
"There's probably a Jersey Mike's sandwich shop in your local mall, or in that strip plaza with all of your favorite weekend shopping hot spots. If you visit another state, you'll probably also spot a Jersey Mike's in the same places, or even at the airport itself. One of Jersey Mike's main competitors, Jimmy John's, isn't nearly as prevalent in the everyday world - but why is there such a big discrepancy between the two?"
"CEO Peter Cancro is so passionate about the Jersey Mike's brand that the low closure rate has a lot to do with his personal involvement. If something isn't working out, Cancro is willing to help the owner fix the issue, find a new owner, or buy the franchise out, rather than closing the store, according to Forbes. Plus, Jersey Mike's franchise owners are almost as loyal to the brand as Cancro, given that a majority of them are previous employees."
Jersey Mike's operates over 3,000 stores across all 50 states, with the highest concentration in California. Only about 100 Jersey Mike's locations have closed or been sold since Peter Cancro became CEO 50 years ago, representing roughly 3.5% of the chain, compared with Jimmy John's 10.2% closure rate. The low closure rate reflects active CEO involvement, owner support, willingness to buy or transfer struggling franchises, and extensive franchise training averaging about 360 hours per owner each year. The brand has grown 13–15% recently, adding over 1,000 new stores in the past few years.
Read at Tasting Table
Unable to calculate read time
Collection
[
|
...
]