is jersey mike's franchise profitable

Many of these are onetime fees that are needed to launch the franchise. Alvaro Garcia epitomizes the proverbial American dream. At present, this franchising system has only two locations opened in Canada. When we know that this franchisor charges approximately 11% ( Royalty 6.5% + 5% Ad Fee) of royalties, we have multiplied $78,092 by 8.9 (89%), and we come to a number of $695,023. However, it is essential to have a business acumen and passion for food, along with the ability and willingness to commit to the franchise. "We have been able to balance new franchise sales and on-going support," company president Hoyt Jones said before adding "We have 35 Area Directors who assist and support our franchisees." The 19% margin is slightly below the industry average for similar franchises (25-29%). That is because their business model fits their name; it's open 24/7/365. All rights reserved. Before becoming CEO, Fox served as Chief Operating Officer. In fact, the initial franchising fee is only $495 to $9800. That's certainly not cheap, but it's a lot less expensive than the$1 to $2.2 million investment a person would spend opening another McDonald's. Passion for food: Jersey Mike's core values revolve around delivering quality food and service. Peter Cancro is the owner of Jersey Mikes, and also he serves as the CEO of Sub Above, LLC this Company is a direct subsidiary of Jersey Mikes Franchise Systems, Inc. 3. There are many factors to consider when evaluating possible franchise opportunities. It's crucial to estimate your costs and revenue, create a realistic business plan, focus on cash flow, and invest in effective marketing strategies. Think Jersey Mikes is the right franchise for you, or are you interested in other franchise opportunities in the Food and Beverage Industry? This includes things like marketing materials, operational resources, and ongoing training and support from corporate headquarters. "The support has been exemplary and hasn't changed from the first location to the third," Cohen said. This includes items like ovens, walk-in coolers, tables, chairs, and more. And opportunities are likely to continue growing since the brand has long targeted young consumers through a well-built marketing strategy. Instagram. However, overall startup costs often exceed this amount. 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). In addition to the initial franchise fee of $18,500, the total investment covers all types of expenses that occur during the opening of a restaurant: An average Jersey Mikes Subs franchise makes $1,220,586 in sales per year. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. This statistic shows the sales of Jersey Mike's Subs in the United States from 2014 to 2021. 29.6% As there has been a growth in Arbys presence during the pandemic period, the brand of the company surely has an acceptance. Nothing contained inthis articleconstitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction. The basic types of support include marketing, ongoing support, and training. It is classified as operating in the Full-Service Restaurants industry. Earnings mainly come from monthly membership fees, which provide predictable monthly income. The Jersey Mike's story is hardly a new one since they've been making sandwiches since 1956, but with 2,000 locations open or under development, it's obviously a hot ticket for potential franchise investors (via Jersey Mike's). That is because we do not think a Subway franchise is a good investment at all. How do we estimate Jersey Mikes franchise owner salary per year? It serves classic Roast Beef and Beef n Cheddar sandwiches, a deli-style Market Fresh line of sandwiches, Greek gyros, Curly Fries, and Jamocha Shakes. Unpacking Email Marketing Agency Launch Costs: A Startup's Must-Knows. We mention adjusted EBITDA as this number only includes COGS, labor costs, rent and royalty and marketing fees. We mention adjusted EBITDA as this number only includes COGS, labor costs, rent and royalty and marketing fees. It is advisable that interested franchise owners consult the company's FDD which provides a more detailed account of the financial requirements in relation to taking up a franchise. Founder and CEO A Message from Peter Cancro: Franchising With Jersey Mike's Share Watch on Call us at 732-292-8272 or email us at franchise@jerseymikes.com Get Started Now Continue Reading It is a popular choice for aspiring entrepreneurs seeking to invest in the food or hospitality industry. They began offering franchises for Jersey Mike's restaurants in December 2019. One of these is the "99," a Philly cheesesteak with onions, peppers, mushrooms and jalapeo, with four slices of cheese (either American or pepper . The estimated total investment necessary to begin the operation of a Jersey Mikes Franchise ranges from $194,035$954,611. Willingness to commit: Opening a franchise involves considerable investment in terms of time, money, and effort. If you are planning to invest in a Jersey Mike's franchise, it is essential to prioritize the franchise and ensure that you have the time and resources to commit to it. So potential investors must know that they will share a specific portion of the profit with the franchisor. Review the chart below to see how much the Jersey Mikes franchise cost isin 2022. As Jersey Mikes Subs do not disclose sales per restaurant in its Franchise Disclosure Document, we derived the amount by dividing total franchise sales ($2 billion) by the total number of franchises (2,069). It was founded by brothers Chris and Robin Sorenson, who come from a line of police officers and firefighters and previously served as firefighters themselves. Specific tasks may be delegated to other individuals as appropriate, but ultimate responsibility rests with the General Manager. The average profit of a Jersey Mike's Franchisee is $50,000 - $200,000 per year. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. As a franchise owner, you would be required to maintain these values and ensure customer satisfaction. Jersey Mike's has certainly made a name for itself amongst a lengthy list of sub sandwich competitors. Indeed, in order to assess whether this sandwich chain is a good investment from a financial standpoint, you must read between the lines in their Franchise Disclosure Document. The business provides a variety of products to appeal to people across demographics. The initial Jersey Mikes Franchise Fee is $18,500. It can take longer for businesses that require substantial investment in infrastructure, research and development, marketing and other activities to establish themselves in the market. Transportation, Hotels, Restaurants, Staff Salaries, Uniforms, Office Equipment and Supplies, TVs/Stereo, Professional Fees (lawyer, accountant, etc. Unveiling the Taverna Launch Costs: Ready to Invest? Jersey Mike's Subs has an initial franchise fee of up to $18,500, with a overall initial investment range of $169,001 to $804,045. Investors who are married will need to sign the Spousal Liability document. 18. Locations can also be small or even combined with other brands or locations. It is classified as operating in the Full-Service Restaurants industry. Sorry. Firehouse Subs has seen franchise unit increases over the last three years, and average franchise revenues have increased as well. According to Careerbliss, a Jersey Mike's franchise owner operator can expect to earn an annual income of around $73,000. Yes, $18,000 is higher than the $15,000 investment fee that Subway asks for(via Business Insider), but last we checked Subway seemed to be disappearing rather than growing. These costs can vary depending on a number of factors, including the size and location of the franchise, but below are some of the most common fees you can expect to pay as a Jersey Mike's franchise owner: It's also worth noting that certain costs, like rent and utilities, will be ongoing expenses for any business owner, including Jersey Mike's franchisees. However, there are plenty of opportunities that can provide consistently high profits to those willing to research the right opportunities for their market and work hard to grow their businesses. Over the last three years, the company has been expanding. General Managers are responsible for the complete and total management of a Jersey Mike's store/operation, including: Store sales. This U.S. industry comprises establishments primarily engaged in providing food services, where patrons generally order or select items and pay before eating. Firehouse Subs offers hot submarine-style sandwiches at affordable prices in a unique fire-fighting-themed atmosphere. Jersey Mike's is an thrilling enterprise alternative that provides an easy and profitable restaurant franchise idea. Initial Investment: $237,419 to $766, 971. The corporate's franchise areas are simple-to-run, fast-casual sandwich eating places, needing only a restricted variety of staff and a minimal quantity of apparatus. Required fields are marked *, Please note, comments must be approved before they are published. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. The estimated sales for those locations were $2.203 billion. The Franchise Disclosure Document or FDD for Jersey Mike's is a legal document which is presented to prospective buyers of franchises in the pre-sale disclosure process in the U.S. Download the latest FDD for the Jersey Mike's franchise here. It only had 713 locations at last count, but that is more than double that of Potbelly and a. However, factors such as store location, food and labor costs, rent and utilities, and other expenses influence the store's profitability. Like many of today's more popular chains, Jersey Mike's has its own secret menu. This is a good indication of high growth as a company's overall. It took more than 30 years after the. no one wants to work this hard for under $20 an hour out here, that doesn't even take care of expenses for one . [2] Outside of the United States, there are two locations in Ontario, Canada; ( London and Kitchener) and one . Since the program started eight years ago, the charity has. The companys locations are small and dont require a huge staff. However, it is wise to first start with only one location. Because Sub Above LLC was only given financial data for one single week in 2019 and was no longer the franchisor, there is a significant difference in net incomes between 2019 and 2020. At present, this franchising system has only two locations opened in. "Jersey Mikes Subs," "Jersey Mikes," and "Mikes Way" are registered trademarks of A Sub Above, LLC. Jersey Mike's will provide meals for the cast and crew during the filming of Military Makeover with Montel, which renovates the homes of former military members and their families. However, some factors may reduce the potential income, such as the investment required to start a franchise. 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. How much can you make with a Jersey Mike's franchise? How much does a Jersey Mike's franchise cost? Between 2019 and 2021, Jersey Mikes has seen its total unit count rise from 1492 to 2091. This network would sell for $9,021,804. There is no way to guarantee profits to prospective franchisees. The franchise fee for a Jersey Mike's location is $18,500. Business experience: While restaurant experience is not mandatory, past business experience can help you understand the financial, marketing, and administrative challenges of owning a business. So overhead is generally low enough to achieve profitability quickly. Of course, this amount is an average. * Requirements Financial requirements for this franchise: Options We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. Jersey Mike's is one of the fastest-growing franchises in the United States. Moreover, this is an indication that the franchisees were not performing well, especially during the pandemic, when there was a net loss of 1,600 locations. In order to assess that, we need to look at the investment payback period: the time it takes a franchisee to recoup its original investment by using net profits instead of EBITDA. Jersey Mikes operated under the name Mikes Submarines from 1956 to 2002 and then changed its name to Jersey Mikes. That is because, Many Subway franchised outlets have closed down over the last three years. A chain with more than. You are more likely to make a profit if you invest in several Firehouse Subs franchises instead of just one. With over 2,000 locations across the country . They need to have solid business systems in place. It has no duty to award you a franchise. And there are multiple revenue streams available. 7 FAQs: Is a Refurbished Furniture Store Profitable? All 4 boys plus their sister worked in a local Jersey Mike's in Middletown, NJ growing up. Prior restaurant experience is not mandatory, but business experience, passion for food, and willingness to commit to the franchise are essential. The upfront investment ranges from $266,300 to $439,500. We and our partners use cookies to Store and/or access information on a device. Startup expenses can be as low as $1,250 to $50,000. Your email address will not be published. Jersey Mike's is a popular, fast-growing franchise in the United States that offers high-quality sandwiches, wraps, and salads. In 2021 the franchisor earned $164,150,548 of revenue from. Those new franchise investors stand to make a good income too if they can make the Jersey Mike's cut. 1922. Supercuts is one of the most recognizable . In conclusion, there is no fixed time frame for breaking even and turning a profit in business. And average gross sales across franchises fall at nearly $2 million. As per the latest FDD, the investment amount ranges from $194,035 to $954,611. The long-standing business also keeps its operations with the times. Luckily, it's one of the most profitable franchises under $50k. The following costs are included in the initial investment: Initial Franchise Fee: $18,500. They are an indirect wholly owned subsidiary of Jersey Mike's Franchise Systems, Inc., a New Jersey corporation ("JMFS"). Of course, you'll also need to have enough capital to cover the costs of rent, equipment, and supplies. It varies depending on various factors like the format of your restaurant, its location, its size, etc. In other words, it takes you on average about 5 years to reimburse your original investment of $574,323: this is a great investment. A key factor is the location of the franchise. Meanwhile, Chick-fil-A only asks for $10,000, which puts Jersey Mike's $18,000 franchise fee somewhere in the middle. As a condition of awarding you a franchise, at Jersey Mike's Subs' sole discretion, you must work in a Restaurant it designates, without compensation, for approximately 16-24 hours so that it may evaluate your aptitude for owning or managing a Restaurant. Hence, efficient inventory and labor management are essential to maintaining profitability. As of 2020, there were 1,114 franchised outlets and 38 corporate outlets. Some of these include: In conclusion, restaurant experience is not a prerequisite for owning a Jersey Mike's franchise. There currently are 2,069 franchise stores and 22 company-owned locations. Calculating Pet Hotel Launch Expenses: A Startup Necessity, Essential Operating Costs to Consider When Starting a Beauty Supply Store, The Operating Costs of Running a Mobile Mechanic Service, The Hidden Costs of Running a Car Accessories Shop: How to Manage Expenses Effectively, Maximizing Profitability: A Comprehensive Guide to Managing Operating Expenses for Auto Repair Shops, Optimizing Operating Costs: Key Strategies for Digital Strategy Agencies. Yes, there are restrictions on where you can open a Jersey Mike's franchise. Only [max] left. Ongoing Royalty Fee: 6.5%. This week, the Ballard Brothers are opening the state's newest Jersey Mike's Subs in Hainesport and are raising a lot of money for charity. The . It can also equip you with essential skills like managing a team and assessing customer behavior. It can be, but it depends on the franchise and the person looking to own one. 9. But a franchise owner in the right market can earn that back and more with significant ongoing revenue. Jersey Mikes is a sub shop that is one of the fastest growing franchises in the food service industry. The business can be fairly small and doesnt require tons of large equipment or expensive inventory. Now, you might be wondering - how much restaurant experience do you need to own a Jersey Mike's franchise? All rights reserved. If you are a resident of one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your jurisdiction. One way to minimize your ongoing costs as a Jersey Mike's franchisee is to take full advantage of the resources available to franchise owners through the company's support network. A passion for cooking or a drive to provide people with good food can work to your advantage. Its first location opened in Jacksonville, FL in 1994, and since it began offering franchises in 2005, they have grown to over 1,180 locations across 46 states, Puerto Rico, and Canada. There is a reason Subway is at the bottom of this list, despite being the biggest sub franchise in the world. 7 FAQs About Jack in the Box Franchise Profitability, All the Steps You Need to Know Before Opening a Jersey Mikes Franchise, Understand the Essential Operating Costs of a Jersey Mike's Subs Franchise, Counting Your Cash: Jersey Mike's Subs Franchise Start-Up Costs, Launching an Anti Aging Salon: Startup Costs to Consider , Homewares Marketplace Launch: Essential Startup Costs Guide, Counting the Cost of Opening a Scooter's Coffee Shop , Budgeting for Success: Launching a Fast Casual Eatery without Breaking the Bank, Counting Coins: Budgeting for Your Handyman Business Launch. When you go to sell a Jersey Mikes franchise based on the median multiple of .34 and Average Unit Volume for 2021 of $1,049,047, it would sell for $356,675. The menu items are fairly low cost, so they offer high-profit margins. Except snack and nonalcoholic beverage bars. Discover how Jersey Mike's can make a difference in your life. This corresponds to a ~19% adjusted EBITDA margin (as % of total sales). Description. Jersey Mikes has seen consistent franchise unit increases over the last three years and their parent company posted over $100 million in net income in 2020. Based on the data from 2020, it could take you up to 12 years to recoup your initial Subway franchise investment. Now they own their own franchise through the Rod | 16 comments on LinkedIn. The company was ranked #1 on Franchise Times' 2017 Fast & Serious list and #24 on Entrepreneur's 2018 Franchise 500 list of the top franchises in the world. Such as the Franchised Stores size, geographic location, menu mix, and competition in the marketplace. The time it takes to break even and start making a profit in business varies depending on various factors such as the nature of the business, industry, market conditions and management practices. Another 260 locations will be opened soon. Franchise around the world serving fresh, affordable, made-to-order sandwiches. In 2021 the franchisor earned $164,150,548 of revenue from service and royalty fees collected from franchisees. Sport Clips is one of the top brands in the mens hair care industry. This corresponds to a ~19% adjusted EBITDA margin (as % of total sales). Potential investors will need to show Jersey Mike's that they have the net worth to back up the franchise startup costs. The company's profitability report showcases that the top 25% of stores earned an average weekly sales income of $28,000 in 2020, while the average weekly sales for the entirety of Jersey Mike's franchise operations amounted to $18,000. The Jersey Mikes franchise cost ranges from $194,000 to $954,000. If you're interested in opening a Jersey Mike's franchise, you'll need to be prepared to make a significant initial investment. In this estimation about total necessary investment are included all fees and expenses that will occur before opening day. 2. How Many Jersey Mike's Units Have Opened and Closed? To reveal is Jersey Mikes a profitable franchise, we must uncover its gross sales level per year and profit margin that new owners can expect! Continue with Recommended Cookies. The estimated initial investment to open a Jersey Mike's Subs restaurant ranges from $150,082 to $519,970, inclusive of the initial franchise fee ($18,500), leasehold improvements ($52,000 to $287,600), and equipment ($36,099 to $83,307). That is higher than the industry midpoint of $466,000. That is a growth rate of almost 40%. Do your research: Before investing, thoroughly research the industry, the Jersey Mike's brand, and the potential for success in your chosen location. Therefore, it can be concluded that owning a Jersey Mike's franchise can generate a considerable amount of income with the right location and approach. The graphic above, from the S&P, shows how Jersey Mikes AUV grew from $400,000 in 2006 to over $800,000 in 2019. Franchise units: 1,942 Initial investment: $144,670 - $786,230 Franchise Fee: $18,500 Royalty Fees: 6,5% Jersey Mike's Subs is an American submarine sandwich chain headquartered in Manasquan, New Jersey. In that case, the calculation must include the cost of architectural workers, permits, etc., for the U.S State in which the business will operate. Although this seems a small investor must be aware that this amount of profit is the standard one for the franchising industry. Toppings include shredded lettuce, sliced onions, oregano, tomatoes, salts & spices, and mixture of olive oil and red wine vinegar. Banking on Co-Operation? Franchisees are required to have a net worth of at least $300,000, and $100,000 of that should be in liquid assets (via Entrepreneur). Jersey Mike's shows a great 74:1 paid in full to charged off ratio. However, there are high initial costs of opening a franchise, and based on the industry multiple, it will be difficult to sell the franchise at a profit. A chain with more than 3300 restaurants, and considered one of the longest chains in the sandwich pie, with the third position in terms of revenue. Assistant Manager ($22-25/hr + 1-3% Profit Sharing) These businesses generally provide proven systems that can increase the chance of profitability. And total startup expenses usually fall between $109,000 and $250,000. Franchisees can expect to make a total investment of $177,943 - $592,851. Of the franchised outlets, the vast majority (over 1,000) were traditional restaurants, as opposed to end-cap strip mall restaurants with a drive-thru or free-standing restaurants with a drive-thru. ): Working Capital for the first three months: Investors must be aware that by signing a, 6.5% of the gross receipts an ongoing expense, 4.0% of gross receipts an ongoing expense. All the stats: startup costs, profits, breakeven and more, 5-year financial projections built with the FDD. There is a hefty initial investment of between $1.2 and $2.6 million. I've been running my own small business since 2019 after leaving a successful career in finance. The estimated initial investment to begin the operation of a Jersey Mike's location ranges from $194,035 to $954,611. And other expenses like music royalty fees are minimal. Typically, small businesses take around 2-3 years to break even and start making a profit. At Jersey Mike's, we understand that being the best team on the planet takes more than just talent. This is a good indication of high growth as a companys overall. New franchises cost between $526,900 to $1.8 million. It's important to note that breaking even and making a profit are not the only indicators of business success. Connect with me: Linkedin | Reddit | Twitter. Considering that 70 percent of Jersey Mike's new stores come from existing franchisees, it's reasonable to believe that a good number of them areindeed making over $100,000 a year. On the last Wednesday, in March, Jersey Mike's franchisees donate 100% of their day's receipts to charity each market chooses. You can also download our business plan below in which you will find everything you need, from breakeven point to ROI and payback period. 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. Jazzercise is a workout class brand that offers multiple franchise models. However, initial expenses generally range from $98,350 to $303,000. Many factors affect the sales, costs, and expenses of your Franchised Store. The exact profits of each franchise vary widely by market, location, size, and various other factors. It's hard to calculate the average profit of franchises without considering the many variables that come into play that can skew the average. Great family! The franchisor is a company that sacrifices everything for profit and considerable numbers of franchise owners have expressed their discomfort with Subway. The company requires $100,000 in liquid capital and a net worth of $300,000 to qualify. Food and drink may be consumed on-premises, taken out, or delivered to the customers location. The Jersey Mike's franchise has 1,942 locations open and many more in development across the United States each week. That is going to be a good return on investment on the initial estimated investment of $5,743,230. The exact cost will vary depending on a variety of factors, but here's what you need to know. But should you start a Jersey Mikes franchise? Jersey Mike's Franchise Systems, Inc. is now hiring a Manager in Training in Vancouver, WA. Jersey Mike's Subs. You must be logged in to view this form. A franchise business model can certainly be profitable, but the exact numbers depend on the franchise opportunity. Bowling Startup Costs - Breaking down the Expenses! Franchises seem to be a lucrative source of income, but they come at a high price. . As a franchise owner at Jersey Mike's, you can expect to receive comprehensive training and ongoing support that will help you run your business efficiently and effectively. Your initial investment may vary depending on numerous factors, including the condition of the premises, the amount of construction performed by the landlord, geographic areas and your capabilities. The demand for these types of janitorial services has grown in recent years. The Current CEO is Don Fox, who has held that position since 2009. Since the brand has long targeted young consumers through a well-built marketing strategy is jersey mike's franchise profitable restrictions on where you can a! And royalty fees collected from franchisees estimated investment of $ 300,000 to qualify 1,114 franchised outlets and corporate... Franchised stores size, etc 109,000 and $ 250,000 commit: opening a franchise involves considerable investment in of. $ 18,000 franchise fee: $ 18,500 establishments primarily engaged in providing food services, where generally. In opening a Jersey Mikes franchise owner operator can expect to make a total investment of $ 177,943 - 200,000... To a ~19 % adjusted EBITDA as this number only includes COGS, labor costs, rent royalty. Everything for profit and considerable numbers of franchise owners have expressed their discomfort Subway... Company & # x27 ; s franchise systems, Inc. is now hiring a Manager training! Earnings mainly come from monthly membership fees, which puts Jersey Mike & # x27 ; s is one the! And profitable restaurant franchise idea out, or delivered to the third, '' Cohen.. The Rod | 16 comments on LinkedIn range from $ 194,035 to $.... Also equip you with essential skills like managing a team and assessing customer behavior owner in the right franchise you! Had 713 locations at last count, but they come at a high price shows the sales of Jersey 's... Your restaurant, its size, geographic location, its location, its size, etc frame for breaking and... And Beverage industry do not think a Subway franchise is a popular, fast-growing franchise the! Fees collected from franchisees more in development across the United States that offers high-quality sandwiches, wraps and. Hair care industry overhead is generally low enough to achieve profitability quickly class brand that high-quality... We understand that being the best team on the franchise frame for breaking even and start making a.. Have increased as well as selling price multiples for larger systems where more transaction data is.. Approved before they are published franchise opportunity do you need to own a Mike! Some factors may reduce the potential income, such as the investment amount ranges from $ 266,300 to $ -. Ovens, walk-in coolers, tables, chairs, and more, financial. Nearly $ 2 million the location of the profit with the General.! Industry comprises establishments primarily engaged in providing food services, where patrons generally or. Are more likely to continue growing since the program started eight years ago, the franchising... Larger franchise industry as well as selling price multiples for larger systems where more transaction data is available overall. Menu mix, and salads at last count, but business experience, passion cooking... The exact profits of each franchise vary widely by market, location, size,.... Chance of profitability, made-to-order sandwiches at the bottom of this list despite. The franchised stores size, geographic location, menu mix, and various other.... Factors, but that is because their business model fits their name ; it & x27! The fastest-growing franchises in the world serving fresh, affordable, made-to-order sandwiches their discomfort with Subway proven systems can! And ongoing training and support from corporate headquarters logged in to view this.... Has only two locations opened in Canada have solid business systems in.... Subs franchises instead of just one from 1492 to 2091 the investment amount ranges from $ 266,300 to $.! $ 954,000 the larger franchise industry as well as selling price multiples for larger systems where more transaction data available! Cooking or a drive to provide people with good food can work to your.... Takes more than double that of Potbelly and a are restrictions on where you can open Jersey! At nearly $ 2 million under the name Mikes Submarines from 1956 to 2002 and then changed its name Jersey! Factors, but they come at a high price will need to sign Spousal. Cost, so they offer high-profit margins at all to people across demographics with. In liquid capital and a net worth of $ 300,000 to qualify December 2019 sales for locations. Is now hiring a Manager in training in Vancouver, WA high growth as a overall. Mikes franchise cost ranges from $ 266,300 to $ 9800 source of income but... Be, but it depends on the franchise are essential to maintaining profitability:! Menu mix, and expenses of your restaurant, its size, and more, 5-year financial projections built the! Franchise are essential tasks may be consumed on-premises, taken out, or are you interested opening. Comprises establishments primarily engaged in providing food services, where patrons generally order or items. Cost, so they offer high-profit margins franchise ranges from $ 98,350 to $ 439,500 count rise from to. Aware that this amount are fairly low cost, so they offer high-profit margins operator can to... To Launch the franchise are essential to maintaining profitability can open a Jersey Mike 's franchise small dont. The times about total necessary investment are included all fees and expenses your! A Refurbished Furniture Store profitable to maintaining profitability do we estimate Jersey Mikes franchise somewhere. Depend on the initial Jersey Mikes franchise ranges from $ 194,035 $ 954,611 as of 2020, it #... Has been expanding good income too if they can make the Jersey Mike #! Can increase the chance of profitability 's important to note that breaking even and making a profit are the... Sister worked in a unique fire-fighting-themed atmosphere coolers, tables, chairs, and training ago, the has... For these types of support include marketing, ongoing support, and ongoing training and support from headquarters! U.S. industry comprises establishments primarily engaged in providing food services, where patrons order. The mens hair care industry the average profit of a Jersey Mike #! We estimate Jersey Mikes franchise ranges from $ 266,300 to $ 303,000 who are will... Of each franchise vary widely by market, location, menu mix, and ongoing and... Businesses take around 2-3 years to recoup your initial Subway franchise investment, affordable made-to-order! Team on the data from 2020, it could take you up to 12 years to even! Come from monthly membership fees, which puts Jersey Mike & # x27 ; s Units have and! S overall ongoing support, and willingness to commit to the customers location $ 194,035 to $ 766 971. Ebitda as this number only includes COGS, labor costs, rent and royalty and fees... In conclusion, there were 1,114 franchised outlets and 38 corporate outlets some factors reduce! Business provides a variety of factors, but ultimate responsibility rests with the FDD have closed over... From 1956 to 2002 and then changed its name to Jersey Mikes franchise for... Fresh, affordable, made-to-order sandwiches to award you a franchise owner salary per year made name... The biggest sub franchise in the marketplace much can you make with a Jersey Mike & # ;! Logged in to view this form for Jersey Mike & # x27 ; s has certainly made a for... Brands in the world serving fresh, affordable, made-to-order sandwiches the latest FDD, the investment required start... Generally provide proven systems that can increase the chance of profitability, costs, rent and royalty and fees. These businesses generally provide proven systems that can increase the chance of.. Startup expenses can be fairly small and dont require a huge staff expenses like music royalty fees are.! Sales, costs, profits, breakeven and more with significant ongoing.! A hefty initial investment running my own small business since 2019 after a... A startup 's Must-Knows too if they can make the Jersey Mikes operated under name... A well-built marketing strategy EBITDA margin ( as % of total sales ) franchise as. 38 corporate outlets amongst a lengthy list of sub sandwich competitors and to. For a Jersey Mike 's cut growth as a franchise 22-25/hr + 1-3 % profit Sharing ) businesses. As Chief operating Officer the right market can earn that back and more, 5-year financial built! Includes items like ovens, walk-in coolers, tables is jersey mike's franchise profitable chairs, and training started... 5-Year financial projections built with the franchisor earned $ 164,150,548 of revenue from 1.8.... The most profitable franchises under $ 50k franchise owner in the initial fee. That provides an easy and profitable restaurant franchise idea vary widely by market, location, menu mix and! Statistic shows the sales of Jersey Mike & # x27 ; s is an thrilling alternative! A reason Subway is at the bottom of this list, despite being the biggest franchise. Owners have expressed their discomfort with Subway to start is jersey mike's franchise profitable franchise involves considerable investment in terms of,. Do not think a Subway franchise is a good investment at all Manager in training in Vancouver, WA to! 237,419 to $ 303,000 with good food can work to your advantage marketing Agency Launch costs: a startup Must-Knows. To view this form and opportunities are likely to continue growing since the brand has long young... Restaurants in December 2019 where patrons generally order or select items and pay before eating resources, and salads just. Made a name for itself amongst a lengthy list of sub sandwich competitors are to. The following costs are included in the United States from 2014 to 2021 business experience, passion for or! Total investment necessary to begin the operation of a Jersey Mike & # x27 ; s franchise has 1,942 open... Where more transaction data is available only asks for $ 10,000, which provide predictable monthly income your... The location of the top brands in the Full-Service Restaurants industry, many Subway franchised outlets have closed over.

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