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Is Jersey Mike's franchise or corporate?
Our franchisees are a diverse group of individuals with something in common: they have embraced the opportunity of owning a Jersey Mike's and serving our delicious, fresh sub sandwiches. Many of our successful franchisees have some other traits in common.
How much does it cost to franchise a Jersey Mike's?
InvestmentType of ExpenditureActual or Estimated AmountsWhen DueInitial Franchise Fee$18,500On Signing of the Franchise AgreementReal Estate and Construction Fee$5,000On Signing LeaseRent/Lease CAM/Taxes/Lease and Utility Security Deposits$0 - $38,250MonthlyArchitectural Fees$4,876 - $16,000As Arranged15 more rows
How much does a franchise owner of Jersey Mike's make?
How Much Profit Does a Jersey Mike's Franchisee Make Per Year? A franchise owner can expect to make around $73,000 a year. These numbers look lower when compared to other chains that can bring you in 6 figures a year, but that's not the full story.
Who owns Jersey Mike's franchise?
Peter CancroIn 1987, Peter began franchising. He changed the name from Mike's Subs to Jersey Mike's Subs to capture the authenticity of where the authentic sub sandwich was born. Today, Peter Cancro is CEO of Jersey Mike's Franchise Systems Inc., overseeing more than 2,000 locations open and under development.
Which franchise makes the most money?
What is the most profitable franchise to own? According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own. The food chain has been franchising for nearly 6 decades and is still seeking franchises worldwide. As of 2021, they have 7,567 open units.
Do franchise owners make good money?
Franchise Business Review found that the average annual pre-tax income of franchise owners in America is $80,000. Only 7% of franchise owners make more than $250,000 annually, and 51% earn less than $50,000. Legally, franchisors cannot give income amounts or forecasts of future income.
What kind of meat does Jersey Mikes use?
“That's why we serve only the Certified Angus Beef ® brand for our famous roast beef sub.” Jersey Mike's, a fast-casual sub sandwich franchise with more than 750 locations open and under development nationwide, has a long history of community involvement and support.
How much does a Subway owner make a year?
Subway Salary FAQs The average salary for an Owner is $122,790 per year in United States, which is 35% higher than the average Subway salary of $90,583 per year for this job.
What is the royalty fee for Jersey Mike's?
6.5% of gross receipts for a standard franchise agreement.
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
What is the cost of McDonald's franchise?
The Franchise fee of McDonald's goes for around 30 lakhs INR; however, this fee is also attached with a 4 % monthly royalty fee as service fees to the brand. The actual investment amount differs, a business owner needs to keep a rough estimate of around 6 to 14 Crores.
How much is the owner of Jersey Mike's worth?
An American businessman named Peter Cancro currently has a net worth of more than $400 million USD. Jersey There are roughly 1500 Mike's Subs locations in the US. Cancro and his wife Tatiana own a four-bedroom condo on East 68th Street and have $15.68 million in assets and income.
How much is a Jersey Mike's royalty fee?
6.5%$954,611Type of FeeAmountContinuing Services and Royalty Fees6.5% of gross receipts for a standard franchise agreement.Grand Opening Advertising$12,500; $5,000 for transfers or relocations.Real Estate and Construction Fee$5,000Corporate Advertising and Development FundCurrently 1% of gross receipts.23 more rows
How much do franchise owners make a year?
about 80,000 dollarsAccording to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars.
Is owning a Jimmy John's profitable?
Based on the median sales provided by Jimmy John's franchise locations, at an average of a 15% profit margin, it will take around 5.5 years to recoup your investment. This is shorter than other franchise opportunities. The venture appears profitable and within reach to get the investment back.
How much does a Subway owner make a year?
Subway Salary FAQs The average salary for an Owner is $122,790 per year in United States, which is 35% higher than the average Subway salary of $90,583 per year for this job.
What is Jersey Mike's sub?
The authentic sub sandwich, served Mike’s Way with onions, lettuce, tomatoes, olive oil blend, red wine vinegar and spices, is what differentiates Jersey Mike’s from the others. Authentic means fresh sliced, premium quality meat and cheese. It means bread baked fresh daily in our stores. It means that every morning we hand slice only the freshest onions, lettuce and tomatoes to top our subs. It means Certified Angus Roast Beef trimmed tied and cooked in our stores. Our 99% fat free turkey is whole muscle meat with no fillers. Our tuna is made fresh in the store. Our cheese steaks are fresh grilled while you wait along with onions and peppers for that authentic Philly taste. Why do we insist on making our sub sandwiches the same way we’ve been making them since 1956? Because we refuse to compromise on quality or freshness. Our commitment to quality, freshness and authenticity has helped us win Best Sub and Best Sandwich Awards in virtually every market we serve. It will help you by bringing back customers again and again to satisfy their craving for authenticity.
How long is Jersey Mike's training?
Our training program requires three times the hands-on experience than many franchise systems. Our training program requires 8-10 weeks of classroom training and in-store experience immediately sets the bar high for operational excellence. Ongoing Back to Basics training, Train the Trainer programs and others crew excellence initiatives help keep the bar high. Our philosophy is simple: more thorough and robust training program, which concentrates on the entire business operation not just product production, makes our stores better prepared to manage their business. Well trained owners and managers operate better stores and help us protect the Jersey Mike’s brand.
What is the culture of a franchise company?
When the founder of a franchise company actually runs a store for years, the result is a different kind of company culture: one that is completely focused on store-level profitability and franchisee success; a culture that offers a balanced lifestyle.
How Much is a Jersey Mike’s Franchise?
The initial Jersey Mike’s Franchise Fee is $18,500. This is the upfront fee that must be paid when opening a Jersey Mike’s franchise.
What is Jersey Mike's competition?
Jersey Mike’s competes with regional and local delis and as well as national chains such as Subway, Arby’s, and Firehouse Subs.
How much does it cost to franchise Jersey Mike?
Opening a franchise of a popular restaurant is often very expensive and per the company's website, investors in Jersey Mike's can expect the cost to be between $237,419 and $766,971.
Is Jersey Mike's a sub above?
Jersey Mike's bills itself as "a sub above" and while they may not be as healthy as Subway, the New Jersey-based sandwich chain is clearly doing a lot of things right. According to The Motley Fool, Jersey Mike's was the fastest-growing sandwich chain in the United States in 2013, and it continued that trend through 2019 as well (via Nation's Restaurant News ).
Is Jersey Mike's corporate supportive?
The bright side is that once you have the store built, Jersey Mike's corporate is reportedly very supportive in making sure new locations succeed. "The support has been exemplary and hasn't changed from the first location to the third," Cohen said.
What is the franchise fee?
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
How long is a franchise agreement?
10 years. Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease.
Do franchisors have in-house financing?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
Background
The quality of Jersey Mike's product creates a passionate, loyal customer base that has led to solid repeat business. On top of being clean and easy, franchising with Jersey Mike's requires little equipment investment and very manageable staff sizes.
Support and Training Offered By Jersey Mike's
Jersey Mike's training program requires three times the hands-on experience when compared to other franchise systems. Its training program requires 8-10 weeks of classroom training and in-store experience, and immediately sets the bar high for operational excellence.
Franchises Similar to Jersey Mike's
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
How much does a Jersey Mike's Subs franchise make?
Typically, franchise profits are proportionate to the size of investment. We can help you figure out how much money you can make by reviewing your personal situation. Please unlock this franchise for more information.
What is Jersey Mike's Subs?
Jersey Mike's Subs offers a wide assortment of made-to-order submarine type sandwiches and related food products and beverages.
What is franchise grade?
Franchise Grade is dedicated to providing research and education that can help you make confident franchise investment decisions.
Are there any Jersey Mike's Subs franchise opportunities near me?
Based on 2020 FDD data, Jersey Mike's Subs has franchise locations in 47 states plus DC. The largest region is the South with 780 franchise locations.
