TL;DR
Jersey Mike's has filed for a $12 billion IPO, revealing nearly 20 years of positive growth and a 3,300-unit system that is 99% franchisee-owned. The company has over 3,000 domestic locations and $4.3 billion in sales.
The sandwich chain was founded in 1956 and has exploded to more than 3,000 domestic locations and $4.3 billion in sales.
It’s official — Jersey Mike’s is going public. The sandwich chain filed its S-1 with the SEC on Thursday, targeting a valuation of at least $12 billion and planning to trade on the New York Stock Exchange, according to CNBC. When we first reported the confidential filing back in April, the numbers weren’t public yet. Now they are — and they’re impressive.
Same-store sales climbed 50% cumulatively from 2020 through 2025, part of nearly 20 consecutive years of positive growth. System-wide sales hit $4.3 billion last year, up 13%. Net income jumped from $5 million in 2024 to $55 million in 2025. The chain now has more than 3,300 locations across all 50 states, with 99% run by franchisees.
The company believes it can eventually grow to 7,500 US locations. CEO Charlie Morrison, who previously led Wingstop through its own IPO, is now calling the shots from behind the counter at Jersey Mike’s. “We believe we are still in the early innings of our domestic growth opportunity,” he wrote in the filing.
In this story
This story was originally published by Jonathan Small in Entrepreneur Franchise on July 6, 2026. Burnaze summarizes and links to the original reporting.
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