In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Jimmy John’s franchise, based on Item 7 of the company’s 2023 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Jimmy John’s franchise, based on Items 5 and 6 of the company’s 2023 FDD
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Section IV – News updates on the Jimmy John’s franchise opportunity
Section V – Presentation and analysis of Jimmy John’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:
- 2019, 2020, 2021, and 2022 average unit volume for the franchised Jimmy John’s Restaurants that operated for Jimmy John’s entire applicable Fiscal Year and did not close for any period during the applicable Fiscal Year, separated by whether or not the franchised restaurant includes a drive-thru
- 2022 average, median, highest, and lowest unit volume for the 2,507 Jimmy John’s Restaurants, comprised of 37 that Jimmy John’s affiliate owns and operates and 2,470 that franchisees own and operate, that operated for Jimmy John’s entire 2022 Fiscal Year, and did not close for any period during the 2022 Fiscal Year
- 2022 average, median, highest, and lowest unit volume for the 2,570 Jimmy John’s Restaurants, comprised of 40 that Jimmy John’s affiliate owns and operates and 2,530 that franchisees own and operate, that operated during Jimmy John’s 2022 Fiscal Year, including the 63 Jimmy John’s Restaurants that temporarily closed for any period during the 2022 Fiscal Year due to the global pandemic, weather, or protests
Section VI – Key ratios, comparables, computations, and analyses for the Jimmy John’s franchise opportunity (exclusive content for Platinum subscribers)
Section I – Jimmy John’s Franchise Costs
- Jimmy John’s franchise costs, based on Item 7 of the company’s 2023 FDD:
- Initial Franchise Fee: $30,000 to $35,000
- Real Estate/Rent (1 month): $2,500 to $8,000
- Security Deposit: $2,500 to $8,000
- Leasehold Improvement Costs: $115,000 to $310,000
- Furniture, Fixtures, Signage, and Equipment (including Computer/Point-of-Sale System): $115,000 to $166,000
- Architect: $9,500 to $17,000
- Office Equipment: $2,200
- Utility Deposits: $1,000 to $2,000
- Opening Inventory and Supplies: $6,000
- Grand Opening Event: $3,000 to $5,000
- Training Expenses (out-of-pocket costs for up to 3 people): $6,000 to $15,000
- Insurance: $11,500 to $15,000
- Miscellaneous Expenses: $2,000 to $10,000
- Additional Funds for 3 Months: $50,000 to $75,000
- Total Estimated Jimmy John’s Franchise Costs (excluding real estate purchase costs): $356,200 to $674,200
Section II – Jimmy John’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Jimmy John’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:
- Initial Franchise Fee: $30,000 to $35,000
- Royalty: 6% of weekly Gross Sales
- Advertising and Development Fund: up to 4½% of weekly Gross Sales (currently the full 4½%) or 2.25% for Non-Traditional Locations
- Cooperative Advertising Programs: up to 2% of Gross Sales
Section III – Number of Franchised and Company-Owned Jimmy John’s Outlets
Franchised
2020
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- Outlets at the End of the Year: 2,659
- Net Change: -87
2021
- Outlets at the Start of the Year: 2,659
- Outlets at the End of the Year: 2,616
- Net Change: -41
2022
- Outlets at the Start of the Year: 2,616
- Outlets at the End of the Year: 2,597
- Net Change: -19
Company-Owned
2020
- Outlets at the Start of the Year: 42
- Outlets at the End of the Year: 41
- Net Change: -1
2021
- Outlets at the Start of the Year: 41
- Outlets at the End of the Year: 41
- Net Change: 0
2022
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code to see which franchises are still available near you, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does.- Outlets at the Start of the Year: 41
- Outlets at the End of the Year: 40
- Net Change: -1
Section IV – News Updates on the Jimmy John’s Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Jimmy John’s Franchise (Item 19, 2023 FDD)
- These financial performance representations provide “AUVs,” or average unit volumes, for specific groups of Jimmy John’s Restaurants and specific time periods.
- “Unit volume” means the actual gross receipts of the Jimmy John’s Restaurants during the applicable time period, less sales tax and amounts for coupons and promotions.
- Jimmy John’s obtains the unit volumes for franchised Jimmy John’s Restaurants from weekly sales reports that franchisees submit to it. Jimmy John’s has not independently audited that information.
- Jimmy John’s has not made permanent, material changes to its franchise concept as a result of the COVID-19 pandemic.
Part 1 – AUVs for Franchised Covered Restaurants With and Without Drive-Thrus From 2019-2022
- The financial performance representations in Part 1 reflect the historical total annual average unit volumes for all of the 2019 Franchised Covered Restaurants, 2020 Franchised Covered Restaurants, 2021 Franchised Covered Restaurants, and 2022 Franchised Covered Restaurants (as defined below), separated by whether or not the franchised restaurant includes a drive-thru.
2019 Annual AUVs
- All 2019 Franchised Covered Restaurants: $753,355
- All 2019 Franchised Covered Restaurants With a Drive-Thru: $796,475
- All 2019 Franchised Covered Restaurants Without a Drive-Thru: $732,906
2020 Annual AUVs
- All 2020 Franchised Covered Restaurants: $766,166
- All 2020 Franchised Covered Restaurants With a Drive-Thru: $860,029
- All 2020 Franchised Covered Restaurants Without a Drive-Thru: $704,481
2021 Annual AUVs
- All 2021 Franchised Covered Restaurants: $918,058
- All 2021 Franchised Covered Restaurants With a Drive-Thru: $1,034,580
- All 2021 Franchised Covered Restaurants Without a Drive-Thru: $851,969
2022 Annual AUVs
- All 2022 Franchised Covered Restaurants: $907,848
- All 2022 Franchised Covered Restaurants With a Drive-Thru: $1,016,004
- All 2022 Franchised Covered Restaurants Without a Drive-Thru: $846,603
Part 2 – 2022 Covered Restaurants (Restaurants Open for Full Year)
- The financial performance representations in Parts 2 and 3 reflect the ongoing impact that COVID-19 and other factors have had on the AUVs of Jimmy John’s Restaurants during Jimmy John’s 2022 fiscal year, from January 3, 2022 until January 1, 2023 (the “2022 Fiscal Year”).
- There were 2,637 Jimmy John’s Restaurants operating as of January 1, 2023. 2,507 of these Jimmy John’s Restaurants (the “2022 Covered Restaurants”), comprised of 37 that Jimmy John’s affiliate owns and operates (the “2022 Affiliate-Owned Covered Restaurants”) and 2,470 that franchisees own and operate (the “2022 Franchised Covered Restaurants”), operated for Jimmy John’s entire 2022 Fiscal Year and did not close for any period during the 2022 Fiscal Year.
- The table below reflects the actual historical average and median unit volumes for the 2022 Covered Restaurants, the 2022 Franchised Covered Restaurants, and the 2022 Affiliate-Owned Covered Restaurants for the 2022 Fiscal Year.
- The 2022 Covered Restaurants do not include the 63 Jimmy John’s Restaurants that temporarily closed for any period during the 2022 Fiscal Year due to the global pandemic, weather, or protests, or the 67 Jimmy John’s Restaurants that first opened during the 2022 Fiscal Year, or the 88 Jimmy John’s Restaurants that permanently closed during the 2022 Fiscal Year, and all of these closed restaurants were open for at least 12 months before they closed.
All 2022 Covered Restaurants
- 2022 Annual AUV: $910,814
- Number and Percentage Exceeding Average: 1,113 / 44%
- Highest Unit Volume: $2,555,964
- Lowest Unit Volume: $172,031
- Median Unit Volume: $864,709
All 2022 Franchised Covered Restaurants
- 2022 Annual AUV: $907,848
- Number and Percentage Exceeding Average: 1,097 / 44%
- Highest Unit Volume: $2,555,964
- Lowest Unit Volume: $172,031
- Median Unit Volume: $862,272
All 2022 Affiliate-Owned Covered Restaurants
- 2022 Annual AUV: $1,108,819
- Number and Percentage Exceeding Average: 18 / 49%
- Highest Unit Volume: $1,871,775
- Lowest Unit Volume: $510,366
- Median Unit Volume: $1,057,426
Part 3 – 2022 Adjusted Covered Restaurants (Restaurants Partially Closed)
- The table below reflects the historical average and median unit volumes of not only the 2,507 Jimmy John’s Restaurants that operated for Jimmy John’s entire 2022 Fiscal Year and did not close for any period during the 2022 Fiscal Year, but also the additional 63 Jimmy John’s Restaurants that temporarily closed for any period during the 2022 Fiscal Year due to the global pandemic, weather, or protests.
- Of these 2,570 Jimmy John’s Restaurants (the “2022 Adjusted Covered Restaurants”), Jimmy John’s affiliate owns and operates 40 (the “2022 Adjusted Affiliate-Owned Covered Restaurants”) and franchisees own and operate the other 2,530 (the “2022 Adjusted Franchised Covered Restaurants”).
- This third financial performance representation reflects the actual historical average and median unit volumes for the 2022 Adjusted Covered Restaurants, the 2022 Adjusted Franchised Covered Restaurants, and the 2022 Adjusted Affiliate-Owned Covered Restaurants for the 2022 Fiscal Year.
All 2022 Adjusted Covered Restaurants
- 2022 Annual AUV: $900,045
- Number and Percentage Exceeding Average: 1,145 / 44%
- Highest Unit Volume: $2,555,964
- Lowest Unit Volume: $0
- Median Unit Volume: $857,272
All 2022 Franchised Adjusted Covered Restaurants
- 2022 Annual AUV: $897,405
- Number and Percentage Exceeding Average: 1,128 / 44%
- Highest Unit Volume: $2,555,964
- Lowest Unit Volume: $0
- Median Unit Volume: $852,635
All 2022 Affiliate-Owned Adjusted Covered Restaurants
- 2022 Annual AUV: $1,067,343
- Number and Percentage Exceeding Average: 18 / 46%
- Highest Unit Volume: $1,871,775
- Lowest Unit Volume: $167,014
- Median Unit Volume: $1,012,537
- Franchised Covered Restaurants are located in various types of structures (for example, strip malls, shopping centers, food courts, and free-standing buildings) and various types of venues (for example, college campuses, downtown areas, metropolitan areas, and suburban areas). Affiliate-Owned Covered Restaurants are located primarily on college campuses.
- The Covered Restaurants offer primarily the same products and services that Jimmy John’s expects new Jimmy John’s Restaurants to offer, and the Franchised Covered Restaurants receive primarily the same services from Jimmy John’s that it expects new franchisees to receive.
- The actual average and median unit volumes do not reflect the costs of sales, operating expenses, or other costs or expenses that must be deducted from the gross sales figures to obtain your net income or profit.
- Some outlets have sold this amount. Your individual results may differ. There is no assurance that you will earn as much.
Section VI – Jimmy John’s Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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