Selling a Subway Franchise

Franchise Resale & M&A Advisory for Subway Franchise Owners

By Mercedes Shaffer, Managing Director | Highwater Partners

Selling a Subway franchise is a highly nuanced transaction that requires brand-specific expertise, disciplined valuation, and national buyer exposure. As one of the largest and most widely distributed franchise systems in the world, Subway resales involve heightened scrutiny from buyers, lenders, landlords, and the franchisor. Experienced M&A representation is essential to position the business correctly and execute a successful transaction.

At Highwater Partners, we specialize in franchise resale and M&A advisory for franchise owners, representing Subway franchisees across the United States. We advise owners on single-unit sales, multi-unit portfolio exits, and strategic divestitures, delivering a professional, highly structured process designed to maximize value and ensure transaction certainty.

True to our name, Highwater Partners serves clients at the highest level, combining disciplined execution with senior-level advisory and respect for the responsibility of representing a franchise owner’s business.

Why Selling a Subway Franchise Requires Specialized M&A Expertise

Subway franchise resales involve system-specific and operational considerations, including:

• Franchisor approval and formal transfer processes

• Buyer net worth, liquidity, and operational experience standards

• Brand compliance reviews and operational audits

• Lease assignment, landlord consent, and inline retail economics

• Market saturation, unit density, and competitive positioning

These variables directly affect valuation credibility, buyer qualification, financing, and transaction timelines. A general business broker may understand restaurants—but a franchise M&A advisor understands Subway.

How Subway Franchises Are Valued

Subway franchise valuations are driven by cash flow sustainability, operational efficiency, and transferability, not gross sales.

Key valuation considerations include:

• Seller’s Discretionary Earnings (SDE) or EBITDA

• Trailing twelve-month and historical financial performance

• Labor efficiency and food cost controls

• Lease terms, rent ratios, and remaining option periods

• Owner involvement versus manager-run operations

• Brand compliance and required reinvestment

At Highwater Partners, we apply M&A-grade financial normalization and valuation methodologies, ensuring the business is positioned credibly for qualified buyers and lenders.

Who Is Buying Subway Franchises Today

Active buyers for Subway franchises include:

• Existing Subway franchisees consolidating territory

• Multi-unit, multi-brand QSR operators

• First-time franchise buyers with operational support

• Strategic buyers acquiring established, recognizable brands

Through maximum listing exposure and targeted outreach, we ensure sellers reach the most qualified and motivated buyers nationwide.

National Exposure, Executed at the Highest Level

Highwater Partners is a national business brokerage and M&A advisory firm representing franchise owners and independent multi-unit operators across restaurants, wellness, fitness, beauty, and pet services. Led by a team of elite business brokers and franchise M&A professionals, the firm delivers maximum listing exposure, disciplined valuation, and transaction management at the highest level.

Highwater Partners delivers broad, national exposure through:

• A proprietary database of 100,000+ qualified franchisees and private equity investors

• A nationwide network of 110+ professional business brokers across the United States

• Direct outreach to active, brand-aligned buyers

• Professionally prepared marketing materials built for serious acquirers

Our approach balances maximum exposure with disciplined execution, ensuring sellers receive both attention and professionalism at the highest level.

Why Subway Franchise Owners Choose Highwater Partners

Franchise owners choose Highwater Partners because we provide:

• Top-tier professionals with deep franchise and M&A experience

• Brand-specific Subway resale expertise

• Institutional-quality valuation and deal preparation

• National buyer reach supported by a disciplined process

• A service standard rooted in operating at the highest level

• Professional, discreet representation from start to close

We are trusted advisors for franchise owners who value execution, integrity, and results.

Our Subway Franchise Resale Process

1. Confidential valuation and strategic exit planning

2. Professional CIM and transaction preparation

3. National buyer exposure and targeted outreach

4. Buyer qualification and franchisor coordination

5. Offer negotiation and deal structuring

6. Transaction management through closing

Every step is designed to protect value, reduce execution risk, and respect the responsibility of representing your business.

When Is the Right Time to Sell a Subway Franchise?

The strongest outcomes typically occur when:

• Cash flow is stable or improving

• Financials are clean and defensible

• Lease terms support buyer financing

• Management systems are in place

• Buyer demand is active

Preparation and representation often matter as much as timing.

Speak with a Franchise M&A Advisor

If you are considering selling your Subway franchise—now or in the future—begin with a confidential consultation.

Mercedes Shaffer

Managing Director | Highwater Partners

Call or text: 714.330.9999