Looking to enter the $300+ billion QSR industry? A brand to consider is the Penn Station East Coast Subs franchise. The fast-casual sandwich brand was established in 1985 by Jeff Osterfeld, who began franchising the concept in 1988. Since then, Penn Station has expanded to more than 320 locations across the country. With more than 30 years of franchising experience, franchisees are provided with great support and training, which details everything you need to know about running the business. Topics covered include: General Operations, Bookkeeping and Reporting, Company Policy and Franchise Requirements, Employee Orientation, Use of Equipment, and food preparation. After your location is open, you still get great support with site selection, restaurant design, construction support, IT, online ordering, operations and training, marketing, and financial reporting.
In terms of the initial investment, it ranges between $365,361 to $696,030. The ideal candidate has a net worth of at least $500,000 and $300,000 in cash or liquid assets. Franchise owners benefit from training and the franchisor's 30 years of franchising experience. The brand is known for their cheesesteaks and sandwiches and only using the freshest ingredients. Each Penn Station franchise group has to appoint one full-time “Managing Owner” who will be responsible for the operational performance of the restaurant and attend the four-week training program in Cincinnati, Ohio. Additionally, they must have restaurant management experience and own a minimum of 10% equity and live in or near the market where your restaurants will be located. Many potential franchisees that do not have a managing owner candidate can utilize a recruiter to locate a qualified candidate.