Tubby's Sub Shop Inc.

At a Glance

Products & Services: Subs

Number of Locations: 57

Total Investment: $86.9K - $253K

Founded: 1968

Began Franchising: 1978

About Tubby's Sub Shop Inc.

Founder Richard Paganes opened the first Tubby's Sub Shop in 1968 in St. Clair Shores, Michigan. The company began franchising in 1978 and has locations in the Midwest and southeastern United States. Tubby's, which began as a family-owned and -operated business, is now public and is based in Clinton Township, Michigan.

Franchise Units

Year U.S. Canadian International Company Owned
2014 56 0 0 1
2012 61 0 0 0
Where Seeking Franchisees: Franchisor is seeking new franchise units in the following states:
Florida, Michigan, Midwest, Ohio.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $86,900 - $253,000
Franchise Fee: $17,500 - $20,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $350,000 - $500,000
Liquid Cash Available: $75,000
Operations
20% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 3 - 4. Absentee ownership of franchise is allowed. (90% 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: Company store : 120 hours minimum.
Ongoing Support: Newsletter, Grand opening, Field operations/evaluations, Purchasing cooperatives
Marketing Support: Co-op advertising, Ad slicks,

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