Jersey Mike's Subs

Jersey Mike's Subs

Subs and Philly cheesesteaks
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2022 Franchise 500 Rank
#4 Ranked #7 last year
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Initial investment
$194K - $955K
Units as of 2022
2,253 41.5% over 3 years

Here’s what you need to know if you’re interested in opening a Jersey Mike's Subs franchise.

Jersey Mike's Subs is a sub shop that focuses on serving delicious, fresh, authentic sub sandwiches. Started in 1956 on the Jersey Shore, Mike's Subs, as it was then called, took advantage of the new sandwich trend and became a successful business. In 1971, at the age of 17, Peter Cancro purchased the shop from Mike himself and took it to a different level. 

After many people commented on how they wished they had Mike's Subs where they lived, Cancro caved and started franchising in 1987. Now called Jersey Mike's Subs, Peter oversees over 1,500 franchise locations. With a huge community initiative, Jersey Mike's Subs has worked to raise over $30 million for local charity partners.

Why You May Want to Start a Jersey Mike's Subs Franchise

Jersey Mike's Subs focuses on quality. It's something that its franchisees can be proud of. They make sandwiches with ingredients that may make your mouth water: red wine vinegar and a special olive oil blend, oven-baked daily bread, store cooked roast beef, in-house cut meats and cheese, and locally-sourced produce when available.

With a limited menu, franchisees may be able to focus on preparing fresh food daily and assembling delicious sub sandwiches. This franchise typically requires less equipment than others. And with smaller staff and location sizes, many report that the franchise can be fairly straightforward to manage.

On the flip side, Jersey Mike's Subs typically requires more training than other franchises. Its robust training system is intended to keep franchisees on their A-game. They don't just teach them how to prepare the food, but also how to run the business.

What Might Make a Jersey Mike's Subs a Good Choice?

The sandwich industry may be considered a fun and family-oriented business. Also, sandwiches may be the healthier and fresher option in the fast-food world. Therefore, you may be providing a great service to your community. When you open a Jersey Mike's Subs, you may be taking your slice of the pie in alternative food choices.

Jersey Mike's Subs has been ranked in Entrepreneur’s Franchise 500 many times in the past decade. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability. 

To be a part of the Jersey Mike's Subs team, you should make sure you are financially ready for an initial investment made up of a franchise fee and other startup costs. You should also prepare yourself for ongoing fees that will include royalty and advertising fees.

How to Start a Jersey Mike's Subs Franchise

Are you ready to open up your own Jersey Mike's Subs franchise? During the interview process, you're generally able to ask any questions you have. If you pass the interview, you now have to prove to Jersey Mike's Subs that you're serious—this is your period of due diligence. Depending on how you handle it, this process could take multiple months.

Franchisees typically spend multiple days training at an on-site Jersey Mike's Subs location before meeting with an executive team member. Then, you will typically sign your franchise agreement and start searching for franchise locations. Give yourself a few months to secure your area.

After construction begins, many franchisees undergo additional training. When that's all said and done, you can get ready for your Jersey Mike's Subs franchise grand opening.

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Company Overview

About Jersey Mike's Subs

Industry
Food
Related Categories
Submarine Sandwiches, Sandwiches
Founded
1956
Parent Company
Jersey Mike's Franchise Systems Inc.
Leadership
Peter Cancro, Founder/CEO

Franchising Overview

Franchising Since
1987 (35 years)
# of employees at HQ
200
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees worldwide.

# of Units
2,253 (as of 2022)

Franchisor Information

Corporate Address
2251 Landmark Pl.
Manasquan, NJ 08736

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Jersey Mike's Subs franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$18,500
Initial Investment
$194,035 - $954,611
Net Worth Requirement
$300,000
Cash Requirement
$100,000
Royalty Fee
6.5%
Ad Royalty Fee
5%
Term of Agreement
10 years
Is franchise term renewable?
Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing
Jersey Mike's Subs has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training
500 hours
Classroom Training
40 hours
Ongoing Support
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
10-15
Are exclusive territories available?
Yes
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Franchise 500 Ranking History

Compare where Jersey Mike's Subs landed on this year’s Franchise 500 Ranking versus previous years.

Additional Rankings

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021