Jimmy John’s Owner, Founder, and Chairman Jimmy John Liautaud. Jimmy John’s Franchise, LLC is an American franchised sandwich restaurant chain, specializing in delivery.
Most of this, as one might imagine, is due to the success of his brand Jimmy John’s. Celebrity Net Worth notes that when Jimmy John’s was acquired in 2019 by Inspire brands, the owner of Arby’s and Buffalo Wild Wings, it was bringing in $2 billion in annual revenue.
Despite the fact that Jimmy John’s made their Super Bowl advertising debut only this year, Jimmy John Liautaud, the founder and former chairman of Jimmy John’s, has still managed to achieve a billionaire status.
In March 2017, Jimmy John’s won Franchise Times’ “Deal of the Year” for attracting Roark Capital Group as the company’s new majority owner. FT’s judges called the deal “one of the best private equity deals of all time in the restaurant business.” CNN Money listed Jimmy John’s as one of ten “Great Franchise Bets.”
Who owns Jimmy John’s franchise?
For the type of container, see carboy. Jimmy John’s Franchise, LLC is an American franchised sandwich fast food restaurant chain owned by Inspire Brands. It was founded by Jimmy John Liautaud in 1983 and is headquartered in Champaign, Illinois.
After Jimmy John Liautaud graduated second to last in his class at Elgin Academy (1982), his father gave him the choice to join the military or start a business. Liautaud chose the latter, and his father lent him $25,000 to start a hot dog business, with the son owning 52% of the business, and his father owning 48%. He soon realized that a hot dog business would cost more than he had, so he decided to open a sandwich shop.
Franchising continued until 2002 when Liautaud stopped selling franchises for one year to give support for stores that were struggling. The first franchise store opened in Eau Claire, Wisconsin. In 2001, the hundredth Jimmy John’s store opened in Mt. Pleasant, Michigan.
In 1986, he opened his second store in Macomb, Illinois, and in 1987, he opened a third in Champaign, Illinois. In 1988, Liautaud met Jamie Coulter, who would later become the CEO of Lone Star Steakhouse & Saloon. Coulter mentored Liautaud and “taught [him] how to effectively run multiple units.”.
Since he had little expertise in real estate, he decided to take on a partner who did. In January 2007, Liautaud sold a 33% stake to Weston Presidio, a San Francisco–based private-equity firm. In the first year after partnering with Weston Presidio, 100 real estate deals were closed.
In 2009 and 2010, Jimmy John’s sponsored Kevin Harvick in the NASCAR Nationwide Series. In 2011, Jimmy John’s and Richard Childress Racing reached a multi-year agreement to sponsor Harvick for the Sprint Cup Series. The 2014 sponsorship continued with Harvick and the Stewart-Haas Racing team.
Where is Jimmy John’s sandwich chain located?
Thirty-six years after founding his eponymous sandwich chain in a converted garage in Charleston, Illinois, Jimmy John’s founder Jimmy John Liautaud is selling his remaining stake in the company to Inspire Brands for an undisclosed amount.
Inspire ’s decision to buy Liautaud’s remaining stake is the latest in a string of acquisitions for the company, which was formed last year by the merger of Arby’s and Buffalo Wild Wings. Inspire also purchased Sonic Corp. in a $2.3 billion deal last September.
The Jimmy John’s deal is expected to close by the end of this month. When it’s completed, Inspire will be the fourth-largest restaurant company in the U.S. with more than $14 billion in annual sales, according to Inspire’s press release.