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.