What were the total revenues for Jersey Mikes in 2023?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| NET INCOME | $ 5,039,581 | $ 21,256,637 | $ 19,526,715 |
| OTHER COMPREHENSIVE LOSS | (25,662) | - | - |
| TOTAL COMPREHENSIVE INCOME | $ 5,013,919 | $ 21,256,637 | $ 19,526,715 |
| COMPREHENSIVE INCOME ATTRIBUTABLE TO: Jersey Mike's Franchise Systems, Inc. Noncontrolling partner | $ 5,013,919 - | $ 21,256,637 - | $ 19,519,134 7,581 |
Advertising—Advertising costs are expensed as incurred and are approximately $254,600,000, $235,637,000, and $204,283,000 for the years ended December 31, 2024, 2023, and 2022, respectively.
Total royalty revenues earned from related parties were less than 2% of total revenues for the years ended December 31, 2024 and 2023.
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, while specific total revenue figures for Jersey Mike's are not explicitly stated, the document does provide some related financial data. For instance, the net income for 2023 was reported as $21,256,637. Additionally, advertising costs for the year ended December 31, 2023, amounted to $235,637,000. Royalty revenues earned from related parties were less than 2% of total revenues for the year. These figures offer insight into specific aspects of the company's financial performance.
However, the FDD does not disclose the overall revenue for Jersey Mike's in 2023. Instead, it presents figures such as net income, advertising expenses, and royalty revenues from related parties. Understanding the total revenue would provide a clearer picture of the company's scale and financial health, offering prospective franchisees a better understanding of the potential market and financial dynamics they would be entering.
Therefore, a prospective franchisee should directly inquire with Jersey Mike's franchisor about the total revenues for 2023. This information, combined with the net income and expense data provided in the FDD, would enable a more comprehensive financial assessment. Additionally, it would be beneficial to ask about the factors contributing to the net income and how the advertising expenses correlate with revenue generation.