If you are hoping to acquire and manage a Jimmy John’s franchise, below are the financial requirements, according to Jimmy John’s 2019 FDD. 1. Initial Franchise Fee: $30,000 to $35,000 You’re expected to pay Jimmy John’s an initial franchise fee in full when you sign the Franchise Agreement. The standard initial franchise fee currently is $35,000.
Full Answer
How much does it cost to open Jimmy John’s franchise?
The upfront fee of the Jimmy John’s franchise is from $30,000 to $35,000. This initial franchise fee is paid lump-sum to the Jimmy John’s. The ongoing franchise expenses, on the other hand, are the following:
Is Jimmy John's a semi absentee franchise?
No. Jimmy John's is not a semi absentee franchise. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Is Jimmy John's a Home Based franchise?
How many Jimmy John's locations are there in the US?
Jimmy John's has opened approximately 200 locations per year over the past three years. As of 2014, 98% of the locations were franchise-owned. As of March 2017, Jimmy John's has almost 3,000 stores with plans for expansion up to 5,000 and beyond. How much does Jimmy John's franchise cost?
How much does it cost to hire a franchisee?
Fee for Hiring the Franchisor’s Affiliate’s, or Franchisee’s Management Employees after Violating Non-Recruitment / Non-Solicitation Restriction $50,000 per occurrence. Unauthorized Advertising Fee $1,000 per occurrence. Late Fee 10% of original amount due but not paid on time. Confidential Operations Manual $500 Management Fee
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How much does a Jimmy John's franchise owner make?
(2021) Jimmy John's Median Franchise Sales: $874,845 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.
How much does it cost to open a Jimmy Johns?
To own a Jimmy John's Restaurant, your looking at a total investment of $313,600 to $556,100, depending on the size and location and includes initial real estate lease costs and a franchise fee of $35,000. In actuality, candidates will need $200,000 in either cash, marketable securities, stocks, etc.
How much profit does a Jimmy Johns make?
According to the brand's 2019 FDD, Jimmy John's stores saw an average 6.5% net profits on $1.2 million in annual sales. That comes out to a hair under $80,000 per year after a 6% royalty and about 6.5% of sales going towards marketing funds.
What do you need to start a Jimmy John's franchise?
What Does a Jimmy Johns Gourmet Sandwiches Franchise Cost? To buy a franchise with Jimmy Johns Gourmet Sandwiches, you'll need to have at least $200,000 in liquid capital and a minimum net worth of $1,000,000. Franchisees can expect to make a total investment of $313,600 - $556,100.
What is the most profitable franchise to own in 2022?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
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 is the cost of McDonald's franchise?
Documents- ID cards, lease documents, etc. Franchise Investment Cost- In India, if anyone wants to start a McDonald's franchise in India, then their net worth should be between INR 10 to 15 Crore. Also, assets worth INR 5 Crore should be in the form of cash or liquid assets.
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.
How Much Is a Subway franchise?
How much is the franchisee fee? The initial franchise fee ranges from $10,000 - $15,000* (US dollars) depending on your country.
What is the cost of a Starbucks franchise?
What are the Financial requirements for a Starbucks licensed store? You need to pay the licensing fee of between $50,000 – $315,000 and you must have over $1,000,000 in liquid assets to be considered for a licensed store by Starbucks.
What is the franchise fee for Dunkin Donuts?
Here is a breakdown and ranges of the financial requirements to open a Dunkin' franchise: Total investment range: $97,500 to $1.7 million. Initial franchise fee: $40,000 to $90,000 (varies by location) Net worth: $500,000 minimum.
How much does it cost to open a Jersey Mike's franchise?
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
What is the cost of McDonald's franchise?
Documents- ID cards, lease documents, etc. Franchise Investment Cost- In India, if anyone wants to start a McDonald's franchise in India, then their net worth should be between INR 10 to 15 Crore. Also, assets worth INR 5 Crore should be in the form of cash or liquid assets.
What is the cost of a Starbucks franchise?
What are the Financial requirements for a Starbucks licensed store? You need to pay the licensing fee of between $50,000 – $315,000 and you must have over $1,000,000 in liquid assets to be considered for a licensed store by Starbucks.
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.
How much does owner of Subway make?
The average salary for an Owner is $122,868 per year in United States, which is 35% higher than the average Subway salary of $90,583 per year for this job.
Background
With so many quick-service restaurant (QSR) options, sometimes you just want a good sandwich. This is where the Jimmy John's franchise comes in. Founded in 1983 by James John Liautaud and franchising since 1993, the brand has always focused on what it does best: making high-quality sandwiches in a fast amount of time.
Support and Training Offered By Jimmy John's
In terms of support and training, the franchisee can expect 171 hours worth of on-the-job training. Additionally, general managers will receive 7 weeks of training and assistant managers will get three weeks.
Franchises Similar to Jimmy John'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.
When are the costs applicable for Jimmy John's?
The costs are applicable when you are developing a new Jimmy John’s restaurant.
What is Jimmy John's famous for?
Jimmy John’s is popular for their delicious sandwiches. They also consider making deliveries as their specialty. With a limited product line, 7 types of meat, 2 types of bread, and 1 type of cheese making 25 different sandwiches, it is quite easy to operate compared to other food businesses. In 2011, CNN Money listed Jimmy John’s as one ...
What happens after franchise training?
After the training, the company will continue to support franchisees by providing available retraining and updating of knowledge needed to run the business.
How long does it take to train a franchisee?
If a grand opening is to be conducted, the company recommends that it is scheduled for 90 to 120 days after the opening. Training Expenses – There is a 7-week training program for the franchisees. The costs indicated are for that as well as the out-of-pocket costs for 3 personnel. It can be from $6,000 to $15,000.
How long after a grand opening is a company required to do a grand opening?
If a grand opening is to be conducted, the company recommends that it is scheduled for 90 to 120 days after the opening.
How to Franchise?
Now that you have an idea on how much does Jimmy John’s franchise cost, the next thing you should know is how to buy the franchise. Well, here is the process:
How much does it cost to start a startup?
The cost runs around $6,000.
How much does it cost to buy office equipment?
Total cost for office equipment runs around $2,500.
Is it possible to get money by franchising a business?
Franchising a business is one simple way to earn money, especially if you are franchising an already famous business. You will just have to qualify with their specific requirements, pay their franchising fee, and follow the rules. Jimmy John’s might be the best option for you. Jimmy John’s is a popular sandwich restaurant chain, ...
How long does it take to open a franchise?
We estimate it will be 9 – 12 months after you sign the Franchise Agreement before you open your doors, but the timeframe could be longer depending on a variety of factors, including your diligence in the site selection and leasing processes and existing market conditions.
What makes a franchise successful?
They have, or they are willing to create relationships with community leaders, schools, local sports teams, local charities… and really, anyone who enjoys a fresh, high-quality sandwich. When franchisees show their communities love via sponsorships and other types of involvement, those communities return the love with long-term loyalty.
Do you have to reside in the market where you are operating?
Yes. Either you or your operations partner must reside in the market in which you are operating.
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