Jersey Mike's Franchise Cost, Revenue & Review 2026
- Investment
- $436K – $1.2M
- Disclosed sales
- $1.4M
- gross sales, not profit
- SBA charge-off
- 4.4%
- on 667 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Jersey Mike's is a fast-casual sub franchise serving made-to-order sandwiches sliced fresh in front of the customer. Franchisees run compact shops for dine-in, takeout, and delivery.
FranchiseVerdict summary · 2026
A Jersey Mike's franchise requires a total initial investment of $436K – $1.2M, including a $9K – $20K franchise fee and an ongoing 6.5% royalty[2]. Per the 2026 FDD, average unit revenue was $1.4M[2]. SBA 7(a) loans show a 4.4% charge-off rate across 667 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
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 scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $436K – $1.2M
- 69th pct Service Resta…
- Avg gross sales
- $1.4M
- 26th pct Service Resta…
- Royalty
- 6.5%
- 89th pct Service Resta…
- Units
- 3,227
- 95th pct Service Resta…
- SBA charge-off
- 4.4%
- % 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 $436K – $1.2M including a $20K franchise fee, 6.5% ongoing royalty.
- RETURNSAverage unit revenue of $1.4M/year (median $1.3M).
- RISKVerdict A (Strongest tier), verdict score 98/100 (higher is better). SBA loan charge-off rate of 4.4% across 667 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +246 franchised outlets in the latest year (259 opened, 13 closed); 563 signed but not yet open (Item 20).
- GROWTHSystem growing at 20.6% CAGR over 3 years with 3227 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- A SUB ABOVE, LLC
- Parent company
- Jersey Mike's Franchise Systems, LLC (JMFS)
- FDD Item 1, page 8 of the 2026 FDD
- Ultimate parent
- Jersey Mike's HoldCo, LLC (majority owned by investment funds managed by affiliates of Blackstone Inc.)
- FDD Item 1, page 9 of the 2026 FDD
- Predecessor
- Jersey Mike's Franchise Systems, LLC (formerly Jersey Mike's Franchise Systems, Inc.); original concept from The Original Mike's, Inc. d/b/a Mike's Submarines
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Charlie Morrison
- CEO experience
- 18 yrs
- Years in role or industry
- Incorporated in
- Delaware
- HQ
- 1 Commvault Way, Suite 400, Tinton Falls, New Jersey 07724
- Auditor
- Deloitte & Touche LLP
- Audited financials
- Franchisor revenue
- $309.8M
- vs $280.1M prior year
Same owner · FDD Item 1, page 9
Portfolio: Blackstone (private-equity sponsor)
Grouped by the owner's name as each filing prints it (this page: the 2026 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Charlie Morrison
- Headquarters
- New Jersey
- FDD year
- 2026
- States available
- 51
Can you afford it, and what does the money buy?
Entry cost runs 65% above the typical quick-service restaurants franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown20 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Development Fee | $10K | $10K | |
| Initial Franchise Fee | $20K | $20K | |
| Rent/Lease CAM/Taxes/Lease and Utility Security Deposits | $11K | $20K | |
| Architectural Fees | $8K | $30K | |
| Leasehold Improvements | $147K | $659K | |
| Equipment/Furniture/ Small Wares | $138K | $160K | |
| Initial Inventory | $14K | $26K | |
| Insurance | $4K | $22K | |
| Training | $14K | $28K | |
| Grand Opening Advertising | $10K | $10K | |
| Exterior Signage | $12K | $39K | |
| Interior Branding / Graphics | $4K | $10K | |
| Uniforms, Office Equipment and Supplies, TVs/Stereo System/Security System | $6K | $19K | |
| POS System | $8K | $15K | |
| POS System Connection to Private Network | $5K | $5K | |
| POS License Fee | $2K | $4K | |
| Initial Credit Card Processing Software Fee | $750 | $750 | |
| Professional fees (lawyer, accountant, etc.) | $5K | $28K | |
| Business Licenses and Permits | $500 | $25K | |
| Additional Funds for 3 months | $17K | $33K | |
| Total initial investment | $436K | $1.2M |
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
- $436K – $1.2M
- Bottom third — review vs category
- Liquid capital req'd
- $17K – $33K
- Top 40% of category vs category
- Franchise fee
- $9K – $20K
- Top 40% of category vs category
- Royalty
- 6.5%
- typical 6–8%
- Ad fund
- 5.0%
- typical 3–5%
- Total fee load
- 11.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.5% of gross sales |
| Marketing / ad fund | 5.0% |
| Technology fee | $395 |
| Transfer fee | $15K |
| Renewal fee | $20K |
| Inventory (initial) | $14K – $26K |
| Total fee load | 11.5% of rev |
What do units actually make?
Average unit sales run 40% above the quick-service restaurants norm.
Source: FDD 2026 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for Jersey Mike's until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for 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.
Total invested capital · disclosed
$824K
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one Jersey Mike's 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 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.
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for 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.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
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
- Avg gross sales
- $1.4M
- Per unit, per year
- Median gross sales
- $1.3M
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- gross sales
- Sample size
- 2,606 outlets
- vs category median 19 · large
- Range (low → high)
- $512K→$3.2MCited, not corroborated — printed on page 58 of the 2026 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
Compared against 781 Quick-Service Restaurants brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $1.4M/year in gross sales. Revenue-to-investment ratio: 1.7x.
Fee burden
Total ongoing fee load of 11.5% — above the Quick-Service Restaurants median of 7.5%.
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 20.6% CAGR over 3 years across 3,227 units — operators are staying and new ones are joining.
Multi-unit rate
Only 20% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.
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 Jersey Mike's 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
- 3,227
- Opened
- 259
- Last reporting year
- Closed
- 13
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.4%
- Company-owned
- 26
- Corporate units in the system
- % franchised
- 99%
- vs corporate-owned
- Multi-unit owners
- 20.0%
- Net growth (3-yr)
- +20.6%
- Net unit change over 3 years
- 3-yr CAGR
- +20.6%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 218
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 563
- 0.17 per open outlet · Item 20 Table 5
- Projected new
- 261
- Franchisor's next-year forecast
- Transfer rate
- 2.6%
- Owners selling to other franchisees
- Continuity rate
- 99.7%
- Units that stayed open
- Ceased ops
- 0.2%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 51 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.
Where the owners are · Item 20 owner list
3,075 current owners across 51 states; 9 former (terminated, transferred or not renewed) listed separately.
- CA 393
- TX 245
- FL 243
- NC 212
- NJ 139
- GA 123
- OH 122
- NY 114
- IL 106
- VA 105
- SC 95
- PA 89
- +39 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
- 667
- Loan volume
- $223.3M
- Median loan
- $350K
- 50th percentile
- Charge-off rate
- 4.4%
- on 667 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)
- 95.6%
- 5-yr charge-off
- 1.1%
- Loans approved 2021+
- Active lenders
- 153
- Defaults
- 18
- Typical loan rate
- 6.8%
- avg rate to borrowers
- Franchised industry avg
- 10.8%
- brand beats franchise avg ↓
- Jobs supported
- 9,443
- 5.5 per loan
- Lender concentration
- 7%
- top lender's share
Borrower mix: 77% went to startups / new businesses, 23% to established operators
Franchise vs independent — in limited-service restaurants, franchised businesses charge off at 10.8% vs 10.0% for independents — franchising is associated with 8% higher SBA default risk in this category.
Vintage analysis
Jersey Mike's charge-off rate by loan vintage
Top lenders financing Jersey Mike's franchisees
Showing 3 of 153 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 Jersey Mike's from SBA 7(a) FOIA data.
- Principal loss rate
- 0.8%
- Avg SBA guarantee
- 74%
- Avg interest rate
- 6.77%
- Avg chargeoff amount
- $257K
- Lender concentration
- 7.1%
- Job velocity
- 5.5 per $100K
- Startup risk premium
- -7.4pp
- NAICS benchmark
- 8.7%
- NAICS 722513
- Jobs supported
- 9,443
Top SBA lendersTop lender holds 7% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Live Oak Banking Company | 30 | $14.9M | 0.0% |
| 2 | Citizens Bank | 27 | $11.5M | 0.0% |
| 3 | Bank of the Pacific | 26 | $8.1M | 0.0% |
| 4 | The Huntington National Bank | 26 | $8.9M | 0.0% |
| 5 | United Community Bank | 19 | $10.1M | 0.0% |
| 6 | Manufacturers and Traders Trust Company | 14 | $4.6M | 0.0% |
| 7 | Stearns Bank National Association | 13 | $4.1M | 0.0% |
| 8 | The Bancorp Bank National Association | 10 | $4.2M | 10.0% |
| 9 | Wells Fargo Bank National Association | 9 | $3.3M | 0.0% |
| 10 | SouthState Bank, National Association | 9 | $5.0M | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 60 | 0 | 0.0% |
| CACalifornia | 40 | 3 | 10.0% |
| WAWashington | 37 | 0 | 0.0% |
| ILIllinois | 25 | 0 | 0.0% |
| OHOhio | 22 | 0 | 0.0% |
| FLFlorida | 19 | 0 | 0.0% |
| MOMissouri | 19 | 0 | 0.0% |
| MIMichigan | 16 | 0 | 0.0% |
| GAGeorgia | 13 | 2 | 50.0% |
| MNMinnesota | 13 | 0 | 0.0% |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
What could kill this investment?
SBA loans charge off at 4.4% — 73% 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: the franchisor is a named party (defendant).
2 concluded cases (WA AG no-poach clause settled for $150,000; Tsou gift-card class action settled for $25,000) and 1 pending class action (Brewer v. JMFS re: mobile app service fees, California consumer protection claims).
Largest disclosed settlement: $150,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Deloitte & Touche LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 98 / 100 verdict
- 01MINORUnprotected territory creates direct competition risk and cannibalization between franchise units
- 02MINORWashington State litigation regarding 'no-poach' clauses signals potential employment law compliance issues across the system
- 03MINOR6.5% royalty on gross receipts (not net) means franchisees pay regardless of profitability
Severity inferred from the FDD text · not a regulatory classification
Litigation case detail3 matters · Item 3
Litigation cases
The franchisor
Concluded (1)
Sam Tsou v. A Sub Above, LLC and Does 1-10
settledThird-party plaintiff · filed 2025 · Superior Court of California, County of Los Angeles · 25STCV28811
“On September 29, 2025, Sam Tsou (“Tsou”) filed a class action lawsuit against Company, alleging that Company violated California Civil Code §1749.5 et seq., the California False Advertising Act, and the California Unfair Competition Law after Tsou’s request for cash redemption of an unused balance on a gift card had been denied at a franchised JERSEY MIKE’S Restaurant.”Page 14 of the 2026 FDD, Item 3
Outcome:“Company denied all allegations, but to resolve the dispute without admitting any fault or liability, Company and Tsou, on an individual basis, entered into a Settlement Agreement on March 27, 2026, which required Company to pay Tsou $25,000 in exchange for a full release from Tsou and related parties.”
Parent, affiliates and predecessor
Pending (1)
Justin Brewer v. Jersey Mike’s Franchise Systems, Inc. et al
pendingThird-party plaintiff · Jersey Mike’s Franchise Systems (“JMFS”) - former franchisor (predecessor) and indirect parent of the franchisor A Sub Above, LLC · filed 2026 · United States District Court, Central District of California · 5:26-cv-535-SSS
“Justin Brewer v. Jersey Mike’s Franchise Systems, Inc. et al, Case No. 5:26-cv-535-SSS (United States District Court, Central District of California, Feb. 6, 2026). On February 6, 2026, Justin Brewer (“Brewer”) filed a class action lawsuit against JMFS, purporting that JMFS violated the California”Page 14 of the 2026 FDD, Item 3
Concluded (1)
The State of Washington v. Jersey Mike’s Franchise Systems, Inc.; Auburn JM, LLC; BCG-Northwest, LLC, Berry Investment Group, Ltd.; Elsterly, LLC; FM Restaurants, Inc.; Food Adventures, Inc.; Golden Springs, LLC; JM Northtown, LLC; JM Puyallup, Inc.; JM Restaurants, Inc.; JM Silverdale, LLC; JM Spok
concludedGovernment or regulatory action · Jersey Mike’s Franchise Systems (“JMFS”) - franchisor at the time (predecessor); now indirect parent of A Sub Above, LLC · filed 2018 · State of Washington King County Superior Court · 18-2-25822-7
“On October 15, 2018, the State of Washington, through its Attorney General, sued JMFS, and each of its franchisees owning restaurants located the State of Washington (“Washington Franchisees”), alleging that JMFS and Washington Franchisees violated the Washington Consumer Protection Act based on the former inclusion in legacy franchise agreements of a so-called ‘no-poach’ provision”Page 14 of the 2026 FDD, Item 3
Outcome:“Further, JMFS agreed to pay the State of Washington $150,000 without admitting to any fact, liability, misconduct or wrongdoing on JMFS’s part.”
Item 3 lists the litigation the franchisor must disclose; a matter against a parent, an affiliate or a named officer is not a matter against the franchisor, and pending claims are allegations, not findings.
What are you signing up for?
Ongoing fees run about 11.5% 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 | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | No territory protection |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Territory radius | 1 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 15 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 22 |
| Curable defaultsℹ | 6 |
| Mandatory arbitration | Yes |
| Arbitration location | Monmouth County, New Jersey |
| Jury trial waiver | Yes |
| Governing law | New Jersey |
| Litigation count | 3 |
View Item 3 litigation summary
2 concluded cases (WA AG no-poach clause settled for $150,000; Tsou gift-card class action settled for $25,000) and 1 pending class action (Brewer v. JMFS re: mobile app service fees, California consumer protection claims).
Items 10, 11
Training & Operations
- Classroom training
- 22 hrs
- On-the-job training
- 365 hrs
- Training location
- Certified Training Restaurant (Phase 1 and 3, on-the-job); Company's training center in Manasquan, New Jersey or other designated location (Phase 2, classroom)
- Ongoing training
- Required
- Site selection
- franchisee (with approved real estate broker), subject to Company approval of site and Designated Territory/Area
- Franchisor financing
- Offered
- Item 10
- POS system
- ReSource Point of Sale, LLC
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: ReSource Point of Sale, LLC
Item 20 · call current owners
Franchisee Contacts
3,084 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 Jersey Mike's franchise?
The total investment to open a Jersey Mike's franchise ranges from $436K – $1.2M, with an initial franchise fee of $20K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Jersey Mike's franchise owners earn?
According to Item 19 of the Jersey Mike's FDD, the average gross sales per unit is $1.4M. The median is $1.3M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Jersey Mike's?
Jersey Mike's is franchised by A SUB ABOVE, LLC. Its parent company is Jersey Mike's Franchise Systems, LLC (JMFS). The ultimate parent named in the FDD is Jersey Mike's HoldCo, LLC (majority owned by investment funds managed by affiliates of Blackstone Inc.). Source: FDD Item 1, 2026 filing.
What is Item 19 in the Jersey Mike's 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 Jersey Mike's FDD and qualifies whose outlets they describe.
What is Jersey Mike's's franchise failure rate?
Based on SBA 7(a) loan data, Jersey Mike's has a charge-off rate of 4.4% across 667 loans, meaning 4.4% 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 Jersey Mike's franchise locations are there?
As of their most recent FDD filing, Jersey Mike's has 3,227 total units in the United States, including 3,201 franchised units and 26 company-owned units. 259 new units were opened in the latest reporting year.
Is Jersey Mike's a good franchise to buy?
FranchiseVerdict rates Jersey Mike's as a A-grade franchise with a verdict score of 98 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.