What was the weighted-average remaining lease term in years for Jersey Mikes locations in 2023?

According to Jersey Mike's 2025 Franchise Disclosure Document, the weighted-average remaining lease term for their locations in 2023 was 5.9 years. For a prospective franchisee, this figure represents the average length of time left on the leases for existing Jersey Mike's locations as of that year. This information can be helpful for understanding the typical lease commitment that franchisees might expect when securing a location.

Understanding the remaining lease term is crucial for financial planning. A shorter remaining lease term might indicate a need to renegotiate or relocate sooner, which could involve additional costs. Conversely, a longer remaining lease term provides more stability but also commits the franchisee to that location for an extended period.

It's important to note that this is a weighted average, meaning it takes into account the varying sizes or revenues of different locations. Individual franchisees may encounter lease terms that differ significantly from this average depending on their specific location and lease agreement. Therefore, prospective franchisees should carefully review the lease terms for their specific location and consider consulting with a real estate professional or attorney to fully understand their obligations and options.