Jersey Mike's Subs today announced record-breaking growth in 2013, opening 140 new locations with unit growth of 22 percent. In addition, the company reported a system-wide sales increase of 22 percent, to $406 million.
According to a news release, Jersey Mike's has nearly doubled in size in the past three years. Started in 1956, the sub chain now has more than 1,300 restaurants open and under development nationwide.
"While we've seen another year of record growth, we remain focused on the right growth – finding franchise partners who are excellent operators and share our passion for serving a 'sub above,'" said Hoyt Jones, president, Jersey Mike's.
Last year, Jersey Mike's awarded 85 territories representing 230 restaurants. This included signing up multi-brand, multi-unit franchisees as well as awarding 31 territories to existing franchisees.
According to Jones, the momentum is expected to continue for 2014, with a projected 200 locations expected to open. Key areas of growth include Northeast Corridor, Pacific Northwest, Rocky Mountain States and Upper Midwest.
"In 2014, Jersey Mike's is looking for franchisees in target markets including New York/N.J., Northern California, Philadelphia, Boston, Atlanta and satellite markets throughout the country," said Jones, adding that the company is now in most major markets with the opening of its first Manhattan location in July 2013.
Jersey Mike's also opened its first non-traditional markets in 2013 and, behind the hiring of industry veteran Phil Capozzi, the company expects more growth in this area. Locations opened last year included McCarran International Airport in Las Vegas, Newark Liberty International Airport, Monmouth (N.J.) University and Amtrak's 30th Street Station in downtown Philadelphia.
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