How Jimmy John’s Restaurant Franchise Started

Jimmy John's in Wyoming
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As the CFO of Tom Wolf Co., Kevin Scott Woolf has been instrumental in the firm’s building of a real estate portfolio worth more than $40 million. Kevin Scott Woolf also serves as the CFO of Taylor Capital Holdings, a real estate firm with significant investments in several companies in Florida, including the Taylor Hotel in Winter Haven and the Tsunami Sushi restaurant in Lakeland. Taylor Capital Holdings is also planning to open new Jimmy John’s restaurants in Bartow and Winter Haven.

The story of how Jimmy John’s became one of the fastest-growing and most successful franchise restaurants in America started in 1982, a year before its owner and founder opened the first shop in Chicago. Fresh out of high school, Jimmy John Liautaud had low expectations of getting into his college of choice after he finished second to last in his graduating class. 

Jimmy John’s father wanted him to enlist in the Army, but Jimmy John insisted on starting a business. His father lent Jimmy John $25,000 with the understanding that Jimmy John had only one year to turn a profit or he would have to enlist in the army as his brothers did.

Jimmy John’s food business became profitable quickly, and in less than 12 years, he had opened 10 sub shops without incurring any debt. The business grew to 160 locations in 2002 and more than 2,800 locations in 2018.

The Gym, Health, and Fitness Clubs Industry in Florida is Booming

As the CFO of Taylor Capital Holdings, Kevin Scott Woolf oversees the acquisition, financing, and management of real estate properties. In this capacity, Kevin Scott Woolf has been actively involved in the planning of the construction of the Taylor Hotel in Winter Haven, Florida. He has also looked at purchasing a chain of gyms.

The gym, health, and fitness clubs industry in Florida is booming, according to industry market research conducted by IBISWorld, a company that provides market insights into a wide range of industries around the world. The gym, health, and fitness industry in Florida has experienced a one percent growth between 2014 and 2019, which is driven by the increasing preference for a healthier lifestyle. In 2019, the industry is expected to generate two billion dollars in revenue.

The same growth in revenue is accompanied by an increase in the number of related businesses, up to 7,365 in 2019. Currently, the Florida companies that hold the largest market share in the industry are Equinox Fitness, Fitness International, Life Time, Inc., and 24 Hour Fitness USA, Inc. The fitness companies' common products and services are personal training, membership fees, guest admissions, spa services, merchandise, and meals and drinks.

For more information about the IBISWorld industry reports, visit https://www.ibisworld.com.

Successfully Franchising a Company

Since 2016, Kevin Scott Woolf has been the chief financial officer of the Tom Wolf Co., a real estate investment firm based in Winter Haven, Florida. In addition, Kevin Scott Woolf purchases and manages companies as the CFO of Taylor Capital Holdings, LLC. Mr. Woolf has purchased at least one business through the company that he intends to franchise.

If you intend to grant franchises of your company, quality control throughout the entire franchise system is essential for success. If you do not establish and maintain quality control, your brand will struggle and your entire franchise may collapse.

You will need to implement a training program for your franchisees. Ideally, this training will consist of lessons that help franchisees understand what is expected of them and their team. 

On top of this, you must be available to provide ongoing support when franchisees need it. This will help your company run smoothly and profitably.

Basic Requirements for a Jimmy John’s Franchise

Based in Florida, Kevin Scott Woolf serves as the chief financial officer of Taylor Capital Holdings, a real estate firm that acquires and manages operating companies. As the leader of the firm, Kevin Scott Woolf is responsible for identifying businesses with the highest potential for free cashflow. One such venture involves opening two Jimmy John’s franchise locations in Florida.

Jimmy John’s is one of the fastest-growing restaurant chains in America, according to the 2018 Entrepreneur Franchise 500 rankings. This is attributed to Jimmy John’s effective management and a strong commitment to serving sandwiches made from fresh and all-natural ingredients, which it has done since 1983. Here are some of the basic rules and requirements to own a Jimmy John’s franchise.

Financials
Jimmy John’s requires a minimum of $80,000 cash and $300,000 net worth to ensure that the potential franchise owner has the financial capacity to start a business. The company also charges a “Royalty Continuing Services Fee” equivalent to 6 percent and an advertising-support fee of 4.5 percent of gross sales.

Training
Jimmy John’s offers a seven-week management-training program to new owners. Trainees attend classroom sessions at Jimmy John’s Training Center in Champaign, Illinois, and participate in a four-week apprenticeship in another restaurant location.

Adherence to Quality Standards
Jimmy John’s follows a set of operational rules to maintain its brand image of offering fresh food items. Each location bakes fresh bread every day. Meats and veggies are delivered from local sources daily and hand-sliced in-house for optimum freshness.

International Council of Shopping Centers Offers Educational Programs

Kevin Scott Woolf serves as the chief financial officer of Tom Wolf Co. LLC, where he identifies and makes real estate investments that generate free cash flow. To stay current on industry trends, Kevin Scott Woolf is a member of the International Council of Shopping Centers (ICSC). He attended the organization's annual conference in Orlando in 2018.

Representing the interests of America’s shopping-center owners, the ICSC offers comprehensive professional-development programs that allow members to sharpen their management skills and grow their businesses. Some ICSC initiatives are designed to immerse participants in real-world business case studies, which provide valuable perspectives on current industry conditions and strategies for growth. Aside from these exercises, the ICSC organizes a variety of dynamic lectures, small group discussions, and customized workshops at its live conferences. 

In addition to in-person education, the organization offers a robust online-learning program to help members navigate new developments in the retail real estate industry. Participants can learn at their own pace through self-guided online courses and expand their knowledge on a range of topics through monthly live webinars.

Historical Buildings to be the Site of New Taylor Hotel

Based in Winter Haven, Florida, Kevin Scott Woolf serves as chief financial officer of Taylor Capital Holdings, LLC, as well as with Tom Wolf Co. LLC. Among the ongoing business ventures he is involved with is the renovation of two historical downtown Winter Haven properties, which together will be turned into the Taylor Hotel. Kevin Scott Woolf is assisting Jeff Donalson, his business partner at Tom Wolf Co., with the project.

The hotel is set to consist of two properties - a two-story and a six-story building - at the intersection of West Central Avenue and 3rd Street. According to the Winter Haven Chamber of Commerce, these two structures are among the city’s oldest. The smaller building dates from 1915. DeWitt Taylor, who relocated to the area from Michigan and developed a banana plantation, had the taller building (known as the Taylor Building) constructed in 1926 under the direction of architect H. A. Tilldan.

When complete, the Taylor Hotel will be prepared to offer an upscale destination to travelers from all over the world. Its branding will position it as a blend of local historical flavor and an array of sophisticated 21st century amenities, including a rooftop bar and a conference space.