Inquire About Penn Station
Sub Sandwich Franchise Opportunities

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OUR PHILOSOPHY

We pride ourselves in developing the best concept for our consumers and our franchisees. Unlike other concepts we run ONE company unit. Our focus is solely on you and growing your business.

Our food is unmatched and cravable and we don’t tamper with what works. This keeps operations simple.

We cultivate an owner mentality in all aspects of our operation – this is how we consistently produce unparalleled Return on Investment.

OUR SUPPORT

Because we operate only one company unit, our focus is on providing you unparalleled support – not growing company stores or developing products for grocery. Our success is predicated by your success. Thus, our infrastructure is designed and structured to assist you with executing the concept with excellence.

Our comprehensive support covers all aspects of your business, including: Site Selection, Design & Construction support, IT, Operations and Training, Marketing and Financial Reporting.

THE TASTE AUTHORITY

It was no surprise we were selected as the #1 Sandwich concept nationally by consumers. Our Taste is truly unique, which is why Penn Station consumers become customers for life.

Our menu features: grilled and baked signature subs served piping hot, fresh-cut fries which command premium prices and fresh-squeezed lemonade made from Sunkist lemons.

The Penn Station difference starts with premium products, grilled and baked to create the best tasting sandwich.

WHY PENN STATION

Multi-unit opportunities & 300+ units

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Food that is Unique

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OPERATIONAL SIMPLICITY & UNIT-LEVEL ECONOMICS

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OUR PROCESS

AVAILABLE MARKETS

Penn Station Development Plan

Map Legend

TERRITORIES AVAILABLE
LIMITED TERRITORIES AVAILABLE
FUTURE MARKETS

CRITERIA

Market Criteria

50,000 Population
$40,000 Median Income
Strong residential and daytime populations
QSR Co-tenancy

Market Criteria

1,500 – 1,700 square feet
End Cap preferred
High visibility
Strong Ingress/Egress
1st generation preferred
30+ Parking Spaces

Shell Criteria

20’ x 80’ or 24’/75’
12’ floor to truss
Front and Rear access
15 ton HVAC
200 AMP, 3 phase, 4 wire, 120/208 volt service
1,000,000 BTU

Deal Terms

5 year lease with three 5 year options
No percentage rent

Real estate professionals may submit sites
for consideration to the Director of Real Estate

Submit here

SITE LAYOUT

This is just one sample site plan of the many options available.

THE FINANCIALS

INITIAL FRANCHISE FEE	$25,000

ROYALTY	2% – 8%**

INITIAL INVESTMENT RANGE	$290,984 – $594,478

FINANCIAL REQUIREMENTS	$300,000 Liquid Capital & $500,000 Net Worth

INITIAL AGREEMENT TERM	5 Years + 3 Optional 5 Year Renewals

Average Unit Volume	$631,612*

EBITDA	$108,379*

*Please refer to the full financial disclaimer on the bottom of this page.

**0% royalty for first year of store opening, so long as franchise agreement signed in 2018, in underdeveloped markets

OUR LEADERSHIP

JEFF OSTERFELD

CHIEF EXECUTIVE OFFICER

CRAIG DUNAWAY

President

LANCE VAUGHT

VICE PRESIDENT OF OPERATIONS

GREG GODDARD

DIRECTOR OF DEVELOPMENT & FRANCHISING

JEFF OSTERFELD
CHIEF EXECUTIVE OFFICER
Jeff Osterfeld, Founder and CEO of Penn Station, Inc., has created an award-winning sandwich shop distinguished by its commitment to quality. Jeff’s journey began with the deli he opened right after college in 1985. Just three short years later, he sold his first Penn Station franchise. Jeff knows the importance of surrounding himself with detail-oriented, intelligent, hard-working people who value the importance of family and teamwork. Consequently, he maintains close relationships both with Penn Station team members and valued vendor partners. Jeff sets the tone for the company and its leadership by putting franchisees first.
CRAIG DUNAWAY
President
Craig Dunaway’s pre-Penn Station resume includes work as a CPA and partner with accounting firm McCauley, Nicolas & Company, LLC, an accounting degree from Indiana University Southeast, and hands-on experiences as a Papa John’s and Penn Station franchisee. His all-encompassing knowledge of the industry allows Craig to make decisions that support the franchisees’ bottom lines. Craig is extraordinary in that he not only “talks the talk” but he has “walked the walk,” as he was once one of the largest and most successful franchisees at Penn Station. Craig is approachable, transparent, and an excellent communicator. He is committed to the brand, displays an impeccable work ethic, and is always a phone call away for franchisees.
LANCE VAUGHT
VICE PRESIDENT OF OPERATIONS
Lance Vaught worked in a range of roles within Operations & Training before overseeing the entire department, which makes up two-thirds of Penn Station’s corporate staff. Lance believes a prosperous company is not limited to only the successful execution of business operations, but also to providing the best possible support to franchisees. As a result, Lance has created tangible improvements, provided corporate infrastructure with streamlined processes, and incorporated effective protocols such as frequent in-store consultations. For Lance, “It is all about the people.” Lance’s work helped Penn Station East Coast Subs earn a ranking in the Top 125 Training Organizations in Training Magazine for 2017 & 2018.
GREG GODDARD
DIRECTOR OF DEVELOPMENT & FRANCHISING
Before Greg Goddard became Penn Station’s Director of Development and Franchising, he held a variety of roles in different industries, including Senior Franchise Specialist with Tide Dry Cleaners and General Manager for No Wake Marine. Those experiences enabled Greg to breathe P&G knowledge into Penn Station. Greg leads the discovery process, the real-estate analysis and approvals, franchise development, and consumer marketing. Greg’s diverse skill set allows him to serve one over-arching goal: increasing ROI for franchisees. Greg has been an agent of change for Penn Station, promoting growth and bringing high-quality franchisees into the system.

TESTIMONIALS

John Doyle

Ann Vanover

Roger Kirkland

Jim & Aileen Wilkins

Bernie Marconi