Subway Restaurants is returning to Israel after a hiatus of several years. The sandwich chain has rented a 130-square meter restaurant in Beit Corex on Maskit Street in Herzliya Pituah will pay NIS 130 per square meter per month in a five-year lease with a five-year option to extend.
Subway's previous Israeli franchisee had 21 restaurants in Israel before it closed down. The new franchisee, Gur Gal, previously served as manager of the Royal Tulip Hotel in Eilat, owned by Fattal Hotel Management Ltd.
Gal said that he plans to open 130 Subway restaurants nationwide, and was currently in talks to rent a 100-square meter restaurant on Rothschild Boulevard in Tel Aviv.
Gal said, "Beit Corex is located in the high-tech area of Herzliya Pituah, where there is a suitable target audience for Subway. We conducted market research, which found that most of the people in the high-tech area of Herzliya Pituah know about the brand."
Subway, founded in Connecticut, currently has 31,000 branches in 90 countries worldwide.
Published by Globes [online], Israel business news - www.globes-online.com - on May 10, 2009
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