Content Spotlight
Tech Tracker: How digital tech is capitalizing on the hot restaurant reservations market
Tock and Google now offer experience reservations; Diibs launches as a platform for bidding on last-minute reservations
Chain aims to boost franchisee profitability and usher in era of growth
Quiznos franchisee royalty fees and national ad fund contributions will significantly reduce starting January 2017. Photo: Quiznos
In an unprecedented attempt to move “from survive mode to thrive mode,” Quiznos president and CEO Susan Lintonsmith on Thursday announced a significant reduction in franchisee royalty fees and required contributions to the national advertising fund.In an interview with Nation’s Restaurant News, Lintonsmith, who was named CEO in July, outlined what is internally being called “The New Deal,” or the next phase in an ongoing attempt to turn around the beleaguered brand and boost franchisee profitability.
Starting in January 2017, the royalty rate paid by franchisees will be reduced from the current 7 percent to 5 percent. In addition, contributions to the ad fund of about 4 percent will be reduced to about 2 percent, said Lintonsmith.
“We th...
This content is available for registered users
Already Subscribed?
You May Also Like