Cousins Submarines (Restaurant
The total investment to open a Cousins Submarines (Restaurant franchise ranges from $60,000 to $300,000. The initial franchise fee is $60,000. Ongoing royalties are 5%.
What is the Cousins Submarines (Restaurant franchise?
Cousins Submarines (Restaurant is a restaurant that sells submarine sandwiches to customers. Estimated total initial investment is $60,000 to $300,000, and the initial franchise fee equals the lower end of that range.
The royalty is 5 percent of sales. The brand is headquartered in Milwaukee, Wisconsin, and began franchising in 1960.
Loan Activity Score
22/100
SBA Default Rate
23.1%
Active Lenders
31
According to its Franchise Disclosure Document or public business records, Cousins Submarines (Restaurant has 80 locations, all owned by franchisees. Public SBA loan records show 31 lenders made 121 loans to franchisees of Cousins Submarines (Restaurant. PeerSense calculates Cousins Submarines (Restaurant's score as 22 out of 100, using public SBA loan performance and recent lending activity.
80 locations
$60,000 to $300,000
$60,000
80
80 franchised
Proprietary PeerSense metric
LimitedDistinct lenders in public SBA records for Cousins Submarines (Restaurant
121
Total SBA loans
$176K
Average loan size
Source: public SBA 7(a) and 504 loan records through December 31, 2025
Referral fee at closing
SBA Lending Activity for Cousins Submarines (Restaurant
Loan Activity Score Breakdown
Major Brand (100+ loans)
Are lenders increasingly or decreasingly funding this brand? Growing trends score highest.
Blended default rate (recent + all time) compared to NAICS sector peers.
Quality lenders actively backing this brand, with penalty for lender pullback.
FDD availability, Item 19 disclosure, and overall data completeness.
Geographic spread of SBA funded locations across states.
SBA Lending Performance
SBA Default Rate
23.1%
vs 10.3% peer avg
SBA Loans
121
Total Volume
$21.4M
Active Lenders
31
8 selective
States
11
vs. SBA Sector Average
SBA loan default rate vs. all franchises in the same NAICS sector, not limited to direct competitors
Key Highlights
Franchise Financing Resources
Data Insights
Key performance metrics for Cousins Submarines (Restaurant based on SBA lending data
SBA Default Rate
23.1%
12.8% above peer avg
SBA Loan Volume
121 loans
Across 31 lenders
Lender Diversity
31 lenders
Avg 3.9 loans per lender
Investment Tier
Mid range investment
$60,000 to $300,000 total
Cousins Submarines (Restaurant: Deep SBA Data
Brand specific metrics derived directly from SBA 7(a) approval records: peak lending year, leading state, average loan size, and lender concentration. PeerSense computes these per brand so capital advisors and prospective franchisees can benchmark this opportunity against the rest of the franchise universe.
Peak SBA Year
2008
14 approvals. The best year on record for Cousins Submarines (Restaurant.
Top SBA State
Wisconsin
69 SBA financed Cousins Submarines (Restaurant locations, the densest operator footprint.
Average Loan Size
$176K
Median $156K. Use as a sizing anchor when modeling your own Cousins Submarines (Restaurant unit.
Lender Concentration
50.4%
Concentrated
Share of Cousins Submarines (Restaurant approvals captured by the top 3 SBA lenders.
Cousins Submarines (Restaurant's SBA lending pipeline peaked in 2008 (14 approvals). Operator density is highest in Wisconsin with 69 SBA financed locations. Average funded ticket sits at $176K, with the median at $156K. Lender mix is concentrated: the top three SBA lenders account for 50.4% of approvals. Credit decisions concentrate with a small group of incumbents.
Payment Estimator
Estimated Monthly Payment
$621
Principal & Interest only
Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
Locations
Cousins Submarines (Restaurant, unit breakdown
Explore Funding for Cousins Submarines (Restaurant
Our business financing consultants help connect you with the right lending partners. Referral fee paid at closing.
Or get an instant analysis
Scan Your Deal InstantlyPage Review
Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense
- PeerSense is a capital advisory firm that places commercial financing with direct capital sources; it does not lend, fund, or approve loans, and the capital source sets final terms.
- Edward L. Freeman founded PeerSense in January 2020.
- He is a Registered Franchise Consultant with Business Alliance, Inc., a credential issued in March 2022, and worked as a franchise consultant there from March 2022 to May 2023.
- His recorded experience includes a $22 million SBA construction loan, with about $16 million funded on the deal.
- In the 12 months through September 30, 2026, PeerSense tracked 912 publicly announced financings with a disclosed size of $361.32 billion. PeerSense Capital Data Report · Methodology page
Last reviewed LinkedIn profileAbout Edward Freeman