Jimmy’s kind of a big deal! Earlier this month, Jimmy John's owner Jimmy John Liautaud was honored as "Dealmaker of the Year" by Franchise Times for landing the deal with Roark Capital. This prestigious award recognizes the boldest players driving growth in franchising.
The Jimmy John's deal was a 34 year overnight success story. 19 year old Jimmy opened his first Jimmy John’s Sandwiches sub shop in Charleston, IL in 1983. His Dad loaned him $25,000, and the menu consisted of 4 subs for $2.10 each and 25 cent Cokes. Jimmy bought out his Dad and repaid the loan in 1985, and has grown the company into nearly 2,700 stores across 43 states with sales of more than $2.5 billion. The Jimmy John’s brand employs nearly 150,000 Americans between both Jimmy’s and franchised locations and continues to grow every day!
What has made Jimmy John's such a success? According to Jimmy: "Success is about being effective in tough situations. You have to create a vision, organize a team, meet often, remove obstacles, then sit back and watch the business grow. It also means not being right all the time. Respect must be continually re-earned."
Read more about this exciting achievement on the Chicago Business Journal.