ESTIMATED FRANCHISE CAPITAL REQUIREMENTS

Item Description 1. Franchise Fee 2. Training expenses (including travel and lodging) 3. Agents fees 4. Building consultancy 5. Solicitors fees 6. Fit Out* 7. Air conditioning** 8. 3-Phase electrical supply (if required) 9. Extraction*** 10. H&K equipment (furniture&uniforms) 11. Refrigeration 12. Signage 13. Coke machine 14. Coffee machine 15. POS System/CCTV 16. Intruder alarm 17. Insurance 18. Opening inventory 19. Store staff training 20. Pre-opening pack 21. Opening advertising 22. Computer, scanner, fax and Misc. ESTIMATED TOTAL INVESTMENT 29,000 8,000 4,000 5,675 3,995 6,000 900 950 2,500 1,350 255 1,000 2,000 157,425 2,000 Net Cost () 8,500 2,000 6,000 2,800 3,500 69,000

Notes: * Fit-out cost can vary depending, amongst other things, on the size and condition of the location. ** Air conditioning and Extraction costs are not included in the above and can vary with the size, configuration & classification of the location. A cost range of about 16,000 and 22,000 will be incurred. A credit check against legal entity and on referal may require bond placement (circa 3,000 - 6,000) to food supplier before trading. Bond amount also depends on level of trading. Equipment leasing programs are available subject to status and conditions. Some of the above costs will vary in relation to the physical size of the store. A lower cost store is one that would require less leasehold improvement, less seating and less equipment expenditures. Moderate and higher cost stores may require extensive interior renovations, extensive seating and additional equipment. If you are purchasing a franchise for another location opportunity, such as non-traditional or satellite locations, the above listed capital requirements may vary and could be substaintially lower depending upon the necessary equipment you must acquire or changes in leasehold improvements you must make. The above figures do not include extensive exterior renovation. Costs do not include rent deposits, stamp duty, or other working capital. THE FIGURES CONTAINED HEREIN ARE ONLY ESTIMATES OF THE COMPLETE INVESTMENT IN SETTING UP A SUBWAY STORE. SUBWAY, GENERAL FOODS LTD. OR ANY OF THEIR REPRESENTATIVES, AFFILIATES, OR ASSOCIATED ENTITIES ARE NOT LIABLE IF COSTS ARE SIGNIFICANTLY EXCEEDED IN ANY OF THE AREAS LISTED ABOVE.

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