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Fred DeLuca Bio, Founder of Subway

In 1965, Fred DeLuca borrowed $1000 from a family friend to open his first sandwich shop in order to raise money for college. He was only seventeen at the time, and Dr Peter Buck was the de facto co-founder, so they called the shop Pete's Submarines, for the submarine sandwiches they sold. Upon realizing that in the radio ads, "Pete's Submarines" sounded like "Pizza Marines," DeLuca changed the name to "Pete's Subway," which was eventually shortened to "Subway" when they opened new franchised locations.

The "assembly line" style pioneered by McDonald's was combined with a made-to-order approach, and as with other fast food restaurants, Subway kept the food preparation area visible to the customer. Over time, the company grew to over 25,000 franchises in 84 countries, and that initial $1000 investment has made DeLuca one of Forbes' richest Americans, with a net worth of $1.5 billion.

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