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Seventeen year old Fred DeLuca received a loan from a family friend for one thousand dollars, and opened the first Subway in Bridgeport, Connecticut. The store name was not Subway but Pete's Super Submarines named after the family friend that gave Fred DeLuca the loan (www.entrepreneur.com).
Pete's Super Submarines was changed to the current name of Subway in 1974 (www.entrepreneur.com). Fred DeLuca wanted to expand and open more locations, he had a set goal of opening 32 shops with in ten years. By 1974 DeLuca owned and operated sixteen locations around Connecticut. DeLuca was just at the halfway point of his goal of 32 shops in ten years...
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