Jersey Mike's Sizzle Doesn't Translate to Public Market The recent IPO of Jersey Mike's has sent shockwaves through the restaurant industry, with shares opening at $21, below its initial public offering pricing of $23 per share.
This modest stumble for a company valued at $7. 3 billion after raising over $1 billion in its market debut is not entirely surprising.
Jersey Mike's success can be attributed to its high average unit volumes and asset light franchise model.