Jersey Mike’s franchise system is consolidating into the hands of large, multi-unit operators ahead of the sandwich chain’s planned initial public offering, according to a new analysis from ZoomInfo.
Consolidation Trends
The top 10 operators control about 16% of U.S. locations, the top 25 control about 25%, and the top 50 control about 36%. No single operator dominates, with the largest running about 90 stores, roughly 3% of the system.
Store transfers between franchise owners tripled to 218 in 2025, up from 77 in 2024 and 96 in 2023, the highest total in at least five years. Over that same five-year window, Jersey Mike’s recorded zero franchise terminations and zero non-renewals.
Jersey Mike’s reports a development pipeline of more than 1,600 stores, with over 90% committed by existing franchise owners. ZoomInfo identified 190 locations that Jersey Mike’s year-end 2025 filing listed as under construction, concentrated in Texas, California, and New York.
Original reporting: KTVZ (Central Oregon) — read the source article.
