At a Glance
Products & Services: Subs
Number of Locations: 697
Total Investment: $243.33K - 492.73K
Began Franchising: 1987
About Jersey Mike's SubsThe 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.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $18,500
Ongoing Royalty Fee: 6.5%
Term of Franchise Agreement: 10 years, renewable
Net Worth: $300,000
Liquid Cash Available: $100,000
Operations35% 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|