What was the reported value of Jersey Mikes' aircraft in 2023?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Land | $ 328,333 | $ 328,333 |
| Buildings | 4,031,351 | 4,031,351 |
| Office furniture and fixtures | 5,171,310 | 4,051,398 |
| Leasehold improvements | 7,625,601 | 5,598,603 |
| Machinery and equipment | 2,642,259 | 2,242,259 |
| Vehicles | 141,354 | 69,302 |
| Aircraft | 41,744,200 | 4 1,744,200 |
| Construction in progress | 44,266 | 44,266 |
| Construction in progress—aircraft | 41,000,000 | - |
| Property and equipment | 1 02,728,674 | 5 8,109,712 |
| Less accumulated depreciation | 12,995,155 | 1 0,635,405 |
| Property and equipment—net | $ 8 9,733,519 | $ 47,474,307 |
Source: Item 23 — RECEIPTS (FDD pages 77–421)
What This Means (2025 FDD)
According to Jersey Mike's 2025 Franchise Disclosure Document, the reported value of their aircraft in 2023 was $41,744,200. This figure is listed under the 'Property and equipment' section of the receipts. It's important to note that there is also a separate line item for 'Construction in progress—aircraft,' which had a value of zero in 2023.
This substantial investment in aircraft may indicate that Jersey Mike's uses air travel for business operations, potentially for executive travel, supply chain logistics, or franchise support. The large value suggests this is a significant asset for the company.
A prospective franchisee should consider this information in the context of Jersey Mike's overall financial health and business strategy. Understanding how the aircraft is used and its contribution to the company's operations could be a relevant question to ask the franchisor during the due diligence process. It's also worth noting that the 'Property and equipment—net' value in 2023 was $47,474,307, meaning the aircraft accounts for a large portion of the company's net property and equipment value.