Jersey Mike's
Food & Beverage · Quick-Service Restaurants
- Active units
- 2,647
- Avg unit volume
- $1.3M
- Royalty
- 6.5%
Franchised, year-end 2023
of weekly Net Sales
About Jersey Mike's
The menu includes hot and cold subs served on bread baked in each store every day. Guests can select a signature topping style known as Mike's Way, which consists of onions, lettuce, tomatoes, red wine vinegar, olive oil, and spices. The brand operates through brick-and-mortar locations where crew members prepare meals in front of customers. Established at the Jersey Shore in 1956, the company transitioned to a franchise model in 1987.
Key terms
- Franchise fee
$19k
- Experienced Franchisee Program (single-unit; time-limited)
Reduced initial franchise fee of $8,500 (max 3 new units) if open by 12/31/2025; real estate and construction fee waived
- Coach Rod Smith Program (financing)
Company may allow financing of the initial franchise fee and/or real estate & construction fee through JMFS for selected participants
- Brand fund
4.0% of Net Sales
- Footprint
1,000 – 2,000 sq ft
- Area Development Agreement - 3 units
$50k
- Area Development Agreement - 5 units
$50k
- Area Development Agreement - 10 units
$120k
- Experienced Franchisee Program - 3 units ADA (time-limited)
$26k
- Veteran discount
Not offered
Brand Percentile Rankings
Rankings compare brands in the same operating year. Fee and investment figures come from the FDD (2026 filing); filings on file: 2024, 2025, 2026.
Growth
- Total locations3201
Franchised units open at year-end
- New openings259
Gross new units opened during the calendar year
- 1-year unit growth rate8.3%
Net unit growth versus prior year
- 3-year unit CAGR10.0%
Compound annual growth rate of unit count over the trailing 3 years
- Unit growth ratio259.0×
Cumulative opens / closures through year-end
Unit economics
- Annual unit volume (Median)$1.3M
Item 19 cohort year 2025
- Annual unit volume (25th percentile)—
Per FDD Item 19 disclosure
- Annual unit volume (75th percentile)—
Per FDD Item 19 disclosure
- 1-year Median AUV growth rate0.0%
Year-over-year change in median AUV
- Store-level EBITDA Margin—
Median unit-level EBITDA / AUV
Investment profile
- Estimated initial investment$799k
Midpoint of estimated initial investment range
↓ Lower is better - Time to open9 months
Midpoint of average time from agreement to opening
↓ Lower is better - Royalty rate6.5%
Percent of net sales paid to the franchisor
↓ Lower is better - Sales-to-investment ratio1.6×
Median AUV / estimated initial investment midpoint
- Cash-on-cash returns—
Median unit-level EBITDA / estimated initial investment midpoint. Steady-state estimate; year 1 returns will be lower as the unit ramps to median volumes.
Franchisee healthLocked
- Unit closure ratio
- Transfer vs. closure ratio
- Percent multi-unit franchisees
- Litigation rate
- EBITDA multiple on sales & transfers
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Sources
Financial and operating figures are sourced from the brand's Franchise Disclosure Documents. Brand percentile rankings are based on comparisons to other brands that include the same metrics in their Franchise Disclosure Documents.