[1] Currently, Penn Station has over 300 locations in 15 states.[2]. $0. And we dont burn through a lot of franchisees. Its why many people like Miller choose to live there. 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. COVID-19 hit, and the thing I was worried about jumped to 95 per cent.. Our craveable products are truly unique, which is why many Penn Station consumers become customers for life. Weve kept one company unit that we train in here in Cincinnati, and we have 314 outlets today. Jeff frequently sets a tone for the company and its leadership by making well-informed decisions that protect the business and its franchisees from spending unnecessary costs. Kevin Osterfeld, brother of Penn Station founder and owner Jeff Osterfeld, sold P.S. The concept for an East Coast sub restaurant came to Jeff Osterfeld soon after he graduated from Miami University in Oxford, Ohio. In just about every major city I have traveled in my lifetime, there exists at least one upscale Golf Club that was truly built just for GOLF. He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. Jeff has a private pilots license, so the 85-minute flight from Cincinnati often includes the Osterfelds two daughters who live there as well (a third daughter lives in Houston, a son in nearby Greenville, S.C.). Unlike many other brands, Penn Stations comprehensive, award-winning franchisee training program is completed in just four weeks. Penn Station East Coast Subs began in Cincinnati, Ohio with founder Jeff Osterfeld. Jeff took his innovative ideas on quick service dining to downtown Cincinnati where he opened his first Penn Station Restaurant in 1985. That's fun. It's also hosted USGA qualifiers, Cincinnati Golf Assocation tournaments, and other events. It was here that the roots of the "ownership mentality" began to form for the founder and Chief Executive Officer of Penn Station, Inc. Jeff saw first-hand the impact his presence in the store had on product quality, customer service and sales. We pride ourselves on the quality of our product. I had seen the carryout percentage go from 20 per cent when we started to 60 per cent, and it was a long, steady climb every year. Ive had eight or 10 employees who have been with me 2030 years, he says. 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. Easy Bake Oven Brownie Mix, Mutual trust is a prominent factor, Jeff says. Clever people make their own luck. 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. .tenned{float:right;margin-bottom:-876px;opacity:0.03}, GET UPDATE ON: Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company. Listen to this episode from From the Beginning on Spotify. 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? BATAVIA 15 years ago, Jeff Osterfeld opened his first golf course. How To Make A Winter Hanging Basket, And then wham! Often, the changes are enormous. Just three short years later, he sold his first Penn Station franchise and he remains actively involved in the business. " /> Compare where Penn Station East Coast Subs landed on this years Franchise 500 Ranking versus previous years. Where Can I Buy Sunpatiens Seeds, Closer to home, he loves his regulation-size shuffleboard court beside the house, not far from the dock. 50 Milford, OH 45150 Social Facebook, Twitter, LinkedIn Business Overview Franchising Since 1987 (36. It was during a trip to Philadelphia that he first realized the popularity of the cheesesteak sandwich. How To Use Bass Lures, Its what you work hard for, why you do what you do. Many mornings, Miller watches a pair of otters cruise by the marina. img.wp-smiley, Osterfeld is the founder and CEO of Penn Station East Coast Subs. It was in my blood, he tells The CEO Magazine. Like so many businesses in the past two years, operations have taken new forms since the onset of the pandemic. Our franchisees dont abuse suppliers, and our suppliers know that. Were poised for growth. California Consumer Limit the Use of My Sensitive Personal Information, California Consumer Do Not Sell or Share My Personal Information, Jeff Osterfeld opened his first restaurant in the Dayton Mall in 1983, The first Penn Station opened in downtown Cincinnati in 1985, Osterfeld's The Golf Club at Stonelick Hills opened in 2004. On this Wikipedia the language links are at the top of the page across from the article title. Liabilities include items like mortgages, car payments, and credit card debt. Heres what you need to know if youre interested in opening a Penn Station East Coast Subs franchise. It came after two decades of operating a successful restaurant franchise. Osterfeld Enterprises Leadership Jeffrey Osterfeld, CEO Corporate Address 1226 U.S. Hwy. My staff and I welcome you to experience a one of a kind course, routed through heavily forested hills and over and around numerous ponds and lakes. COVID-19 hit, and the thing I was worried about jumped to 95 per cent.. border: none !important; Enjoy your round as a relaxing stroll through nature, inhabited by the variety of wildlife typical of such unspoiled surroundings. Osterfeld's concept of combining up-scale, quick-service dining experience with fresh ingredients and signature display cooking was converted into a franchise concept in 1987. We got lucky in this regard, and its really a coincidence, he admits. Definition: A ongoing fee paid to the franchisor on a regular basis. 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. 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. if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; But it was totally different when I hired somebody else to do it. Definition: The length of time your franchise agreement will last. It was in my blood, he tells The CEO Magazine. The people we do business with are all trying to make money too. 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. height: 1em !important; Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse. Were being aggressive right now. Our menu features an array of mouth watering Grilled Penn Station submarine sandwiches, fresh-cut fries and hand-squeezed lemonade. A pragmatist if you will. 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. Science Diet Sensitive Stomach, Where Can I Buy Sunpatiens Seeds, Discover More: Tracy Vilar Bio: Hus I liked the idea and thought about it.. Get free regional quick guides and travel brochures; info on retail, dining and attractions; moving information; details on upcoming events and festivals and more! Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations. Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. Subsidiaries. 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. I have a product. Were up double digits since COVID-19 started. That's the perfectionist in me looking at things I've done out there, said Osterfeld. Start By Evaluating Your Goals. Penn Station had to rapidly change its modus operandi, adapting to many more takeaway orders instead of eating in. Osterfeld cherishes the memory. That's fun. The warmth he has for his community is common among many people who live around mountain lakes in the Southern Appalachians. Never miss a beat when you sign up to receive our newsletter. 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. Clinical Anatomy Of Knee Joint Ppt, 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. Get ready for the franchising industry's biggest trade show event of the year. Here's How to Find Out. The dock, covered to keep the weather off the boat, gets plenty of use come swim time. Management to. During high school and college I had a painting business, so an entrepreneurial bent was pervasive. Our franchisees dont abuse suppliers, and our suppliers know that. 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. s.parentNode.insertBefore(t,s)}(window, document,'script', box-shadow: none !important; If you are interested in owning one or more restaurants, we invite you to review our franchise information and contact us today. 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. We got lucky in this regard, and its really a coincidence, he admits. } This is everything you need to know about funding a franchise. Check BackgroundGet Contact InfoThis Is Me - Edit Reputation & Background View All . We simply opened the door. Click Here. My staff and I welcome you to The Golf Club at Stonelick Hills. This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. 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? Taking into account various assets, Andrea's net worth is greater than $499,999; and makes between $250K+ a year. All sandwiches are prepared fresh in full view of the customer using delicious hearth-baked bread, USDA Choice Steak and the finest meats, cheeses and vegetables. That should include reviewing the companys legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers. Once every month or so, some configuration of the family gathers at the house. Ive had eight or 10 employees who have been with me 2030 years, he says. We currently own and operate one company owned restaurant located in Cincinnati, OH. See our current Franchise Disclosure Document, Item 7. Its essentially a distribution system, he says. Clever people make their own luck. Penn Station East Coast Subs has been ranked in Entrepreneurs Franchise 500 many times in the past several decades. The largest local franchisee of Cincinnati-based sub shop Penn Station has sold his company. Transparent Oval Png, This sandwich became an instant hit with customers. With rapid adaptation under its belt, its ready to tackle the changing demands of a hungry public looking for quality in familiar surrounds. . This company and this founder were a treasure to work for. fbq('track', 'PageView'); Net Worth: $500,000: Franchise Fee: $25,000 : Royalty Fee: . Planet Sub. We went from 60 per cent carryout to 95 per cent carryout. Net Worth of $500,000 and $300,000 unencumbered liquid assets. {if(f.fbq)return;n=f.fbq=function(){n.callMethod? But the perception of Penn Stations portability in consumers minds was such that business boomed. The proximity of the Managing Owner's principal residence to your Penn Station franchises must be of an acceptable distance. It had just the weathering to make it look like it belonged in a castle. Get the best experience and stay connected to your community with our Spectrum News app. Two years later, hed open what would become Penn Station in downtown Cincinnati. 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. 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