Penn Station East Coast Subs signs several new development agreements
Through: Penn Station East Coast Submarines | 1 actions 36 readings
Agreements add 50 new restaurants to open over next 60 months
November 02, 2021 // Franchising.com // MILFORD, OHIO – Penn Station East Coast Submarines signed several new agreements with existing franchisees for a total of 50 new restaurants.
The new agreements include units in Knoxville and Nashville, Tennessee; Canton, Cleveland, Columbus and Dayton, Ohio; northern Kentucky; Charlotte and Winston-Salem, North Carolina; and St. Louis, Missouri. The franchisees are expected to open the new restaurants within the next 60 months or so.
“Executing new development agreements with so many existing franchisees is a real testament to the confidence our franchisees have in the Penn Station franchise system and where we are going,” said Craig Dunaway, president of Penn Station. “Penn Station is out. pandemic in growth mode. Our new development team has spent the last few months evaluating our growth strategy and adding experienced leadership and technology resources to accelerate growth. This is already materializing with new development agreements, and we are also working with new existing and potential franchisees to add even more growth.
“We have development territory available in many major metropolitan areas for existing and potential new franchisees,” said Dunaway. “We believe that many potential franchisees from other brands are very interested in expanding their portfolio now and our premium sandwich brand complements many categories, including the concepts of Chicken, Breakfast / Brunch, Mexican and Pizza. . We are very excited to see what the next five years hold in store for us, and the desire for growth of our existing franchisees speaks positively for Penn Station and our franchise community in general.
Penn Station also announced its Target Growth Areas Development Incentive Program. The program offers 0% royalty for six months and 50% off the initial franchise fee to current and new franchisees who sign a new development agreement to open one or more new restaurants in eligible target growth areas.
“This incentive program offers franchisees the opportunity to introduce our concept to new markets at a reduced rate,” said Dunaway. “Penn Station has always grown in concentric circles from our original base in Cincinnati, and these target growth areas have been carefully chosen to align with our long-term goals. We believe there are excellent markets in these states that will provide great opportunities for multi-unit growth with a concept offering operational simplicity, premium products and an award-winning training program.
The target growth areas development incentive program includes the following areas:
Atlanta, Georgia; Chattanooga and Memphis, Tennessee; Chicago, Illinois; Charlotte, Raleigh and Winston-Salem, North Carolina; Richmond, Virginia; Pittsburgh, Pennsylvania; Omaha, Nebraska; Kansas City, Kansas, and more.
About Penn Station East Coast Subs
Founded in Cincinnati, Ohio in 1985 by Jeff Osterfeld, Penn Station serves an assortment of freshly grilled and cold sandwiches, wraps and salads made to order with high quality ingredients. The menu also includes freshly cut fries, all-day hand-squeezed lemonade, and freshly baked chocolate chip cookies at the restaurant.
After graduating from the University of Miami, Osterfeld opened “Jeffrey’s Delicatessen” in 1983 in a shopping center in Dayton, Ohio. On a trip to Philadelphia to research the East Coast version of the sub sandwich, Osterfeld realized the popularity of that city’s famous cheesesteak sandwiches and began selling a similar version at his restaurant which is quickly became a customer favorite. He opened the first Penn Station in Cincinnati in 1985 with four sandwiches on the menu, all made to order directly in front of the customer, along with fresh cut fries and hand-squeezed lemonade.
Penn Station has over 310 locations in 14 states including Ohio, Georgia, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, North Carolina, Pennsylvania, North Carolina South, Tennessee, Virginia and West Virginia.
Penn Station has consistently been included in Training Magazine’s Top 100, Entrepreneur Franchise 500, Franchise Times Franchise 200+, Nation’s Restaurant News Top 200, and Restaurant Business / Technomic Top 500 Chain. Penn Station was also named Top 100 Mover & Shaker by Fast Casual; one of the 30 Best Food Franchises, Most Profitable Franchise and Best Multi-Unit Franchise by Franchise Business Review; and one of Nation’s Restaurant News’ most loved brands by consumers in 2021.
For more information visit www.pennfranchise.com.
SOURCE Penn Station East Coast Submarines