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Jersey Mike's Subs

2014 Franchise 500
#68
At a Glance

Products & Services: Subs

Number of Locations: 845

Total Investment: $214.1K - $640.5K

Founded: 1956

Began Franchising: 1987

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.

Franchise Units

Year U.S. Canadian International Company Owned
2014 815 0 0 30
2013 689 0 0 24
2012 566 0 0 18
2011 483 0 0 24
2010 430 0 0 22
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $214,117 - $640,509
Franchise Fee: $18,500
Ongoing Royalty Fee: 6.5%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $300,000
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).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 5 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

Franchise 500®: #68 (2014), #68 (2013), #81 (2012), #147 (2010),
Fastest-Growing: #29 (2014), #33 (2013), #48 (2012), #57 (2010),

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