How much does a Jersey Mike’s Subs franchise cost?
The initial investment for a Jersey Mike’s Subs franchise ranges from $194,035 – $954,611. Of course, you’ll also need to have enough capital to cover the costs of rent, equipment, and supplies. But if you’re looking for a great fast-food franchise, then Jersey Mike’s is a great option.
How many Jersey Mike's restaurants are in the US?
Jersey Mike's Subs is an American submarine sandwich chain headquartered in Manasquan, New Jersey. The Jersey Mike's franchise has almost 1,300 locations open and about 70 more in development across the United States. Five additional locations are open outside the U.S.
Is it possible to own a Jersey Mike’s?
The answer is “yes” to all of the above. 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.
What is Jersey Mike’s known for?
Jersey Mike’s started its journey in 1956 when it was called Mike’s Subs at first. Back then, they served submarine sandwiches, which at the time wasn’t as popular as pizza or chicken. However, due to its location in Point Pleasant, New Jersey, it became the go-to store for residents and tourists.
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How much does a Jersey Mike's owner make a year?
Average Franchisee Profit The average profit of a Jersey Mike's Franchisee is $50,000 – $200,000 per year.
How much money 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
How much does the average Jersey Mike's franchise make?
2021 Jersey Mike's Average Unit Volume: $1,049,047Initial Investment (midpoint)%Profit margin of average franchise salesEstimated Profits$574,32310%$104,90415%$157,35720%$209,808
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
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 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 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 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 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.
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 can I own a Starbucks franchise?
You can't. Starbucks Coffee doesn't franchise. Even though franchising is a classic, successful growth strategy for myriad beloved, familiar brands, Starbucks does not grant franchises. It's not because franchising isn't a time-tested model for growth.
Who owns Jersey Mike's?
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.
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 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 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 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 many Jersey Mike's locations are there?
Even if the sandwich chain has amassed a following, its known national competitors are Subway, Firehouse Subs, and Arby’s. Presently, Jersey Mike’s has over 2,000 locations nationwide.
How much has Jersey Mike donated?
They even dedicate the last Wednesday of March as the Jersey Mike’s Day of Giving®. So far, they have donated over $30 million. In 2010, Jersey Mike’s was awarded the Best Sub Sandwich by the press. Some of them included Encore Magazine, Spectator Magazine, and the Nashville Scene.
What is The Mr. Appliance Franchise Cost?
For your home and office appliance needs and repairs, there’s only one name you can trust if you’re in the United States or Canada. Mr. Appliance is a reliable company with decades of experience. The company has been offering franchising opportunities since 1996. So, if you want a money-making venture, learn more about Mr. Appliance’s franchise terms and costs.
What is a QSR franchise?
Fast-casual or quick-service restaurants (QSR) have been the premier choice by potential franchisees to invest in. And most of these restaurants attribute their growth to the franchising model, which has given them huge leaps to success. One of the franchises many consider is Jersey Mike’s. But how much does a Jersey Mike’s franchise cost?
Does franchising cover the initial cost?
The franchisor may cover a percentage of the initial franchise cost. This will depend on the franchisee’s creditworthiness and other collateral presented to secure financing.
Where is Jersey Mike's located?
Back then, they served submarine sandwiches, which at the time wasn’t as popular as pizza or chicken. However, due to its location in Point Pleasant, New Jersey, it became the go-to store for residents and tourists. In 1971, Peter Cancro bought Jersey Mike’s and became the owner.
Who supervises the franchisee?
As for obligations, it’s expected that the principal or a full-time manager will supervise and devote time to operating the franchise. The franchisee should also only sell the products approved by the franchisor and cannot sell other unrelated products.
What are the restrictions on Jersey Mike's?
Obligations and Restrictions: The Jersey Mike’s franchised restaurant is to be at all times under the direct on-premises supervision of the controlling principal, or a competent employee acting as full-time manager or shift supervisor who has satisfactorily completed the franchisor’s initial training program and has been approved in writing by the franchisor. Franchisees, or the controlling principal (if the franchisee is operating as a business entity), or a manager whom the franchisee has designated and the franchisor has approved, must devote full-time energy and best efforts to the management and operation of the franchised restaurant, unless otherwise approved in writing by the franchisor. Franchisees will offer for sale, use and provide at the franchised restaurant all types of sandwiches and other categories of food products that the franchisor authorizes. Franchisees are prohibited from offering for sale, selling or providing at the franchised restaurant or the premises any other category of products and from using the premises for any purpose other than the operation of a franchised restaurant . Franchisees are prohibited from installing or maintaining on the premises any food racks or other sales and promotional items and materials not authorized by the franchisor, and they are prohibited from installing or maintaining newspaper racks, juke boxes, gum machines, games, rides, vending machines or other similar devices on the premises.
How long does a franchise last?
Term of Agreement and Renewal: The length of the initial franchise term is 10 years from the date the Franchise Agreement is signed. If franchisees have complied with all the provisions in the Franchise Agreement, they can renew for one additional term of 10 years.
What is a sub above franchise?
Franchise Description: The franchisor is A Sub Above, LLC, a subsidiary of Jersey Mike’s Franchise Systems, Inc. (JMFS). The franchisor offers franchises for the establishment, development and operation of restaurant facilities for the on-premises and off-premises consumption of a wide assortment of made-to-order submarine type sandwiches, other sandwiches and related food products and beverages.
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