Quiznos wasn’t happy with giving away its franchisee’s money with the unannounced 1,000,000 free subs, they’ve now risen to an all new low by dropping the bar on sandwiches from $5 to $4. So how did this come about? Well, it starts with your young and less than knowledgeable (no clue on human nature, past historical ramifications of such actions) marketing person, Ms. Rebecca Steinfort:
“The reality is that we are a challenger brand,” Chief Marketing Officer Rebecca Steinfort said in an interview. “Our main competition is Subway, which is an 800-pound gorilla. We may be 200 pounds, but they’re 800.” – AdAge article by Emily Bryson York
Now who pays for the reduction in profits? Why the franchisees of course! Check out the next statement:
At Quiznos, marketing failed to drive traffic and closed stores. The chain now has about 4,500 locations worldwide, by Ms. Steinfort’s estimate. The company is private and does not disclose sales figures. – – AdAge article by Emily Bryson York
What a great job! I can try and try and try until I get it right, because I don’t have to absorb the cost of my actions! The franchisees take all the grief. I get to sit in the VIP box at the Yankees games while those miserable blokes deliver sandwiches 24/7! The franchisees are simply collateral damage.
Question for Ms Steinfort: If stores go out of business selling a $5.00 sub, then how many more will go out selling a $4 sub? Let’s view Ms Steinfort’s experience/profile on LinkedIn:
When one scans education, it’s quite respectable (Princeton, Harvard Business), though still wet-behind-the ears on experience. But look a little further and you see Ms Steinfort came from Level 3 Communications claiming a title of corporate strategy, and it’s labeled as (Restaurants Industry). Folks, Level 3 is a telecommunications firm which barely survived the dotcom bust, the telecom meltdown (thanks to a billion dollar bailout by Warren Buffett). IT’S NOT in the RESTAURANT BUSINESS. Can you spell L-I-A-R? Does this speak volumes as to how desperate Quiznos is and how no one will work for them who does have a brain? Ms Steinfort has found a place to play with absolute immunity from prosecution! Obviously, she couldn’t make it in the telecommunications market as Level 3’s stock topped out at $120.00 about the time Ms. Steinfort started, immediately dropped below $10 in a freefall, never to recover. Today Level 3 is selling for a paltry $.95 (having realized a low of .76 the last 12 months).
So tell me people, wouldn’t you rather have someone selling your sandwiches whose background is in telecommunications? And wouldn’t you rather it be someone who ran the previous company into the toilet (stock prices from $120.00 to $.016!)? When is America going to wake up and realize that the franchisors and Madison Avenue are no different than Wall St., AIG or Bernie Madoff! They’re the elite and you, main street America are the idiots falling for the ruse! Prediction: Quiznos will continue to be the “Sprint” of sub shops without any hope of being purchased (there’s only one Wal-Mart folks). They will die a wikid slow death at the likes of boneheads like Ms. Steinfort and Mr. Schaden.
Bloody
Bloody Franchise 