Lenny's Sub Shop
The total investment to open a Lenny's Sub Shop franchise ranges from $72,000 to $310,500. The initial franchise fee is $72,000. Ongoing royalties are 6% plus a 2% advertising fee.
What is the Lenny's Sub Shop franchise?
Lenny's Sub Shop is a restaurant franchise that sells sandwiches to customers. The estimated total initial investment is $72,000 to $310,500, and the initial franchise fee equals the lower end of that range.
The royalty is 6 percent of sales, and the advertising or brand fund fee is 2 percent. The franchise agreement term is 10 years.
The brand was founded in 1998 and is headquartered in Tallahassee, FL.
Loan Activity Score
28/100
SBA Default Rate
14.3%
Active Lenders
17
According to its Franchise Disclosure Document or public business records, Lenny's Sub Shop has 17 locations, all owned by franchisees. Public SBA loan records show 17 lenders made 21 loans to franchisees of Lenny's Sub Shop. PeerSense calculates Lenny's Sub Shop's score as 28 out of 100, using public SBA loan performance and recent lending activity.
Franchising since 1998 · 17 locations
$72,000 to $310,500
$72,000
17
17 franchised
Proprietary PeerSense metric
LimitedDistinct lenders in public SBA records for Lenny's Sub Shop
21
Total SBA loans
$177K
Average loan size
Source: public SBA 7(a) and 504 loan records through December 31, 2025
Referral fee at closing
SBA Lending Activity for Lenny's Sub Shop
Loan Activity Score Breakdown
Growing (10 to 24 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
14.3%
vs 10.3% peer avg
SBA Loans
21
Total Volume
$3.7M
Active Lenders
17
2 selective
States
9
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 Lenny's Sub Shop based on SBA lending data
SBA Default Rate
14.3%
4.0% above peer avg
SBA Loan Volume
21 loans
Across 17 lenders
Lender Diversity
17 lenders
Avg 1.2 loans per lender
Investment Tier
Mid range investment
$72,000 to $310,500 total
Lenny's Sub Shop: 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
2015
6 approvals. The best year on record for Lenny's Sub Shop.
Top SBA State
Texas
7 SBA financed Lenny's Sub Shop locations, the densest operator footprint.
Average Loan Size
$193K
Median $229K. Use as a sizing anchor when modeling your own Lenny's Sub Shop unit.
Lender Concentration
37.1%
Moderately Spread
Share of Lenny's Sub Shop approvals captured by the top 3 SBA lenders.
Lenny's Sub Shop's SBA lending pipeline peaked in 2015 (6 approvals). Operator density is highest in Texas with 7 SBA financed locations. Average funded ticket sits at $193K, with the median at $229K. Lender mix is moderately spread: the top three SBA lenders account for 37.1% of approvals. Meaningful choice exists, but specific lenders carry the brand.
Payment Estimator
Estimated Monthly Payment
$745
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
Lenny's Sub Shop, unit breakdown
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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