Jersey Mike's Franchise Cost 2026: FDD Fees + IPO Filing

Jersey Mike’s franchise cost is $436,176 to $1,162,228 for an individual restaurant, including $47,250 to $49,250 paid to the company, according to its US FDD issued April 10, 2026.

Jersey Mike’s filed an S-1 on July 2, 2026 and completed its initial public offering on July 31, 2026, per its Form 10-Q; its Class A stock is listed on the NYSE as JMKE.

The latest system count in the filings cited here is 3,378 total stores at June 28, 2026, including 36 non-traditional stores, reported in the Form 10-Q filed September 9, 2026.

Jersey Mike’s franchise cost from the April 10, 2026 FDD

The US FDD issued April 10, 2026 is the primary source for these costs and contract terms. Its host filename says 2025; the document’s cover gives the April 10, 2026 issuance date.

FDD item	Disclosure
Cover and Item 7: total initial investment	$436,176 to $1,162,228 for an individual restaurant; $47,250 to $49,250 paid to the company
Item 5: initial fees	$20,000 initial franchise fee plus $10,000 development fee per restaurant, including a single restaurant; both non-refundable, with no development-fee credit toward the franchise fee
Item 6: ongoing royalty	6.5% of Gross Receipts
Item 6: advertising funds	Currently 1% of Gross Receipts to the Corporate Advertising and Development Fund plus 4% to the National Media Fund
Item 12: territory	Non-exclusive; a designated area typically extends 0.5 to 1 mile from the restaurant, with exceptions and reserved rights for non-traditional venues and other channels
Item 17: term and renewal	Term starts at signing and expires 10 years after opening; one additional 10-year term subject to conditions, including a $20,000 successor franchise fee
Item 20: fiscal year-end 2025	3,201 franchised and 26 company-owned outlets, totaling 3,227 at December 28, 2025; includes 37 non-traditional locations
Applicant capital requirements	The April 10, 2026 FDD states no net-worth or liquid-capital minimum for franchise applicants

Item 5 details. The development fee is due when the area development agreement is signed; the franchise fee is due when each franchise agreement is signed. Item 5 reports a reduced $8,500 initial franchise fee charged in fiscal 2025 to certain existing franchisees acquiring or obtaining development rights for additional restaurants. It states no veteran discount. It also describes discretionary financing through the Coach Rod Smith Program for qualified managers, rather than a fee discount. Other company payments are $10,000 for grand-opening advertising (not due when purchasing an existing franchised restaurant), $4,500 for the POS network connection, $2,000 to $4,000 for the POS license and $750 for initial credit-card processing software.

Item 7 breakdown. The FDD presents one investment table, not separate totals by format:

Expenditure	FDD amount
Development fee	$10,000
Initial franchise fee	$20,000
Rent, CAM, taxes, lease and utility security deposits	$10,579 to $19,848
Architectural fees	$8,412 to $29,827
Leasehold improvements	$147,495 to $658,581
Equipment, furniture and small wares	$138,434 to $159,872
Initial inventory	$13,805 to $25,797
Insurance	$4,125 to $21,670
Training	$14,299 to $27,879
Grand-opening advertising	$10,000
Exterior signage	$12,087 to $38,838
Interior branding and graphics	$3,507 to $10,419
Uniforms, office equipment and supplies, TVs, stereo and security system	$6,116 to $19,458
POS system	$7,500 to $15,000
POS connection to private network	$4,500
POS license	$2,000 to $4,000
Initial credit-card processing software	$750
Professional fees	$4,577 to $28,234
Business licenses and permits	$500 to $25,000
Additional funds for 3 months	$17,490 to $32,555
Total	$436,176 to $1,162,228

Renewal requires compliance with the agreement and current standards, notice 6 to 12 months before expiration, continued possession of the premises, current qualifications and training, the then-current agreement and a general release. The company must still be offering franchises in the area. Item 20’s company-owned category refers to affiliate-owned restaurants; its footnote says eight formerly company-owned outlets were reclassified as franchised in 2025 following the acquisition. These year-end FDD counts are separate from the later quarterly system count above.

For Canadian buyers: The Canadian investment page, citing the 2023 Canada disclosure document, lists an $18,500 initial franchise fee and $209,449 to $1,347,580 total investment in US dollars; these are Canadian-market figures, not the April 10, 2026 US FDD range.

Both things are true, and the combination is the point

Its S-1 and final prospectus state: “Over 90% of this pipeline is being undertaken by existing franchise owners”. The disclosed committed development pipeline exceeds 1,600 stores.

The same filings state that, as of December 28, 2025, “more than 330 franchise owners operate only one or two stores”, within a base of more than 630 unique franchise owners. They also state: “The largest franchise owner operates 91 stores, representing approximately 3% of total system stores as of December 28, 2025.”

These disclosures measure different things: existing ownership and committed future development. The presence of one- and two-store owners does not establish which markets or development rights are available to a new applicant today.

The fee structure, from the filings

The S-1 states “a continuing royalty fee of 6.5% of gross receipts” and “a total advertising fund contribution equal to 5.0% of gross receipts”. The final prospectus repeats the royalty language. These percentages and the gross-receipts basis match the FDD’s current 6.5% royalty and combined 1% plus 4% fund contributions.

The Item 6 fee table says combined advertising-fund payments will not exceed 6% of Gross Receipts. Its Note 3 separately says contributions may each increase to 6% on 90 days’ notice. Those provisions use different wording; the current 5% contribution should not be treated as a fixed lifetime rate.

For other sandwich franchises, see Firehouse Subs, Which Wich and Jimmy John’s vs Wayback Burgers.

Not in the public filings (as of October 14, 2026)

The April 10, 2026 FDD and the S-1 and S-1/A cited here state no franchise-applicant net-worth or liquid-capital minimum. The dated pipeline disclosures also do not establish current availability for a particular applicant’s market. Request the applicable qualification criteria and available development territory directly.

The Item 5 guide explains initial fees, and the FDD walkthrough explains how to read the complete disclosure alongside the agreements.

What this means if you are considering one

Use the US FDD’s total investment range for the initial budget, including the separate development and franchise fees. The owner-count disclosures show that one- and two-store ownership exists in the system; they do not establish an individual applicant’s eligibility or likely outcome.

Because existing owners account for over 90% of the disclosed development pipeline, ask which territories and development commitments are available now. Speak with current and former franchisees from Item 20 about the practical demands of owning one or two stores.

Talk to the one- and two-store owners first

Our free validation-call script has the questions for current and former franchisees listed in Item 20: money, operations, the franchisor relationship, and why some left. Plus the due-diligence kit.

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SBA Franchise Directory: Jersey Mike’s Subs; Jersey Mike’s appears in the SBA’s Franchise Directory file effective October 9, 2026 (SBA Franchise Identifier Code S0901; franchisor certification marked received). A listing is what a lender checks for brand eligibility; it is not an endorsement, and your own eligibility as a borrower is assessed separately. See how to check the SBA Franchise Directory. The file notes a rider condition when real estate secures the loan.

Questions to ask Jersey Mike’s before you sign

• What applicant liquid-capital and net-worth thresholds apply beyond the April 10, 2026 FDD, which states none?
• Which Item 7 assumptions fit my proposed site, and what local quotes support the budget?
• Is a one-restaurant development commitment available in my market, and what opening schedule applies?
• Which territories are currently available outside the committed development pipeline?
• Do I qualify for any initial-fee reduction, and will it be documented in my agreements?
• How do the advertising table’s combined cap and Note 3’s increase language apply to my agreement?
• Which current and former one- and two-store owners listed in Item 20 can discuss their experience?
• Will a franchise attorney and an accountant review the full FDD with me before I commit?