Quiznos

Quiznos is the trading name of QIP Holder, LLC, a fast-food submarine sandwich restaurant based in Denver, Colorado. The restaurant currently has locations in North America, South America, and Asia. Though its journey has been quite eventful, it has grown to become a favorite for many submarine sandwich lovers.

A brief history of Quiznos

Quiznos was founded in 1981 by an experienced chef Jimmy Lambatos and his partner Todd Disner. This restaurant has changed ownership several times during its 38-year history. Precisely, just 10 years after its inception, Rick and Richard Schaden acquired it from Jimmy Lambatos. In 1994, it issued an initial public offering that went well and growth and expansion continued, hitting a massive 278 locations in 1997. Four years later, the restaurant was delisted, going back to square one. However, growth didn’t stop, the ship had already left the docks and there was no turning back. In a short while, several franchised locations were opened in Canada, Mexico, and the UK. The growing trend didn’t last, as later in its life, Quiznos had to be bailed out by Avenue Capital Group at its dying moments. It still went into bankruptcy though, but there was light at the end of the tunnel when it was acquired by High Bluff Capital Partners in 2018.

The rise and fall of Quiznos

From humble beginnings, Quiznos grew faster than anyone had anticipated. People liked the toasted subs that had a unique taste. Quiznos menu prices were also in line with the customers’ reasonable expectations. The restaurant thus developed a huge following in a short while. In fact, at some point, its growth rate was alarming. Franchising began in 1983 when the growth rate could no longer be contained. The number of locations that sprung up after the franchising business raised shockwaves in the submarine restaurant sector. Indeed, when its locations hit the 5000 mark, only Subway was larger than it in the submarine sandwich business.

Finally, Quiznos bubble burst. The closure of 1000 Quiznos US stores was the first red flag. Bad times were to follow as other 2000 locations were also closed. As if that was not enough, several other locations were also shut down, and at some point, it looked like Quiznos was going to wind up. However, it stabilized at 800 locations. These are the locations that are up and running currently.

Quiznos mainly serves submarine sandwiches and salads. Some of its most popular meals include lobster & seafood classic, tuna melt, veggie guacamole, and the Baja chicken sub. Its menu has continued to develop in order to meet the needs of the modern customer. A case on point, when Avenue Capital Group bought a majority of Quiznos shares in 2012, it came up with a strategy of enhancing the quality of food in order to stop the downward trend growth. This strategy worked to some extent, and though the Quiznos menu prices have changed over time, they have remained customer-friendly.

Overall verdict

In summary, the fans of toasted submarine sandwiches have something to smile about Quiznos. Though it has had its fair share of ups and downs, this restaurant is still serving the foods that we like. The quality of its meals is still unquestionable. Moreover, Quiznos menu prices are everything that you would expect. Indeed, at this rate, this restaurant will soon go back to its very best.