Jersey Mike's Franchise Cost and Profits in 2026

July 2026 S-1 update

Jersey Mike's publicly filed its Form S-1 on July 2, 2026 and plans to list Class A common stock on the NYSE under ticker JMKE. The S-1 discloses more than 3,300 restaurants, approximately $4.3 billion of systemwide sales, roughly $1.4 million in average unit volume (AUV), $724 million in fiscal 2025 company revenue, and a 50% cumulative same-store sales increase from 2020 to 2025. The company opened 250+ net new stores last year and carries a development pipeline of more than 1,600 future locations — over 90% committed by existing franchise operators. Digital channels drive approximately 42% of customer occasions. The filing also reports more than 12 million Shore Points loyalty members.

For franchisee concentration, the S-1 states that approximately 80 franchise owners operate 10+ stores each, while 330+ owners operate only one or two locations — a diversified base with no single dominant operator. Blackstone is expected to remain a controlled-company holder after the IPO, and company proceeds are expected to repay debt. That makes operator validation more important: ask whether public-company growth targets, debt repayment and sponsor control are improving four-wall economics or mainly increasing development pressure.

Primary source: Jersey Mike's July 2, 2026 S-1. See also our franchise IPO tracker for the full 2026 IPO pipeline.