Data Verification Status: Verified
Data for Jersey Mike's Subs was extracted directly from the 2024 Franchise Disclosure Document filed with state regulators (MN CARDS, WI DFI, or CA DFPI). The actual FDD was directly reviewed and all figures shown are sourced from the government filing. Always verify current figures by requesting the most recent FDD directly from the franchisor.
Jersey Mike's Subs
Fresh-sliced sub sandwiches made to order with Atlantic City heritage.
Jersey Mike's Subs is a fast-casual sub sandwich franchise built on authentic East Coast-style subs with meat and cheese sliced fresh in front of customers. Founded at the Jersey Shore in 1956, the brand has grown to over 2,500 locations. Jersey Mike's consistently ranks among the top franchise opportunities for its strong franchisee satisfaction, unit economics, and brand momentum.
Key Metrics
Total Investment
$178,000 – $775,000
Initial fee: $18,500
Avg Revenue (Item 19)
Not Available
Item 19 — Figures Not Available
Royalty Rate
6.5%
2024 FDD
Total Units
2,627
2,615 franchised · 12 company
Franchise Overview
| Parent Company | Jersey Mike's Franchise Systems, Inc. |
| Year Founded | 1956 |
| Franchising Since | 1987 |
| Headquarters | NJ |
| Category | Food & Beverage· Sub Sandwiches |
| States of Operation | 50 |
| FDD Year | 2024 |
Money: What You Pay, What You Make
Investment costs, ongoing fees, and disclosed revenue — FDD Items 5, 6, 7, and 19
Investment Anatomy
Where your initial investment goes — sourced from FDD Item 7.
Diligence Scores
Computed from government-filed FDD data. Each score is 0–100. Methodology is public and citation-backed.
System Health
Based on Item 20 outlet trends
Franchisor Strength
Insufficient data
Contract Burden
Insufficient data
Economics
Not Rated
Item 19 filed — figures not available in our database
Confidence
Data completeness + extraction quality
Scores are editorial calculations from cited government filings (2024 FDD). They are not investment advice. Missing economics data does not indicate poor economics — it means Item 19 revenue data is unavailable for scoring. See methodology for details.
Data Coverage
Gov-filed FDD · 2024
3/11
items populated
Item 19 — Financial Performance Representation
Item 19 — Economics Not Available
This franchisor filed an Item 19 in their FDD, but the figures are not currently available in our database. This does not reflect the quality of the disclosure.
Coverage status: Item 19 — Figures Not Available
Item 19 Data Quality
Before comparing this revenue figure to other brands, review these data-quality flags.
Item 19 Filed — Figures Not Available
This franchisor filed an Item 19, but the figures are not currently in our database. This flag reflects a data coverage gap, not a judgment on the disclosure.
Fee Structure
| Initial Franchise Fee | $18,500 |
| Total Investment Range | $178,000 – $775,000 |
| Royalty | 6.5% |
| Marketing / Ad Fund | 3% |
Operations: The Rules You Live By
Contract terms, territory, suppliers, training, and financing — FDD Items 8, 10, 11, 12, 17
System Health: Is It Growing or Shrinking?
Unit openings, closures, transfers, and geographic spread — FDD Item 20
Unit Economics — Item 20 (Outlets & Franchisee Information)
Units Opened
+232
Units Closed
-39
Units Transferred
12
| Net Growth | +193 units |
| Turnover Rate | 2% |
System Composition
Ownership split and 3-year system trajectory — from FDD Item 20.
Outlet Churn Anatomy — Item 20
Exit-type breakdown for the 2024 FDD reporting period. Source: government-filed FDD.
growing System
System is expanding — net +193 units with 2% turnover. New unit openings outpace closures.
Opened
+232
Exited
-39
Net
+193
| Exit Type | Count | % |
|---|---|---|
Units Closed (type breakdown not available) Total closures without exit-type detail. Review Item 20 in the full FDD for breakdown. | 39 | 100% |
Transfers (franchisee-to-franchisee) Units changed hands but remained in the system. High transfers can indicate a healthy resale market. | 12 | — |
Franchisor Strength: Can They Support You?
Financial health, litigation history, and audited statements — FDD Items 3, 4, 21
Litigation Summary — Item 3
Active Lawsuits
2
Trend
Lawsuit Types
Peer Benchmarks
Ranked within food-beverage franchises at a $150K–$500K investment tier. All data from government-filed FDDs.
Jersey Mike's Subs ranks in the top 25% of peers for net unit growth
Percentile rank vs. comparable franchises in the same category and investment tier. For revenue and growth: higher percentile = better. For fees and investment: lower percentile = better (bar shows relative advantage).
Trends & Change Signals
Multi-factor trend detection across revenue, unit count, financials, and litigation.
Overall Trend: improving
Multiple improving signals. Positive trajectory across revenue and/or unit count.
Unit Count (Current Period)
System expanding or stable
Net +193 units; turnover 2%
Unit Turnover Rate
Below average — healthy retention
2% annual turnover
Buyer Prep: What to Watch For
Key risk areas, questions for existing franchisees, and community insights
Franchisee Interview Prep
Questions to ask current franchisees — generated from red flags, Item 20 exit data, and contract terms in the 2024 FDD. Prioritized: critical questions first.
39 units closed in the most recent FDD period. Ask franchisees: what actually drove those closures — was it market conditions, operations, or franchisor decisions?
Look for: Franchisees who left voluntarily vs. those terminated. Any pattern by region, years in system, or franchisee profile.
How responsive is your franchisor rep — do they actually help when you have a problem, or are they just checking boxes?
Look for: Specific stories (not just vague positives). Ask about a time they needed help urgently — response time matters.
The FDD does not include audited financial statements. Ask: do you have any visibility into the franchisor's financial health? Have you ever been concerned about the company's stability?
Look for: Even anecdotal signals — changes in leadership, delays in royalty statement processing, reduced marketing fund activity.
If you decided to sell your franchise tomorrow, how easy would that be? Has the franchisor ever blocked or delayed a transfer you wanted?
Look for: Transfer fee surprises, right-of-first-refusal complications, or franchisor demanding upgrades before approving a sale.
What did your revenue look like in year 1 vs. year 2 vs. now? When did you reach breakeven?
Look for: Year 1 revenue is typically well below Item 19 averages (which often exclude ramp-up units). Expect 12-24 months to reach average.
What did the training actually cover vs. what you needed on day 1? What do you wish you'd learned before opening?
Look for: Gap between training content and operational reality. New franchisees often report the training covered theory but not real-world situations.
Knowing everything you know now, would you sign this franchise agreement again? What would you negotiate differently?
Look for: This is the single highest-signal question. Listen for hesitation. Franchisees rarely criticize their decision publicly; even mild reservations are meaningful.
How responsive is corporate support when you have an operational problem? Can you give me an example of when you needed help and how they responded?
Look for: Same-day response vs. days-long wait. Whether field support visits are proactive or only reactive. Quality of the franchisee hotline.
Geographic Concentration
State distribution analysis from FDD Item 20 (Table No. 3).Coverage estimate based on aggregate state count — per-state breakdown pending full extraction.
Well Distributed
Present in 50+ states — strong geographic diversification reduces single-state risk.
50
States Active
national
Coverage Type
0.02
HHI (concentration)
2%
Est. top-state share
ℹ Per-state breakdown will be available after Item 20 state-table extraction completes for this brand.
Community
Not FDD dataPublic Sources
4.2
/5
Ranked among FBR's Top 200 Franchises for franchisee satisfaction
FBR SurveyAnonymous Owner Submissions
No owner submissions yet for Jersey Mike's Subs. Be the first — your data helps future buyers.
Buyer Memo
One-page printable summary: investment, revenue, flags, and questions to ask.
View Memo →Full Diligence Memo
Item 19, system health, red flags, contract terms — cited to the filed FDD.
Full Analysis →Lender Readiness Pack
SBA-ready summary: investment ranges, scenario economics, franchisor financials.
View Lender Pack →Get the Full Report
Standard
$29
- Full score breakdown & analysis
- Red flag deep dive
- FDD summary (Items 1-23)
Premium
$79
- Everything in Standard
- Item 19 financial modeling
- Competitor comparison
- Community data overlay
Executive
$199
- Everything in Premium
- 10-year pro forma model
- Litigation deep dive
- Territory analysis & map
Data sourced from the 2024 FDD filed with a state franchise regulator (NJ DFI/CARDS filing). Fields not extractable from the PDF are shown as not available. Last updated 2026-03-28.
Franchisel is independent and does not accept payments from franchisors. Scores reflect editorial analysis, not franchisor endorsement.