What is the legal structure of A Sub Above, LLC, the franchisor for Jersey Mikes?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
A Sub Above, LLC (The "Franchisor") was formed as a Delaware limited liability company in connection with the initial 2019 securitization transaction, which is further described in Note 4—Securitization Transactions. The Franchisor is a direct wholly owned subsidiary of Jersey Mike's Funding, LLC. The principal activity is the franchising of the Jersey Mike's submarine sandwich restaurants, a fast-casual
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to Jersey Mike's 2025 Franchise Disclosure Document, A Sub Above, LLC, the franchisor, is a Delaware limited liability company. It was formed in connection with an initial 2019 securitization transaction.
Specifically, A Sub Above, LLC is a direct, wholly-owned subsidiary of Jersey Mike's Funding, LLC. Jersey Mike's Funding, LLC, is a direct, wholly-owned subsidiary of JM SPV Guarantor, LLC. JM SPV Guarantor, LLC, is a direct, wholly-owned subsidiary of Jersey Mike's Franchise Systems, LLC (referred to as the "Parent" or "Manager").
This structure indicates that Jersey Mike's operates under a complex organizational hierarchy involving multiple layers of subsidiary companies. This type of structure is often used for financial and legal reasons, such as managing risk, facilitating financing, or optimizing tax liabilities. For a prospective franchisee, the key takeaway is that while A Sub Above, LLC is the direct franchisor, it is ultimately controlled by Jersey Mike's Franchise Systems, LLC.