Jersey Mike's Subs
Subs and Philly cheesesteaks
- 2022 Franchise 500 Rank
-
#4 Ranked #7 last year
- Initial investment
-
$194K - $955K
- Units as of 2022
-
2,253 41.5% over 3 years
Here’s what you need to know if you’re interested in opening a Jersey Mike's Subs franchise.
Jersey Mike's Subs is a sub shop that focuses on serving delicious, fresh, authentic sub sandwiches. Started in 1956 on the Jersey Shore, Mike's Subs, as it was then called, took advantage of the new sandwich trend and became a successful business. In 1971, at the age of 17, Peter Cancro purchased the shop from Mike himself and took it to a different level.
After many people commented on how they wished they had Mike's Subs where they lived, Cancro caved and started franchising in 1987. Now called Jersey Mike's Subs, Peter oversees over 1,500 franchise locations. With a huge community initiative, Jersey Mike's Subs has worked to raise over $30 million for local charity partners.
Why You May Want to Start a Jersey Mike's Subs Franchise
Jersey Mike's Subs focuses on quality. It's something that its franchisees can be proud of. They make sandwiches with ingredients that may make your mouth water: red wine vinegar and a special olive oil blend, oven-baked daily bread, store cooked roast beef, in-house cut meats and cheese, and locally-sourced produce when available.
With a limited menu, franchisees may be able to focus on preparing fresh food daily and assembling delicious sub sandwiches. This franchise typically requires less equipment than others. And with smaller staff and location sizes, many report that the franchise can be fairly straightforward to manage.
On the flip side, Jersey Mike's Subs typically requires more training than other franchises. Its robust training system is intended to keep franchisees on their A-game. They don't just teach them how to prepare the food, but also how to run the business.
What Might Make a Jersey Mike's Subs a Good Choice?
The sandwich industry may be considered a fun and family-oriented business. Also, sandwiches may be the healthier and fresher option in the fast-food world. Therefore, you may be providing a great service to your community. When you open a Jersey Mike's Subs, you may be taking your slice of the pie in alternative food choices.
Jersey Mike's Subs has been ranked in Entrepreneur’s Franchise 500 many times in the past decade. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
To be a part of the Jersey Mike's Subs team, you should make sure you are financially ready for an initial investment made up of a franchise fee and other startup costs. You should also prepare yourself for ongoing fees that will include royalty and advertising fees.
How to Start a Jersey Mike's Subs Franchise
Are you ready to open up your own Jersey Mike's Subs franchise? During the interview process, you're generally able to ask any questions you have. If you pass the interview, you now have to prove to Jersey Mike's Subs that you're serious—this is your period of due diligence. Depending on how you handle it, this process could take multiple months.
Franchisees typically spend multiple days training at an on-site Jersey Mike's Subs location before meeting with an executive team member. Then, you will typically sign your franchise agreement and start searching for franchise locations. Give yourself a few months to secure your area.
After construction begins, many franchisees undergo additional training. When that's all said and done, you can get ready for your Jersey Mike's Subs franchise grand opening.
Company Overview
About Jersey Mike's Subs
- Industry
- Food
- Related Categories
- Submarine Sandwiches, Sandwiches
- Founded
- 1956
- Parent Company
- Jersey Mike's Franchise Systems Inc.
- Leadership
- Peter Cancro, Founder/CEO
Franchising Overview
- Franchising Since
- 1987 (35 years)
- # of employees at HQ
- 200
- Where seeking
-
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees worldwide.
- # of Units
- 2,253 (as of 2022)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Jersey Mike's Subs franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $18,500
- Initial Investment
- $194,035 - $954,611
- Net Worth Requirement
- $300,000
- Cash Requirement
- $100,000
- Royalty Fee
- 6.5%
- Ad Royalty Fee
- 5%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Jersey Mike's Subs has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 500 hours
- Classroom Training
- 40 hours
- Ongoing Support
-
NewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- # of employees required to run
- 10-15
- Are exclusive territories available?
- Yes
Franchise 500 Ranking History
Compare where Jersey Mike's Subs landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Jersey Mike's Subs ranked on other franchise lists? Find out below.
Ranked #4 in 2022
Franchise 500 Ranking
Ranked #12 in 2022
Fastest-Growing Franchises
Ranked #6 in 2022
Fastest-Growing Franchises (U.S. & Canada)
Ranked #1 in Submarine Sandwiches in 2021
Best of the Best
Ranked #1 in Submarine Sandwiches in 2022
Top Food Franchises
Ranked #1 in 2022
#1 in Sandwiches: Submarine Category
Want to stay updated on the latest franchise news?
Never miss a beat when you sign up to receive our newsletter.
We care about the protection of your data. Read our Privacy Policy
Related Franchises
Are you eager to see what else is out there? Browse more franchises that are similar to Jersey Mike's Subs.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
How to Start a Blue Moon Estate Sales Franchise in 2023
Looking for information about how to open a Blue Moon Estate Sales franchise? Here's what you need to know.
Use This Checklist to Avoid Buying a 'Zombie' Franchise
Here are 20 questions that will save you time and money. There are great franchise options out there, but you must do your due diligence.
The Hottest Franchise Trends for 2023
Looking for a business to buy in 2023? We predict which franchise categories will thrive, and list top brands available in each.
Thinking of Buying a Franchise? These Four Industries Are Flaming Hot Right Now
Turns out eating breakfast, working out, riding a rollercoaster and getting a job have something in common.
Want to Find New Franchisees? Here Are 4 Ways to Fix Your Online Marketing.
With a smarter strategy, your next recruit is clicks away.
Turning a Franchise Business Into a Nonprofit? Here's How It's Done.
Challenge Island recently helped a franchisee in New Mexico transform her location into a nonprofit. Here, she explains why she made the decision, and how it works.
