What are the two fees that Jersey Mike's charges for a transfer?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
ranchisor's judgment, to develop JERSEY MIKE's restaurants, and to fulfill its obligations to Franchisor;
- (h) If the transferee and/or its Principals are an existing Jersey Mike's franchisee, the transferee and the transferee's Principals must be app
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to Jersey Mike's 2025 Franchise Disclosure Document, there are two fees associated with transferring a Development Agreement or Franchise Agreement. Jersey Mike's charges a $5,000 transfer fee for services related to approving the transfer of the Development Agreement. Additionally, there is a $5,000 transfer fee for each individual Franchise Agreement that is transferred to the new transferee.
These fees are charged by Jersey Mike's to cover the costs associated with reviewing and approving the transfer of ownership. This process includes assessing the transferee's qualifications, ensuring they meet the brand's standards, and updating the necessary legal and operational documentation. The fees are payable directly to Jersey Mike's.
For a prospective franchisee, it's important to factor these transfer fees into any negotiations for buying an existing Jersey Mike's location or development rights. These fees are in addition to any purchase price agreed upon with the seller. Understanding these costs upfront can help in accurately assessing the financial viability of acquiring an existing franchise versus starting a new one.