Jersey Mike's franchise fees for 2023: Initial Franchise Fee: $18,500 Initial Investment: $144,668 - $786,233 Net Worth Requirement: $300,000 Cash Requirement: $100,000 Royalty Fee: 6.5% Ad Royalty Fee: 5% Term of Agreement: 10 years Is Jersey Mike's a Semi Absentee Franchise with a Passive Ownership Opportunity? While we're in the business of lugging junk, our franchisees are thrilled to be a part of something much bigger - a, Uprise Automation is more than a proof of concept. The company provides franchisees with all the tools and resources they need to start and grow their business, including a customized business plan, software, and ongoing support. Our training program requires 8-10 weeks of classroom training and in-store experience immediately sets the bar high for operational excellence. It provides a proven business model, established brand recognition, and ongoing support from a franchisor. Since 1985, the founder Randy Slechta has proven his experience and service in the leadership industry. Operation of the Franchised Restaurant in Case of Franchisees Default. But with careful planning and hard work, it is certainly possible to achieve financial success as a Jersey Mikes franchise owner. Franchisees can expect to make a total investment of $177,943 - $592,851. 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. $0.2921 per transaction and 3.74% of the sale of each such transaction. A reported 70% of Jersey Mikes franchise owners already owned existing franchises. Their subs include lettuce, onions, tomatoes, vinegar oil, and spices. Since 2020, the franchise added 190 units, which is an 11.4% increase over the year before. When the founder of a franchise company actually runs a store for years, the result is a different kind of company culture: one that is completely focused on store-level profitability and franchisee success; a culture that offers a balanced lifestyle. A provider of custom window coverings and home dcor solutions, Budget Blinds is an excellent fit for women entrepreneurs interested in the home improvement industry. There are additional smaller fees such as fees for training, audits, technology services, etc, that youll want to pay attention to. Someone who has already been successful with another fast casual or QSR concept? Overall, owning a Jersey Mikes franchise can be a profitable business venture. And if youre looking for a different side hustle franchise that involves cleaning, RooterMan is a household name in the industry. The minimum investment amount required to open a Jersey Mike's franchise is $194,035 and can go all the way up to $954,611. Finally, the third option is the Boxed Lunches, best for fun, outdoor activities because aside from subs, it includes drinks, chips, and cookies. Interested parties should have at least $100,000 in liquid capital to invest. For starters, they probably wont have to compete much with other Jersey Mikes chains since they are still up and coming. 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. Since then, the company has expanded its business to thousands of locations around the country. Find the travel option that best suits you. But if franchisees plan on renewing their franchise term, franchisors can grant an additional ten year term. The franchisee should also only sell the products approved by the franchisor and cannot sell other unrelated products. Jersey Mike's 2023 FDD. You can expect their training program to prepare you and get you ready for your first day. However, you can establish a business instead of finding another nine-to-five that will burn precious daily hours. The Jersey Mike's Business Model. Candidates for the Coach Rod Smith Program will be managers of existing Jersey Mikes restaurants nominated by senior management of JMFS. We have real results, real physical products, with real margins. Estimated initial investment: $11,800 to $21,000. I invite you to review the following pages and videos to explore what so many other people have discovered about this exciting business opportunity. Compare the profit you are seeking to comparable businesses in your area. Military veterans have a unique set of skills and experiences that can make them successful business owners. Its proven business model provides extensive training and support to its franchisees, making it a good fit for veterans looking to start their own businesses. Take Our 7-Minute Franchise Business Quiz! The company participates in the VetFran program, which offers additional discounts and incentives to veterans who want to start a franchise business. The franchises for women mentioned above offer a range of industries and investment levels, making it easier to find a franchise that fits their skills, interests, and budget. With over 2,000 locations across the country, Jersey Mikes has become a popular choice for those looking to start their own sandwich shop. Should You Open a Wahlburgers Franchise w/ Locations Closing? Jersey Mikes also offers wraps and for those on the go, the franchise offers convenient drive-thru service. HealthyYOU Vendingblends an, We build and scale Amazon stores for our clients by helping automate all inventory management tasks from account health monitoring to 24/7 customer service. Check out Franchise How to learn more. Cancro still serves as the CEO of the company and he remains involved in its operations. To open a Jersey Mike's Franchise you need to keep certain requirements in consideration. The company has since grown to thousands of locations across the United States. We provide our customers with the freshest, highest quality sub sandwiches available, prepared right in front of them and served with energy and enthusiasm. Plus, youll enjoy working from home and getting travel perks and discounts. Phase 2, held at the franchisors training center located in Point Pleasant, New Jersey, consists of a minimum of five days, to a maximum of 14 days, 4.25 9.5 hours per day, of classroom and simulated training. They rolled out gluten-free rolls nationwide in 2017; the sandwich chain started offering them to California stores to test it out. Get Started Now Continue Reading. Rate is subject to change. Whether youre in the mood for a quick lunch or a casual dinner, Jersey Mikes has something for everyone. Jersey Mikes fixes a 0.5 to a 1-mile radius as the designated area for any franchise. For Jersey Mikes, that royalty fee is 6.5%. Be the first to know! Learn more now, Welcome to Crazy King Burrito - The BEST New Franchise in the United States! Manasquan, New Jersey serves as its current administrative headquarters. Chem-Dry is a proven and established brand with over 3,000 franchises worldwide. In cases such as these with no real data, know that anyone who is seriously evaluating the franchise would be able to speak with existing franchise owners who can provide financial transparency. If you enter into an area development agreement, you will obtain the right to acquire and operate between 3 and 10 Franchised Restaurants. Though it can be seen as a positive that it is a smaller franchise, it may be difficult to pick up new customers in their community who have never heard about it. Pop-A-Lock is the United Statess largest group of locksmiths, offering 24/7 service across the country. An error has occurred please try again later. Lets look at the advantages and challenges one may face along the way of opening and operating a franchise. The total amount of financing will vary by location. Of course, there is no guarantee of success in any business venture. You finally get to enter that franchise agreement and do the trickiest part of the process, securing real estate. All costs including attorneys fees. Another risk you should be aware of before joining the team. This is the cost of getting started with the franchise and it covers the use of the name and logo. Estimated initial investment: $96,904 to $130,313. The franchisor will grant a designated area but not an exclusive territory for the franchisee to operate a Jersey Mikes franchise. The UPS Store is a franchise that offers a range of business services, including printing, shipping, and mailbox services. Both are a main ingredient (mushroom or Ribeye) cheese, peppers, and onions. The company also requires $100,000 in liquid capital and a net worth of $300,000 to qualify. Additionally, the company has a Veterans Advisory Council comprised of veteran franchise owners who provide guidance and support to fellow veteran franchisees. Rate is subject to change. The second is Subs by the Bag, which includes Mini subs (serves: 1), regular, tub, or wrap (serves: 2), and giant (serves: 4). There are many reasons one store location might make more money than another. Our culture of giving and making a difference in the lives of our customers creates an important bond in the communities we serve. Some of them included Encore Magazine, Spectator Magazine, and the Nashville Scene. $5,000 to transfer the Franchise Agreement. A travel agency is another side hustle franchise you can do without requiring too much time. To operate your own 360clean, you will need an initial investment that ranges from $35,800 to $46,500. Owns/owned a fast-casual restaurant or QSR. As a Mathnasium Learning Center franchisee, youll be providing math tutoring services for children. This includes $39,000 that you must pay to the franchisor. It starts when a prospective franchisee fills out and submits an online application. $12,500; $5,000 for transfers or relocations. A franchise opportunity for women entrepreneurs, 360clean is ideal for those passionate about creating a clean and healthy environment for businesses. As per the latest FDD, the investment amount ranges from $194,035 to $954,611. Jersey Mikes initial franchise fee is $18,500. This can provide peace of mind to veterans seeking a stable and reliable business opportunity. Especially since it is a smaller company with less than 1,000 store locations and room for expansion. The estimate of the average revenue per store is $1.3 million. Expenses like lease fees, architectural requirements, licenses, insurance and equipment can vary a lot depending on where you want to open. There are many reasons one store location might make more money than another. Once youve found a location, necessary construction begins on the site and so does the training. Here is a breakdown for your clarity. Mike's Way to Operational Excellence Our training program requires three times the hands-on experience than many franchise systems. The company's mission is to bring its . The province's borders mostly coincide with the modern . We purchase brand name products, prep them, ship them, and reprice them for the best results. They also have autonomy over their business, which can be a desirable change from the structure of military life. Jersey Mike's Subs Franchise Costs: Estimated Initial Investment (Item 7, 2021 FDD) 1. To add more franchises, please uncheck selections in your request info basket. Even if the sandwich chain has amassed a following, its known national competitors are Subway, Firehouse Subs, and Arbys. As always, do your due diligence and talk with existing owners to get a well-rounded financial picture. 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. How much do Jersey Mike's franchise owners make? Monthly Software License Fee and Support Package for Point of Sales System, including all Currently Provided Software Programs, Licensing Fees, Software Upgrades, and Support Services (Help Desk), Secure Network Fee for Processing of Credit Cards and Transferring of Sales Data. Who Is The Ideal Jersey Mikes Operator? Back then, they served submarine sandwiches, which at the time wasnt as popular as pizza or chicken. Jersey Mikes is a popular sub-shop chain with a loyal following of customers. Complete Step 2 to receive your complete franchise information. They offer general plumbing, like water heaters, leaks, clogged drains, pump repair, and more. I prefer not to provide my Available Cash to Invest, but I do have access to the Minimum Cash Required for the franchises I am inquiring about. instructions how to enable JavaScript in your web browser, Rent/Lease CAM/Taxes/Lease and Utility Security Deposits, Uniforms, Office Equipment and Supplies, TVs/Stereo System/Security System, Professional Fees (lawyer, accountant, etc.). Share. Related Reading:Whats the Real Cost to Open a Dunkin Donuts Franchise? The franchisor offers franchises for the establishment, development and operation of restaurant facilities for the on-premises and off-premises . Be passionate about customer service and be prepared to work in a fast-paced environment. You also dont need a lot of employees to run this kind of business. 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 company was founded in New Jersey and Jersey Mikes is best known for its submarine Philly cheesesteak-style sandwiches, which are made with fresh-sliced meats and cheeses, and served on soft, freshly-baked white and wheat bread. The average annual sales per unit is roughly $600,000. One franchise owner in California has opened 20 locations. The time consuming part is conducting due diligence that can range from 1 to 6 months depending on the candidate. Not Sure What Franchise to Start? They serve cold and hot subs, chips, and drinks. All Rights Reserved. Add a photo. They offer house cleaning from season to season, providing the highest services from trained specialists. Fill out the form today! Founded in 1991, the company knows incidents like children getting locked inside vehicles can happen. Ribeye that is used for Philly's is 12-15$ a pound, crimini mushrooms that most restaurants use are 6$ a pound max even for organics. We never, EVER share or sell your information, email, or phone number, to anyone other than the specific business you have requested. First and foremost you need a liquid capital of $100,000, Franchise fee of $18,500 and a net worth of $300,000. Under his leadership, Jersey Mikes has become one of the most successful sub sandwich franchises in the country. Franchise Description: The franchisor is A Sub Above, LLC, a subsidiary of Jersey Mikes Franchise Systems, Inc. (JMFS). Which can be a profitable business venture BEST results Mikes franchise a desirable change from the structure of military.. At least $ 100,000 in liquid capital to invest the products approved by the franchisor will grant a area. Is no guarantee of success in any business venture so many other people have discovered about this exciting business.. 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