Quiznos has announced The New Quiznos (TNQ), a comprehensive guest experience remodel and brand update planned for stores systemwide. The chain also launched an accompanying TNQ Capital Loan Program to lend financial support to its franchise owners, providing necessary capital that may otherwise be difficult to secure in the current lending environment.
Quiznos founder and CEO Rick Schaden developed TNQ and the TNQ Capital Loan Program in response to the sluggish performance of small business loan programs, according to a company news release.
"We have been able to accomplish what others have not been able to accomplish, securing capital for our small business owners at a time when there is very little access to such funds," Schaden said. "Now is the time to invest in our brand, our stores and our franchise owners in order to be prepared for the new economy and remain an industry leader."
The TNQ Capital Loan Program provides Quiznos' franchise owners access to funds at more favorable rates and terms than traditional lending in order to implement The New Quiznos.
TNQ was designed as a fully-integrated store solution, combining all aspects of store look and feel, design and overall modernization to keep Quiznos restaurants at the cutting edge of service and operations. TNQ also will serve as a platform to launch new products, product lines and consumer options.
The plan also provides extensive in-field training and best practices sharing among franchise owners to ensure each store has the tools and support to provide a superior, consistent customer experience across the brand.
In addition to TNQ and TNQ Capital Loan Program, Quiznos introduced a lease renegotiation program and microloan initiative earlier this year to improve franchise owner profitability.
