Sub Shop
The total investment to open a Sub Shop franchise ranges from $24,940 to $146,400. The initial franchise fee is $25,960.
What is the Sub Shop franchise?
Sub Shop is a restaurant franchise that sells submarine sandwiches to customers looking for a meal. The estimated total initial investment is $24,940 to $146,400, and the initial franchise fee is $25,960.
The company is headquartered in Seattle, Washington.
Loan Activity Score
40/100
SBA Default Rate
7.7%
Active Lenders
12
According to its Franchise Disclosure Document or public business records, Sub Shop has 12 locations, all owned by franchisees. Public SBA loan records show 12 lenders made 13 loans to franchisees of Sub Shop. PeerSense calculates Sub Shop's score as 40 out of 100, using public SBA loan performance and recent lending activity.
12 locations
$24,940 to $146,400
$25,960
12
12 franchised
Proprietary PeerSense metric
FairDistinct lenders in public SBA records for Sub Shop
13
Total SBA loans
$89K
Average loan size
Source: public SBA 7(a) and 504 loan records through December 31, 2025
Referral fee at closing
SBA Lending Activity for 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
7.7%
vs 10.3% peer avg
SBA Loans
13
Total Volume
$1.2M
Active Lenders
12
1 selective
States
8
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 Sub Shop based on SBA lending data
SBA Default Rate
7.7%
2.6% below peer avg
SBA Loan Volume
13 loans
Across 12 lenders
Lender Diversity
12 lenders
Avg 1.1 loans per lender
Investment Tier
Low cost entry
$24,940 to $146,400 total
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
2003
2 approvals. The best year on record for Sub Shop.
Top SBA State
Washington
3 SBA financed Sub Shop locations, the densest operator footprint.
Average Loan Size
$89K
Median $100K. Use as a sizing anchor when modeling your own Sub Shop unit.
Lender Concentration
30.8%
Moderately Spread
Share of Sub Shop approvals captured by the top 3 SBA lenders.
Sub Shop's SBA lending pipeline peaked in 2003 (2 approvals). Operator density is highest in Washington with 3 SBA financed locations. Average funded ticket sits at $89K, with the median at $100K. Lender mix is moderately spread: the top three SBA lenders account for 30.8% of approvals. Meaningful choice exists, but specific lenders carry the brand.
Payment Estimator
Estimated Monthly Payment
$258
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
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