The perennial chain has faced rumors of company-wide closure, and yet by all indicators is a healthy company that had even managed to thrive throughout the pandemic.
This article is based on corporate postings and accredited media reports. All linked information within this article is fully-attributed to the following outlets: Wikipedia.org, ScrapeHero.com, Mashed.com, Nation’s Restaurant News, Google.com, and Co-Worker.org.
This article represents the latest in a series that attempts to elucidate the truth behind internet rumors of restaurant closures.
Wikipedia features a comprehensive overview of the Jersey Mike’s chain that states, in part: At age 14, Peter Cancro of Point Pleasant Beach, New Jersey, took a part-time job at Mike's Submarines, a neighborhood sandwich shop in the adjacent borough of Point Pleasant but only a few blocks west of Point Pleasant Beach High School, founded in 1956, and then on its third owner… When the shop went up for sale again in 1975, Cancro's mother suggested he buy it. With help from a high school football coach who was also a banker, Cancro, then 17 and a high school senior, pulled together $125,000 in three days. Today, Cancro is the owner and CEO of the company.
Cancro began franchising the restaurant in 1987.
Today, per ScrapeHero.com: There are 2,228 Jersey Mike's locations in the United States as of June 14, 2022. The state with the most number of Jersey Mike's locations in the US is California, with 326 locations, which is 14% of all Jersey Mike's locations in America.
The chain is by all accounts thriving, and yet a targeted Google search once again — as appears to be endemic with many successful chains — reveals online rumors of the company’s closure.
In this event, the rumors seem to have started during the height of the pandemic, to a degree inspired by a campaign, allegedly from an employee, to close shop indefinitely.
See here for Co-Worker.org’s “Jersey Mike's Subs is NOT an Essential Business.” From the campaign, in an appeal to CEO Cancro: Currently, due to the unfortunate circumstances and the Covid-19 pandemic, I suggest that all Jersey Mike's Sub store be closed indefinitely, until at least all quarantine and lockdown laws have been lifted. Due to the increased risk of exposure and the exponential growth of confirmed COVID-19 cases, I am befuddled by our business's decision to perform high-value marketing (Free Delivery, 50% Deals, etc.), when we are not even able to supply enough employee's without breaking social-distancing laws.
Social media rumors showed up soon thereafter— apparently confusing the nuance of an appeal with a final decision — as to the sandwich favorite closing its doors due to the pandemic.
Let us explore further.
Jersey Mikes, 2022
According to a January, 2022 article from Mashed.com, entitled “Chain Restaurants You’re About to See Everywhere in 2022,” plans for the Jersey Mike’s chain include expansion: Jersey Mike's now has more than 2,000 restaurants around the country (in 49 states to be exact), and it's not stopping there. Driven by massive digital investment and a solid company culture (via QSR magazine), the chain said recently it plans to open roughly 1,000 new locations over the next few years, including more than 300 in 2022 alone (per Nation's Restaurant News).
Indeed, the referenced Nation’s Restaurant News industry trade report, dated April, 2021 and titled “Jersey Mike’s CEO Peter Cancro Talks Rapid Digital Growth, Expansion Plans,” stated the following: While most restaurants are scrambling to add drive-thru and pickup lanes and shrink their footprint, Manasquan, N.J.-based sandwich chain Jersey Mike’s is confident in their longstanding format: 1,000-1,400-square-foot stores doing mostly pickup and takeout. But what has changed over the past year during the pandemic is Jersey Mike’s digital growth, which has grown 180% from last April to this March.
Business in that aspect is healthy, but what of other indicators? The report goes on to state: Jersey Mike’s has also seen double digital annual growth over the last year, with stores opening mostly from within (store managers becoming franchisees). The chain is currently at more than 2,000 stores nationally with plans to have their 3,000th store open by 2024 or 2025.
It should be noted there is nothing in these statistics to indicate or imply a negative business trend.
Rumors of Jersey Mike’s closing is false. This is a financially healthy company.
Thank you for reading.