Jersey Mike's Subs

Founded: 1956 Franchising since: 1987
The first Jersey Mike's Super Sub was created in Point Pleasant, New Jersey, on the Jersey Shore in 1956.

Peter Cancro started working in the submarine sandwich business when he was 14 years old. At the age of 17, before state law allowed him to operate a slicing machine, Cancro bought the original Jersey Mike's location.

Since it started franchising in 1987, Jersey Mike's has grown to more than 150 franchises.

2251 Landmark Pl. Manasquan, New jersey 08736

Phone: (732)223-4044

Franchisor is a privately-held company with 25 employee(s); 25 employee(s) in franchise department.

Franchise Growth

Year	U.S. Franchises	Canadian Franchises	Foreign Franchises	Company Owned
2009	377	0	0	14
2008	335	0	0	21
2007	315	0	0	20
2006	303	0	0	21
2005	--	--	--	--

Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming

Exclusive territories available.

Total investment: $108.9K-380.98K Franchise fee: $18.5K

Ongoing royalty fee: 6.5% Term of agreement: 10 years, renewable

Type of Financing Available

	In-House	Third Party
Franchise Fee	No	Yes
Startup Costs	No	Yes
Equipment	No	Yes
Inventory	No	Yes
Accounts Receivable	No	Yes
Payroll	No	Yes

Third-party financing source(s): banks & finance companies

Qualifications
Net worth requirement: $100K
Cash liquidity requirement: $50K
Business Experience:

• Restaurant experience

Operations

• 35% of all franchisees own more than one unit
• Number of employees needed to run franchised unit: 10 - 15
• Absentee ownership of franchise is allowed. (85% of current franchisees are owner/operators)

Training

• Available at headquarters: 14 days
• At certified training location : 1-3 months

Ongoing Support

• Newsletter
• Meetings
• Toll-free phone line
• Grand opening
• Internet
• Field operations/evaluations

Marketing Support

• Co-op advertising
• Ad slicks
• Regional advertising

Franchise 500® rank:
#168 (2009);