Rank no. 412 – Cousins Subs – US
Products & Services: Hot/cold subs, salads, soups, desserts
Number of Locations: 133
Total Investment: $119.19K – 300.79K
Began Franchising: 1985
Missing the submarine sandwiches he’d enjoyed growing up, Bill Specht began thinking about opening his own sandwich shop in his new home, Milwaukee. Finally, he teamed up with his cousin, Jim Sheppard, along with their wives, Sandy Specht and Mary Sheppard, to open the first Cousins Subs in 1972. With the help of a local baker, they came up with a unique bread recipe, and bread is now baked fresh several times a day in every Cousins Subs shop.
Net Worth: $300,000
Liquid Cash Available: $100,000
10% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 20. Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators).
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|
|Founded||Milwaukee, Wisconsin (1972)|
|Headquarters||Menomonee Falls, Wisconsin|
|Key people||Bill Specht (Founder), Christine Specht (President)|
Other food products
Cousins Submarines, better known as Cousins Subs, is a U.S. sub sandwich chain founded in 1972 in Milwaukee, Wisconsin. Cousins Subs is a regional chain with stores throughout the Midwest and on the West Coast. Even though the majority of franchises are in Wisconsin, Cousins restaurants can also be found in five other states: Arizona, Illinois, Michigan, Minnesota, and North Dakota.
Cousins Subs started in 1972, founded by two cousins from Atlantic City, New Jersey: Bill Specht and James Sheppard. They opened their first restaurant in Milwaukee, located at 60th Street and Silver Spring Drive.
Until 1985 all Cousins Subs locations were company-owned. Cousins continued to open company-owned stores until 2004. In October 2004, Cousins announced that it would be selling 25 of their 40 company owned stores to franchisees in order to adopt a more traditional franchise growth model.
Co-founder James “Jim" Sheppard died on July 2, 2007 due to complications stemming from surgery and long-term health problems.