Jersey Mike’s Subs Inc. is a high-growth franchisor of fast casual, submarine-style sandwich restaurants specialising in hand-crafted subs. Built over 70 years since its founding in 1956, the company operates one of the largest and fastest-growing limited-service sandwich brands in the United States, with approximately 3,300 stores across all 50 states and two countries (the United States and Canada), of which roughly 99% are franchised. The brand generates most of its revenue from royalties and advertising fees tied to franchise-owner sales, supplemented by a small number of company-owned stores. In Fiscal 2025, Jersey Mike’s reported systemwide sales of approximately USD 4.2 billion, an Average Unit Volume (AUV) of approximately USD 1.4 million, and franchise-owner Cash-on-Cash Returns of approximately 42%. The system includes a MyMike’s loyalty base of over 12.5 million active members, a development pipeline of more than 1,600 stores (over 90% committed by existing franchise owners), and a national marketing platform anchored by its designation as the Official Sub Sandwich Partner of the NFL. In January 2025, funds affiliated with Blackstone acquired a majority interest in the business for USD 6.3 billion, and following this offering the company will operate as a controlled company under an umbrella partnership-C-corporation (Up-C) structure.
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