Ike's Love & Sandwiches franchise
2024 filing · April 9, 2024GrowingShares sales figures
Ike's Love & Sandwiches at a glance
A sandwich shop serving hot meat and vegetarian sandwiches, with gluten-free and vegan options. At the end of 2023 there were 106 Ike's Love & Sandwiches locations in the US, 7 franchised and 99 company-owned, so most are run by the company itself.
The business
- Franchisor
- Ike's, the Franchise, Inc
- The company that sells the franchises
- Franchisor based in
- San Francisco, California
- Typical size
- 500–2,000 sq ft
What you pay
- Cost to open
- $141K–$614K
- Fee, build-out and opening working capital
- Franchise fee
- $80,000
- Paid once, when you sign
- Royalty
- 8%
- 8% of gross sales, paid weekly
- Agreement length
- 10 years
- Territory
- Limited
- Limited protection
- Franchisor financing
- None offered
Where it is
- US locations, 2023
- 106
- Franchised and company-owned
- Franchised
- 7
- Company-owned
- 99
- Change in 3 years
- +5
- Franchised locations, 2021–2023
- States
- 6
- Most in California, Arizona and Nevada
From Ike's, the Franchise, Inc’s 2024 filing; SBA status from the SBA Franchise Directory, October 28, 2026.
Where it ranks
Ike's Love & Sandwiches among all franchises with the same figure.
| Figure | Ike's Love & Sandwiches | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $377,650 | Costs more than 52% of franchises |
| Franchise feePaid once, when you sign | $80,000 | Higher than 97% of franchises |
| RoyaltyShare of sales paid to the franchisor | 8% | Higher than 85% of brands with a set rate |
| US locationsFranchised and company-owned | 106 | More than 77% of franchises |
How much a Ike's Love & Sandwiches franchise costs
Opening one Ike's Love & Sandwiches costs an estimated $141,300 to $614,000. That covers the franchise fee and everything else needed to open, through the first months of working capital.
The biggest costs are leasehold improvements & construction cost ($5,000 to $150,000) and furnishings, fixtures & equipment ($4,000 to $100,000). Here is every line of the estimate as filed:
| What it pays for | Range | Low | High |
|---|---|---|---|
| Initial Franchise Fee | $80,000 | ||
| Delayed Opening Fee | $0 | $9,000 | |
| Leasehold Improvements & Construction Cost | $5,000 | $150,000 | |
| Licenses and Permits (Not Including Beer & Wine License) | $500 | $4,000 | |
| Rent –3 months | $3,000 | $54,000 | |
| Security Deposits | $200 | $20,000 | |
| Blueprints | $250 | $20,000 | |
| Furnishings, Fixtures & Equipment | $4,000 | $100,000 | |
| Signage – Interior and Exterior | $450 | $20,000 | |
| POS Computer System | $1,000 | $15,000 | |
| Travel & Living Expenses While Training | $500 | $5,000 | |
| Third Party Manager/Leadership Training | $2,000 | $6,000 | |
| Insurance – 3 Months | $900 | $3,000 | |
| Professional Fees | $1,000 | $5,000 | |
| Grand Opening Advertising Campaign | $15,000 | ||
| Opening Inventory & Supplies | $2,500 | $15,000 | |
| On-Site Location Evaluation | $0 | $500 | |
| Delivery Vehicle | $0 | $2,500 | |
| Ancillary Real Estate Costs | $5,000 | $50,000 | |
| Additional Funds – 3 Months | $20,000 | $40,000 | |
| Total | $141,300 | $614,000 | |
Source: Ike's, the Franchise, Inc, 2024 filing, page 16
Ike's Love & Sandwiches franchise fee
The franchise fee is $80,000. You pay it when you sign the franchise agreement.
Source: Ike's, the Franchise, Inc, 2024 filing, page 10
Royalty and ongoing fees
| Royalty | 8% of gross sales, paid weekly. |
|---|---|
| Computer System Maintenance | $2,000 to $10,000 |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Ike's, the Franchise, Inc, 2024 filing, page 11
Other fees as filed, from page 14. The filing lists every fee, including late fees and audit costs.
Sales and earnings
Shares figures Ike's Love & Sandwiches publishes sales or earnings figures for its locations. The full tables, with notes on which locations are counted, are in its filing.
- Average sales
- $987,761
- Median sales
- $955,280
Yearly figures for 2023, covering affiliate-operated restaurants open all of 2023 (excludes seasonal units) (79 locations). The average is about 2.6 times the midpoint of the cost to open.
Sales are what a location takes in before rent, payroll, royalties and other costs, not what its owner keeps.
Source: Ike's, the Franchise, Inc, 2024 filing, page 49
Growth and closures
Share of franchised locations, 2023 / 2021–2023. Typical means the median: half of brands are above it, half below.
| Measure | Ike's Love & Sandwiches | Typical sandwich brand | Typical franchise |
|---|---|---|---|
| GrowthNet change in franchised locations | +17% / +250% | 0% / 0% | +1.2% / +10% |
| ClosuresTerminated, not renewed or stopped operating | 0% / 50% | 2% / 13% | 3.9% / 16% |
| Bought backLocations the franchisor took back | 0% / 0% | 0% / 0% | 0% / 0% |
Typical sandwich brand is the median of the 35 brands in sandwich franchises with three years of counts.
How Ike's Love & Sandwiches compares
Of the 80 sandwich franchises on this site, Ike's Love & Sandwiches is the 5th cheapest to open and the 17th largest by number of locations.
| Figure | Ike's Love & Sandwiches | Typical sandwich brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $141K | $321K | $222K |
| Cost to open, high end | $614K | $683K | $477K |
| Franchise fee | $80K | $32K | $40K |
| Royalty | 8% | 6% | 6% |
| US locations | 106 | 31 | 21 |
| Shares earnings figures | Yes | 50 of 80 | 2,147 of 3,352 |
Typical is the median across the 80 brands in sandwich franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned | Opened | Closed |
|---|---|---|---|---|
| 2021 | 4 (+2) | 76 | +3 | −1 |
| 2022 | 6 (+2) | 88 | +2 | 0 |
| 2023 | 7 (+1) | 99 | +1 | 0 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
See which brands grew most in the fastest-growing franchises rankings.
More in the guides: sandwich and sub franchise costs and franchise failure rates.
Source: Ike's, the Franchise, Inc, 2024 filing, page 51
Where Ike's Love & Sandwiches locations are
At the end of 2023, Ike's Love & Sandwiches had locations in 6 states. The most are in California, Arizona and Nevada.
- California77
- Arizona12
- Nevada6
- Texas6
- Colorado3
- Utah2
Source: Ike's, the Franchise, Inc, 2024 filing, page 52
Who owns Ike's Love & Sandwiches?
Ike's Love & Sandwiches franchises are sold by Ike's, the Franchise, Inc. Its filing names no parent company.
From Ike's, the Franchise, Inc’s 2024 filing, page 7.
Lawsuits and bankruptcy
| Lawsuits and regulatory actions | None. The filing says no litigation has to be disclosed. |
|---|---|
| Bankruptcy | None. The filing says no bankruptcy has to be disclosed. |
Franchisors must disclose lawsuits and bankruptcies involving the company, its parents and affiliates, and its executives. Many cases are routine disputes with franchisees over fees or contracts; read the descriptions in the filing and ask current owners about anything that worries you.
Source: Ike's, the Franchise, Inc, 2024 filing, litigation on page 10, bankruptcy on page 10
Ike's Love & Sandwiches filings
The figures on this page come from Ike's, the Franchise, Inc’s 2024 filing, issued April 9, 2024, on record with the Minnesota Department of Commerce.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2024 filing | April 9, 2024 | Minnesota | Costs, fees and locations, 2021–2023 |
Each link opens the filing as a PDF. See the newest filings across all brands.
Other sandwich franchises
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