Jersey Mike's Subs vs. Firehouse Subs vs. Jimmy John's vs. Subway
Four sandwich franchises, from a system that discloses no Item 19 to systems that disclose quartiles. Every figure below comes from each brand’s own Franchise Disclosure Document, with its evidence tier. Where a brand did not disclose something, the cell says so.
Jersey Mike's Subs (2026 FDD) lists a total initial investment of $436,176 to $1,162,228. Royalty plus ad fund total 11.5% of sales. Item 19 reports average unit sales of $1,367,578 across 2,606 units for 2025-12-28. Franchised outlets moved from 2,361 to 3,201 between 2023 and 2025 (+840), with 874 openings, 34 exits and 391 transfers. Evidence confidence: High.
Firehouse Subs (2026 FDD) lists a total initial investment of $405,350 to $875,950. Royalty plus ad fund total 11% of sales. Item 19 reports average unit sales of $973,809 across 1,033 units for FY2025. Franchised outlets moved from 1,149 to 1,249 between 2023 and 2025 (+100), with 182 openings, 82 exits and 260 transfers. Evidence confidence: High.
Jimmy John's (2026 FDD) lists a total initial investment of $366,200 to $733,500. Royalty plus ad fund total 10.5% of sales. Item 19 reports average unit sales of $1,007,437 across 2,581 units for FY2025. Franchised outlets moved from 2,597 to 2,737 between 2023 and 2025 (+140), with 269 openings, 129 exits and 499 transfers. Evidence confidence: High.
Subway (2026 FDD) lists a total initial investment of $263,000 to $630,000. Royalty plus ad fund total 12.5% of sales. There is no Item 19 financial performance representation. Franchised outlets moved from 20,576 to 18,773 between 2023 and 2025 (-1803), with 1407 openings, 3082 exits and 4487 transfers. Evidence confidence: High.
| Metric | Jersey Mike's Subs | Firehouse Subs | Jimmy John's | Subway |
|---|---|---|---|---|
| Overview | ||||
| Category | Food & QSR FDD | Food & QSR FDD | Food & QSR FDD | Food & QSR FDD |
| FDD year | 2026 FDD | 2026 FDD | 2026 FDD | 2026 FDD |
| Total outlets (latest FY) | 3,227 FDD | 1,291 FDD | 2,777 FDD | 18,773 FDD |
| Investment | ||||
| Total investment (Item 7) | $436,176 – $1,162,228 FDD | $405,350 – $875,950 FDD | $366,200 – $733,500 FDD | $263,000 – $630,000 FDD |
| Initial franchise fee (named Item 5 fee only) | $20,000 FDD | $20,000 FDD | $35,000 FDD | $15,000 FDD |
| Fees | ||||
| Royalty | 6.5% FDD | 6% FDD | 6% FDD | 8% FDD |
| Ad / brand fund | 5% FDD | 5% FDD | 4.5% FDD | 4.5% FDD |
| Royalty + ad fund Sum where both are a percent of sales |
11.5% Derived | 11% Derived | 10.5% Derived | 12.5% Derived |
| Disclosed performance | ||||
| Item 19 present | Yes FDD | Yes FDD | Yes FDD | No FDD |
| Average unit sales (annual) Populations differ by brand — read each profile |
$1,367,578 FDD | $973,809 FDD | $1,007,437 FDD | No Item 19 N/D |
| Median unit sales | $1,305,850 FDD | $938,981 FDD | $955,639 FDD | Not disclosed N/D |
| Cost / profit data in Item 19 | No FDD | Yes (see profile for population) FDD | No FDD | No FDD |
| AUV ÷ midpoint investment | 1.71× Derived | 1.52× Derived | 1.83× Derived | Not enough evidence N/D |
| System health (Item 20) | ||||
| Franchised unit change | +840 (+35.6%) 2023–2025 Derived | +100 (+8.7%) 2023–2025 Derived | +140 (+5.4%) 2023–2025 Derived | -1803 (-8.8%) 2023–2025 Derived |
| Openings (period) | 874 FDD | 182 FDD | 269 FDD | 1407 FDD |
| Exits (period) Terminations + non-renewals + reacquisitions + ceased-other |
34 Derived | 82 Derived | 129 Derived | 3082 Derived |
| Avg. annual attrition | 0.4% Derived | 2.3% Derived | 1.6% Derived | 5.1% Derived |
| Transfers (period) | 391 FDD | 260 FDD | 499 FDD | 4487 FDD |
| Operations | ||||
| Owner involvement (Item 15) | Owner-operator required FDD | Owner-operator required FDD | Owner-operator required FDD | Manager-run permitted FDD |
| Multi-unit program disclosed | Yes FDD | Yes FDD | Yes FDD | Yes FDD |
| Estimates | ||||
| Economics model available | Yes — model estimate on profile | Yes — model estimate on profile | Yes — model estimate on profile | No (insufficient disclosure) |
| Ratings | ||||
| Financial Disclosure Quality | 3 / 5 Derived | 4 / 5 Derived | 3 / 5 Derived | 1 / 5 Derived |
| System Growth | 5 / 5 Derived | 4 / 5 Derived | 4 / 5 Derived | 1 / 5 Derived |
| Unit Stability | 5 / 5 Derived | 4 / 5 Derived | 5 / 5 Derived | 3 / 5 Derived |
| Investment Efficiency | 4 / 5 Derived | 4 / 5 Derived | 4 / 5 Derived | Not enough evidence Derived |
| Evidence Confidence | High Derived | High Derived | High Derived | High Derived |
Populations behind AUV figures differ (mature units, all units, gross vs. net sales). Growth and attrition are our arithmetic on Item 20. Open each profile for citations, caveats and the full Item 19 and Item 20 tables. Edit this comparison to swap brands.