September 16, 2015 // Franchising.com // MILFORD, OHIO - Penn Station East Coast Subs is celebrating 30 years in business this year. Founded by Jeff Osterfeld in 1985, Penn Station is known for its grilled, made-to-order sub sandwiches, hand-squeezed lemonade and fresh-cut fries. The company has grown to almost 300 restaurants in the last 30 years.
“30 years is an incredible accomplishment for any business, but especially a business in the restaurant industry,” Penn Station president Craig Dunaway said. “We’re thrilled to continue on the path of growth we’ve been on for the last 30 years by opening more restaurants in new and existing markets and maintaining our focus on industry-leading return on investment and profitability. Jeff created the model for success in 1985, and our franchisees will continue building on it for the next 30 years.”
Penn Station offers a better-than 99.9 percent success rate, with only two store closings in the last 30 years. Last year’s systemwide sales were up more than 8 percent over 2013. So far this year, Penn Station’s comparative sales are up almost 9 percent over 2014.
“When I became the president of Penn Station in 1999 we had only 63 stores,” Dunaway said. “Our conservative growth method – focused on opening one successful store and then another and so on instead of trying to open as many as possible without regard for those that never make it – has proven effective. We’re also implementing some exciting brand updates this year that will help propel us forward in the next 30 years.”
This year’s brand updates include a new logo, which was unveiled in March, and a new restaurant design, which will debut this fall. In addition to commemorating its 30th anniversary this year, Penn Station was named the best sandwich brand by the 2015 Nation’s Restaurant News’ Consumer Picks survey.
Penn Station’s 296 restaurants are celebrating the brand’s 30th anniversary throughout September by offering the Founder’s Special, which is Osterfeld’s special version of Penn Station’s signature Philadelphia cheesesteak sub sandwich. The Founder’s Special is the traditional cheesesteak sandwich with extra cheese and a squirt of teriyaki sauce.
Founded in Cincinnati, Ohio in 1985, Penn Station serves a variety of grilled and cold deli sandwiches made to order with high-quality ingredients on freshly baked bread. The menu also includes hand-cut fries, hand-squeezed lemonade made throughout the day and chocolate chunk cookies baked in the restaurant. Penn Station was named the best sandwich chain in the Nation’s Restaurant News 2015 Consumer Picks survey.
Penn Station has more than 295 locations in 15 states including Ohio, Georgia, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia. All but one location is franchised, and Penn Station has a better-than 99.9 percent success rate with only two store closings over the last 30 years. As a franchisor, Penn Station is known for its outstanding profitability and return on investment.
Projections call for the opening of 30 restaurants nationwide in 2015. Franchise opportunities are available in Kansas City, Richmond, Virginia, Chicago, Detroit, Nashville, Tennessee and North and South Carolina, as well as a number of other existing markets. For more information, visit www.penn-station.com.
SOURCE Penn Station East Coast Subs