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How much money do you make owning a Jersey Mike's?
The average profit of a Jersey Mike's Franchisee is $50,000 – $200,000 per year.
How much does it take to start 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 is a Jersey Mike's franchise worth?
JERSEY MIKE'S SUBS The franchise fee to open a Jersey Mike's location is $18,500 with total initial costs ranging between $169,001-$804,045. As with any franchise, the range of costs depends on various factors: location fees, construction and design, permits, insurance, opening inventory, and more.
Are Jersey Mikes profitable?
Jersey Mike's is a very profitable business for the franchisor with retained operational earnings of $38.5 million in 2021....JERSEY MIKE'S FRANCHISE SYSTEMS, INC. AND AFFILIATES CONSOLIDATED.20212019Continual service fees and other income$376,753,203$223,275,6369 more rows
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
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 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.
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.
What are the financial requirements for a potential franchisee?
Before being considered for the franchise investment, you might have to prove that you have a net worth of $100,000 or some other amount. Some large franchises require even larger net worth — into the range of $300,000 or more. This can be frustrating for some franchisees.
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 ongoing royalty fee for Jersey Mike's?
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 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 are the financial requirements for a potential franchisee?
Before being considered for the franchise investment, you might have to prove that you have a net worth of $100,000 or some other amount. Some large franchises require even larger net worth — into the range of $300,000 or more. This can be frustrating for some franchisees.
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 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 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.
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 the subway investment fee higher than the investment fee?
Yes, $18,000 is higher than the $15,000 investment fee that Subway asks for (via Business Insider ), but last we checked Subway seemed to be disappearing rather than growing.
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.
How much cash does Sub Above LLC have in 2020?
In 2020, A Sub Above LLC had cash at the end of the year of $8.07 million which is a 6% increase from the year end cash in 2019 of $7.6 million. However, some information is not comparable between 2019 and 2020 as 2019 only recorded one week of financial information. In 2020 there was $107.2 million distributed to members. This indicates the health of the financials as they only kept $480,000 of the $107.7 million they earned from operating activities.
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.
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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.
Is the return on investment good for the restaurant industry?
The return on your investment is quite promising for the restaurant industry.
