, and what they're committing to you. Here's a sampling of what their 2026 Franchise Disclosure Document reveals:

Investment to open
$263K–$630K
System size
18,77318,773 franchised
Financial perf. (Item 19)
Not in this FDD
Year
2026analyzed May 9

§What changed — in 2025, Subway contracted from 19,502 to 18,773 locations. (Item 20.)

§Already a Subway franchisee? See everything that changed since you signed →

01 · From the filing

Here's what their franchise disclosure tells you

Six of the items Subway's 2026 FDD has to answer, drawn straight from the filing. The rest of the document — and the figures behind these — open in your Clearly™ Workspace.

§
Item 7
·

Estimated Initial Investment

The full cost to open, low to high, including working capital.
$263,000–$630,000
Item 7 · Single new traditional restaurant.
§
Item 19
·

Financial Performance

Makes no financial performance representation — no earnings figures are disclosed.
§
Item 20
·

Outlets & Franchisees

Outlet counts, openings and closures, turnover.
18,773 locations
In 2025, opened 499 new locations and closed 1,076.
§
Item 6
·

Other Fees

The recurring fees — royalty, brand fund, and the rest.
8% royalty · 4.5% brand fund
See the full fee schedule with Clara →
§
Item 5
·

Initial Fees

The upfront fees due before opening.
$15,000 franchise fee
§
Item 12
·

Territory

Does not give you a protected area of your own.
Ask Clara what the terms mean →

Subway's $263K–$630K sits against a median of $617,000 across the 32 sandwich franchises on file that disclose an investment range.

02 · Read it with Clara

Open Subway's FDD in the Clearly Workspace — with Clara beside you.

Subway's franchise agreement is a 20-year commitment — and the FDD spells out exactly what you're signing up for. You cannot change the FDD, and that's not the point. The point is to walk into your attorney conversation already knowing the document, so you ask the questions that matter most to you.

Clara is an expert FDD assistant. Ask her anything about Subway's filing and she answers from the document itself, with the item and page she read it in — so you can check her.

You don't have to know what to ask first.

Open the Workspace and Clara offers to walk you through the filing, Item by Item: what it says, why it matters, and what to verify. Every answer links to the Item and page in the FDD. Ask your own questions whenever you want, and your Guided Review progress is saved, so you can stop and come back to it.

People ask Clara —

  • What does it actually cost to open?
  • What fees come after the franchise fee?
  • How do their locations perform?
  • Do I get a protected territory?
  • What happens if I want out?

The Subway Workspace

$19

One-time · yours to keep

Get FDD + Workspace — $19
A Clearly Workspace for McDonald's showing the Clearly Report, both FDD filings, and the Year-over-Year report, with Clara offering to start Guided Review
Shown: McDonald's, with both filings and the Year-over-Year report.
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The full FDD in your Clearly Workspace · Guided Review through the 23 Items · Clara beside you, unlimited questions · Year-over-Year report included · saved to your Clearly Library · yours to keep

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03 · Common questions

Common questions

How much does it cost to open a Subway franchise?

Subway's 2026 FDD estimates a total initial investment of $263,000 to $630,000 including the $15,000 franchise fee. (Item 7.)

What are the ongoing fees for a Subway franchise?

Subway reports a royalty of 8%, plus a 4.5% brand-fund contribution; the rest of the recurring fees are itemized in Item 6 of the 2026 FDD.

Does Subway share how its franchises perform financially?

Subway's 2026 FDD does not include a financial performance representation — Item 19 makes no earnings claims.

How many Subway locations are there?

Subway's 2026 FDD reports 18,773 locations — 18,773 franchised and 0 company-owned (Item 20).

Can Clearly help me review the Subway FDD?

Yes. Open the Subway Workspace and Guided Review walks through the filing Item by Item: what each Item discloses, why it matters, and what to verify, with a link to the page in the FDD. Your progress is saved, and you can ask Clara unlimited follow-up questions along the way. Clearly explains what the FDD says. It does not score the franchise or give legal advice.

Drawn from Subway's 2026 Franchise Disclosure Document · last updated May 9, 2026.

Keep reading

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