Final answer:
A franchise is a company that offers similar products or services in many locations. In 2011, Subway was one of the top 10 fastest-growing franchises.
Step-by-step explanation:
A franchise is a business model where a company, known as the franchisor, grants individuals or entrepreneurs, known as franchisees, the right to operate their own business using the established brand, products, and services of the franchisor. Fast food giants like McDonald's pioneered this model, allowing individuals to purchase the rights to operate a McDonald's restaurant and sell its products. This approach facilitated the rapid expansion of McDonald's and other fast food chains.
In 2011, Subway emerged as one of the top 10 fastest-growing franchises. Subway's success can be attributed to its affordable prices, customizable menu options, and widespread presence. The franchise's focus on offering healthier fast food alternatives, such as submarine sandwiches, resonated with consumer preferences. This, combined with the franchise model, contributed to Subway's significant growth and prominence in the fast-food industry during that period.