Jersey Mike’s Subs: Slicing the Path to Sandwich Excellence

How The Jersey Mike’s Subs Started

The Jersey Mike’s Subs story began in 1956 in the seaside town of Point Pleasant, New Jersey, where Mike Cancro opened a small shop called Mike’s Subs. The shop quickly became known for its delicious, freshly made subs, crafted with high-quality ingredients and generous portions. In 1971, 14-year-old Peter Cancro began working at Mike’s Subs, and by 1975, with the help of a mentor and a loan, Peter purchased the business. Renaming it Jersey Mike’s Subs, Peter was determined to bring the authentic taste of the Jersey Shore to the rest of the country.

The Jersey Mike’s Expansion

Peter Cancro’s vision and passion for great subs propelled Jersey Mike’s into a period of rapid growth. By focusing on fresh ingredients, friendly service, and a strong sense of community, Jersey Mike’s expanded from a single shop to a thriving franchise. The brand’s commitment to quality—slicing meats and cheeses to order, baking bread fresh daily, and using premium toppings—set it apart from other sandwich chains. Today, Jersey Mike’s boasts over 2,000 locations across the United States and continues to grow.

The Road Ahead

As Jersey Mike’s continues to expand, its dedication to serving high-quality, delicious subs remains at the heart of its operations. The journey from a single sub shop in New Jersey to a nationally recognized brand is a testament to the power of passion, hard work, and a commitment to excellence. Looking ahead, Jersey Mike’s aims to bring its authentic, fresh taste to even more locations while maintaining its strong community connections and philanthropic efforts. With a solid foundation and a bright future, Jersey Mike’s Subs is poised to continue slicing its way to sandwich excellence for years to come.

Jersey Mike's Subs Franchise Numbers

Downpayment

• New Location:
  • Initial investment ranges from $194,035 to $954,611, including franchise fees and initial setup costs.
• Existing Location:
  • Generally between $250,000 and $800,000, depending on the performance and location of the restaurant.
• Multiple Locations:
  • Discounts may be available for additional restaurants, with costs ranging from $180,000 to $900,000 per location after the first.

Financing

• Royalty:
  • Ongoing royalty fee of 6.5% of gross revenue.
• Rent:
  • Rent costs vary, typically between $3,000 and $12,000 per month, depending on the location and size of the restaurant.
• Lease Fee:
  • No specific lease fee; leasing costs are included in the overall initial investment.

Ongoing Fees

• Marketing fee: 1.5% of gross revenue.
• Additional costs for local marketing, supplies, and staff salaries.

Average Cost/Revenue

• Initial Investment:
  • $194,035 to $954,611 for a new restaurant.
• Average Annual Revenue:
  • Typically ranges from $700,000 to $1,200,000.
• EBITDA:
  • Earnings before interest, taxes, depreciation, and amortization can range from 15% to 20% of revenue, resulting in approximately $105,000 to $240,000 per year.

Rating

• Investment to Income Projections:
  • ⭐⭐⭐⭐ (4 stars) due to strong profitability potential and moderate initial investment, especially in high-traffic locations.

Jersey Mike's: A Viable Venture for New Franchisees

Summary

Jersey Mike's Subs has established itself as a leading brand in the fast-casual sub sandwich industry, known for its fresh ingredients and authentic taste. With over 2,000 locations across the United States, the franchise has a robust presence and a proven business model that continues to thrive.

Viability as a New Business Venture

For potential franchisees, Jersey Mike's Subs offers several advantages:

1. Brand Recognition: Jersey Mike's Subs benefits from strong brand recognition and a loyal customer base, making it easier to attract customers and drive sales.
2. Diverse Revenue Streams: The franchise offers various products beyond subs, such as wraps, salads, and catering services, providing diverse revenue streams.
3. Comprehensive Support: Franchisees receive extensive training and ongoing support from the franchisor, including marketing, operations, and product development assistance.
4. Growing Industry: The fast-casual restaurant industry continues to grow, with increasing demand for high-quality and quick dining options.
5. Expansion Opportunities: There are still available territories and locations for new franchises, particularly in suburban and urban areas with high population densities.

Available Locations and Territories

Jersey Mike's Subs continues to expand, with new franchise opportunities available in various regions. Prospective franchisees can explore available territories by contacting the Jersey Mike's Subs franchising team or visiting their website to view current openings. Urban centers and high-traffic suburban areas are prime targets for new locations, offering significant growth potential.

Star Rating

Considering the comprehensive support, brand strength, diverse product offerings, and the growth of the industry, Jersey Mike's Subs scores high in terms of viability for new franchisees:

⭐⭐⭐⭐⭐

With a 5-star rating, Jersey Mike's Subs represents a promising opportunity for those looking to invest in a franchise with a proven track record and robust support system.

Additional Links

• Visit Jersey Mike's Here
• Feeding America - Saturday & Sunday