How much does a Jersey Mike’s franchise cost?
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.
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.
Why choose Jersey Mike’s?
Our franchisees are not only excellent business people, they are tireless community leaders, too. Everything about the Jersey Mike’s culture revolves around our commitment to our customer and to the community. It is why we care so much about the quality of our food and the level of service in our restaurants.
Does Jersey Mike's donate money to charity?
Jersey Mike's states on the company website that while it is voluntary, franchise owners are encouraged to donate 100 percent of their store's earnings on an annual day of giving. So far, the program has a 100 percent participation rate and in just three years, Garcia's locations alone raised $350,000 dollars for various community groups.
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How much is it 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
Is Jersey Mike's franchise owned?
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.
When did Jersey Mike's become a franchise?
1956, Point Pleasant, NJJersey Mike's Subs / Founded
How much is a Jersey Mike's franchise in California?
The Jersey Mike's franchise is a leader in the fast-casual sandwich sector. The franchise fee to open a Jersey Mike's location is $18,500 with total initial costs ranging between $169,001-$804,045.
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.
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 brand meat does Jersey Mike's use?
“That's why we serve only the Certified Angus Beef ® brand for our famous roast beef sub.”
Why is Jersey Mike's so good?
Our meats and cheeses are all top-quality premium brands. Our bread is fresh-baked each day on the premises. And of course, everything's prepared right in front of you. It's what makes Jersey Mike's the most authentic tasting submarine sandwich available, and it's a tradition of quality we'll never outgrow.
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 Subway franchise?
How much is the franchisee fee? The initial franchise fee ranges from $10,000 - $15,000* (US dollars) depending on your country.
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 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 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 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.
Is Krispy Kreme a franchise?
Krispy-Kreme is a privately held doughnut/confectionery franchise.
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 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 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: 1 fresh sliced produce 2 premium quality meats and cheeses 3 bread baked fresh daily in our stores 4 cheese steaks fresh grilled to order
What is the authentic 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:
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.
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.
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.
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.
