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QIP Holder, LLC, doing business as Quiznos, is a franchised fast-food restaurant brand based in Denver, Colorado that specializes in offering toasted submarine sandwiches.It was founded in 1981 by Jimmy Lambatos and sold to Rick and Richard Schaden ten years later, before growing to nearly 5,000 restaurants afterwards.After spending ,000 in personal savings to keep the stores running, he realized he had a debt of 0,000. "Customers used to come into the store and say to me, 'You must be rolling in the money,'" recalled Mr. "If they only knew." It has faced more lawsuits from franchisees than bigger chains, such as Mc Donald's, Burger King, Wendy's, and even its sandwich competitors Subway and Blimpie, according to an analysis by the legal research firm Thomson West.
Quiznos is the second-largest submarine sandwich shop chain in North America, behind Subway.
Heating anything brings out the flavors in food products." The franchises were offered under the name Quiznos American, Inc.
By 1987, 12 Quiznos restaurant locations were operating in the United States.
As a single example of an unprofitable franchise, Fredrick N.
Westerfield was running three Quiznos in Wisconsin.