Penn Station East Coast Subs

Penn Station East Coast Subs

Penn Station East Coast Subs
#139

Initial Investment

LOW: $269,232
HIGH: $535,081

Change in Units

+6.1% +18 UNITS (1 Year)
+12.1% +36 UNITS (3 Years)

Company Profile

Founded

1985

Franchising Since

1987 (29 Years)

Corporate Address

1226 U.S. Hwy. 50 Milford, OH 45150

CEO

Jeffrey Osterfeld

Parent Company

Osterfeld Enterprises

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.

Financials

Financial Requirements

Initial Investment

$269,232 - $535,081

Net-worth Requirement

$500,000

Liquid Cash Requirement

$300,000

Ongoing Fees

Initial Franchise Fee

$25,000

Ongoing Royalty Fee

4-8%

Ad Royalty Fee

1%

Financing Options

Penn Station East Coast Subs has relationships with third-party sources which offer financing to cover the following: 
franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Franchise 500® Rank History

Highest Rank: 136

Lowest Rank: 206

  • 2006 - 177
  • 2007 - 196
* Not all years were ranked

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units in the following regions/states:
See List

Operations & Franchisor Support

Training Onsite: 1 week

Training at headquarters: 3 weeks

Ongoing Support
Newsletter
Meetings
Grand Opening
Internet
Field Operations

Marketing Support
Ad Slicks
Regional Media
National Media

Absentee Ownership Allowed

Number of employees required to run: 15

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Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: October 2nd, 2015

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