Many people think of franchises as individually owned, mom-and-pop run businesses. On the contrary, many large corporate style operators with access to large quatities of capital have been in the business for a while. For example, I’ve heard a lot of about Lenny’s Sub Shop lately but haven’t been in one. The company started in 2001 and now has 63 franchises in the southeastern United States.
Looking at the photos on their web site, the Lenny’s ubs looks very similar to Jersey Mike’s, and somewhat similar to Jimmy John’s.
Lenny’s cost to open a store is claimed to be under $225,000, which includes all fees, build out costs and initial operating capital. The roaylty AND national marketing fees total 7%. Maybe worth a look.
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Ryan is an attorney and valuation specialist residing in Chicago. He chronicles his thoughts and research on FranchisePundit.com. You may reach him by email ryanknoll@gmail.com or mobile telephone 312-715-8115.
Isn’t a sub sandwich a sub sandwich? I don’t understand how one sub franchise can do that much better than another.
Food quality and style, atmosphere, marketing, promotions, buzz, and many other elements impact a person’s decision to eat at a sandwich franchise. That being said, what ultimately is important is the impression of the consumer and if they can articulate the difference.
[...] teresting Posted by: Franchise Pundit on June 24, 2005 @ 4:00 am A few months ago we reported that Lenny’s signed a deal to open 125 Lenny’s Sub Sho [...]