Franchise Overview: Firehouse Subs
Firehouse Subs is among the top fast casual sandwich franchises. The menu offers a variety of cold and hot sandwiches, salads, and catering services. The company was founded in 1994 in Florida by two former firefighters and brothers Robin and Chris Sorensen. Firehouse Subs has opened more than 1,130 locations across the country, along with international locations.
- Initial Single Unit Fee: $20,000
- Credit Score of 650+
- Initial Investment: $92,255-$824,846
- Net Worth Requirement: $300,000
- Ongoing Royalty Fee: 6%
- Ad Royalty Fee: 3%
- Financing: Firehouse Subs does work with third parties to offer financing to help cover the franchise fee, inventory, and equipment.
Founding Success Stories
Brothers Chris and Robin Sorensen were second generation firefighters in Jacksonville, FL. Struggling to tack more money onto their salaries, the two brothers dabbled in various business ventures, according to an interview with Fortune. The Sorensen brothers briefly considered opening a microbrewery but when a friend suggested a sub shop, they decided to go that route.
After several years of research across different sandwich shops, they finally landed on a business plan for their own restaurant. The two prioritized affordable, hearty portion sizes and meals. However, while they had an idea of their ideal food situation, the finances were harder to come by and had to borrow from friends and family.
Nevertheless, the restaurant made good profits in just the first month. They continued to run a lean operation until the restaurant became profitable. Eventually, as their popularity grew, Firehouse Subs began to franchise.