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    Franchise opportunities compared

    Subway vs Thai Express

    Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.

    Subway2026 FDDTEThai Express2026 FDD

    Initial investment · Item 7

    Subway

    $227,000 – $458,000

    2026 FDD · Item 7

    Thai Express

    $494,050 – $532,400

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    Subway

    $15,000

    2026 FDD · Item 5 · PDF p. 29

    Thai Express

    $30,000

    2026 FDD · Item 5 · PDF p. 30

    Royalty · Item 6

    Subway

    8%

    2026 FDD · Item 6 · PDF p. 36

    Thai Express

    18%

    2026 FDD · Item 6 · PDF p. 38

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Subway and Thai Express disclose more than one business format, so the investment range spans formats; the full report breaks them out.
    • Only neither brand has reviewed Item 19 figures here.

    Financial commitment

    Estimated initial investment (Item 7)

    Subway

    $227,000 – $458,000
    2026 FDD · Item 7

    Thai Express

    $494,050 – $532,400
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    Subway

    $15,000
    2026 FDD · Item 5 · PDF p. 29

    Thai Express

    $30,000
    2026 FDD · Item 5 · PDF p. 30
    Royalty (Item 6)

    Subway

    8%
    Royalty fee
    2026 FDD · Item 6 · PDF p. 36

    Thai Express

    18%
    Breaching Royalties: for percentage-based royalties, up to 18% of Gross Sales during any period of franchisee breach or default, without advance notice or right to cure; franchisor may instead charge the greater of three times the fixed Royalty fee. Breaching Royalties apply for at least 14 days.
    2026 FDD · Item 6 · PDF p. 38
    Brand / advertising fund (Item 6)

    Subway

    4.5%
    Advertising fee — 4.5%
    2026 FDD · Item 6 · PDF p. 36

    Thai Express

    4%
    Marketing Fund Contributions may be increased to 4% of Gross Sales only if at least 75% of franchisees in the system at the time vote in favor. — 4%
    2026 FDD · Item 6 · PDF p. 36

    System scale & health

    Total outlets (Item 20)

    Subway

    18,773
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 94

    Thai Express

    Not available
    No reviewed outlet counts
    Net outlet change (Item 20)

    Subway

    −1,360
    Calculated: 20,133 at end of 2023 → 18,773 at end of 2025

    Thai Express

    Not available
    Only one year reported
    Outlet exits (Item 20)

    Subway

    Not available
    No complete exit records for a year

    Thai Express

    Not available
    No complete exit records for a year
    Franchising since (Item 1)

    Subway

    Not available
    Not in reviewed records

    Thai Express

    Not available
    Not in reviewed records
    Franchisor founded (Item 1)

    Subway

    Not available
    Not in reviewed records

    Thai Express

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Subway

    Not disclosed — no Item 19 financial performance representation

    TEThai Express

    Not disclosed — no Item 19 financial performance representation

    Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.

    Subway vs Thai Express: common questions

    Which costs less to open, Subway or Thai Express?
    Subway: $227,000 – $458,000 (2026 FDD · Item 7); Thai Express: $494,050 – $532,400 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Subway. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    How do Subway and Thai Express royalties compare?
    Subway: 8% (2026 FDD · Item 6 · PDF p. 36); Thai Express: 18% (2026 FDD · Item 6 · PDF p. 38). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Do Subway and Thai Express disclose financial performance (Item 19)?
    Subway makes no Item 19 financial performance representation; Thai Express makes no Item 19 financial performance representation. Different location groups are not directly comparable, and revenue is not profit.

    Answers restate the reviewed figures above. Not a ranking or recommendation.

    How Franopolis reviews FDD figures

    Keep researching

    Full Subway report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    TE

    Full Thai Express report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

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    FDD glossary

    Plain-language meaning of each Item