Subway vs Jersey Mike's
Franchise Comparison (2026)
2026 FDD Data
Jersey Mike's generates 2.3x more revenue ($1.1M vs $480K) with only 1% failure rate, but requires $250K-$955K investment. Subway offers the lowest QSR entry point ($116K) and largest network (20,000 units), but faces market share decline and lower unit economics.
Subway and Jersey Mike's represent two different strategies in the sub sandwich franchise market. Subway, once controlling 56% market share, has seen decline while Jersey Mike's has surged from 6% to projected 13% share by 2025. Subway offers the lowest entry cost in QSR at $116K-$263K but generates only $480K average revenue. Jersey Mike's requires nearly 4x the investment but delivers 2.3x the revenue at $1.1M per location. This comparison analyzes whether Subway's scale or Jersey Mike's premium positioning offers the better franchise opportunity.
Quick Comparison
Subway
$15,000
Jersey Mike's
$18,500
Subway
$116K - $263K
Jersey Mike's
$250K - $955K
Subway
8%
Jersey Mike's
6.5%
Subway
20,000
Jersey Mike's
2,800
Subway
$480,000
Jersey Mike's
$1.11M
Detailed Comparison
| Metric | Subway | Jersey Mike's |
|---|---|---|
| Initial Investment | ||
| Franchise Fee | $15,000 | $18,500 |
| Total Investment (Low) | $116,000 | $250,000 |
| Total Investment (High) | $263,000 | $955,397 |
| Net Worth Required | $80,000 | $300,000 |
| Liquid Capital Required | $30,000 | $100,000 |
| Ongoing Fees | ||
| Royalty Rate | 8% | 6.5% |
| Advertising Fund | 4.5% | 4% |
| Technology Fee | Not Disclosed | Not Disclosed |
| System Size & Growth | ||
| Total Units | 20,000 | 2,800 |
| Franchised Units | 20,000 | 2,800 |
| Company-Owned Units | 0 | 0 |
| 3-Year Net Growth | Not Disclosed | Not Disclosed |
| Financial Performance (Item 19) | ||
| Item 19 Disclosed | Yes | Yes |
| Average Revenue | $480,000 | $1,113,000 |
| Median Revenue | Not Disclosed | Not Disclosed |
| Franchise Terms | ||
| Initial Term | Not Disclosed | Not Disclosed |
| Renewal Term | Not Disclosed | Not Disclosed |
| Territory Protection | Not Disclosed | Not Disclosed |
| Requirements | ||
| Owner-Operator Required | Not Disclosed | Not Disclosed |
| Training Hours | Not Disclosed | Not Disclosed |
| Years Franchising | 61 years | 70 years |
| Risk Indicators | ||
| Litigation Matters | Not Disclosed | Not Disclosed |
| Termination Rate | Not Disclosed | Not Disclosed |
Key Differences
Jersey Mike's averages $1.1M revenue vs Subway's $480K
Subway investment starts at $116K; Jersey Mike's starts at $250K
Subway has 20,000 locations; Jersey Mike's has 2,800 (and growing 350+/year)
Jersey Mike's has 1% failure rate; Subway has experienced net unit decline
Subway charges 12.5% total fees (8% + 4.5%); Jersey Mike's charges 10.5%
Subway's market share fell from 56% to 46% (2019-2023); Jersey Mike's grew to 13%
Investment Fit Analysis
Who Should Consider Subway
Subway suits first-time franchisees seeking the lowest possible entry point into food franchising, willing to accept lower unit economics for a proven global brand.
Lowest investment in QSR ($116K-$263K)
Only $30K liquid capital required
Largest sub sandwich network (20,000 units)
Simple operating model
Market share has declined significantly
Lower average revenue ($480K)
Who Should Consider Jersey Mike's
Jersey Mike's suits investors seeking premium positioning with strong growth trajectory and superior unit economics, who have the capital for a larger investment.
Higher average revenue ($1.1M)
Only 1% first-year failure rate
Aggressive growth (350 new units/year)
Market share growing (6% to 13%)
Higher investment required ($250K-$955K)
$300K net worth requirement
Frequently Asked Questions
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Disclaimer
This comparison is provided for informational purposes only. Data has been aggregated from publicly available sources including Franchise Disclosure Documents, industry publications, and franchise analysis websites.
Prospective franchisees should review the complete FDD for each franchise, conduct their own due diligence, and consult with qualified legal and financial advisors before making any investment decisions.