In the News
Substantial Growth for Jersey Mike's in 2013
Momentum Continues in New Year
February 5, 2014 • Manasquan, NJ
Jersey Mike’s Subs, known for its authentic fresh sliced/fresh grilled subs, sliced, sprinkled and wrapped its way to record-breaking growth in 2013, opening 140 new locations with unit growth of 22%. In addition, the company reported a system-wide sales increase of 22%, to $406 million.
Following its successful recipe of deliberate, well-considered expansion, Jersey Mike’s has nearly doubled in size in just three years. Started in 1956, the sub chain now has more than 1,300 restaurants open and under development nationwide.
“While we’ve seen another year of record growth, we remain focused on the right growth – finding franchise partners who are excellent operators and share our passion for serving a ‘sub above,’” said Hoyt Jones, president, Jersey Mike’s.
Last year, Jersey Mike’s awarded 85 territories representing 230 restaurants. This included signing up prominent multi-brand, multi-unit franchisees as well as awarding 31 territories to existing franchisees.
According to Jones, the momentum continues for 2014, with a projected 200 locations expected to open. Key areas of growth include Northeast Corridor, Pacific Northwest, Rocky Mountain States and Upper Midwest.
“In 2014, Jersey Mike’s is looking for franchisees in target markets including New York/N.J., Northern California, Philadelphia, Boston, Atlanta and satellite markets throughout the country,” said Jones, who noted that the company is now in most major markets with the opening of its first Manhattan location in July 2013.
Jersey Mike’s also opened its first non-traditional markets in 2013 and, with the hiring of industry veteran Phil Capozzi, the company expects more growth in this area. Locations opened last year included McCarran International Airport (LAS) in Las Vegas, Newark Liberty International Airport (EWR), Monmouth (N.J.) University and Amtrak’s historic 30th Street Station in downtown Philadelphia.
The growth is fueled by passionate Jersey Mike’s fans who crave their subs made Mike’s Way® with onions, lettuce, and tomatoes and The Juice: red wine vinegar and olive oil blended to perfection. It's an exquisite zing -- a splash of extra and unexpected. The company uses only premium meats and cheeses sliced on the spot and piled on delectable bread baked fresh in the restaurant throughout the day. The company wins best sub awards in virtually every market it enters.
CEO Peter Cancro started the company at age 17, before he was even legally able to slice a sub. The company remains committed to making a difference in the communities it serves. Since 2010, Jersey Mike’s locations throughout the country have raised nearly $7.5 million for worthy local charities and have distributed more than 600,000 free sub sandwiches to help numerous causes. The company is gearing up for its 4th Annual Month of Giving in March, a nationwide fundraiser which last year raised $1.7 million for 86 different charities nationwide.
Jersey Mike’s, a fast-casual sub sandwich franchise with more than 1,300 locations open and under development nationwide, has a long history of community involvement and support. Jersey Mike’s serves authentic fresh sliced subs on freshly baked bread – the same recipe it started with in 1956. The company’s mission is to bring its customers the highest quality, freshest made sub in the industry and give back to the communities in which it operates. A restaurant locator and franchise information for Jersey Mike’s can be found at www.jerseymikes.com.