Jersey Mike's Subs

What Jersey Mike's Subs does

Jersey Mike's Subs is a fast-casual submarine sandwich franchise founded in 1956 at the New Jersey Shore and headquartered in Tinton Falls, NJ (corporate entity Jersey Mike's Franchise Systems, LLC). The company operates through a 99% franchised model with over 3,200 locations across the United States and Canada, supported by master franchise agreements for 300 additional Canadian locations (with Redberry Restaurants by 2034) and 400 UK/Ireland locations (with JM Submarines UK LTD, beginning 2026). Its core offering centers on cold subs (varieties including The Original Italian, Cancro Special, Turkey and Provolone, BLT) and hot subs (Mike's Famous Philly, Buffalo Chicken Cheese Steak, and other cheesesteaks), prepared in front of customers using fresh-sliced meats and cheeses, bread baked in-store daily, and hand-prepared vegetables. Supporting products and services include catering (subs by the box, bag, and boxed lunches), gift cards distributed through Target, Walmart, and Kroger as well as online, and digital ordering via a company-owned iOS/Android mobile app tied to the MyMike's loyalty program (Shore Points rewards).

The company's revenue model is asset-light and high-margin, generating the majority of corporate revenue through royalties calculated as a percentage of franchisee gross sales, supplemented by initial franchise and development fees, gift card sales, and e-commerce merchandise. Jersey Mike's reported company revenue of $309.8 million in FY2025 (up 10.6% year-over-year) against $4.2 billion in systemwide sales across the franchise base. Marketing is anchored by the annual Month of Giving campaign (which has raised over $143 million for local charities since 2011), an NFL presenting partnership, and broad social media presence across Facebook, X/Twitter, Instagram, TikTok, YouTube, and LinkedIn.

In late 2024, Blackstone acquired a majority stake at approximately $8 billion enterprise value, with founder Peter Cancro transitioning from CEO to Chairman of the Board (retaining ~10% equity). Charlie Morrison — former Wingstop Chairman and CEO who scaled the chain from fewer than 500 to over 2,000 stores — was appointed CEO effective April 28, 2025. The leadership team was subsequently expanded with President and COO Stacy Peterson (September 2025), CFO Michele Allen (December 2025), President of International Andy Skehan (November 2025), and first Chief People Officer Betsy Mercado (September 2025). The company confidentially filed for an IPO in April 2026 targeting a $12 billion-plus valuation and over $1 billion in proceeds, with Morgan Stanley, JPMorgan, and Jefferies leading the offering. Jersey Mike's holds the #1 ACSI QSR score (84/100 in 2026) and #1 ranking on Entrepreneur's Franchise 500 (2026).

Name

Jersey Mike's Subs

Legal name

Jersey Mike's Franchise Systems, LLC

Website

https://jerseymikes.com

Company type

Private

Founded year

1956

Operating status

Ipo

Headcount range

5,001–10,000 employees

Short description

Jersey Mike's Subs is a fast-casual sub sandwich franchise founded in 1956, operating 3,200+ franchised locations across the U.S. and Canada with $4.2 billion in 2025 systemwide sales. It serves individual consumers through fresh-made subs, catering, mobile ordering, and the MyMike's loyalty program.

Ownership category

akta.pro rank

Product category

Fast Casual Restaurants

NAICS

Food Service Contractors (72231), Special Food Services (7223)

SIC

Wholesale-Groceries & Related Products (5140)

akta.pro primary industry

Sandwiches & Subs QSR (THAFAAAD)

Keywords

• Submarine sandwich franchise
• Fast casual dining
• Sub sandwich catering
• Franchise restaurant system
• Quick service restaurant

Headquarters

HQ city

Manasquan

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Franchise Royalties: Jersey Mike's generates the majority of its revenue through royalties paid by franchise operators, calculated as a percentage of gross sales at each franchised location. This asset-light model provides high-margin recurring income streams with minimal capital requirements for corporate operations.
2. Franchise Fees: Initial franchise fees and development fees charged to new franchisees for the right to open and operate Jersey Mike's locations under the brand's system and standards.
3. Retail Products: Sale of gift cards (physical and digital) and merchandise through company website and third-party retail partners including Target, Walmart, Kroger, and others.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Jersey Mike's Subs is a submarine sandwich fast-casual restaurant franchisor founded in 1956 that operates through a 99% franchised model with over 3,200 locations in the U.S. and Canada. Its primary products are fresh-sliced cold subs and grilled hot subs (including cheesesteak varieties), supported by catering, the MyMike's loyalty program, a mobile ordering app, and gift cards distributed through retail partners.

Product overview

Jersey Mike's Subs operates a fast-casual submarine sandwich franchise business with a unified product portfolio centered on its core sandwich offerings. The company offers two main product lines: Cold Subs (fresh-sliced submarine sandwiches served cold with over 15 varieties including sandwiches like The Original Italian, Club Sub, and Tuna Fish) and Hot Subs (fresh-grilled sandwiches including cheesesteak varieties such as Mike's Famous Philly and Buffalo Chicken Cheese Steak). Supporting products and services include Catering (subs by the box, bag, and boxed lunches), the MyMike's loyalty program (Shore Points for earning and redeeming free subs), a Mobile App for ordering and location finding, Gift Cards (virtual and physical), and Sides/Drinks/Desserts (chips, fountain drinks, cookies, brownies). The company also operates an e-commerce store for merchandise. Founded in 1956, Jersey Mike's has grown to over 3,200 locations in the U.S. and Canada with international expansion underway to the U.K. and Ireland.

Differentiator

Problem solved

Functional benefit

Brands

• MyMike's™: Loyalty program offering Shore Points® for earning free subs, exclusive promotions, and personalized ordering experience.

Products and services

• Cold Subs Fresh-sliced submarine sandwiches served cold, including varieties such as Chicken Salad, Jersey Shore's Favorite, Ham and Provolone, The Veggie, Turkey and Provolone, Tuna Fish, Roast Beef and Provolone, The Original Italian, Club Sub, Club Supreme, BLT, and Cancro Special. Targeted at dine-in, takeout, and delivery customers seeking quick-service sandwiches.
• Hot Subs Fresh-grilled submarine sandwiches served hot, including cheesesteak varieties such as Mike's Famous Philly, Mike's Chicken Philly, Chipotle Cheese Steak, Chipotle Chicken Cheese Steak, Big Kahuna Cheese Steak, Big Kahuna Chicken Cheese Steak, Bacon Ranch Chicken Cheese Steak, California Chicken Cheese Steak, and Buffalo Chicken Cheese Steak. Targeted at dine-in, takeout, and delivery customers.
• Catering Catering services offering subs by the box (serves 12), subs by the bag, boxed lunches with chips and cookies, and cookies and brownies for events and gatherings. Targeted at offices, events, and group meal occasions.
• MyMike's Loyalty Program (Shore Points) Loyalty program allowing customers to earn Shore Points on purchases and redeem them for free subs, including birthday rewards and exclusive promotions, accessible as a registered online account. Targeted at frequent Jersey Mike's customers.
• Jersey Mike's Mobile App Mobile application for iOS and Android enabling customers to find locations, order delivery or pickup, manage MyMike's account and Shore Points, and access exclusive offers. Targeted at individual consumers.
• Gift Cards Virtual gift cards (same-day or scheduled delivery via email) and physical gift cards available at retail locations and online, including a bulk corporate gift card program. Targeted at gift purchasers and corporate gifting.
• Sides, Drinks, and Desserts Accompaniments including Lay's chips, fountain drinks (Pepsi products), bottled water (Aquafina), Celsius energy drinks, Gatorade, Stubborn Soda, Life WTR, Pure Leaf Tea, fresh-baked cookies, gluten-free snickerdoodle cookies, and brownies. Bundled with sandwich orders at the point of sale.

Quantifiable outcome

• ACSI score of 84 out of 100, highest among QSR brands in 2026
• +3 more outcomes

Segments2 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• Special OlympicscoreStrategic or Co-development Partner · 24 February 2026Jersey Mike's is presenting partner of the 2026 Special Olympics USA Games and has supported the organization since 1975. The company's Month of Giving campaign raised funds for athletes to attend the Games.
• JM Submarines UK LTD (Peter Cancro)coreChannel Partner/ Reseller/ Distributor · 12 January 2026Franchise agreement led by founder Peter Cancro to open 400 Jersey Mike's locations in the United Kingdom and Ireland, with first location planned for 2026.
• Redberry Restaurants (Canada)coreChannel Partner/ Reseller/ Distributor · 1 January 2024Area Director for Canada development agreement to open 300 Jersey Mike's locations across Canada within 10 years. Redberry operates existing locations in Ontario and is expanding throughout the country.
• Feeding AmericamajorStrategic or Co-development PartnerJersey Mike's has donated over $11 million to Feeding America over two years, helping provide over 110 million meals through the organization's network of food banks nationwide.
• Best Buddies InternationalmajorStrategic or Co-development PartnerPartnership supporting inclusion of individuals with intellectual and developmental disabilities. Jersey Mike's raised $4.3 million in November 2024 and established employment opportunities within restaurants.
• Wreaths Across AmericaminorStrategic or Co-development PartnerAnnual fundraising campaign supporting veterans' wreath-laying ceremonies at Arlington National Cemetery and across the country. Jersey Mike's has contributed over $3.5 million since 2010.
• National Football League (NFL)coreGTM or Marketing PartnerJersey Mike's is an NFL presenting partner, sponsoring events including the Super Bowl Experience and NFL Predictor Contest, enhancing brand visibility through major sports properties.
• USTA FoundationminorStrategic or Co-development PartnerJersey Mike's raised $4.5 million during a national fundraising event supporting the USTA Foundation's mission to bring tennis and education together for under-resourced youth.

Scale indicators13 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Potbelly Sandwich Shop: Sub sandwich-focused QSR chain operating a smaller footprint, competing in the same fresh-sandwich lunch occasion as Jersey Mike's with a similar freshly prepared positioning.
• Firehouse Subs: Direct sub sandwich QSR competitor founded on a similar quality-ingredients, hot-and-cold sub format. Operates a smaller but franchised footprint in the same category as Jersey Mike's.
• Jimmy John's: Direct competitor in the sub sandwich QSR space with a similar delivery-led, speed-focused positioning. Competes with Jersey Mike's for both dine-in and delivery occasions among sub-seeking consumers.
• Subway: Largest direct competitor in the sub sandwich QSR segment, with a substantially larger US footprint than Jersey Mike's. Both compete on the same value proposition of freshly prepared submarine sandwiches through a primarily franchised model.
• Chick-fil-A: The previous ACSI #1 QSR that Jersey Mike's dethroned in 2026. While a chicken-focused chain, it competes for the same fast-casual lunch and dinner occasions and benchmarks the customer satisfaction standard in the segment.
• Quiznos: Former sub sandwich QSR competitor that competed directly with Jersey Mike's on toasted submarine sandwiches. Useful as a cautionary comparable for sub category competitive dynamics.
• Wingstop: Highly franchised QSR chain that grew from fewer than 500 to 2,000+ stores and completed a successful IPO under CEO Charlie Morrison, now leading Jersey Mike's. Closely comparable on asset-light franchised QSR economics, digital, and growth profile.

Emerging players

• Domino's Pizza: Highly franchised, digital-led QSR chain with a strong delivery franchise model. Comparable on asset-light franchised QSR economics, digital ordering scale, and capital-light unit growth, though core product is pizza rather than subs.

Broad incumbents

• Wendy's: Major US QSR chain with a heavily franchised model. Competes with Jersey Mike's for lunch daypart traffic and serves as a benchmark for franchise system health and unit-level economics.
• McDonald's: Largest QSR incumbent in the US; competes with Jersey Mike's for breakfast, lunch, and dinner occasions. Useful comparable for systemwide sales scale and franchise economics, though core menu is burgers rather than subs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/jerseymikes
• YouTubeyoutube.com/jerseymikestv
• Facebookfacebook.com/jerseymikes
• LinkedInlinkedin.com/company/jerseymikes
• Instagraminstagram.com/jerseymikes
• TikToktiktok.com/@jerseymikes

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jersey Mike's Subs