Full Answer
How much does it cost to open a Jersey Mike’s franchise?
The initial Jersey Mike’s Franchise Fee is $18,500. You have to pay this upfront fee when opening a Jersey Mike’s franchise. The estimated total investment necessary to begin the operation of a Jersey Mike’s Franchise ranges from $194,035—$954,611. The costs below are part of the upfront costs included in the initial investment for a Jersey Mike’s.
How much do Jersey Mike’s charge for royalty fees?
Both royalty and advertising fees are higher for Jersey Mike’s than the industry standard which is 5.2% for royalty fees and 2.3% for advertising fees. How Much does a Franchise Owners make?
How many Jersey Mike's locations are there?
In 2014, Garcia was the owner of 20 Jersey Mike's locations in California, with plans for many more, he told Entrepreneur. Jersey Mike's initial franchise fee isn't as steep as others
Is Jersey Mike’s a profitable business?
AND AFFILIATES CONSOLIDATED Jersey Mike’s is a very profitable business for the franchisor with retained operational earnings of $38.5 million in 2021. Compared to $22.5 million in 2019, they saw an increase of 71% from 2019 to 2021. This is a good indication of high growth as a company’s overall.
See more
What is the average profit for a Jersey Mike's franchise?
Average Franchisee Profit The average profit of a Jersey Mike's Franchisee is $50,000 – $200,000 per year.
How much is a Jersey Mike's franchise worth?
What Does a Jersey Mike's Franchise Cost? To buy a franchise with Jersey Mike's, you'll need to have at least $100,000 in liquid capital. Franchisees can expect to make a total investment of $177,943 - $592,851. Jersey Mike's charges a franchise fee of $18,500.
What is the royalty fee for Jersey Mike's?
6.5% of gross receipts for a standard franchise agreement.
What is the most profitable franchise?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
How much does it cost to start 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 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 Is a Subway franchise?
The initial franchise fee ranges from $10,000 - $15,000* (US dollars) depending on your country.
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.
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 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.
Do franchise owners make 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.
Is a franchise a good investment?
If you're a fledgling entrepreneur or a seasoned business person wanting to diversify your holdings, you've probably wondered, “Are franchises a good investment?” The simple answer is yes, especially if a great opportunity presents itself. There is an obvious appeal to starting a business via buying a franchise.
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?
The initial franchise fee ranges from $10,000 - $15,000* (US dollars) depending on your country.
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.
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.
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 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.
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 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.
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 long does it take to recoup a midpoint investment?
1 – Based on a midpoint investment of $465,451 with estimated profits of $117,253 at a 10% profit margin it would take about 5 years to recoup your investment.
