Jimmy John's

Jimmy John's is an American sandwich chain headquartered in Champaign, Illinois. The business was founded by Jimmy John Liautaud in 1983. After Liautaud graduated from high school, his father gave him a choice to either join the military or start a business. Liautaud, choosing the latter, initially decided to start a hot dog business, but was changed to opening a sandwich business due to costs. The Jimmy John's franchise has over 2,700 locations, with 98% of them being franchises. In 2016, Roark Capital Group purchased a majority stake in the company. Later, in 2019, Inspire Brands purchased the company from Roark Capital Group for an unspecified amount. History After Jimmy John Liautaud graduated second to last in his class at Elgin Academy in 1982, his father gave him a choice to either join the Army or start a business. Although his father wanted him to enlist, the younger Liautaud chose the latter, and his father agreed to loan him $25,000 in exchange for a 48% stake in the business. Initially Jimmy John wanted to open a hot dog stand, but after visiting numerous such stands throughout the summer of 1982, he realized the $25,000 would not be enough for such a venture. After a chance encounter at a sandwich shop, Jimmy John realized that he could open a sandwich shop within his available budget by purchasing premium meats at a neighborhood market and baking his own bread. With the help of his family as tasters, he decided to put four sandwiches on his original menu. Paying $200 a month in rent, Liautaud could only afford used equipment consisting of a refrigerator, a chest freezer, an oven, and a meat slicer.