Jason's Deli Franchise Cost, Revenue & Review 2026
- Investment
- $1.7M – $2.5M
- Disclosed sales
- not disclosed
- SBA charge-off
- 0.0%
- on 14 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Jason's Deli is a fast-casual franchise serving New York-style deli sandwiches, a salad bar, soups, and spuds with a fresh-food focus. Franchisees run restaurants managing food prep, catering, dine-in, and delivery.
FranchiseVerdict summary · 2026
A Jason's Deli franchise requires a total initial investment of $1.7M – $2.5M, including a $35K franchise fee and an ongoing 4.0% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. SBA 7(a) loans show a 0.0% charge-off rate across 14 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: 2026 filing · Data extracted: · Last cited check: · Staleness risk: low - the current year's filing
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored4 of 5 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $1.7M – $2.5M
- 99th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 4.0%
- 3rd pct Service Resta…
- Units
- 236
- 85th pct Service Resta…
- SBA charge-off
- 0.0%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $1.7M – $2.5M including a $35K franchise fee, 4.0% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict A (Strongest tier), verdict score 79/100 (higher is better). SBA loan charge-off rate of 0.0% across 14 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHFlat: no net change in franchised outlets in the latest year (0 opened, 0 closed) (Item 20).
- DECLINESystem contracting at -7.6% CAGR over 3 years. Investigate whether closures are franchisor-driven (consolidation) or franchisee-driven (economics).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Deli Management, Inc.
- Predecessor
- Jason's Deli Corporation
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Troy Cormier
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- Texas
- HQ
- 350 Pine Street, Suite 1775, Beaumont, TX 77701
- Auditor
- Grant Thornton LLP
- Audited financials
- Franchisor revenue
- $488.1M
- vs $497.2M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Overview
About
- CEO
- Troy Cormier
- Headquarters
- Texas
- Founded
- 1976
- FDD year
- 2026
- States available
- 23
Can you afford it, and what does the money buy?
Entry cost runs 335% above the typical quick-service restaurants franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown19 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $35K | $35K | |
| Development Fee | $18K | $35K | |
| Travel and Living Expenses While Training | $18K | $18K | |
| Build Out or Remodeling of 4,500-5,000 sq. ft. Premises | $950K | $1.6M | |
| Equipment: Fabricated and Buyout Equipment | $460K | $460K | |
| Equipment: Furniture | $32K | $32K | |
| Equipment: Small Wares | $21K | $21K | |
| Equipment: Signage | $38K | $100K | |
| Administrative and Miscellaneous: Pre-Opening Advertising, Deposits (rent, utilities, sales tax) | $5K | $20K | |
| Licenses | $10K | $10K | |
| Interim Interest Payments / Pre-opening Training Personnel from Existing Delis | $70K | $125K | |
| Insurance | $5K | $15K | |
| Online Ordering Set-Up Costs and Monthly Hosting | $250 | $250 | |
| Point-Of-Sale System | $4K | $6K | |
| Loyalty Platform Software | $60 | $60 | |
| Delivery Fleet Management | $65 | $65 | |
| System Email | $150 | $150 | |
| Initial Inventory | $33K | $33K | |
| Additional Funds - 3 months | $20K | $35K | |
| Total initial investment | $1.7M | $2.5M |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $1.7M – $2.5M
- Bottom third — review vs category
- Liquid capital req'd
- $20K – $35K
- Top 40% of category vs category
- Franchise fee
- $35K – $35K
- Middle of category vs category
- Royalty
- 4.0%
- Set by a formula · typical 6–8%
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 4.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 4.0% of gross sales |
| Marketing / ad fund | 0.0% |
| Transfer fee | $7K |
| Renewal fee | $5K |
| Inventory (initial) | $54K – $54K |
| Total fee load | 4.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Jason's Deli makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Jason's Deli unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 4.0% — below the Quick-Service Restaurants median of 7.5%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System contracting at -7.6% CAGR over 3 years. Investigate whether closures are franchisor-driven consolidation or franchisee exits.
Multi-unit rate
50% of franchisees own multiple units, a moderate multi-unit rate.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Quick-Service Restaurants medians
How Jason's Deli Compares
Category median of published Quick-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 236
- Opened
- 0
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- N/A
- Company-owned
- 163
- Corporate units in the system
- % franchised
- 31%
- vs corporate-owned
- Multi-unit owners
- 50.0%
- Net growth (3-yr)
- -7.6%
- Net unit change over 3 years
- 3-yr CAGR
- -7.6%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 0
- 0.00 per open outlet · Item 20 Table 5
- Projected new
- 0
- Franchisor's next-year forecast
- Ceased ops
- 2.1%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 17 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Available to sell in · Item 12
- Indiana
- Maryland
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
77 current owners across 17 states.
- TX 28
- TN 10
- KS 6
- CO 5
- FL 4
- OK 4
- AR 3
- NM 3
- OH 3
- KY 2
- MO 2
- MS 2
- +5 more states
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 14
- Loan volume
- $10.3M
- Median loan
- $600K
- 50th percentile
- Charge-off rate
- 0.0%
- on 14 loans · rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 100.0%
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 11
- Defaults
- 0
- Typical loan rate
- 6.4%
- avg rate to borrowers
- Franchised industry avg
- 21.5%
- brand beats franchise avg ↓
- Jobs supported
- 708
- 6.9 per loan
- Lender concentration
- 14%
- top lender's share
Borrower mix: 0% went to startups / new businesses, 100% to established operators
Franchise vs independent — in limited-service restaurants, franchised businesses charge off at 21.5% vs 25.0% for independents — franchising is associated with 14% lower SBA default risk in this category.
Top lenders financing Jason's Deli franchisees
Showing 3 of 11 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for Jason's Deli from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 74%
- Avg interest rate
- 6.40%
- Lender concentration
- 14.3%
- Job velocity
- 6.9 per $100K
- NAICS benchmark
- 15.7%
- NAICS 722211
- Jobs supported
- 708
Top SBA lendersTop lender holds 14% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Comerica Bank | 2 | $1.1M | 0.0% |
| 2 | American Bank National Association | 2 | $1.6M | 0.0% |
| 3 | Evolve Bank and Trust | 2 | $2.3M | 0.0% |
| 4 | TD Bank, National Association | 1 | $435K | 0.0% |
| 5 | Hancock Whitney Bank | 1 | $600K | 0.0% |
| 6 | Herring Bank | 1 | $1.5M | 0.0% |
| 7 | Readycap Lending, LLC | 1 | $1.3M | 0.0% |
| 8 | Aurora Interim National Bank | 1 | $515K | 0.0% |
| 9 | First Interstate Bank | 1 | $311K | 0.0% |
| 10 | Zions Bank, A Division of | 1 | $100K | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 7 | 0 | 0.0% |
| FLFlorida | 3 | 0 | 0.0% |
| COColorado | 1 | 0 | 0.0% |
| SCSouth Carolina | 1 | 0 | 0.0% |
| TNTennessee | 1 | 0 | 0.0% |
| UTUtah | 1 | 0 | 0.0% |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
With a 0.0% charge-off rate across 14 loans, banks have historically viewed this brand favorably for lending.
What could kill this investment?
SBA loans charge off at 0.0% — 100% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Grant Thornton LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 21 figures are the CONSOLIDATED audited statements of Deli Management, Inc. (a Texas S corporation) and subsidiaries, the operating parent (no separate franchisor shell). Total revenue is dominated by company-owned deli sales ($420.98M) and distribution-center sales ($56.74M); franchise royalties are only ~$7.96M and franchise sales $51.5K. All figures in whole US dollars. Balance sheet reconciles: assets 380,977,785 = liabilities 389,099,913 + equity deficit (8,122,138). Negative stockholders' equity is driven by treasury stock (-$99.18M) and distributions, not operating losses; net income is strongly positive ($25.9M) and the deficit is improving year over year (-$24.4M in 2023 to -$8.1M in 2025).
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 79 / 100 verdict
- 01MINORSystem shrinking significantly (-5.2% YoY with only 236 units remaining suggests below critical mass)
- 02MINORNo financial disclosure (Item 19 absent) — cannot validate $1.7M-$2.5M investment ROI claims
- 03MINORMultiple employment discrimination lawsuits (disability, pregnancy, sex) suggest systemic HR/compliance issues
- 04MINORNo protected territory — franchisees compete directly with other Jason's Deli locations and must defend market share
- 05MINORHigh initial investment ($1.7M+) with mandatory $2,500/month minimum royalty even during slow periods
- 06MINORDeclining unit count suggests franchisees are not renewing or existing locations are underperforming
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 4.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 10 years |
| Territory type | No territory protection |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Territory radius | 25 mi |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 17 |
| Curable defaultsℹ | 6 |
| Mandatory arbitration | No |
| Jury trial waiver | No |
| Governing law | Texas |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 50 hrs
- On-the-job training
- 625 hrs
- Training location
- Closest geographic corporate training location to the Deli to be opened, as determined by the Development Department (or a certified franchisee-owned Deli)
- Ongoing training
- Required
- Time to open
- 8 mo
- From signing to launch
- Site selection
- franchisee
- Franchisor financing
- Not offered
- Item 10
- POS system
- NCR (Aloha QS / Aloha Takeout / NCR Payments / Aloha Configuration Center / Aloha Insight)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: NCR (Aloha QS / Aloha Takeout / NCR Payments / Aloha Configuration Center / Aloha Insight)
Item 20 · call current owners
Franchisee Contacts
77 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Jason's Deli franchise?
The total investment to open a Jason's Deli franchise ranges from $1.7M – $2.5M, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Jason's Deli franchise owners earn?
Jason's Deli makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Jason's Deli?
Jason's Deli is franchised by Deli Management, Inc.. The FDD names no parent company. Source: FDD Item 1, 2026 filing.
What is Item 19 in the Jason's Deli FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Jason's Deli FDD and qualifies whose outlets they describe.
What is Jason's Deli's franchise failure rate?
Based on SBA 7(a) loan data, Jason's Deli has a charge-off rate of 0.0% across 14 loans, meaning 0.0% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Jason's Deli franchise locations are there?
As of their most recent FDD filing, Jason's Deli has 236 total units in the United States, including 73 franchised units and 163 company-owned units.
Is Jason's Deli a good franchise to buy?
FranchiseVerdict rates Jason's Deli as a A-grade franchise with a verdict score of 79 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
Are you the franchisor?
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.