Subway vs Jersey Mike's
Compare franchise fees, investment range, royalties, SBA lending performance, unit growth, and Item 19 transparency with a permanent shareable URL.
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Subway
QSR
Investment
$263K to $630K
Franchise fee
$15,000
Item 19 status
No Item 19
Units
20,133
Jersey Mike's
QSR
Investment
$186K to $1.4M
Franchise fee
$20,000
Item 19 status
Cost Data Only
Units
2,647
Lower entry cost
Leans right
Based on minimum initial investment.
Better disclosed economics
Jersey Mike's
Uses Item 19 availability and transparency status.
Lower SBA default risk
Leans right
Treat low-loan brands carefully, sample size matters.
| Metric | Subway | Jersey Mike's |
|---|---|---|
Franchise Fee | $15,000 | $20,000 |
Min Investment | $263K | $186K |
Max Investment | $630K | $1.4M |
Royalty Rate | 8.0% | 6.5% |
Ad Fund Rate | 4.5% | 1.0% |
Total Ongoing Burden Royalty plus ad fund when available. | 12.5% | 7.5% |
Median Revenue (Item 19) | N/A | $1.3M |
Cash-on-Cash Return Estimated when revenue and margin assumptions are available. | N/A | 8.8% |
Payback Period | N/A | 11.3 yrs |
Revenue per Dollar Invested | N/A | 1.60x |
Franchised Units | 20,133 | 2,647 |
1-Year Net Unit Change | -631 | 308 |
Net Unit Growth Rate | -3.1% | 13.0% |
Net Closure Rate Net closure proxy based on disclosed unit change. | 3.0% | N/A |
SBA Default Rate | 8.1% | 1.8% |
SBA Loan Count Use this to judge whether SBA default data is statistically meaningful. | 1,219 | 462 |
Average SBA Loan Size | $286K | $402K |
Item 19 Status | No Item 19 | Cost Data Only |
Has Item 19 | No | ✓ Yes |
Data Quality Score | 85 | 100 |
What stands out
- • Subway opens at $263K to $630K, while Jersey Mike's ranges from $186K to $1.4M.
- • Subway shows no Item 19 disclosure; Jersey Mike's shows an Item 19 disclosure.
- • Subway has 20,133 franchised units versus 2,647 for Jersey Mike's.
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Last updated: April 2026