Why do we insist on making our sub sandwiches the same way weve been making them since 1956? Weve analyzed the advantages and challenges of this franchise so you know what to expect. Franchise Direct's reputation for integrity in the franchise industry has been established over our 20+ years in business. Take our franchise quiz to find out if Jersey Mikes is right for you. This means every time you sell a sandwich, the corporate entity is taking 5% off the top just for marketing. Franchisees will not receive an exclusive territory. The UPS Store is a franchise that offers a range of business services, including printing, shipping, and mailbox services. How about a former customer or employee? The last advantage we want to talk about is their training program. This is one of the best franchises for women, passionate about education and helping children succeed in math. 12 Cheapest Restaurant Franchises With Low Total Investment, The True Franchise Cost Breakdown of Baskin Robbins, The Top 8 Most Expensive Franchises to Buy. The estimate of the average revenue per store is $1.3 million. Additionally, the company is a member of the International Franchise Associations VetFran program, which offers additional incentives and support to veterans who want to own a franchise. The Maids is also Mr. Cleans official partner and offers customized cleaning plans for every homeowner. If franchisees are interested in obtaining a loan guaranteed by the United States Small Business Administration, Jersey Mikes is listed on the Franchise Registry, which means applicants will receive expedited loan processing though the SBA. Why is that? The last few steps involve a meeting with company executives. Franchisees are prohibited from offering for sale, selling or providing at the franchised restaurant or the premises any other category of products and from using the premises for any purpose other than the operation of a franchised restaurant. Presently, Jersey Mikes has over 2,000 locations nationwide. If franchisees are opening their first franchised restaurant, the training requirements are as follows: (1) three individuals (Trainees 1, 2, and 3) must complete Phase 1, (2) one individual (Trainee 1 or 2) must complete Phase 2, and (3) two individuals (Trainees 1 and 2) must complete Phase 3. To add more franchises, please uncheck selections in your request info basket. As per the latest FDD, the investment amount ranges from $194,035 to $954,611. Well trained owners and managers operate better stores and help us protect the Jersey Mikes brand. This is the cost of getting started with the franchise and it covers the use of the name and logo. General Contractor and Architect Approval, Operation of the Franchised Restaurant in Case of the Franchisees Absence, Incapacity or Death. Are you interested in serving delicious, made-from-scratch chicken salad and other Southern-inspired dishes? Franchise Gator Top 100 (2017); Franchise Gator Fastest Growing (2017), Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District Of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming. It will help you by bringing back customers again and again to satisfy their craving for authenticity. 12 Cheapest Franchise Opportunities To Open And Own In 2022. Cancro still serves as the CEO of the company and he remains involved in its operations. Especially since it is a smaller company with less than 1,000 store locations and room for expansion. 6.5% of gross receipts for a standard franchise agreement. A large dala horse. Yes, I have $50K available in my 401K/IRA and would like to learn how to use these funds to buy a business with the help of Guidant Financial Group. Save my name, email, and website in this browser for the next time I comment. Is the Christian Pizza Ranch Franchise Really Worth Investing In? The company also requires $100,000 in liquid capital and a net worth of $300,000 to qualify. Of course, there is no guarantee of success in any business venture. Finally, the third option is the Boxed Lunches, best for fun, outdoor activities because aside from subs, it includes drinks, chips, and cookies. Depending on the real estate availability, a typical timeline looks somewhere between 3 to 6 months. If youre a veteran, for example, you can find other franchises that offer discounts and certain benefits, but Jersey Mikes does not offer such programs. There is an initial franchise fee of $18,500 which grants you the license to run a business under the Jersey Mike's Submarines & Salads name. The initial investment required to become a franchisee ranges from $82,000 to $118,000, which includes everything from equipment and training to ongoing support from the franchisor. The square footage of the store and location are variable cost factors as well. Candidates for the Coach Rod Smith Program will be managers of existing Jersey Mikes restaurants nominated by senior management of JMFS. Integrating into the community is an essential part of Mikes Way to Success! Initial Franchise Fee: $18,500. Should You Open a Wahlburgers Franchise w/ Locations Closing? Individual Unit Costs Initial Investment: $169,001-$804,085 Initial Franchise Fee: $18,500 Be the first to know! You can learn more about Jersey Mikes ideal operator. Fill out the form today! Another risk you should be aware of before joining the team. Jersey Mikes started its journey in 1956 when it was called Mikes Subs at first. service. Please send me emails about other franchises I should know about. Thats why we want only the right candidates to help us grow our brand. Jersey Mikes is a relatively small quick service restaurant when compared to other stores, but they are a fast-growing chain with lots of talent. Jersey Mike's Subs has the franchise fee of up to $18,500, with total initial investment range of $178,523 - $746,342. Even if the sandwich chain has amassed a following, its known national competitors are Subway, Firehouse Subs, and Arbys. And most of these restaurants attribute their growth to the franchising model, which has given them huge leaps to success. Franchisees are prohibited from installing or maintaining on the premises any food racks or other sales and promotional items and materials not authorized by the franchisor, and they are prohibited from installing or maintaining newspaper racks, juke boxes, gum machines, games, rides, vending machines or other similar devices on the premises. The estimated total investment ranges from $11,800 to $21,000. 2251 Landmark Pl. Now that we talked about the financial requirements, fees, and ongoing expenses, lets move into the fun stuff the sales and revenue of these stores. Here, the franchisor will provide loans to aid with capital. To buy a franchise with Jersey Mike's, you'll need to have at least liquid capital of $100,000. Territory Granted: Franchisees may operate the franchised restaurant only at the location specified in the Franchise Agreement. The Rumble Boxing, Would you like to make a name for yourself while playing a more meaningful role in your community? The franchisors in house counsel fee shall be charged at a rate of $300 per hour. Its why we get involved in local causes. This is the one of the most ideal franchises for women who want access to a successful business model. While there is no guaranteed income for franchise owners, with careful planning and hard work, it is certainly possible to achieve financial success as a Jersey Mikes franchise owner. The sandwich chain also mentioned that those interested should be or have at least these: The franchisor will conduct the training for the franchisee or principal, or the manager. It has been in business for over 40 years, providing a range of services to both residential and commercial customers. Wow, glad you're interested in so many businesses! They care for their workers experience and want to deliver their best to the customer. To open a franchise, you need a liquid capital of $100,000, a net worth of $300,000, and be able to pay the franchise fee of $18,500. An ex-Fortune 500 executive? See all (1) Enhance this page - Upload photos! They believe that well-trained owners, management, and workers operate stores more effectively. Pop-A-Lock is the United Statess largest group of locksmiths, offering 24/7 service across the country. Companies charge an advertising fee to support their marketing endeavors including television, radio spots, direct mail, and online advertising. For first-time franchisees, they will have to complete three training phases: Additional training programs may be required as needed. Some of their services are roadside assistance, key duplication, damage-free lockout services, electronic home locks, etc. Our training program requires three times the hands-on experience than many franchise systems. This can take as little as 6 months to over 2 years depending on the franchise opportunity. In addition, there is an initial franchise fee of $50,000 to $300,000. Franchisees must pay their expenses as well as their employees expenses in attending these programs. Any franchisee that will launch a franchise will have an initial ten-year term to run it. This includes everything from training and support to marketing and technology. Finally, youre ready to open up your next franchise. Manasquan, NJ 08736, USA, Interested? Click here to get a new food business case study with revenue numbers delivered each week. All Rights Reserved. ServiceMaster franchise can be an excellent opportunity for veterans looking for a business with a proven model, comprehensive training and support, and the flexibility to work from home. Here is a breakdown for your clarity. And seeing the success Jersey Mikes brought, Cancro and his former wife, Linda, expanded the business by opening more stores. Nothing in the article constitutes professional and/or financial advice, nor does any information in the email constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. Franchising offers an attractive path to entrepreneurship for military veterans. Our E-Commerce Future Partner Program is your ticket in! Thank you for your interest. In 1971, Peter Cancro bought Jersey Mikes and became the owner. Our business model, which offers a balanced lifestyle, allows our owners the wherewithal to support important causes in their community and the flexibility to have a family life outside the restaurant. This process will take 3 4 months to complete. Of course, youll also need to have enough capital to cover the costs of rent, equipment, and supplies. $75 per hour, plus expenses. Most of our owners have restaurant experience, but certainly not all. Franchising can be an excellent opportunity for women entrepreneurs to break the glass ceiling and achieve their business goals. At the moment we can not connect you to the representative of this franchise. One could be the location as cities tend to have more traffic (gross revenue), but more cost for the lease is also higher. It consists of both classroom and simulated training. The Jersey Mike's franchise has almost 1,300 locations open and about 70 more in development across the United States. Franchisees will offer for sale, use and provide at the franchised restaurant all types of sandwiches and other categories of food products that the franchisor authorizes. Chem-Dry offers a 10% discount on the initial franchise fee for veterans, making it more affordable to start a business. Try these five franchise options if youre looking for the most lucrative side hustle business with reasonable investment costs. Franchisees can also be chosen for the program, and if they are, they can pay back the loan in five years. The franchisors in house counsel fee shall be charged at a rate of $300 per hour. Essential document for potential franchisees or buyers of a . As a 7-Eleven franchisee, veterans can work for themselves and set their own schedules. Five owners and their restaurants share the honor of having the 1000th restaurant opened on October 14. We don't share our mailing list. Nothing contained on this site constitutes a solicitation, recommendation, endorsement, 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. Net-worth Requirement: $300,000 Rent/lease CAM and utility security deposits. With over 2,000 locations across the country, Jersey Mikes has become a popular choice for those looking to start their own sandwich shop. Experience hands-off Amazon stores that effortlessly generate passive returns every month, taking advantage of Amazons. Your email address will not be published. Call us at 732-292-8272 or email us at franchise@jerseymikes.com. It has a relatively low startup cost and ongoing support from the franchisor. You can rely on RooterMan for its same-day service, even for non-emergency calls. In 2010, Jersey Mikes was awarded the Best Sub Sandwich by the press. Is it an experienced restaurateur? The initial franchise fee is $25,000. We build, manage and scale Amazon FBA stores for our clients who are looking for a completely automated stream of passive income. Year of FDD: 2022. Keep in mind, you should also allocate additional funds to live off of while the Jersey Mike's business ramps up. Becoming a franchisee of 100% Chiropractic requires a significant investment, with an initial investment ranging from $331,000 to $695,000. When it comes to travel agencies, Dream Vacations is a cheap franchise option. This lets you run the business on your own schedule. Culture: Why Giving Works. I invite you to review the following pages and videos to explore what so many other people have discovered about this exciting business opportunity. Rate is subject to change. They are not a common household name like McDonalds yet, but their smaller popularity can also have its advantages. 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