- 2024 Franchise 500 Rank
-
N/R Ranked #374 last year
- Initial investment
-
$367K - $824K
- Units as of 2023
-
322 5.9% over 3 years
Penn Station East Coast Subs was founded by Jeff Osterfeld, a former co-operator of a deli in Dayton, Ohio. In 1985, Osterfeld used his expertise to bring his ideas to life by opening his first restaurant in Cincinnati, Ohio. He introduced the concept of preparing meals directly in front of the customers using only fresh ingredients. Penn Station East Coast Subs franchises are known for their cheesesteaks and sandwiches.
Osterfeld's concept of combining up-scale, quick-service dining experience with fresh ingredients and signature display cooking was converted into a franchise concept in 1987. The average Penn Station East Coast Subs restaurant typically serves a signature menu of grilled and cold deli sandwiches made with high-quality ingredients on freshly baked bread. The restaurant menu also includes fresh-cut fries, hand-squeezed lemonade, and chocolate chunk cookies, all freshly made in front of the customers.
Why You May Want to Start a Penn Station East Coast Subs
Penn Station East Coast Subs has been ranked in Entrepreneur’s Franchise 500 many times in the past several decades. This ranking is based on an evaluation of more than 150 data points, including costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
There are more than 300 Penn Station East Coast Subs locations throughout the United States. Penn Station East Coast Subs seeks to expand to new locations with experienced multi-unit franchisees. The unique food menu it provides may prove to be attractive for the franchisee with operational simplicity and unit-level economics.
What Might Make a Penn Station East Coast Subs a Good Choice?
As a franchisee, you're part of a network covering locations including Ohio, Illinois, Indiana, Georgia, Kansas, and more. As you decide if opening a Penn Station East Coast Subs franchise is for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Penn Station East Coast Subs franchise would do well in your community.
How to Open a Penn Station East Coast Subs Franchise
To be considered as a potential franchise operator, you typically need to have the following qualifications:
Some experience with running a business (preferably a franchise)
Some personnel management experience
A sound business strategy that aligns with Penn Station's goals and objectives
Meet the financial requirements
If you meet the criteria above, you can generally get started by filling out an online inquiry form. If you are seen as a good fit, an agent from the franchise might contact you for a pre-qualification interview. If the agent is satisfied, Penn Station East Coast Subs may provide you with a proper franchise application that they expect to be completed within a stipulated time.
Next, you'll generally need to attend an online exploration seminar, and you'll be introduced to other franchisees. You'll typically then be invited to a meeting at Penn Station East Coast Subs headquarters in Milford, Ohio. Finally, you may be able to sign the franchise agreement that will allow you to open the doors to your tasty franchise.
Company Overview
About Penn Station East Coast Subs
| Industry | Food |
|---|---|
| Related Categories | Philly Cheesesteak Sandwiches, Sandwiches |
| Founded | 1985 |
| Parent Company | Osterfeld Enterprises |
| Leadership | Jeffrey Osterfeld, CEO |
| Corporate Address |
1226 U.S. Hwy. 50 Milford, OH 45150 |
| Social | Facebook, Twitter, LinkedIn, Instagram |
Business Overview
| Franchising Since | 1987 (37 years) |
|---|---|
| # of employees at HQ | 36 |
| Where seeking |
This company is offering new franchises in the following US states: Arkansas, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, North Carolina, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia |
| # of Units | 322 (as of 2023) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Penn Station East Coast 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
|
$25,000 |
|---|---|
|
Initial Investment
|
$366,693 - $823,526 |
|
Net Worth Requirement
|
$500,000 |
|
Cash Requirement
|
$300,000 |
|
Royalty Fee
|
to 8% |
|
Ad Royalty Fee
|
2%-3% |
|
Term of Agreement
|
5 years |
| Is franchise term renewable? | Yes |
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 | 202-209 hours |
|---|---|
| Classroom Training | 25-33 hours |
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
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
|
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 | 15 |
|
Are exclusive territories available?
|
Yes |
Franchise 500 Ranking History
Compare where Penn Station East Coast Subs landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Penn Station East Coast Subs ranked on other franchise lists? Find out below.
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