Subway’s President and Co-founder Fred DeLuca is no more.
Subway’s President and Co-founder Fred DeLuca is no more. He was diagnosed with leukemia two years ago, He was 67. DeLuca's death came weeks after the company celebrated its 50th anniversary.
DeLuca decided to open a sandwich shop to help pay for college after graduating high school. The idea came from a family friend, Peter Buck, who was his co-founder and provided the $1,000 to start the business.
In an exclusive interview with Franchise India in June this year, Deluca had shared moments of his exciting Subway journey and also said that competition is always good for business. It motivates you to keep doing your best.
He shared his journey with us telling all about how it began. Here are excerpts from the interview-
It all started with a suggestion from close-family friend Dr Peter Buck, who helped us start the first Subway sandwich shop and is Subway’s Co-founder and partner. Back in July 1965, while visiting Pete and his family, at their new home in New York, both of us got into conversation when I eventually asked him for advice on how to earn money to fund my college tuition. His suggestion was the turning point of my career, and honestly I wasn't quite prepared for it, as I wanted to become a doctor! Pete said to me, “I think you should open a submarine sandwich shop.” Anyhow, I decided to give it a try and with a $1,000 loan from Pete, opened my first sandwich shop in August, 1965 at the age of 17….
(To read the full interview please click-)
Subway, based in Milford, Connecticut, said in July 2013 that DeLuca was diagnosed with leukemia. It said that DeLuca was in regular contact with his management team, but on a reduced basis as he received treatment.
DeLuca is survived by his wife, sister and son, according to Subway.