Jersey Mike’s broke into the Top 100 in 2013, with 21.2-percent same-store sales growth. In the Latest Year, it beat that pace, with 29.3-percent growth, catapulting it from 95th place to 81st place.
The LSR/Sandwich chain increased its unit count by 20.2 percent, finishing the Latest Year at 857 locations. That pace was a bit slower than the Preceding Year, when it grew its number of units by 22 percent. But it was still the fastest-growing chain in the Top 100, both in terms of same-store sales and units. Its estimated sales per unit rose 6.8 percent, ranking it seventh in that category.
Jersey Mike’s has a solid record of community involvement, a common factor among many of the fastest-growing chains. It donates to dozens of different charities in the markets where it operates. Its parent company, Jersey Mike’s Franchise Systems Inc., based in Manasquan, N.J., launched its first branding campaign last March, during its annual “Month of Giving.” The campaign had a dual message of using quality ingredients and trying to give back to the community — both factors that consumers appear to be looking for.
Key’s to growth:
Consistent leadership. Jersey Mike’s Franchise Systems Inc. founder and CEO Peter Cancro has spent his entire career at the company. He started at the original Mike’s Subs in Point Pleasant, N.J., in 1971, and bought the restaurant from its founder in 1975, at age 17. The company’s president, Domino’s Pizza veteran Hoyt Jones, has been with Jersey Mike’s since 2007.
Corporate culture. Cancro stresses hospitality and speed of service in training, while marketing messages focus on the quality of ingredients and charitable activities. Cancro seeks franchisees who share his corporate values of leadership by example and celebration of excellence.
Managed growth. Although Jersey Mike’s is now the fastest-growing large chain in the country, Cancro owned Jersey Mike’s for a dozen years before selling his first two franchises in 1987. It took more than a decade to reach 100 units, in 1998. The chain hit 400 locations in 2009, and now has more than 850 units.
Consistent menu. Jersey Mike’s focuses on execution rather than menu expansion or limited-time offers, although it recently added a Chicken Bacon Ranch Cheese Steak to its permanent menu.
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