But even if potential franchisees can come up with the $180,000 to $280,000 needed for seed money, it doesn’t necessarily mean they meet all the qualifications for owning a store, according to Larsen.

“We turn down about 70 percent who apply,” he said.

While many people want to go into business for themselves, not everyone has what it takes to be successful.

For Port of Subs, owners need to fit into the corporate structure and be willing to work as a team, Larsen emphasized.

“I consider Port of Subs my extended family,” explained Peper Quirion, who has been a Port of Subs owner/operator in the Reno-Sparks area for seven years. “I’m very close to everyone at corporate.”

For those owners who do make the grade, they become part of a highly supportive, progressive team whose mission is to help franchisees be successful.

“My primary goal is for my franchisees to make money,” Larsen emphasized.

After 30 years at the helm, Larsen has fine-tuned his corporate style to be what he considers the most efficient way to run a franchise business the size of Port of Subs.

To begin with, the corporation always has owned stores, which he said brings corporate into the trenches to test new ideas and understand trends, while giving franchisees the assurance that corporate also has its skin on the line.

Company officials said they expect to increase corporate ownership from more than 20 stores to around 50 with the new expansion.

Because Port of Subs derives substantial revenue from its corporate stores, the company can afford to charge franchisees only a 6.5 percentage royalty fee, compared with the approximately 11 percent or 12 percent charged by Subway or Quiznos.

“I make a lot of money out of the company-owned stores,” Larsen said.

True to his conservative accountant background, he’s a firm believer in investing in his own company

“My company is very financially strong because I leave money in it for growth,” he said.

Part of that war chest will be used in the expansion, which Larsen believes is necessary to update his business.

Larsen also strives to hire people who have new ideas.

One of these is his daughter, Lisa Moore, who was educated at the University of Nevada, Reno, and serves as the company’s CFO.

“We need fresh eyes all the time,” he said.

Successful companies need to be quick to respond to new tastes, he added.

“If you fail to evolve, you die,” the executive said.

The evolution of the fast-food industry has been toward a healthier product in recent years.

As many people’s tastes have moved away from foods high in calories and fat — such as hamburgers and Mexican food — Port of Subs has been positioned perfectly with its sliced fresh sandwiches, wraps and salads, officials said.

Not only are the ingredients healthier, but the product is made to order while the customer watches.

“We really do slice it right in front of them,” Crisologo said.

Many customers cite the freshness of the ingredients as the main reason they go to the restaurant.

“The food just tastes better because it’s always fresh,” said Preston Darrough, a 25-year-old computer operator who has frequented Port of Subs since he was a kid.

Nicole Brown, a 24-year-old district manager for a mining company, agreed.

“They make the best sandwiches because everything is fresh and not packaged,” Brown said.

Store owners echoed the sentiments of their customers.

“When the public comes in, they know they’ll get a great sub sandwich,” said Dod Pittman, owner/operator of units in both Reno and Las Vegas.

But according to Larsen, it isn’t just the superior product, but also the service that makes or breaks a restaurant.

“If you get bad service, I don’t care how good the food is, you won’t be back,” he said. “Today’s winner is the one that provides the best service.”

Providing jobs for almost 2,000 employees, the first 30 years for Port of Subs has been bright and profitable.

Despite long hours and frustrating challenges in retaining employees, store owners said they are buoyed by increasing profits.

“My sales have tripled in the last five years,” Quirion said.

Pittman echoed with his own success.

“Since I started, my business overall has doubled,” he said.

So what does the future hold for this locally bred franchise made good?

Don’t look for its symbol on the New York Stock Exchange — ever, according to Larsen. In spite of receiving calls every week about public offerings, he intends to continue controlling it as an S Corp.

“I won’t take my company public because I’m an entrepreneur,” he explained. “I just couldn’t deal with Wall Street.”

But do look for Port of Subs in ever-broadening markets. In addition to expansion in its existing six states, future units are planned for Hawaii.

Nontraditional locations in such sites as airports, schools, hospitals, big-box stores and public buildings will be expanded, along with the company’s catering service.

For those who have their livelihood on the line, this Little Engine That Could is making profitable progress.

“There’s a lot of potential in Arizona,” said Tom Hageman, owner of two units in that state. “We’re definitely headed in the right direction.”

Ever the upbeat entrepreneur, Larsen minces no words:

“We truly have a chance to be No. 1 in our market segment,” he said.’