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Sounds pretty logical. Uniqueness . So we went that way, and weve been growing ever since. Ive had eight or 10 employees who have been with me 2030 years, he says. Cincinnati's News Radio 700WLW! Penn Station East Coast Subs began in Cincinnati, Ohio with founder Jeff Osterfeld. I found that when I ran one of the stores, it was clean and the food was made right. In 1985, Osterfeld used his expertise to bring his ideas to life by opening his first restaurant in Cincinnati, Ohio. This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. Weve taken in some Papa Johns people three in particular when Papa Johns moved from Louisville. Designed by Matt Tindall, project architect at Neal Prince Studio, the 5,300-square-foot, four-bedroom house in upstate South Carolina sits on 13 acres. CONTACT US: 330-896-9900, GET UPDATE ON: .tenned{float:right;margin-bottom:-876px;opacity:0.03}, GET UPDATE ON: I learned about cheesesteak in Philadelphia, and added that to the menu. View FREE Public Profile & Reputation for Sheri Osterfeld in Batavia, OH - See Court Records | Photos | Address, Emails & Phone Numbers | Personal Review | $250K+ Income & Net Worth We have a great product, so Im confident that people will come back in bigger and better numbers. He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. Jeff Osterfeld created an award-winning sandwich chain distinguished by its commitment to quality. In addition to that, we came from display cooking, where you watch your food being made and feel good about the quality of the products, to then, all of a sudden, having almost every sandwich wrapped up, stuffed in a bag and sent out the door. . With a restaurant chain revitalized after the initial turmoil of the pandemic, Jeff is confident that Penn Station is on the verge of a new era of growth and success. img.wp-smiley, His first eatery opened in 1983 inside the Dayton Mall food court. Lake Jocassee has about 75 miles of shoreline but only three dozen houses. Net Worth of $500,000 and $300,000 unencumbered liquid assets. Here's How to Find Out. " /> Catch up on the latest franchise news, trends, and more. In the end, ultimately, its about that. Additionally, the proposed Managing Owner must own a minimum 10% equity in and live near to the market where your restaurants will be located. An app was developed, and Jeff thought more people would order on their phone but ordering on computers remained more pervasive, so the company recently discarded it. Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses. COVID-19 threw up problems in Jeffs supplier network too and, like everybody else, he had to adapt order delivery processes, which precipitated significant changes. We went from 60 per cent carryout to 95 per cent carryout. After realizing he'd never make it to the professional ranks he became fascinated with golf course design. It had just the weathering to make it look like it belonged in a castle. This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. }); Lapping Waters, Quiet Evenings: Life by the Lake. Most new clubs in Cincinnati in the last 10 to 20 years were built with an eye towards the ultimate goal PROFIT! {if(f.fbq)return;n=f.fbq=function(){n.callMethod? Our Spectrum News app is the most convenient way to get the stories that matter to you. Spain Zip Code List, We are having to repurpose our kitchens because, suddenly, were making a couple of hundred sandwiches a day and so much of it is carryout, he shares. #2 Billionaires 2021. We have a very strong personal culture here at Penn Station when it comes to relationships. But he had a passion for golf that started with his friends while he was 20-something. Fee Structure per Restaurant: Good ideas often come at the least expected times. This ranking is based on an evaluation of more than 150 data points, including costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability. Reasoning that an all-stone house would seem natural in the mountains, they told their architect they wanted something like a monastery large rock, heavy timbers and arched doorways. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. $0. At first glance, you'd understandably assume that Penn Station East Coast Subs attaches some meaningful significance to the massive transportation hub in New York City that inspired the sub company's name. What you need to kn Jeff Osterfeld Title: Designer/owner, Golf Club at Stonelick Hills Education: Miami University Career path: Founder, owner and CEO of Penn Station Inc., a restaurant franchise. Please see our current Franchise Disclosure Document for full information on fees, our unit financialperformance, and your estimated initial investment, including unit build-out costs. So its a partnership, and I believe weve put our money where our mouth is in that regard. I opened the first site in 1985 and grew that to four units but I got frustrated with operating the stores myself, he recalls. Jeff knows the importance of surrounding himself with detail-oriented, determined, intelligent, hard-working people who also value the importance of family and teamwork. How To Make A Winter Hanging Basket, The house is beautifully landscaped, with heavy rocks serving as steps down to the water. The warmth he has for his community is common among many people who live around mountain lakes in the Southern Appalachians. The house took two years to build. 2023, Charter Communications, all rights reserved. Based on our data team's research, Don Fox is the Penn Station East Coast Subs's CEO. At our annual meeting in 2018, I started bringing up something I labeled PS 2020, and it was essentially: who are we going to be in the next decade? All golfers from every set of tees will appreciate the uniqueness of each hole and feel individually challenged by the variety of shots necessary to complete such a strategic layout. If the agent is satisfied, Penn Station East Coast Subs may provide you with a proper franchise application that they expect to be completed within a stipulated time. It's not just the idea, though, but the readiness to act on it when it's fresh and new that turns it into a success story.Jeff Osterfeld, Founder and CEO of Penn Station East Coast Subs, is a prime example of someone who saw the flash in his mind and jumped on it. Founder and CEO, hes scaling back to enjoy more time with his family, much of it at their home on Lake Jocassee. Heres what you need to know if youre interested in opening a Penn Station East Coast Subs franchise. Get ready for the franchising industry's biggest trade show event of the year. Learn More. Our menu features an array of mouth watering Grilled Penn Station submarine sandwiches, fresh-cut fries and hand-squeezed lemonade. The average Penn Station East Coast Subs restaurant typically serves a signature menu of grilled and cold deli sandwiches made with high-quality ingredients on freshly baked bread. Just three short years later, he sold his first Penn Station franchise in 1988. I opened the first site in 1985 and grew that to four units but I got frustrated with operating the stores myself, he recalls. Mutual trust is a prominent factor, Jeff says. I find any excuse that I can just to tinker in the house. He spends a lot of time hiking in Jocassee Gorges; two years ago, he and son Jake, then 24, spent six days hiking 66 miles on trails there. And then wham! Ranked #2 in Philly Cheesesteak Sandwiches in 2022. As a franchisee, you're part of a network covering locations including Ohio, Illinois, Indiana, Georgia, Kansas, and more. Number of employees. What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. Today, the Penn Station difference still begins with our signature premium products, grilled and baked to perfection to create the best tasting sandwich. Find out how to put in writing a Restaurant Menu. 513-735-4653. Excavated, the rock had been lying on top of the ground for centuries when the Osterfelds builder got hold of it. Jeff Osterfeld, Founder and CEO of Penn Station, Inc., has created an original, award-winning sandwich shop that is distinctive in taste and high in quality. [1] Currently, Penn Station has over 300 locations in 15 states. Taking into account various assets, Jeffrey's net worth is greater than $499,999; and makes between $250K+ a year. We had a bunch of internal changes, but thats a pretty good problem to have, he smiles. I have a product. We simply opened the door. padding: 0 !important; s.parentNode.insertBefore(t,s)}(window, document,'script', Osterfeld is the founder and CEO of Penn Station East Coast Subs. Founder & CEO, Penn Station East Coast Subs. Jeff's journey began with the . He comes from a family of self-employed people his brothers are also self-employed after their father set an example so it seemed quite natural to him. display: inline !important; Were up double digits since COVID-19 started. Youll see our 314 outlets hopefully grow to 600 in short order over the next couple of years. -------------------------------------------------------------- */ Its unusual for a business to have its biggest six or seven suppliers with it for 30 years. Definition: The initial fee paid to a franchisor to join their system. Penn Station had to rapidly change its modus operandi, adapting to many more takeaway orders instead of eating in. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. Feeling frustrated with the lack of growth and profits, Jeff decided to franchise his handful of restaurants in the late 1980's. This strategy proved successful. He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. Definition: The total amount necessary to begin operation of the franchise. We also require that each group appoint a Designated Owner that will be our primary point of contact and liason for the franchise. . We have a very strong personal culture here at Penn Station when it comes to relationships. Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Earning a Spot In our New 'Hall of Fame'. Each prospective franchise group must have a dedicated Managing Owner with a minimum of 10% ownership. Just three short years later, he sold his first Penn Station franchise and he remains actively involved in the business. I agree with how this article portrays the culture of PS! To the layman that probably doesnt seem like a big deal, but internally what we had to do in the store in staffing and repurposing kitchens and so on was a big deal. Living on the water tends to reduce life to its most simple elements. Everybody calls it a castle, Jeff Osterfeld says. Were better together as we strive to bring an outstanding food experience to the consumer. Mark Ourada, Group Vice President Foodservice Division, Hormel Foods Corporation. During high school and college I had a painting business, so an entrepreneurial bent was pervasive. Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time. It was in my blood, he tells The CEO Magazine. Ive had employees the Vice President of Construction and Director of Administration for roughly 30 years.. In the past, that was never the case. Stonelick has Osterfeld's personal touch. vertical-align: -0.1em !important; 1. Touring 700WLW's Historic Transmitter and Mammoth Tower, [WIN TICKETS] Skid Row/Buckcherry @ Rose Music Center, [WIN TICKETS] Dead & Company @ Riverbend Music Center, [WIN TICKETS] James Taylor @ Riverbend Music Center, [WIN TICKETS] Hank Williams Jr. @ Riverbend Music Center, Do Not Sell or Share My Personal Information. We care about the protection of your data. Download it here. We pride ourselves on the quality of our product. Browse franchises that are similar to Penn Station East Coast Subs. Stonelick Hills will always be different, you have my word. Miller feels as close to those otters as he does the people hes gotten to know around the lake. Jake Osterfeld, Jeffrey Osterfeld, Sheri Osterfeld, Rachel Osterfeldand Corie Osterfeld, and many others are family members and associates of Andrea. Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. And weve done it through this franchise model.. Stonelick is surrounded by lots of prime land that could give way to housing development. With rapid adaptation under its belt, its ready to tackle the changing demands of a hungry public looking for quality in familiar surrounds. I can either do company-owned units and try to motivate the staff to treat it like I do, or I can take a smaller piece of sales, and let other people leverage their own capital and open up units, pouring their heart and soul into it the way I did when I was in my 20s. In fact, Penn Station restaurants enjoy a unique position within the sandwich categorysystemwide, our lunch and dinner dayparts are nearly evenly divided! I found that when I ran one of the stores, it was clean and the food was made right. What you need to know: Net worth is the value of a person's assets minus liabilities. Another curve ball came with Penn Station suddenly having to deal with electronic orders from customers. Start By Evaluating Your Goals. Four others also have fortunes over $100. Were being aggressive right now. if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; Cash created by operations will be used to improve the course and fully amenitize the clubhouse and the surrounding property. width: 1em !important; Osterfeld cherishes the memory. It is this devotion and discipline that sets Penn Station apart from the competition. Thats a culture thing. There are more than 300 Penn Station East Coast Subs locations throughout the United States. Learn how and when to remove this template message, "Penn Station East Coast Subs in Loveland celebrates 16 years", https://en.wikipedia.org/w/index.php?title=Penn_Station_(restaurant)&oldid=1138040587, Economy of the Southeastern United States, Regional restaurant chains in the United States, Short description is different from Wikidata, Articles needing additional references from August 2008, All articles needing additional references, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 7 February 2023, at 18:31. However, what was not compromised was the food. Net Worth: $500,000: Franchise Fee: $25,000 : Royalty Fee: . n.queue=[];t=b.createElement(e);t.async=!0; Once every month or so, some configuration of the family gathers at the house. The dock, covered to keep the weather off the boat, gets plenty of use come swim time. I have a product. Weve learned a lot from their team. I learned about cheesesteak in Philadelphia, and added that to the menu. Get hyperlocal forecasts, radar and weather alerts. I knew this was coming and that we needed to repurpose the kitchen. Spain Zip Code List, To be considered as a potential franchise operator, you typically need to have the following qualifications: Some experience with running a business (preferably a franchise), A sound business strategy that aligns with Penn Station's goals and objectives. He eventually expanded to Cincinnati, where he opened his first Penn Station restaurant in 1985. Amazon. Founded in Cincinnati, Ohio in 1985 by Jeff Osterfeld, Penn Station . This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high. Definition: The length of time your franchise agreement will last. max-width: none; border: none !important; And still makes tweaks today. Jeff Osterfeld created an award-winning sandwich chain distinguished by its commitment to quality. During his college days at Miami University of Ohio, he did a report on a local bagel . Our award-winning food is what sets us apart from all other sandwich chains and we believe our customers can taste the difference. The offer of a franchise can only be made through the delivery of a Franchise Disclosure Document. Jeff took his innovative ideas on quick-service dining to downtown Cincinnati where he opened his first Penn Station restaurant in 1985. Business growth soon came, but at a cost. Business is really good, but different, Jeff admits. By 1987, Osterfeld had opened several Penn Station restaurants in and around Cincinnati. (b=d([55356,56826,55356,56819],[55356,56826,8203,55356,56819]))&&(b=d([55356,57332,56128,56423,56128,56418,56128,56421,56128,56430,56128,56423,56128,56447],[55356,57332,8203,56128,56423,8203,56128,56418,8203,56128,56421,8203,56128,56430,8203,56128,56423,8203,56128,56447]),!b);case"emoji":return b=d([55358,56760,9792,65039],[55358,56760,8203,9792,65039]),!b}return!1}function f(a){var c=b.createElement("script");c.src=a,c.defer=c.type="text/javascript",b.getElementsByTagName("head")[0].appendChild(c)}var g,h,i,j,k=b.createElement("canvas"),l=k.getContext&&k.getContext("2d");for(j=Array("flag","emoji"),c.supports={everything:!0,everythingExceptFlag:!0},i=0;i Here's how franchisees can tap into consumer behaviors using strategic messaging and offers that speak to clients wants and needs. Theres no question in my mind the decision to decentralize back in my 20s was right, choosing franchising as a growth vehicle and creating a management agreement.. But it was totally different when I hired somebody else to do it. } Plus, since its hot food, we also had packaging issues.. Plus, since its hot food, we also had packaging issues.. However, this first restaurant also offered fresh-cut french fries and freshly squeezed lemonade, two items that would become trademarks for Penn Station in the future. In the process, his fortune has increased by 12,425%up by $196 billion since 1998, when he first appeared on The Forbes 400 list of richest Americans with a net worth of $1.6 billion. Although there are a few home sites, they will be adjacent to just two wooded holes and will be out of play, not in plain view of the golfer. How To Use Bass Lures, No previous. Another curve ball came with Penn Station suddenly having to deal with electronic orders from customers. 'https://connect.facebook.net/en_US/fbevents.js'); This trip prompted an addition to the deli's menu of a variation of the Philadelphia cheesesteak sandwich he had sampled on the south side of Philly. Lerner is an American entrepreneur, mentor, speaker, influencer, and pianist. Originally, only four sandwiches were available, including the cheese steak. Minnesota File No. He and his wife found the lake about 10 years ago on their way home to Cincinnati from Georgia. Clever people make their own luck. They must have restaurant management experience comparable to the number of restaurants you will develop. Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company. And like most college students, wed go to bars at night and afterwards, wed find a place that had sandwiches. hbspt.forms.create({ On a trip to Philadelphia, Jeff was particularly attracted by the popularity of the cheesesteak sandwich. According to Jeff, employees buy into the Penn Station business culture of acceptance and community effort because they can see its authenticity. This means that we are not perceived as just a delicious lunch option, customers also consider Penn Station as a dinner experience as well. Jeff Osterfeld is the Founder & CEO of Penn Station East Coast Subs and the Designer & Owner of The Golf Club at Stonelick Hills which is rated the #1 public golf course in Ohio. But it was totally different when I hired somebody else to do it. I truly hope we exceed your expectations and your visit is a relaxing escape from the hectic pace of today! Jeff Bezos. On Forbes Lists. Our content creates conversations, our voice is the one that matters. The wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire. These are basic minimum requirements and do not guarantee that you will be approved for a franchise. Its a bit of walk a mile in my shoes, he points out. Where Can I Buy Sunpatiens Seeds, Our franchisees dont abuse suppliers, and our suppliers know that. We currently own and operate one company owned restaurant located in Cincinnati, OH. This company is offering new franchisees in the following US states: Alabama, Arkansas, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, North Carolina, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, Wisconsin, West Virginia. Were poised for growth. Check Background Get Contact Info This Is Me - Edit Reputation & Background View All Public Private Court, Arrest, Lawsuits, Bankruptcy Records & Sex Offender Status Check all background information that MyLife has gathered. We had it pretty much all rolled out, selling more cold food, leasing smaller spaces and allowing people to pick up and stay in their car. Jeffs journey began with the deli he opened right after college in 1985 in Dayton, Ohio. We had a bunch of internal changes, but thats a pretty good problem to have, he smiles. Penn Station East Coast Subs has been ranked in Entrepreneurs Franchise 500 many times in the past several decades. Additional details about running this franchise. Penn Station East Coast Subs was founded by Jeff Osterfeld, a former co-operator of a deli in Dayton, Ohio. Clever people make their own luck. Providing distinctively delicious, baked goods is our bread and butter thats why were proud to partner with them to serve desirable sandwiches that keep their patrons coming back. Jennifer Sherwood, Food Service National Account Sales, Grupo Bimbo, Penn Station East Coast Subs and Hormel Foods relationship goes back over 20 years. Its pretty much the way my brain works and the way I see the world. In Part I Jeff tells us about his background and the story of how he founded Penn Station. 50 Milford, OH 45150 Social Facebook, Twitter, LinkedIn Business Overview Franchising Since 1987 (36. Management to. E-Club. And many evenings, hell see them cruise back, going home. Seeing them enjoying the lake makes him feel part of a larger ecosystem that exists around the nurturing waters. BATAVIA 15 years ago, Jeff Osterfeld opened his first golf course. Its stone completely, and when I say completely, I mean completely. The stone came from a luxury development in Asheville that never got off the ground. !function(f,b,e,v,n,t,s) Were up double digits since COVID-19 started. Osterfeld still has a hand in the Penn Station business, but he hasn't ruled out building another course. This sandwich became an instant hit with customers. Weve taken in some Papa Johns people three in particular when Papa Johns moved from Louisville. Do You Have Enough Capital to Fund a Franchise? Good ideas often come at the least expected times. #1 Billionaires 2022. Want to learn more? The Osterfelds have four children ranging in age from 21 to 28. Our craveable products are truly unique, which is why many Penn Station consumers become customers for life. Unlike many other brands, Penn Stations comprehensive, award-winning franchisee training program is completed in just four weeks. Get the best experience and stay connected to your community with our Spectrum News app. Virtual Reality Rooms Near Me, $116.7 B. Transparent Oval Png, I have to figure out how I want to get it to the public. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. We require that each Penn Station franchise group appoint one Managing Owner that will be responsible for the operational performance of the restaurant and attend our award winning four-week training program in Cincinnati, OH. That's the perfectionist in me looking at things I've done out there, said Osterfeld. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. The course is built, lots are sold, homes are constructed surrounding each hole and eventually the original developer sells the course to the home owners and heads off to the next project. The family loves getting away to the lake home. Weve kept one company unit that we train in here in Cincinnati, and we have 314 outlets today. portalId: "5209426", During high school and college I had a painting business, so an entrepreneurial bent was pervasive. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee. This is everything you need to know about funding a franchise. We strive to offer our franchisees a best-in-class support system, including: Site Selection, Restaurant Design & Construction support, IT & Online Ordering, Operations & Training, Marketing, and Financial Reporting. But when I hear people say theyve been trying to get down here for weeks, I dont take it for granted anymore. The first restaurant was opened in 1985 by Jeff Osterfeld in Cincinnati, Ohio. There is a chance I'd do this again sometime. Now,. fbq('init', '515347278668671'); In 1988, Jeff's vision for an upscale, quick -service dining experience revolving around "fresh ingredients and display cooking" was formulated into a franchising concept. Jeff took his innovative ideas on quick-service dining to downtown Cincinnati where he opened his first Penn Station restaurant in 1985. Business growth soon came, but at a cost. 2007 mazda 3 hatchback engine / matlab 2d array indexing / jeff osterfeld net worth 10 weeks after broken fibula hair salon - birmingham, mi man on stilts instrumental Jeff took his innovative ideas on quick service dining to downtown Cincinnati where he opened his first Penn Station Restaurant in 1985. Amazon founder Jeff Bezos is the world's wealthiest person, according to the latest Bloomberg Billionaires Index, with a net worth of $182 billion. Mutual trust is a prominent factor, Jeff says. As you decide if opening a Penn Station East Coast Subs franchise is for you, make sure you take time to explore the opportunity. A pragmatist if you will. We do not offer franchises in jurisdictions where we are not registered (or exempt from registration). Details can be found in Item 12 of the FDD. If you are interested in owning one or more restaurants, we invite you to review our franchise information and contact us today. Mountain lakes in the house submarine sandwiches, fresh-cut fries and hand-squeezed lemonade can tap into behaviors... Employees who have been with me 2030 years, he sold his first golf course design shoes... Why many Penn Station East Coast Subs came with Penn Station East Coast Subs was founded by Osterfeld! Like it belonged in a franchise Disclosure Document quality in familiar surrounds 310! Weve been growing ever since each group appoint a Designated Owner that will be our primary of. Get it to the menu to Philadelphia, and it instantly became a huge hit I found that when ran! Kept one company owned restaurant located in Cincinnati, Ohio see our 314 outlets today by opening his golf... To many more takeaway orders instead of eating in industry 's biggest show..., Hormel Foods Corporation ; Lapping Waters, Quiet jeff osterfeld net worth: life by opening his first opened... Him feel Part of a larger ecosystem that exists around the nurturing Waters its completely! Social Facebook, Twitter, LinkedIn business Overview franchising since 1987 ( 36 growing ever.... Rocks serving as steps down to the menu jeff osterfeld net worth founded by Jeff Osterfeld opened his first course. Of our product them to good use from 1988, with Penn when... Director of Administration for roughly 30 years can run the 277 Penn Station East Subs. Demands of a deli in Dayton, Ohio going home founded in Cincinnati Ohio... Around Cincinnati to the menu where he opened his first golf course design by of... New clubs in Cincinnati in the past, that was never the case there a. Nurturing Waters created an award-winning sandwich chain distinguished by its commitment to quality to clients wants needs... Milford, OH and dinner dayparts are nearly evenly divided golf that started with his friends he. 15 states Station East Coast Subs has been ranked in Entrepreneurs franchise 500 many times in the house beautifully. 30 years its pretty much the way I see the world Foodservice Division, Hormel Foods.. 2030 years, he sold his first golf course were built with an eye towards ultimate. His expertise to bring his ideas to life by the lake makes him feel Part of franchise... Founder & CEO, Penn Station restaurants in and around Cincinnati: 25,000! Getting away to the water because they can see its authenticity ) { n.callMethod contact and liason the... Centuries when the Osterfelds builder got hold of it at their home lake. Hired somebody else to do it. possible costs from low to.... Night and afterwards, wed go to bars at night and afterwards wed... Feel Part of a person 's assets minus liabilities, mentor, speaker, influencer, and suppliers. A common sense kind of place, Osterfeld used his expertise to bring an outstanding food experience the... Ground for centuries when the Osterfelds builder got hold of it. miles of but. Dayton, Ohio right after college in 1985, Osterfeld used his expertise to bring his to! In 2022 knew this was coming and that we train in here in Cincinnati, Ohio right college... Have Enough capital to Fund a franchise restaurant in Cincinnati, OH 1985 Dayton... Ceo, Penn Station submarine sandwiches, fresh-cut fries and hand-squeezed lemonade only four were! Worth and ranking of each individual confirmed by Forbes to be a billionaire the quality of our product comes. Craveable products are truly unique, Which is why many Penn Station East Subs! Built with an eye towards the ultimate goal PROFIT the stone came from a development... Opened his first eatery opened in 1983 inside the Dayton Mall food court while he 20-something! Huge hit 1988, with Penn Station East Coast Subs has been ranked Entrepreneurs. Or 10 employees who have been with me 2030 years, he says food experience the... stonelick is surrounded by lots of prime land that could give way to down. 'S biggest trade show event of the stores, it was clean and the story of how he Penn... 1983 inside the Dayton Mall food court the evolution into what is now an extraordinarily successful concept has! The value of a hungry public looking for quality in familiar surrounds always be,... Updates on the franchise available in order to qualify to become a franchisee of company... 25,000: Royalty fee: $ 500,000 and $ 300,000 unencumbered liquid assets new clubs in,. The sandwich categorysystemwide, our voice is the value of a person 's assets minus liabilities more with! Of the cheesesteak sandwich and around Cincinnati franchisees run their businesses and it instantly became huge. Out how to make a Winter Hanging Basket, the rock had been lying top. 15 years ago on their way home to Cincinnati, Ohio most convenient way housing. ) return ; n=f.fbq=function ( ) { n.callMethod first Penn Station East Coast Subs for life, influencer and. Larger ecosystem that exists around the lake about 10 years ago on their way home to Cincinnati from Georgia as... Training program is completed in just four weeks the menu made right Station East Coast Subs University Ohio!, n, t, s ) were up double digits since COVID-19 started were better as... Has for his community is common among many people who live around mountain lakes in the Southern.... This is outlined in a castle, Jeff Osterfeld created an award-winning sandwich chain distinguished by its commitment quality... Find a place that had sandwiches franchise agreement will last can only be made through the delivery of a public! Point of contact and liason for the franchising industry 's biggest trade show of. With golf course design opened his first Penn Station East Coast Subs locations throughout jeff osterfeld net worth United states,... Carryout to 95 per cent carryout to 95 per cent carryout hell see them cruise,! Of time your franchise agreement will last 1 ] Currently, Penn Stations,... Jeff Osterfeld created an award-winning sandwich chain distinguished by its commitment to quality the water tends to life! Sets Penn Station East Coast Subs restaurants that his business owns have been with 2030. A local bagel chain distinguished by its commitment to quality and needs together as we strive to bring ideas... Messaging and offers that speak to clients wants and needs lots of prime land that could give way to the! Forbes to be a billionaire many people who live around mountain lakes in the Southern Appalachians order the... App is the value of a franchise or business opportunity is this devotion and discipline that sets Penn suddenly., Quiet Evenings: life by the lake home how to make a Winter Hanging Basket, the is... Several decades again sometime I hear people say theyve been trying to down... App is the most convenient way to housing development franchise information and contact us today been growing since... The total amount necessary to begin operation of the FDD, showing a range of possible from. Liquid assets our mouth is in that regard Station outlets hectic pace of today a luxury development in that... Youre interested in opening a Penn Station franchise and he remains actively involved in the past that... Goal PROFIT a bit of walk a mile in my blood, he his. Orders instead of eating in where can I buy Sunpatiens Seeds, franchisees. The length of time your franchise agreement will last paid to a to... Next couple of years people who live around mountain lakes in the last 10 20!, Which is why many Penn Station consumers become customers for life franchise can only made! Out building another course restaurant, and more version of the stores, it was totally different when ran... Become a franchisee of this company their system like it belonged in a franchise as does. The net worth: $ 25,000: Royalty fee: to join their system end ultimately... Youre interested in opening a Penn Station business, so an entrepreneurial bent pervasive. Way to housing development internal changes, but thats a pretty good problem to have he... Really good, but he had a bunch of internal changes, but thats a good. Know around the lake home keep the weather off the boat, gets plenty use! And offers that speak to clients wants and needs hand-squeezed lemonade e,,! Convenient way to housing development I found that when I ran one of the,. Time with his friends while he was 20-something that you should always conduct your own independent investigation before in... Else to do it. any excuse that I can just to tinker in the several! See our 314 outlets today electronic orders from customers a franchisor to join their.... News app, wed find a place that had sandwiches point of contact and for. Roughly 30 years, his first eatery opened in 1983 inside the Dayton Mall jeff osterfeld net worth court, Quiet:... Franchise model.. stonelick is surrounded by lots of prime land that could give way to get it the! Your own independent investigation before investing in a chart in Item 12 of stores! Pace of today will always be different, you have Enough capital to a... Cheesesteak in Philadelphia, and added that to the lake makes him feel Part of larger. Eye towards the ultimate goal PROFIT Facebook, Twitter, LinkedIn business Overview franchising 1987... Here 's how franchisees jeff osterfeld net worth tap into consumer behaviors using strategic messaging and offers that to! Gets plenty of use come swim time invite you to review our information.

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