Penn Station East Coast Subs

2015 Franchise 500
At a Glance

Products & Services: Grilled subs

Number of Locations: 297

Total Investment: $269.2K - $535.1K

Founded: 1985

Began Franchising: 1987

About Penn Station East Coast Subs

Jeff Osterfeld opened his first quick-service restaurant, Jeffrey's Delicatessen, in Dayton, Ohio, in 1983. A visit to the east coast inspired him to add Philly cheesesteaks to his menu. Then in 1985, he made cheesesteaks the star of the menu in his second restaurant, the first Penn Station, in Cincinnati. Franchising of the concept began two years later.

Franchise Units

Year U.S. Canadian International Company Owned
2015 296 0 0 1
2014 278 0 0 1
2013 260 0 0 1
2012 241 0 0 2
2011 224 0 0 2
Where Seeking Franchisees: Franchisor is seeking new franchise units in the following states:
Midwest, Northeast, South, Southeast.

Startup Costs, Ongoing Fees and Financing

Total Investment: $269,232 - $535,081
Franchise Fee: $25,000
Ongoing Royalty Fee: 4-8%
Term of Franchise Agreement: 5 years, renewable
Financial Requirements
Net Worth: $300,000
Liquid Cash Available: $150,000 - $500,000
85% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 15. Absentee ownership of franchise is allowed. (15% of current franchisees are owner/operators).
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Accounts Receivable

How This Franchise Supports Franchisees

Training: Available at headquarters: 3 weeks. At franchisee's location: 1 week.
Ongoing Support: Newsletter, Meetings, Grand opening, Internet, Field operations/evaluations, Lease Negotiation
Marketing Support: Ad slicks, National media, Regional advertising,

Franchise Ranking History

Franchise 500®: #152 (2015), #153 (2014), #136 (2013), #148 (2012), #141 (2011),

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