As it relates to Jersey Mikes, where was information about JMFS's conversion previously provided?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
On December 30, 2024, JMFS, which had previously been a New Jersey corporation, converted into a Delaware limited liability company. JMFS was the former franchisor of the JERSEY MIKE'S franchise system before the closing of the 2019 Securitization Transaction (as defined below). From February 1987 to December 2019, JMFS offered franchises for the JERSEY MIKE'S Franchised Restaurants. JMFS has never offered franchises in any other line of business.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 76–77)
What This Means (2025 FDD)
According to Jersey Mike's 2025 Franchise Disclosure Document, information regarding Jersey Mike's Franchise Systems, LLC (JMFS) conversion from a New Jersey corporation to a Delaware limited liability company is provided in Item 1. Specifically, it notes that on December 30, 2024, JMFS converted into a Delaware limited liability company. Before this conversion, JMFS was the former franchisor of Jersey Mike's franchise system until the closing of the 2019 Securitization Transaction. From February 1987 to December 2019, JMFS offered franchises for Jersey Mike's Franchised Restaurants and has never offered franchises in any other line of business.
This information is relevant for prospective franchisees as it provides context on the history and structure of the Jersey Mike's franchise system. Understanding the roles and changes within the parent and affiliated companies, such as JMFS, can offer insights into the stability and strategic direction of the franchise. The conversion of JMFS to a Delaware LLC may have implications for legal and financial structuring, which could indirectly affect franchisees.
Item 1 of the FDD serves to inform potential franchisees about the background, affiliations, and key transactions involving the franchisor and its related entities. This transparency helps franchisees assess the experience and potential risks associated with investing in a Jersey Mike's franchise. Knowing that JMFS was the original franchisor and its subsequent conversion and role in securitization transactions provides a clearer picture of the franchise's evolution and management structure.