In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Jersey Mike’s Subs franchise, based on Item 7 of the company’s 2024 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Jersey Mike’s Subs franchise, based on Items 5 and 6 of the company’s 2024 FDD
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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. A franchise specialist will be in touch to present what's available.Section III – Number of franchised and company-owned Jersey Mike’s Subs outlets at the start of the year and the end of the year for 2021, 2022, and 2023, based on Item 20 of the company’s 2024 FDD
Section IV – News updates on the Jersey Mike’s Subs franchise opportunity
Section V – Presentation and analysis of Jersey Mike’s Subs’ financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2024 FDD, including information on the:
- 2021, 2022, and 2023 average, median, high, and low unit volume for the franchised traditional Jersey Mike’s Subs restaurants that were open for more than 360 days during the applicable year
- 2021, 2022, and 2023 average, median, high, and low unit volume for the franchised and licensed non-traditional Jersey Mike’s Subs restaurants that were open for more than 360 days during the applicable year
- 2021, 2022, and 2023 average, median, high, and low unit volume for the company-owned traditional Jersey Mike’s Subs restaurants that were open for more than 360 days during the applicable year
Section VI – Key ratios, comparables, computations, and analyses for the Jersey Mike’s Subs franchise opportunity (exclusive content for Platinum subscribers)
Section I – Jersey Mike’s Subs Franchise Costs
- Jersey Mike’s Subs franchise costs, based on Item 7 of the company’s 2024 FDD:
- Initial Franchise Fee: $18,500
- Real Estate and Construction Fee: $5,000
- Rent/Lease/CAM/Taxes/Lease and Utility Security Deposits: $0 to $57,069
- Architectural Fees: $2,125 to $25,979
- Leasehold Improvements: $101,200 to $586,363
- Equipment/Furniture/Small Wares: $27,991 to $243,152
- Initial Inventory: $2,698 to $37,850
- Insurance: $1,000 to $9,800
- Training: $1,000 to $68,000
- Grand Opening Advertising: $12,500
- Exterior Signage: $2,145 to $52,978
- Interior Branding/Graphics: $1,610 to $14,470
- Uniforms, Office Equipment and Supplies, TVs/Stereo System/Security System: $1,000 to $70,639
- POS System: $5,064 to $29,598
- POS System Connection to Private Network: $4,000
- POS License Fee: $2,000 to $4,000
- Professional Fees (lawyer, accountant, etc.): $250 to $34,107
- Business Licenses and Permits: $500 to $28,000
- Additional Funds for 3 Months: $15,000
- Total Estimated Jersey Mike’s Subs Franchise Costs: $203,583 to $1,317,005
Section II – Jersey Mike’s Subs’ Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Jersey Mike’s Subs’ initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2024 FDD:
- Initial Franchise Fee: $18,500
- Continuing Royalty Fees: 6.5% of Gross Receipts for a standard Franchise Agreement
- Corporate Advertising and Development Fund: currently, 1.0% of Gross Receipts
- Cooperative Advertising: currently not required
- National Media Fund: 4.0% of Gross Receipts
Section III – Number of Franchised and Company-Owned Jersey Mike’s Subs Outlets
Franchised
2021
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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, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
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- Outlets at the End of the Year: 2,069
- Net Change: +273
2022
- Outlets at the Start of the Year: 2,069
- Outlets at the End of the Year: 2,361
- Net Change: +292
2023
- Outlets at the Start of the Year: 2,361
- Outlets at the End of the Year: 2,647
- Net Change: +286
Company-Owned
2021
- Outlets at the Start of the Year: 51
- Outlets at the End of the Year: 22
- Net Change: -29
2022
- Outlets at the Start of the Year: 22
- Outlets at the End of the Year: 26
- Net Change: +4
2023
🎯Find Best-Fit Franchises Still Available in Your Target Area (Free Tool)
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, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, 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. A franchise specialist will be in touch to present what's available.- Outlets at the Start of the Year: 26
- Outlets at the End of the Year: 28
- Net Change: +2
Section IV – News Updates on the Jersey Mike’s Subs Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Jersey Mike’s Subs Franchise (Item 19, 2024 FDD)
- The unit volume figures are derived from all Restaurants’ POS system reports for the 12-month periods of January 1, 2021 through December 31, 2021, January 1, 2022 through December 31, 2022, and January 1, 2023 through December 31, 2023, excluding Non-Traditional Locations that do not use Jersey Mike’s POS system.
- The numbers in the above financial performance representations, and the numbers used in the underlying calculations, were rounded to the nearest dollar or whole number.
Part 1 – Franchisees’ Restaurants (Traditional Locations)
2021
- Average Unit Volume: $1,158,921
- High Unit Volume: $2,426,536
- Median Unit Volume: $1,111,859
- Low Unit Volume: $455,021
2022
- Average Unit Volume: $1,220,974
- High Unit Volume: $2,476,520
- Median Unit Volume: $1,177,399
- Low Unit Volume: $429,165
2023
- Average Unit Volume: $1,302,781
- High Unit Volume: $3,793,060
- Median Unit Volume: $1,272,804
- Low Unit Volume: $492,695
Part 2 – Franchisees’ and Licensees’ Restaurants (Non-Traditional Locations)
2021
- Average Unit Volume: $1,340,564
- High Unit Volume: $2,318,420
- Median Unit Volume: $1,236,248
- Low Unit Volume: $548,263
2022
- Average Unit Volume: $1,183,149
- High Unit Volume: $1,956,651
- Median Unit Volume: $1,048,330
- Low Unit Volume: $522,799
2023
- Average Unit Volume: $1,324,408
- High Unit Volume: $2,020,633
- Median Unit Volume: $1,242,366
- Low Unit Volume: $632,633
Part 3 – Company-Owned Restaurants (Traditional Locations)
2021
- Average Unit Volume: $1,063,283
- High Unit Volume: $1,213,978
- Median Unit Volume: $1,044,268
- Low Unit Volume: $921,492
2022
- Average Unit Volume: $1,331,317
- High Unit Volume: $2,619,325
- Median Unit Volume: $1,262,637
- Low Unit Volume: $757,839
2023
- Average Unit Volume: $1,503,688
- High Unit Volume: $2,963,641
- Median Unit Volume: $1,483,970
- Low Unit Volume: $837,045
- “Unit Volume” means Gross Receipts.
- Jersey Mike’s Restaurants that were not open for more than 360 days during the applicable year were not included in the above Unit Volume financial performance representations.
- For the year ended 2021, of the 897 reporting Traditional Location franchisees, 415 met or exceeded the stated Average Unit Volume for Traditional Locations, or 46% of these franchisees. Of the 4 reporting Non-Traditional franchisees or licensees, 2 met or exceeded the stated Average Unit Volume for Non-Traditional Locations, or 50% of these franchisees/licensees. Of the 10 reporting Company-Owned locations, 5 met or exceeded the stated Average Unit Volume for Company-Owned locations, or 50% of these Company-Owned locations.
- For the year ended 2022, of the 1,524 reporting Traditional Location franchisees, 693 met or exceeded the stated Average Unit Volume for Traditional Locations, or 45% of these franchisees. Of the 6 reporting Non-Traditional franchisees or licensees, 3 met or exceeded the stated Average Unit Volume for Non-Traditional Locations, or 50% of these franchisees/licensees. Of the 12 reporting Company-Owned locations, 4 met or exceeded the stated Average Unit Volume for Company-Owned locations, or 33% of these Company-Owned locations.
- For the year ended 2023, of the 2,138 reporting Traditional Location franchisees, 980 met or exceeded the stated Average Unit Volume for Traditional Locations, or 46% of these franchisees. Of the 9 reporting Non-Traditional franchisees or licensees, 4 met or exceeded the stated Average Unit Volume for Non-Traditional Locations, or 44% of these franchisees/licensees. Of the 25 reporting Company-Owned locations, 12 met or exceeded the stated Average Unit Volume for Company-Owned locations, or 48% of these Company-Owned locations.
- Non-Traditional Locations are Jersey Mike’s Restaurants operating in airports, casinos, arenas, hospitals, military installations, schools, stadiums, ghost kitchens, and similar venues. Some Non-Traditional Locations operate under License Agreements with Jersey Mike’s instead of Franchise Agreements.
- Company-Owned Restaurants are Jersey Mike’s Restaurants owned and operated by affiliates of Jersey Mike’s pursuant to License or Franchise Agreements with Jersey Mike’s.
- The Unit Volume figures are derived from the actual historical performance (based on POS system reports) of:
- (i) (a) 897 of the 897 franchisees with Traditional Locations who operated their Jersey Mike’s Restaurants for more than 360 days in 2021, (b) 1,524 of the 1,524 franchisees with Traditional Locations who operated their Jersey Mike’s Restaurants for more than 360 days in 2022, and (c) 2,138 of the 2,138 franchisees with Traditional Locations who operated their Jersey Mike’s Restaurants for more than 360 days in 2023;
- (ii) (a) 4 of the 23 franchisees/licensees with Non-Traditional Locations who operated their Jersey Mike’s Restaurants for more than 360 days in 2021, (b) 6 of the 26 franchisees/licensees with Non-Traditional Locations who operated their Jersey Mike’s Restaurants for more than 360 days in 2022, and (c) 9 of the 32 franchisees/licensees with Non-Traditional Locations who operated their Jersey Mike’s Restaurants for more than 360 days in 2023; and
- (iii) (a) 10 of the 10 Company-Owned Restaurants who operated their Jersey Mike’s Restaurants for more than 360 days in 2021, (b) 12 of the 12 Company-Owned Restaurants who operated their Jersey Mike’s Restaurants for more than 360 days in 2022, and (c) 25 of the 25 Company-Owned Restaurants who operated their Jersey Mike’s Restaurants for more than 360 days in 2023.
- Your Jersey Mike’s Restaurant may also differ from the Restaurants included in the preceding financial performance representation based on characteristics such as, but not limited to, the geographic area in which the Restaurants are located, the market, degree of competition, and the length of time operating.
- Some franchisees have sold these amounts. Your individual results may differ. There is no assurance that you will sell as much.
Section VI – Jersey Mike’s Subs Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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