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Investing in Jersey Mike’s Franchises

Aspiring business owners might be looking to invest in a franchise business, but may have many questions about it, especially when the brand of choice is a well-known and established one like Jersey Mike’s Subs. Though it can be intimidating to make such a major decision, getting familiar with the process and understanding the associated risks and rewards also can help one make an informed decision. In addition, partnering with the right franchise consulting group can guide franchisees through the process and provide experienced and knowledgeable consultation along the way. Read on to learn more about investing in Jersey Mike’s Franchises and answers for frequently asked questions.

What is Involved in Investing in Jersey Mike’s Franchises?

Investing in a Jersey Mike’s franchise begins with an application and includes: due diligence; review of the legal documents; research into the anticipated cost of construction; understanding the demographics in the area and the competition; meeting the representatives of the franchisor; consulting with a trusted franchise consulting group; and understanding the intricacies of the agreement. These steps may seem overwhelming for an individual, but they are fundamental to make an informed decision.

What are the Pros and Cons of Investing in Jersey Mike’s?

One of the key desirable benefits of investing in Jersey Mike’s is the brand recognition, as it is a nationally recognized brand. Jersey Mike’s is taking into account of the current pandemic when signing agreements with their franchisees. As part of Jersey Mike’s Subs’ “Open the World” initiative, its operators are getting a flexible lease where landlords agree to amend the terms to enable the franchisees to move forward with the investment.

However, there are also drawbacks to investing in a Jersey Mike’s franchise. The franchise fee to sign up with the brand is higher than some of its competitors, such as Quiznos and Jimmy John’s. Furthermore, there is a long timeline from the initial agreement to the opening of the franchise. Finally, the cost of construction is quite expensive as Jersey Mike’s franchises are to be opened in highly desirable areas where the rent is also hefty.

How Does One Choose a Franchise Consulting Group?

There are many variables to consider when looking for the ideal franchise consulting group. Ideally, the group should have an established and award-winning track record, and it should have extensive experience in the franchising industry. The group should also have members all around the United States and provide role-specific training and education tailored to the needs of the franchisor and its growth requirements.

In addition, the group should be driven by a purpose-driven mission, and it should foster an atmosphere of collaboration among its members. Furthermore, the group should be made up of experienced and knowledgeable franchise experts who are well-versed in the legal aspects, the franchise agreement, the market, and more to help business owners make the right decisions when investing in a franchise.

Finally, the success of the franchise also depends on the members of the franchise. An important factor to consider when selecting a franchise consulting group is the experience and knowledge of the individual members. Experienced members can provide invaluable advice and act as mentors to help budding franchisors get their businesses up and running

Topics:

Franchise Investment,

Jersey Mike’s,

Franchise Consulting Group

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