Businesses are continuously trying to come up with recurring revenue streams.
Whether it's streaming audio, software as a service or even clothes shopping, if you can think of something, there is probably a subscription for it.
DON'T MISS: Subway Puts a Popular Taco Bell Deal on the Menu
The trend has been experimented with in the restaurant industry as well. Over the last year, we’ve seen Sweetgreen (SG) launch a salad subscription, while Yum! Brands (YUM)-owned Taco Bell had a taco pass that allowed holders to get a taco a day for $10 month.
Coffee memberships are common as well. Panera, Restaurant Brands International (QSR)'s Burger King and Dunkin’ have all experimented with the concept.
In the summer of 2022, privately-held sandwich chain Subway also tried to join in on the subscription game, with a twist.
Available for purchase in summer, the $15 Footlong Pass gave holders 50% off full-size Subway sandwiches throughout the month of September.
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The pass went on sale at the end of August and was available for the first 10,000 people who bought it. Subway called the subscription a success (all 10,000 passes sold out within six hours) but has not, up until now, reinstated the program.
The Subway Sandwich Subscription Is Back Again
On March 17, Subway announced that it is once again bringing back the Footlong Pass amid popular demand. The $15 for 50% off concept remains unchanged but the pass will now be available throughout the month of April.
Sales of the pass open at 8 a.m. ET on March 21 and, this time, there are 250,000 passes to go around. To claim the pass, buyers need to be a MyRewards member, but it’s as simple as singing up to the loyalty program online or through the app.
The pass is once again a limited-time promotion that may or may not come back again at some point once the month of April is up.
“Subway’s inaugural Footlong Pass showcases all of the things our fans crave from Subway: our footlong subs, everyday value and, of course, exclusive perks for loyalty members,” Barb Millette, Subway’s senior director of loyalty & gift cards said in a statement. “The first 10,000 passes sold out in a matter of hours, and while we have 250,000 available this time around, we expect them to go very quickly.”
Subway Sale Talk Getting Louder
Also in Subway news, the chain has recently been in the news for a potential sale.
In January 2023, sources with knowledge of the matter first told the Wall Street Journal that a number of “corporate buyers and private-equity firms" were eyeing a deal that could be worth up to $10 billion.
With a deal yet to materialize, the gossip has largely died down but it’s likely to come given that co-founder Dr. Peter Buck passed away in 2021 while other co-founder Fred DeLuca had died earlier in 2015.
After former Burger King chief executive John Chidsey became the first person outside the family to lead the chain in 2019, Subway struggled to chart a new path even as the brand remains strong.
It went from 27,000 stores in 2015 to 21,000 in 2023 and has significantly revamped its menu to shorten the amount of time customers spend waiting in line.
Should the sale go through, it would be the largest fast-food sale since Sandford, Georgia-based Inspire Brands bought doughnut chain Dunkin' for $11.3 billion in 2020.
