Jersey Mike is one of the best fast-food casual restaurants that serve submarine sandwiches and offers lucrative franchise opportunities to entrepreneurs.
So in this article, we are going to discuss how much does a Jersey Mike’s franchise owner can make and whether buying this franchise is worth it or not. So keep reading to learn more.
What Is Jersey Mike’s?
Jersey Mike’s is an American Sandwich chain. In 1956, Jersey Mike’s was founded in Point Pleasant, New Jersey.
Originally it was named Mike’s Subs- A small shop in the seaside town that offers submarine sandwiches.
However, in 1987, it started offering franchises, and now, it has more than 1900 outlets. Jersey Mike’s offers a franchise opportunity to entrepreneurs who have the potential to run restaurants and have the leadership quality to manage the team.
They never require prior experience because they provide adequate training to all new franchises.
However, opening a Jersey Mike’s franchise requires a high-cost investment, and they never provide financing options or veteran discounts to anyone. You also need to pay hefty-fee and charges to franchisors.
How Much Does A Jersey Mike’s Franchise Owner Make?
As per statics, A Jersey Mike’s generates approximately $1.34 billion through its sales. An individual Jersey Mike’s franchise owner’s sales are approximately $600,000, on which profit is around $50,000-$70,000.
However, this profit varies under different conditions. There is a possibility that the owner can make more than this if they choose a good location and marketing strategy.
Overall, we can see that some units are doing very well and making more than $200,000 annually. So, the profit of Jersey Mike’s franchise is above the basic income.
What Is Jersey Mike’s Known For?
Jersey Mike is popular for its Subs. There are many things that make them unique and better than others like they use a lean turkey breast and flavourful provolone cheese.
Moreover, it has a great taste and contains low sodium and calorie, so it can be a great option for health-conscious people.
These are the following items for which Jersey Mike is Known:
- The Number Four
- Grilled Portabella Mushroom and Swiss
- Buffalo Chicken Cheese Steak
- Chipotle Chicken Cheese Steak
- Club Sub
- Big Kahuna Cheese Steak
- Cancro Special
- The Original Italian
- Portabella Cheese Steak
- Mike’s Famous Philly
Pros And Cons Of Jersey Mike Franchise
Pros Of Jersey Mike Franchise
- Provides adequate training
- Fastest-growing chain
- Best-quality provider
- Always use premium quality products
- Low franchise-fee
Cons Of Jersey Mike Franchise
- High competition level
- Smaller franchise
- No veterans discount
- Pay $75 per hour plus expense
- Late fee charges
Is the Jersey Mike’s franchise Profitable?
Well, profitability depends on different factors, and one of the essential factors in determining the profitability of any business is an investment.
There are many economic factors that tell us that higher investment gets higher profit. In the case of Jersey Mike’s, the requirement of investment is higher, and this investment gives you a better worth.
Yes, as per data, Jersey Mike’s Franchise owner can make more than $50,000-$200,000 annually. So, the profitability of Jersey Mike is higher, and there are possibilities that you can make more than this.
It all depends on your skills and business mindset. Overall, the profit potential of Jersey Mike’s is good.
Read: Potbelly Franchise
As discussed above, Jersey Mike’s offers a franchise opportunity to entrepreneurs without prior experience. So, the franchise is available for all natives.
However, the policies are a bit rigid. You can easily buy this franchise, but after that, you need to follow a rule book. There are some restrictions and obligations you need to follow.
Moreover, you also pay a hefty royalty fee and other charges. If you fail to pay on time, then you have to pay a fee with extra charges.
Besides the initial cost, there are many fees and additional charges, like advertisement fees, professional fees, training fees, construction fees, and so on. You are required to pay all these fees for opening this franchise.
However, the profitability of Jersey Mike’s is good enough to make a decent amount of profit, but your profit will get divided between the fee and charges owned by the company.
Frequently Asked Questions
How many Jersey Mike's franchises are there?
Jersey Mike’s has more than 1,900 outlets around the world.
What is the annual revenue of the Jersey Mike's Franchise?
An individual Jersey Mike’s franchise owner makes approximately $50,000-$200,000 annually.
How much does it cost to buy a Jersey Mike's franchise?
An initial investment required to open a Jersey Mike’s Franchise is $169,001 to $804,045
Amit Gupta is the founder of DrFranchises. He has a keen interest in investments, and has thus far invested in a few franchises. Franchise businesses are his forte- he knows all there is to know about their space requirements, fees, ROI potential, and business models. This makes him an ideal candidate for anyone looking to invest in a franchise