#81
At a Glance
Products & Services: Submarine sandwiches
Number of Locations: 485
Total Investment: $161.64K - 418.35K
Founded: 1956
Began Franchising: 1987
Private Owned
About Jersey Mike's Subs
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.
Franchise Units
| Year | U.S. | Canadian | International | Company Owned |
| 2011 | 462 | 0 | 0 | 23 |
| 2010 | 430 | 0 | 0 | 22 |
| 2009 | 377 | 0 | 0 | 14 |
| 2008 | 335 | 0 | 0 | 21 |
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S.
Startup Costs, Ongoing Fees and Financing
Total Investment: $161,638 - $418,354
Franchise Fee: $18,500
Ongoing Royalty Fee: 6.5%
Term of Franchise Agreement: 10 years, renewable
Franchise Fee: $18,500
Ongoing Royalty Fee: 6.5%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $200,000
Liquid Cash Available: $100,000
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).| Financing Type | In-House | Third Party |
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How This Franchise Supports Franchisees
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 Ranking History
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