Franchise News
With more than 3,200 locations and backing from Blackstone, Jersey Mike’s positions itself as a top contender for investor interest amid shifting restaurant market dynamics.
Jersey Mike’s is preparing for a potential initial public offering after confidentially filing an S-1 with the U.S. Securities and Exchange Commission, according to a recent press release.
The brand’s rapid expansion is a key driver behind this decision. Jersey Mike’s has grown from 2,387 locations at the start of 2023 to more than 3,200 stores in early 2026, positioning itself as a serious challenger to Subway in the sub sandwich category. This growth has been further accelerated by Blackstone's acquisition of a majority stake in 2024.
A major differentiator for Jersey Mike’s is its strong unit-level performance. The brand reports an average unit volume of about $1.4 million for mature stores, significantly higher than Subway’s estimated $500,000 AUV.
While IPO activity was relatively quiet in 2025, the successful public debut of Black Rock Coffee Bar has raised optimism that more brands could follow. At the same time, several restaurant companies, such as Denny’s, have moved in the opposite direction, going private or exploring alternatives to avoid public-market pressures.
Read the full press release here.
Want to learn more about how 1851 helps franchisees find the right franchise opportunity? Visit www.1851growthclub.com and start your journey.
Sign up for the 1851 Franchise newsletter to get our biggest stories before everyone else
By signing up, you agree to our user agreement (including class action waiver and arbitration provisions), and acknowledge our privacy policy.
