In 1965, 17-year old Fred DeLuca borrowed $1,000 from a family friend, Dr. Peter Buck to open a fast-food venture that could eventually support DeLuca’s plan to study medicine. Initially named Pete’s Submarines in radio promotions, DeLuca finally named it Pete’s Subway (Pete being the $1,000-dollar lender).

The name got shortened to “Subway” in 1968. With time and after a few hiccups, the business finally took off and in 1978, the 100th Subway was opened and by 1987, Subway had reached the 1,000 store mark.