1542 Jane Street Toronto

A Subway restaurant in Toronto is for sale for only $1

For over 10 years the Subway at 1542 Jane Street has been a staple at the Denison Plaza but just two days ago it was listed for sale for $1

Now before you get upset, it's not actually the property that's for sale. 

It's the Subway franchise that's for sale which is good news for anyone who doesn't want their favourite sandwich spot to disappear. 

However, franchises that are up for sale aren't usually posted to a real estate site. 

There are definitely better ways to sell the rights to a franchise location but Gurvir Dhillon, who's the realtor, told blogTO he's just doing this as a favour for the owners who happen to also be his family.  

"They are my relatives and they told me to sell it; so I'm selling it," he said, explaining that they want to try something new. 

As for the listing price of $1, Dhillion explains it is just a marketing tactic.

"It's to reach more people and get more interest," he said, adding that the owners are actually hoping to get about $350,000 for it. 

With the purchase of the franchise you get all the contents of the restaurant, including fridges, ovens, signs and yes, even that soda machine. 

The running costs of the franchise include approximately $5,050 in monthly rent plus HST and rent includes utilities.

As for how much you could make by running this Subway location – well based on a quick Google search estimates profit between seven to 20% of the sales.  

However, this may be based on new franchises who aren't established in the community so you could potentially be looking at the higher end of profit for this location. 

Or it might be as Michael Chanway, a user on a Quora form, suggests: "It's the best way to own your own minimum-wage job".

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