Whether you’re in the mood for a classic sub like the Original Italian or something a little more unique like the Turkey Breast & Provolone, Jersey Mike’s has something for everyone. And if you’re looking for a healthier option, they offer a variety of wraps and salads as well.No matter what you’re in the mood for, Jersey Mike’s Subs is sure to hit the spot. So why not stop by today and read this post on Jersey Mike’s Subs franchise opportunity,know on cost,fee,requirements,systems,reviews,rankings and owner salary and profit.
What is the Jersey Mike’s Subs ?
Jersey Mike’s Subs is a fast-casual sub sandwich chain which has more than 2,300 locations nationally; this holds the view that creating a sub sandwich and affecting change may go hand in hand. The original 1956 recipe is still used by Mike’s Sub Above, which serves real fresh sliced or fresh grilled subs on freshly baked bread. The hypothesis appears to be correct.
Jersey Mike’s is s a popular sandwich chain which was founded in 1956 in Point Pleasant, New Jersey. Manasquan, New Jersey serves as its current administrative headquarters. Since then, the company has expanded its business to thousands of locations around the country. Jersey Mike’s offers sandwiches that are made with premium, fresh ingredients as its specialty.
Is Jersey Mike’s a Franchise Opportunity?
Yes, Jersey Mike’s is a franchising opportunity. Giving franchises of subs.
Jersey Mike’s is a popular sandwich chain across the country. Jersey Mike’s, which was established in New Jersey, is most known for their submarine Philly cheesesteak-style sandwiches created with freshly sliced meats and cheeses and served on soft, just-baked white and wheat bread.
The very first Jersey Mike’s restaurant opened in 1956 in In Point Pleasant, New Jersey. Since then, the business has continuously grown through both corporate-owned stores and franchising. Currently, there are 48 states where Jersey Mike’s restaurants may be found, with the highest concentrations being in Florida, Texas, North Carilona, California, and New Jersey.
Facts That Nobody Told You About Jersey Mike’s Subs
Employees at Jersey Mike’s Subs make fresh and authentic breads everyday. They also donate sandwiches and bread to those in need and as charity.
The company has raised a considerable amount of money for charity.
There are more Jersey Mike’s Subs locations in California that any other state.
Their sub once made appearance in a Jennifer Lopez video.
They donated money for the training of a service dog called Jersey.
Employees are required to go through rigorous training.
Jersey Mike’s Subs Franchise Review and Information
Jersey Mike’s Subs Franchise Requirements and Application
The franchising requirements to become a successful franchise owner of Jersey Mike Subs are
Initial franchise fee: $18,500
Initial investment: $144,668-$786,233
Net worth: $300,000
Cash requirement: $100,000
Further, the royalty fee and advertising fee to become a franchisee is 6.5% and 1% respectively.
How much does a Jersey Mike’s Subs franchise cost
A Jersey Mike’s Subs franchise can cost between $144,668 and $786,233 as an initial investment. Jersey Mike’s deducts a royalty fee of 6.5% and an advertising fee of 1% from gross sales. You will also require enough cash to pay for the price of rent, supplies, and equipment.
However, Jersey Mike’s is a fantastic choice for a person who is looking for a fantastic fast-food chain. It has grown to be a well-known option for anyone wishing to open their own sandwich shop with more than 2,000 sites around the country.
How much does it cost to franchise a Jersey Mike’s Subs in the United States?
Jersey Mike’s Subs Franchise Startup and On-going Franchise Costs
Jersey Mike’s Subs Franchise Fee
Jersey Mike’s Subs Franchise Cost
Term of Agreement
Is the franchise term renewable?
Jersey Mike’s Subs Training to Franchises
Before the franchised restaurant is put into operation, the franchisor will train the franchisee if:
They are an individual
Their designated manager or a controlling principal
An entity (Trainee 1)
The designated assistant manager (Trainee 2)
The designated shift supervisor (Trainee 3)
The following training requirements apply to franchisees starting their first franchised restaurant:
3 individuals (Trainees 1,2, &3) have completed Phase 1
1 individual (Trainee 1 or 2) has completed Phase 2
2 individuals (Trainees 1 & 2) have completed Phase 3
In addition to this, Trainees 1 and 2 will be expected to show up and take part in the opening of a different restaurant.
Phases 1 (180 hours) and 3 (180 hours) each include a minimum of eight weeks of on-the-job training in a restaurant chosen by the franchisor. Phase 2 entails classroom and simulation training that lasts for a minimum of five days and a maximum of 14 days at the franchisor’s training facility in Point Pleasant, New Jersey. The daily training time ranges from 4.25 to 9.5 hours.
During the first month of business, the franchisor shall assign one of its representatives to the Jersey Mike’s restaurant for a least three calendar days (eight hours each day). Refresher training courses may be offered by the franchisor, to be held at the corporate office or another venue of their choosing.
Jersey Mike’s Subs Franchising Operations
The franchisor offers franchises for the operation, development, and establishment of restaurant facilities for the on-premises and off-premises consumption of an extensive variety of made-to-order submarine sandwiches, other sandwiches, and related food and beverages.
How is Jersey Mike’s Subs Territory Granted to Franchises
Only the location mentioned in the franchise agreement is where franchisees are allowed to run the franchised business. The franchisor and its affiliates will not help empower or run a company-owned or franchised Jersey Mike restaurant within the franchisee’s designated area as specified in the Franchise Agreement so long as the Franchise Agreement is in force and the franchisees are not in default.
The franchisor and its affiliates will not help empower or run a company-owned or franchised Jersey Mikes restaurant within the franchisee’s designated area as specified in the Franchise Agreement so long as the Franchise Agreement is in force and the franchisees are not in default.
Within the defined territory, the franchisor reserves the right to set up company-owned or franchised restaurants in non-traditional locations such as airports, hospitals, military installations, stadiums, casinos, malls, national parks, theme parks, arenas, hotels, and schools. The approved area normally extends 0.5 to 1 mile from the franchised restaurant’s entrance. Franchisees are not given an exclusive territory.
What is Jersey Mike’s Subs Franchise Term of Agreement and Renewal?
The original franchise term lasts for 10 years starting on the date the Franchise Agreement is signed. Franchisees can extend their agreement for a period of 10 years if they have successfully fulfilled all of the clauses present in the franchise agreement.
Does Jersey Mike’s Subs provide Financial Assistance to Franchises?
In most circumstances, a franchisee’s note, lease, or other obligation is not guaranteed by the franchisor, and neither is the franchisor’s direct or indirect funding. However, as a component of the Coach Rod Smith Program, JMFS tends to offer loans to participants to cover the capital expenses related to opening restaurants. Location-specific finance amounts will differ.
Managers of currently operating Jersey Mike’s restaurants who are nominated by senior JMFS management will be eligible to apply for the Coach Rod Smith Program. It will not be possible for every nominee to take part in the Coach Rod Smith Program. Individuals shall be chosen by JMFS at its exclusive discretion.
The repayment period for financing will be five years if franchisees who are chosen by JMFS for the Coach Rod Smith Program decide to take part. Jersey Mike’s is registered on the Franchise Registry, so applicants will experience accelerated loan processing through the SBA if they are looking to obtain a loan guaranteed by the United States Small Business Administration.
Pros & Cons of owning a Jersey Mike’s Subs franchise
Provides adequate training
Always use premium quality products
Pay $75 per hour plus expense
High competition level
Late fee charges
No veterans discount
How much do Jersey Mike’s Subs franchise owners make?
Initial midpoint investment
% Profit margin of average franchise sales
Time to recoup the investment
The restaurant industry offers a very promising return on investment.
In the best-case scenario, a Jersey Mike’s franchise can recover for itself in three years, but if profitability is only 10%, it could take as long as five years to recover your investment.
What is Jersey Mike’s Subs franchise profit?
Even though there are no official numbers, there are approximations. The average annual sales per store are estimated to be $1.3 million. As always, conduct thorough research and consult with current owners to obtain a whole financial picture.
All Jersey Mike’s Subs franchises are run by Sub Above LLC, which had a profitable year in 2020 with a net income of 101.8 million. Because Sub Above LLC was only given financial data for one single week in 2019 and was no longer the franchisor, there is a significant difference in net incomes between 2019 and 2020.
Looking at Sub Above LLC’s 2020 financials, however, reveals that the company has a very healthy profit margin, with revenues of $124 million and costs of just $2.4 million. A Sub Above LLC ended the year with $8.07 million in cash, an increase of 6% from the $7.6 million it had at the same time the previous year.
However, as 2019 only compiled financial data for one week, certain data cannot be directly compared between 2019 and 2020. $107.2 million was distributed to members in 2020. The fact that they only retained $480,000 of the $107.7 million they made from operating activities shows how well the company’s finances are doing.
What are Jersey Mike’s Subs franchise reviews?
Jersey Mike’s Subs offers real, fresh subs that are delivered with a side of friendly banter from their hardworking, vivacious staff. That combination is now challenging to pass up! Jersey’s Mike, with the freshest vegetables such as onions, lettuce, and tomatoes, and their Juice, an exquisite zing of red wine vinegar and olive oil combined to perfection, serve real fresh sliced or grilled subs.
They only utilise premium meats and cheeses that are freshly baked in the restaurants during the day, sliced on the spot, and stacked high. Everything is rapidly produced to order for each client, just as it was done at the original Jersey Mike’s more than 65 years ago with the creation of the first subs.
Jersey Mike’s Subs Franchise Rankings
Franchise 500 Ranking
In sandwiches: Submarine Category
Fastest-Growing Franchises (US & Canada)
(Submarine Sandwiches) Best of the Best
(submarine Sandwiches) Top Food Franchises
Franchise Deck Analysis and Overview
Jersey Mike’s Subs is a fast-casual sub sandwich chain that has more than 2,300 locations nationally; this holds the view that creating a sub sandwich and affecting change may go hand in hand. The original 1956 recipe is still used by Mike’s Sub Above, which serves real fresh sliced or fresh grilled subs on freshly baked bread. The hypothesis appears to be correct.
In 1971, at the age of 14, Peter Cancro, the current CEO, began working at Jersey Mike’s Subs. When he graduated from high school at the age of 17, he purchased the building and took over ownership of Mike Subs. He started franchising the company in 1987, and since then, he has added more than 1800 Jersey Mike’s locations around the country. There are now 51 company-owned shops and 1796 franchised outlets.
The success of Jersey Mike’s is largely due to its use of premium ingredients and friendly service. You can watch everything being prepared in front of you, so you know precisely what goes into your sub sandwich.
Is the Jersey Mike’s Subs Profit Worth the Franchise Cost?
Jersey Mike’s Subs can prove to be worth the investment for a potential franchisee.
Over the past three years, Jersey Mike has steadily increased the number of franchise units, and in 2020, the parent company reported a net profit of over $100 million. It is clear from the nearly 2,000 locations and the presence of CEO Peter Cancro, who has been with the company since 1971, that this franchise is passionate about its products.
Jersey Mike’s faces competition from regional, neighborhood, and national chains including Subway, Arby’s, and Firehouse Subs. To better understand the financials, it is firmly advised that you speak with at least five Jersey Mike franchise owners before investing in this opportunity.
Jersey Mike’s Subs Franchise Success and Failure Rate
The below table will highlight the Brand franchise success and failure rate for the last 3 years. This will supplement your decision-making process.
Over the past three years, there has been an annual average addition of 179 new franchise locations. This conveys Jersey Mike’s goal of expansion and deeper market penetration.
The rating for the Jersey Mike’s Subs franchising is 3.9/5.0.
Conclusion: Should You Buy Jersey Mike’s Subs franchise?
With more than 50 years of expertise, Jersey Mike’s systems are tried and true, and the restaurant’s clients are enthusiastic about both the food and Jersey Mike’s experience. The business serves hot subs, cold subs, wraps, combo meals, drinks, and desserts. Additionally, it provides catering and franchising services.
The number of newly opened franchise units has increased significantly over the past three years according to the company. Franchise outlets have taken over company-owned stores that have declined.
However, the company’s expansion is only getting started. All of the country’s territories are now open for development. The chance is right in front of you, and the moment is now. By purchasing the franchise right away, you may learn how Mike’s Way to Profitability can improve your life.
Jersey Mike Subs franchise is indeed a profitable franchise when compared to any of its competitors. It is important for a potential franchise to take a look at its statements and ask franchise owners before investing in a franchise.
Can you make money owning a Jersey Mike’s Subs?
Yes, a franchise owner can make a considerable amount of money by owning Jersey Mike Subs.
Is Jersey Mike’s Subs a franchise?
Yes, Jersey Mike’s Subs is franchising. The brand started franchising in 1987.
How much is Jersey Mike’s Subs franchise?
To open a Jersey Mike Subs franchise, a potential franchise is required to have $18,500 as a franchise fee with an initial investment of $144,668-$786,233.