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PENN STATION, EAST COAST SUBS
Penn Station East Coast Subs is a franchise that grants rights to operate upscale, fast-casual restaurants specializing in prepared-to-order East Coast-style cheesesteaks and submarine sandwiches. Franchisees follow a proprietary system including training, confidential operating manuals, and periodic updates to ensure consistent customer experience across locations. The business targets the general public in suburban strip-shopping centers, business districts, and busy streets.
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Franchise Costs
2% to 8% royalty + 2% ad fund
Financial Performance
Item 19 Financial Performance
This franchise did not provide Item 19 financial performance data.
Be careful if you are interested in investing. The lack of financial performance representations may indicate limited data or varying results across franchises.
Extracted Item 19 Section
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Unlock financial performance dataHow PENN STATION, EAST COAST SUBS Compares
Key Insights
- Higher than average SBA loan default rate in Fast Casual
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
PENN STATION, EAST COAST SUBS Current | $441K – $820K | $25K | 2.0% | 321 |
| Tropical Smoothie Cafe | $276K – $771K | $35K | 6.0% | 1,650 |
| TROPICAL SMOOTHIE CAFÉ | $300K – $721K | $35K | 6.0% | 1,371 |
| FIREHOUSE SUBS RESTAURANTS (UNIT) | $405K – $1.6M | $20K | 6.0% | 1,249 |
| Zaxby's | $1.4M – $3.8M | $35K | 6.0% | 826 |
| Qdoba | $548K – $1.3M | $40K | 5.0% | 652 |
Fast Casual Average 112 franchises | $520K – $1.2M | $38K | 5.6% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 112 Fast Casual franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2025)
Outlets by state across the United States
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Unlock location growth dataSBA Loan History
Historical SBA 7(a) loan data for PENN STATION, EAST COAST SUBS franchisees (2010 – 2025)
Loans by Year
SBA 7(a) loan activity over time
* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.
43 SBA loans on record
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Unlock SBA loan historyFranchisee Contacts
290 franchisee contacts on file from official FDD filings.
290 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
Bankruptcy (Item 4)
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
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Unlock due diligence reportsFrequently Asked Questions
The total initial investment to open a PENN STATION, EAST COAST SUBS franchise ranges from $440,600 to $819,700. This includes a franchise fee of $25,000. Ongoing royalty fees are 2.0% of gross sales.
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