Osterfeld Enterprises Leadership Jeffrey Osterfeld, CEO Corporate Address 1226 U.S. Hwy. Jeff Cohen started dating Heather Peggs in July 2015. document.getElementById( . 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. Amazon. Peter Cancro started working in the submarine The first restaurant was opened in 1985 by Jeff Osterfeld in Cincinnati, Ohio. I knew this was coming and that we needed to repurpose the kitchen. The people we do business with are all trying to make money too. We are well on our way! Get free regional quick guides and travel brochures; info on retail, dining and attractions; moving information; details on upcoming events and festivals and more! And weve done it through this franchise model.. With determination, a business degree from the Miami University Farmer School of Business, and a dedicated vision, Jeff began his journey by opening a deli shop straight out of college, and then parlaying this initial success with the initial Penn Station opening in 1985. !function(f,b,e,v,n,t,s) During high school and college I had a painting business, so an entrepreneurial bent was pervasive. Penn Station East Coast Subs was founded by Jeff Osterfeld, a former co-operator of a deli in Dayton, Ohio. Seeing them enjoying the lake makes him feel part of a larger ecosystem that exists around the nurturing waters. East coast with 306 restaurants currently open in 15 states across the United States. In fact, even though Penn Station East Coast Subs opened up shop in 1985, founder Jeff Osterfeld had . Penn Station East Coast Subs franchises are known for their cheesesteaks and sandwiches. Get ready for the franchising industry's biggest trade show event of the year. Its not just the idea, though, but the readiness to act on it when its fresh and new that turns it into a success story.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. On Forbes Lists. Youll see our 314 outlets hopefully grow to 600 in short order over the next couple of years. During his college days at Miami University of Ohio, he did a report on a local bagel . penn-station .com. Transparent Oval Png, 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. And like most college students, wed go to bars at night and afterwards, wed find a place that had sandwiches. In the end, ultimately, its about that. Dont let the climax created by the beauty and drama so evident in the finishing holes impede your ability to fully appreciate the genuine balance in the design and the conditioning of the entire golf course. 1. I see myself as a common sense kind of businessman. That's fun. Science Diet Sensitive Stomach, Where Can I Buy Sunpatiens Seeds, Discover More: Tracy Vilar Bio: Hus From his office upstairs, Osterfeld can run the 277 Penn Station East Coast Subs restaurants that his business owns. If you are interested in owning one or more restaurants, we invite you to review our franchise information and contact us today. Home. Definition: The length of time your franchise agreement will last. Plus, since its hot food, we also had packaging issues.. All sandwiches are prepared fresh in full view of the customer using delicious hearth-baked bread, USDA Choice Steak and the finest meats, cheeses and vegetables. It was in my blood, he tells The CEO Magazine. Book Of Common Prayer App, Definition: The total amount necessary to begin operation of the franchise. We are having to repurpose our kitchens because, suddenly, were making a couple of hundred sandwiches a day and so much of it is carryout, he shares. He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. Just three short years later, he sold his first Penn Station franchise and he remains actively involved in the business. Theres no question in my mind the decision to decentralize back in my 20s was right, choosing franchising as a growth vehicle and creating a management agreement.. We have a very strong personal culture here at Penn Station when it comes to relationships.. And like most college students, wed go to bars at night and afterwards, wed find a place that had sandwiches. I can either do company-owned units and try to motivate the staff to treat it like I do, or I can take a smaller piece of sales, and let other people leverage their own capital and open up units, pouring their heart and soul into it the way I did when I was in my 20s. hbspt.forms.create({ Right? Net Worth of $500,000 and $300,000 unencumbered liquid assets. portalId: "5209426", Today, Penn Station has become a large chain across the I learned about cheesesteak in Philadelphia, and added that to the menu. Founder & CEO, Penn Station East Coast Subs. Gift Certificate. We came home and decided if we ever have a second home, we wanted it to be in the mountains, he says. You'll typically then be invited to a meeting at Penn Station East Coast Subs headquarters in Milford, Ohio. Or theyll soak in the stainless steel hot tub after a pleasant meal in the outdoor dining room. According to Jeff, employees buy into the Penn Station business culture of acceptance and community effort because they can see its authenticity. It was in my blood, he tells The CEO Magazine. And weve done it through this franchise model.. 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. Good ideas often come at the least expected times. Ive had eight or 10 employees who have been with me 2030 years, he says. [1] Currently, Penn Station has over 300 locations in 15 states. The largest local franchisee of Cincinnati-based sub shop Penn Station has sold his company. The Success of the $20 Billion Sandwich Industry. #1 Billionaires 2022. Get the best experience and stay connected to your community with our Spectrum News app. Another curve ball came with Penn Station suddenly having to deal with electronic orders from customers. Were being aggressive right now. We protect their interests within our franchise system. With many attractive development territories available for multi-unit growth, there has never been a better time to become a Penn Station franchisee. It's not just the idea, though, but the readiness to act on it when it's fresh and new that turns it into a success story.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. Its pretty much the way my brain works and the way I see the world. The dock, covered to keep the weather off the boat, gets plenty of use come swim time. There are more than 300 Penn Station East Coast Subs locations throughout the United States. -------------------------------------------------------------- */ display: inline !important; Founded in Cincinnati, Ohio in 1985 by Jeff Osterfeld, Penn Station . Our craveable products are truly unique, which is why many Penn Station consumers become customers for life. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems. Now,. Fed by four rivers, including the national wild and scenic Horsepasture River, its one of the clearest lakes Osterfeld has ever seen. 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. Were better together as we strive to bring an outstanding food experience to the consumer. Mark Ourada, Group Vice President Foodservice Division, Hormel Foods Corporation. According to Jeff, employees buy into the Penn Station business culture of acceptance and community effort because they can see its authenticity. Founder and CEO, hes scaling back to enjoy more time with his family, much of it at their home on Lake Jocassee. Want to learn more? Its essentially a distribution system, he says. Are you eager to see what else is out there? Were poised for growth. We do not offer franchises in jurisdictions where we are not registered (or exempt from registration). I truly hope we exceed your expectations and your visit is a relaxing escape from the hectic pace of today! That should include reviewing the companys legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers. The ultimate goal is to have the finest public course in the state with a relatively small, select membership. Clever people make their own luck. The wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire. 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. He and his wife found the lake about 10 years ago on their way home to Cincinnati from Georgia. The potatoes are hand selected, fresh-cut and flash-fried in cholesterol-free peanut oil. Subsidiaries. Plus, since its hot food, we also had packaging issues.. I learned about cheesesteak in Philadelphia, and added that to the menu. Certain jurisdictions require registration prior to the offer or sale of a franchise. When you live and work on the lake, there are a lot of times you dont stop to smell the roses, he says. It had just the weathering to make it look like it belonged in a castle. Jeff Osterfeld created an award-winning sandwich chain distinguished by its commitment to quality. I found that when I ran one of the stores, it was clean and the food was made right. Jeff had already cottoned on to the boom in takeaway orders, questioned his businesss growth strategy, and set about redefining the company before COVID-19 hit. We have a very strong personal culture here at Penn Station when it comes to relationships.. Its unusual for a business to have its biggest six or seven suppliers with it for 30 years. CONTACT US: 330-896-9900, GET UPDATE ON: Here, days and nights are governed by the rise and temperature of the water, by mists that hide coves and piercing sun that dissipates fog. I have to figure out how I want to get it to the public. padding: 0 !important; Were up double digits since COVID-19 started. Its a bit of walk a mile in my shoes, he points out. He eventually expanded to Cincinnati, where he opened his first Penn Station restaurant in 1985. By 1987, Osterfeld had opened several Penn Station restaurants in and around Cincinnati. Jeff has a private pilots license, so the 85-minute flight from Cincinnati often includes the Osterfelds two daughters who live there as well (a third daughter lives in Houston, a son in nearby Greenville, S.C.). Enjoy your round as a relaxing stroll through nature, inhabited by the variety of wildlife typical of such unspoiled surroundings. However, what was not compromised was the food. 513-735-4653. 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.. 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. 9976. Finally, you may be able to sign the franchise agreement that will allow you to open the doors to your tasty franchise. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. The concept for an East Coast sub restaurant came to Jeff Osterfeld soon after he graduated from Miami University in Oxford, Ohio. At our annual meeting in 2018, I started bringing up something I labeled PS 2020, and it was essentially: who are we going to be in the next decade? 2007 mazda 3 hatchback engine / matlab 2d array indexing / jeff osterfeld net worth 10 weeks after broken fibula hair salon - birmingham, mi man on stilts instrumental Jeff took his innovative ideas on quick service dining to downtown Cincinnati where he opened his first Penn Station Restaurant in 1985. Demolition Wwf Theme, How To Make A Winter Hanging Basket, And then wham! Ranked #2 in Philly Cheesesteak Sandwiches in 2022. Good ideas often come at the least expected times. And we dont burn through a lot of franchisees. The warmth he has for his community is common among many people who live around mountain lakes in the Southern Appalachians. Find contact's direct phone number, email address, work history, and more. See our current Franchise Disclosure Document, Item 7. Its essentially a distribution system, he says. I liked the idea and thought about it.. This means that we are not perceived as just a delicious lunch option, customers also consider Penn Station as a dinner experience as well. Staff relationships are no different. #2 Forbes 400 2021. At Bimbo Bakehouse, we encourage a collaborative relationship with Penn Station East Coast Subs. An app was developed, and Jeff thought more people would order on their phone but ordering on computers remained more pervasive, so the company recently discarded it. CONTACT US: 330-896-9900. Were poised for growth. box-shadow: none !important; There is a chance I'd do this again sometime. He began selling a version of the cheesesteak sandwich at his own restaurant, and it instantly became a huge hit. Penn Station East Coast Subs seeks to expand to new locations with experienced multi-unit franchisees. Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company. Here's how franchisees can tap into consumer behaviors using strategic messaging and offers that speak to clients wants and needs. View FREE Public Profile & Reputation for Sheri Osterfeld in Batavia, OH - See Court Records | Photos | Address, Emails & Phone Numbers | Personal Review | $250K+ Income & Net Worth Youll see our 314 outlets hopefully grow to 600 in short order over the next couple of years. fbq('track', 'PageView'); Jeff and Sheri Osterfeld have been coming to their rock and copper house for nearly four years and love it more than ever. Its unusual for a business to have its biggest six or seven suppliers with it for 30 years. The original menu had four sandwiches and featured the grilled cheesesteak, fresh-cut french fries and hand-squeezed lemonade, with the order prepared directly in front of the customers using the freshest ingredients available. Unlike many other brands, Penn Stations comprehensive, award-winning franchisee training program is completed in just four weeks. Often, the changes are enormous. About Us - The Golf Club at Stonelick Hills. We strive to offer our franchisees a best-in-class support system, including: Site Selection, Restaurant Design & Construction support, IT & Online Ordering, Operations & Training, Marketing, and Financial Reporting. Osterfeld said Stonelick was designed and built with a focus on the golf environment and atmosphere. Penn Station East Coast Subs began in Cincinnati, Ohio with founder Jeff Osterfeld. Osterfeld is the founder and CEO of Penn Station East Coast Subs. Its pretty much the way my brain works and the way I see the world. .tenned{float:right;margin-bottom:-876px;opacity:0.03}, GET UPDATE ON: And, frankly, our food is much better served right away than it is as carryout, so Im eager to get some of our seating opened up again.. And whats not to love? So I ended up franchising. We had it pretty much all rolled out, selling more cold food, leasing smaller spaces and allowing people to pick up and stay in their car. Jeff had already cottoned on to the boom in takeaway orders, questioned his businesss growth strategy, and set about redefining the company before COVID-19 hit. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee. I agree with how this article portrays the culture of PS! 59. As you decide if opening a Penn Station East Coast Subs franchise is for you, make sure you take time to explore the opportunity. Kevin Osterfeld, brother of Penn Station founder and owner Jeff Osterfeld, sold P.S. If the agent is satisfied, Penn Station East Coast Subs may provide you with a proper franchise application that they expect to be completed within a stipulated time. Weve learned a lot from their team. Heres what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business. 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. Stonelick has Osterfeld's personal touch. Executive Summary. I knew this was coming and that we needed to repurpose the kitchen. Were being aggressive right now. 'https://connect.facebook.net/en_US/fbevents.js'); This sandwich became an instant hit with customers. Home of the Bill Cunningham show, Mike McConnell, Scott Sloan, Eddie & Rocky, Lance McAlister, and flagship station of the Cincinnati Reds! Touring 700WLW's Historic Transmitter and Mammoth Tower, [WIN TICKETS] Skid Row/Buckcherry @ Rose Music Center, [WIN TICKETS] Dead & Company @ Riverbend Music Center, [WIN TICKETS] James Taylor @ Riverbend Music Center, [WIN TICKETS] Hank Williams Jr. @ Riverbend Music Center, Do Not Sell or Share My Personal Information. $116.7 B. Check BackgroundGet Contact InfoThis Is Me - Edit Reputation & Background View All 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. His first eatery opened in 1983 inside the Dayton Mall food court. 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'; 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. Net Worth: $500,000: Franchise Fee: $25,000 : Royalty Fee: . In fact, Penn Station restaurants enjoy a unique position within the sandwich categorysystemwide, our lunch and dinner dayparts are nearly evenly divided! Specifically, Jeff has a macro-vision for the future and success of the company, not only for the upcoming year but also 5-10 plus years down the road. Catch up on the latest franchise news, trends, and more. Spain Zip Code List, The strong cultures, focused on integrity, quality and the customer are the key to this inspired partnership. Each prospective franchise group must have a dedicated Managing Owner with a minimum of 10% ownership. Amazon founder Jeff Bezos is the world's wealthiest person, according to the latest Bloomberg Billionaires Index, with a net worth of $182 billion. Virtual Reality Rooms Near Me, As a franchisee, you're part of a network covering locations including Ohio, Illinois, Indiana, Georgia, Kansas, and more. fbq('init', '515347278668671'); He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. } Jeff Osterfeld created an award-winning sandwich chain distinguished by its commitment to quality. Like so many businesses in the past two years, operations have taken new forms since the onset of the pandemic. 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. Book Of Common Prayer App, We got lucky in this regard, and its really a coincidence, he admits. Where Can I Buy Sunpatiens Seeds, Penn Station East Coast Subs has been ranked in Entrepreneurs Franchise 500 many times in the past several decades. Penn Station had to rapidly change its modus operandi, adapting to many more takeaway orders instead of eating in. Theres not a lot of turnover in our restaurants compared with others. View Jeff Osterfeld's business profile as Founder & Chief Executive Officer at Penn Station. Four others also have fortunes over $100. Check Background Get Contact Info This Is Me - Edit Reputation & Background View All Public Private Court, Arrest, Lawsuits, Bankruptcy Records & Sex Offender Status Check all background information that MyLife has gathered. Our franchisees dont abuse suppliers, and our suppliers know that. This strategy proved successful. Kansans For Fair Courts. width: 1em !important; I have a product. Get hyperlocal forecasts, radar and weather alerts. The original inception, the reason that I wanted to do this, had more to do with build my own, and the creativity, and this cool place I thought I could make, than it ever did the money, Osterfeld told Spectrum News 1 during an interview at the clubhouse at the Golf Club at Stonelick Hills. Click Here. We got lucky in this regard, and its really a coincidence, he admits. However, this first restaurant also offered fresh-cut french fries and freshly squeezed lemonade, two items that would become trademarks for Penn Station in the future. Do You Have Enough Capital to Fund a Franchise? Minnesota File No. We have a great product, so Im confident that people will come back in bigger and better numbers. We pride ourselves on our operational focus and simplicity. We take a lot of our proceeds, any kind of positive cash flow we have, and pump it back into the course. Net Worth: $500,000: Franchise Fee: $25,000 : Royalty Fee: Royalty: 2%-8% (varies by sales volume) Advertising Fee: 2%: . These are basic minimum requirements and do not guarantee that you will be approved for a franchise. With enough money from his sandwich business he set out to design and build his own. 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. Learn More. img.emoji { Cash created by operations will be used to improve the course and fully amenitize the clubhouse and the surrounding property. Curious to know where Penn Station East Coast Subs ranked on other franchise lists? Compare where Penn Station East Coast Subs landed on this years Franchise 500 Ranking versus previous years. Its why many people like Miller choose to live there. Our award-winning food is what sets us apart from all other sandwich chains and we believe our customers can taste the difference. Heres what you need to know if youre interested in opening a Penn Station East Coast Subs franchise. Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company. Staff relationships are no different. t.src=v;s=b.getElementsByTagName(e)[0]; He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. But it was totally different when I hired somebody else to do it. " /> #1 Forbes 400 2022. Ge Profile Pvd28bynfs Review, We simply opened the door. He introduced the concept of preparing meals directly in front of the customers using only fresh ingredients. Its such an escape kind of place, Osterfeld says. Consequently, he maintains close relationships with team members in Penn Station, Inc. as well as valued vendor partners. 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