ZoomInfo’s Data Says Jersey Mike’s Franchise System Is Consolidating Fast Ahead of Its IPO

ZoomInfo (NASDAQ: GTM), the all-in-one AI GTM Platform, has confirmed a new analysis showing Jersey Mike’s franchise system consolidating into the hands of large, multi-unit operators ahead of the sandwich chain’s planned initial public offering.

ZoomInfo’s proprietary franchise dataset maps ownership across more than 600,000 United States franchise locations spanning 3,000-plus brands, resolving each one to its operating owner and the decision-makers inside it. Go-to-market teams use it to target, invest in, and serve the franchise economy, rather than treating multi-unit operators as anonymous accounts.

ZoomInfo built this analysis using their proprietary franchise dataset, combining its operator-resolved view of Jersey Mike’s locations with the chain’s Franchise Disclosure Documents and its S-1.

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Ownership is consolidating into larger operators

Jersey Mike’s roughly 630 franchise owners span a wide range: more than 330 run just one or two stores, while a small tier runs the bulk. The top 10 operators control about 16% of U.S. locations, the top 25 control about 25%, and the top 50 control about 36%. No single operator dominates, the largest runs about 90 stores, roughly 3% of the system, but the center of gravity is shifting toward professional multi-unit operators.

A wave of franchisee-to-franchisee M&A, with virtually no failures

Store transfers between franchise owners tripled to 218 in 2025, up from 77 in 2024 and 96 in 2023, the highest total in at least five years. Over that same five-year window, Jersey Mike’s recorded zero franchise terminations and zero non-renewals. This is consolidation by choice, operators buying each other, not stores failing.

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Growth is compounding inside the existing base

Jersey Mike’s reports a development pipeline of more than 1,600 stores, with over 90% committed by existing franchise owners. ZoomInfo identified 190 locations that Jersey Mike’s year-end 2025 filing listed as under construction, concentrated in Texas, California, and New York. Checking those addresses against live business listings, 59% had already opened by July 2026, a marker of how fast the footprint is turning over.

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