This doesn't surprise me much. My town alone has 4-5 (i forget exactly) Subways, the first one opening in 1988, and there are more where that comes from at other locations surrounding me. At one time Subway was also cheaper to get started up over McDonalds....I'm speaking of franchise, equipment, ingredients, and other fees (most Subways lease for dirt cheap in corner neighborhood strip malls and are also in many Walmart stores) and whatnot. Not sure how it is nowadays.
I do like their sandwiches though, and I never used to eat subs much if at all. Really though, I can fire off a bunch of other places in my area alone (fast, casual or sit-down) that beats McDonalds much of the time. McDonalds is fine for a quick pick-up meal, but aren't usually my first choice any more.