Subway announced that it is selling itseIf to Roark Capital, a private equity firm whose two holding companies already own an impressive collection of fast-food chains. Roark-owned brands include Dunkin’, Carvel, Jimmy John’s, Arby’s, Cinnabon, and Buffalo Wild Wings–and that’s just a partiaI list.
Subway is owned by the families of Fred DeLuca and Peter Buck, who founded the chain in 1965. At the time, Buck was 34. DeLuca was 17 and trying to raise money for college. Buck Ient him $1,000 and suggested they start a sandwich shop.
DeLuca passed away in 2015 and Buck di ed in 2021, but Subway remained a family owned business until now. It must have been a wrenching decision to give up ownership of the chain. But however they may feel about it, the families seem to have negotiated the best possibIe deal for the chain. Every business owner looking to sell can learn from their approach.
Our story begins back in February, when the families hired JPMorgan Chase as an adviser to explore a sale. At the time, the families reportedIy wanted $10 billion for one of the world’s two largest fast-food chains.
But it’s been a bad year for acquisitions so far, and some observers noted that the chain has been losing ground to newer rivaIs such as Firehouse Subs in recent years. With its shares of U.S. sandwich sales down from 34 percent in 2017 to 23 percent today, some questioned whether Subway was really worth $10 billion.
It’s on her hands!
When you’re on a record-breaking world tour, you have to keep performing even if you feel like you could get a cold. Taylor Swift showed her professionalism over the weekend as she handled a runny nose during her performance in Edinburgh.
Taylor Swift’s Unstoppable Performance in the Cold
The Pennsylvania-born pop singer was seen blowing into her fingers several times during the Scottish event before smearing it over her sparkling frock. This occurred on the first leg of her UK tour. The 34-year-old Taylor Swift’s three performances at Murrayfield Stadium last weekend drew almost 219,000 spectators.
The frigid air in the stadium did not help the singer’s plight, even though summer is just a few days away. Particularly when the pop star was seen wiping her nose while playing the smash song “Don’t Blame Me,” some have blamed the incident on the cold. The temperature fell below 46.4 degrees Fahrenheit on the night of the show. In the video, the singer can be seen pumping snot into her palms, letting it drip, and then wiping it on her skirt.
Different Reactions from the Viewers
Some fans have even accused the musical sensation of flicking mucus in their way while she braved the conditions that turned her nose red. Many on social media expressed their disgust, despite the fact that several people offered their sympathies. Someone said, “Taylor Swift blew her nose and snot on her skirt on stage.” Additionally, fans have seen Taylor licking the snot out of her nose.
Another person looked horrified and yelled, “Someone please give Taylor Swift some tissues.” I’ve observed her clean her nose with her hands so many times in the previous few days that it’s absurd. I get that she’s performing, but there has to be a method to make sure she always has Kleenex.
Help from a Select Group of Fans
However, other people backed Taylor Swift with the remark, “I’m not even a Swiftie, but I seriously don’t get why anyone would be mad or disgusted by someone wiping their nose.” Really, people? What was she supposed to do? Even if it’s unlikely that she had a tissue close by, at least she wasn’t wanting snot all over her face.
The UK Tour Continues
Taylor Swift gave three performances in Edinburgh to kick off the British singer’s tour. Eight nights at Wembley and evenings in Cardiff and Liverpool will follow. where 720,000 fans will be present alone in London. Following the European tour, Taylor will make nine more stops in the United States, including Miami, New Orleans, and Indianapolis. 53 US dates have already been completed by her. She has committed to performing in fifty cities across Europe.
Fan Loyalty and Its Impact on the Economy
Several ardent Taylor Swift admirers began to create lines 48 hours before the celebrity even made it to the city for her tour. A whopping 220,000 individuals are waiting impatiently to see and buy things. However, a lot of individuals in Edinburgh had trouble getting housing due to the quick reservations made for hotels. Despite charging three times as much for the superstar’s three-night stay from June 7 to June 9.
Her Eras tour is predicted to boost the British economy by about £1 billion. Apart from the ticket price, supporters are required to cover the expenses for accommodation, travel, a pre-concert meal, and official merchandise. Many will also buy new clothes specifically for this historic occasion. According to research, each Swiftie who sees their idol perform live in the UK will pay, on average, £848.
Ticket Controversy: Excessive Demand Worldwide
Since her Scottish premiere this past weekend, UK fans have been grumbling about how tough it is to get tickets. This is a result of Americans buying UK television series. Fans expressed their dissatisfaction with some of the guests’ flights on social media after the performance, given that the artist hasn’t performed in Scotland in eight years.
Americans countered that they couldn’t get tickets in their state and remarked that dates in Europe are far less expensive because of the strong currency. 4.35 million tickets have been sold to Swiftie fans worldwide, but due to the extremely high demand, fans have had difficulty obtaining tickets to shows.
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