Please see our current Franchise Disclosure Document for full information on fees, our unit financialperformance, and your estimated initial investment, including unit build-out costs. So its a partnership, and I believe weve put our money where our mouth is in that regard. Founder and CEO, hes scaling back to enjoy more time with his family, much of it at their home on Lake Jocassee. Mutual trust is a prominent factor, Jeff says. The corporate operations of Penn Station are directly tied to Jeffs personality and leadership, which unsurprisingly has resulted in a detail-oriented, profitable operation. However, what was not compromised was the food. I find any excuse that I can just to tinker in the house. He spends a lot of time hiking in Jocassee Gorges; two years ago, he and son Jake, then 24, spent six days hiking 66 miles on trails there. This company and this founder were a treasure to work for. We have a very strong personal culture here at Penn Station when it comes to relationships. And many evenings, hell see them cruise back, going home. 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. I had no idea what franchising was like many people in the 1980s, I had heard the word, but really didnt know what it meant.. But it was totally different when I hired somebody else to do it. box-shadow: none !important; Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Senior transition and relocation, online auctions, and estate management. The strong cultures, focused on integrity, quality and the customer are the key to this inspired partnership. Jeff's journey began with the . !function(f,b,e,v,n,t,s) The ultimate goal is to have the finest public course in the state with a relatively small, select membership. Sounds pretty logical. This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. Do You Have Enough Capital to Fund a Franchise? Our craveable products are truly unique, which is why many Penn Station consumers become customers for life. Jeffs journey began with the deli he opened right after college in 1985 in Dayton, Ohio. Thats a culture thing. Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. {"@context":"https://schema.org","@graph":[{"@type":"WebSite","@id":"https://designconstruction.net/#website","url":"https://designconstruction.net/","name":"","publisher":{"@id":"https://designconstruction.net/#organization"},"potentialAction":{"@type":"SearchAction","target":"https://designconstruction.net/?s={search_term_string}","query-input":"required name=search_term_string"}},{"@type":"WebPage","@id":"https://designconstruction.net/2djnsfvg/#webpage","url":"https://designconstruction.net/2djnsfvg/","inLanguage":"en-US","name":"jeff osterfeld net worth","isPartOf":{"@id":"https://designconstruction.net/#website"},"datePublished":"2020-12-29T02:41:25+00:00","dateModified":"2020-12-29T02:41:25+00:00"},{"@type":"Article","@id":"https://designconstruction.net/2djnsfvg/#article","isPartOf":{"@id":"https://designconstruction.net/2djnsfvg/#webpage"},"author":{"@id":"https://designconstruction.net/author/#author","name":""},"publisher":{"@id":"https://designconstruction.net/#organization"},"headline":"jeff osterfeld net worth","datePublished":"2020-12-29T02:41:25+00:00","dateModified":"2020-12-29T02:41:25+00:00","commentCount":0,"mainEntityOfPage":"https://designconstruction.net/2djnsfvg/#webpage","articleSection":""}]} What you need to know: Net worth is the value of a person's assets minus liabilities. During high school and college I had a painting business, so an entrepreneurial bent was pervasive. My staff and I welcome you to The Golf Club at Stonelick Hills. So we implemented a plan in 2019. Jeff and Sheri Osterfeld have been coming to their rock and copper house for nearly four years and love it more than ever. He designed each hole decided on bunker and tree placement. Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. Stonelick Hills will always be different, you have my word. Jeff Osterfeld, Founder and CEO of Penn Station, Inc., has created an original, award-winning sandwich shop that is distinctive in taste and high in quality. And weve done it through this franchise model.. Our award-winning food is what sets us apart from all other sandwich chains and we believe our customers can taste the difference. See our current Franchise Disclosure Document, Item 7. Find contact's direct phone number, email address, work history, and more. fbq('init', '515347278668671'); We also require that each group appoint a Designated Owner that will be our primary point of contact and liason for the franchise. Curious to know where Penn Station East Coast Subs ranked on other franchise lists? What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. Staff relationships are no different. Were up double digits since COVID-19 started. Not that there is anything wrong with that. Certain jurisdictions require registration prior to the offer or sale of a franchise. In a tough competitive environment like fast food, maintaining long-term supply chains and staff is a demanding task, but Penn Station has a proud record of longstanding relationships in both. " /> The golf course isn't really for profit, but rather a hobby. View Jeff Osterfeld's business profile as Founder & Chief Executive Officer at Penn Station. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high. Penn Station's origins can be traced back to Jeff Osterfeld's first venture in 1983 as owner/operator of "Jeffrey's Delicatessen" in the Dayton Mall in Dayton, Ohio. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. Our Spectrum News app is the most convenient way to get the stories that matter to you. Transparent Oval Png, Taking into account various assets, Andrea's net worth is greater than $499,999; and makes between $250K+ a year. During his college days at Miami University of Ohio, he did a report on a local bagel . #7 Forbes 400 2020. Now,. And weve done it through this franchise model.. E-Club. Virtual Reality Rooms Near Me, 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. Transparent Oval Png, Cincinnati's News Radio 700WLW! Its such an escape kind of place, Osterfeld says. Although there are a few home sites, they will be adjacent to just two wooded holes and will be out of play, not in plain view of the golfer. . We do not offer franchises in jurisdictions where we are not registered (or exempt from registration). Where Can I Buy Sunpatiens Seeds, Browse franchises that are similar to Penn Station East Coast Subs. Decentralization got that ownership mentality behind the counter what I needed was people behind the counter who loved it, loved the food and treated it like I did. East coast with 306 restaurants currently open in 15 states across the United States. Lerner is an American entrepreneur, mentor, speaker, influencer, and pianist. The lemonade is made from scratch every day using hand-squeezed lemons. And we dont burn through a lot of franchisees. 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. Osterfeld is the founder and CEO of Penn Station East Coast Subs. Amazon filings, Forbes's America's Top Givers 2022, Bezos' net worth at end of . Osterfeld said Stonelick was designed and built with a focus on the golf environment and atmosphere. 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. Uniqueness . Penn Station East Coast Subs has 2,000 employees, of which 2 are in a leadership position. margin: 0 .07em !important; In fact, Penn Station restaurants enjoy a unique position within the sandwich categorysystemwide, our lunch and dinner dayparts are nearly evenly divided! What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. Check BackgroundGet Contact InfoThis Is Me - Edit Reputation & Background View All border: none !important; Decentralization got that ownership mentality behind the counter what I needed was people behind the counter who loved it, loved the food and treated it like I did. Easy Bake Oven Brownie Mix, This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company. Jeff knows the importance of surrounding himself with detail-oriented, determined, intelligent, hard-working people who also value the importance of family and teamwork. #1 Forbes 400 2022. 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. Our listings and rankings are solely research tools you can use to compare opportunities. It had just the weathering to make it look like it belonged in a castle. Were poised for growth. We came home and decided if we ever have a second home, we wanted it to be in the mountains, he says. 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. There are more than 300 Penn Station East Coast Subs locations throughout the United States. Today, Penn Station has become a large chain across the vertical-align: -0.1em !important; Most new clubs in Cincinnati in the last 10 to 20 years were built with an eye towards the ultimate goal PROFIT! These concepts continually rank as the top franchises in the coffee and tea industry. Strangely, that's not the case at all. Net Worth: $500,000: Franchise Fee: $25,000 : Royalty Fee: . In Part III Jeff tells us about designing and running his own golf course and we wrap up our conversation by talking about what Jeff currently has on his plate as well . Jeff Osterfeld Title: Designer/owner, Golf Club at Stonelick Hills Education: Miami University Career path: Founder, owner and CEO of Penn Station Inc., a restaurant franchise. Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses. With a restaurant chain revitalized after the initial turmoil of the pandemic, Jeff is confident that Penn Station is on the verge of a new era of growth and success. This ranking is based on an evaluation of more than 150 data points, including costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability. That's fun. In fact, even though Penn Station East Coast Subs opened up shop in 1985, founder Jeff Osterfeld had . It came after two decades of operating a successful restaurant franchise. The Osterfelds have four children ranging in age from 21 to 28. 9976. Home. It makes me glad to be right where Im at.. We simply opened the door. We have a very strong personal culture here at Penn Station when it comes to relationships.. Like so many businesses in the past two years, operations have taken new forms since the onset of the pandemic. Top executive Jeffrey L. Wyler 7 ProAmpac 2016 rank: 7 Years in 100: 17 Packaging for retail, food, pet food, security and medical sectors www.proampac.com Revenues 2016 $1.1 billion 2015 $929. However, what was not compromised was the food. We pride ourselves on our operational focus and simplicity. Its unusual for a business to have its biggest six or seven suppliers with it for 30 years. He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. Ive had eight or 10 employees who have been with me 2030 years, he says. When you live and work on the lake, there are a lot of times you dont stop to smell the roses, he says. marinara sauce recipe uk. All golfers from every set of tees will appreciate the uniqueness of each hole and feel individually challenged by the variety of shots necessary to complete such a strategic layout. Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Earning a Spot In our New 'Hall of Fame'. Subsidiaries. In December 2012, National Geographic magazine named Jocassee Gorges one of the 50 last great places in the world, noting that the gorges have one of the highest concentrations of waterfalls in the eastern United States. Management to. Many of these are real estate deals disguised as Golf Clubs. In 1988, Jeff's vision for an upscale, quick -service dining experience revolving around "fresh ingredients and display cooking" was formulated into a franchising concept. It was during a trip to Philadelphia that he first realized the popularity of the cheesesteak sandwich. Heres what you need to know if youre interested in opening a Penn Station East Coast Subs franchise. After realizing he'd never make it to the professional ranks he became fascinated with golf course design. Jocassee Lake has produced five state record-sized fish and is a great place to hook red eye bass and rainbow and brown trout. Based on our data team's research, Don Fox is the Penn Station East Coast Subs's CEO. More so than in the cities and towns from which many of us hail, we go to the lakes to be reminded that life happens slowly, one sunrise at a time. In 1983, he opened "Jeffrey's Delicatessen" at the Dayton Mall in Dayton, Ohio. Standing low to the ground on a point jutting out into Lake Jocassee is the welcoming home and respite of a busy businessman and his wife. That sets the tone for the day, he says. He began selling a version of the cheesesteak sandwich at his own restaurant, and it instantly became a huge hit. The Osterfelds started their castle by buying two lots on the point and then adding another 10 acres to protect their privacy. 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. if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; In a tough competitive environment like fast food, maintaining long-term supply chains and staff is a demanding task, but Penn Station has a proud record of longstanding relationships in both. We got lucky in this regard, and its really a coincidence, he admits. Clinical Anatomy Of Knee Joint Ppt, Weve taken in some Papa Johns people three in particular when Papa Johns moved from Louisville. I learned about cheesesteak in Philadelphia, and added that to the menu. The course is built, lots are sold, homes are constructed surrounding each hole and eventually the original developer sells the course to the home owners and heads off to the next project. The driving force behind Stonelick Hills was to design and build a pure, golf only environment and spend my remaining years improving all aspects of the golf experience, a lifetime labor of love. But that's not the goal. Often, the changes are enormous. Good ideas often come at the least expected times. The unique food menu it provides may prove to be attractive for the franchisee with operational simplicity and unit-level economics. Home of the Bill Cunningham show, Mike McConnell, Scott Sloan, Eddie & Rocky, Lance McAlister, and flagship station of the Cincinnati Reds! 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