Who is Jimmy John Liautaud?
Jimmy John Liautaud is a well-known entrepreneur and philanthropist, most notably known for founding Jimmy John’s Gourmet Sandwiches, a popular sandwich restaurant chain. Born in January 1964, Liautaud opened his first sub shop in Charleston in 1983, just after graduating high school.
The Success of Jimmy John’s
Over the years, Liautaud has grown Jimmy John’s into a beloved brand with over 2,500 stores across the United States, making it one of the largest sandwich restaurant chains in the world. Liautaud’s vision and determination have played a significant role in the success of the company, and his legacy continues to inspire entrepreneurs around the world.
The Jimmy John’s Franchise Model
One of the most unique features of Jimmy John’s is its franchise model, where franchisees pay 6% of their sales in royalties and 4.5% in advertising fees as a franchise cost to Jimmy John’s Franchise. The initial investment to become a franchisee is around $350,000, of which $30,000 is an initial fee. The success of this model has allowed the company to grow rapidly and provide opportunities for entrepreneurs to start their own businesses.
Jimmy John’s Acquisition
In 2016, Liautaud sold a majority share in the company to Roark Capital, but he continued to own 35% of the company until 2019. That year, the Jimmy John’s chain was sold to Inspire Brands in a transaction valued at $3 billion, and Liautaud stepped down as chairman of the company.
Philanthropy and Controversy
Aside from his success in business, Liautaud is also a dedicated philanthropist. He has donated his time and money to various causes, including the Folds of Honor Foundation, dental clinics, schools, and community organizations. In 2016, the Liautaud Family Foundation was founded, which donated $200,000 to a nursery for families in crisis.
In addition to his philanthropy work, Liautaud is also an avid car collector. He owns seven Ferraris, including the rare LaFerrari, and drives with a license plate that reads “SUBDUDE”. However, Liautaud has also faced controversy, particularly in 2015 when photos of him posing with dead big game animals such as rhinoceros, leopards, and elephants surfaced on Twitter. Liautaud quickly explained that the photos were over 10 years old and that he had stopped hunting big African game.
Liautaud is a car collector who owns 7 Ferraris, including the rare LaFerrari. He drives with a license plate that reads “SUBDUDE”.
Overall, Jimmy John Liautaud’s story is one of hard work, determination, and success. His dedication to his craft and passion for giving back have made him a role model for entrepreneurs and philanthropists alike. With a net worth estimated at more than $1.7 billion, Liautaud’s legacy is sure to inspire generations to come.
Frequently Asked Questions FAQ
How much did Jimmy John sell for?
In 2016 he sold 65% of his company to Roark Capital, and in 2019 he sold all shares to Inspire Brands. The deal was valued at $3 billion.
Who owns Jimmy John’s now?
Jimmy John’s is now owned by Inspire Brands. Inspire Brands is a privately-held, multi-brand restaurant company that was founded in 2018 by Paul Brown. The company is headquartered in Atlanta, Georgia, and is focused on acquiring and growing successful restaurant brands. Inspire Brands is the parent company of several well-known restaurant chains, including Arby’s, Buffalo Wild Wings, Rusty Bucket Restaurant, Jimmy Johns, and Tavern.
Where does the owner of Jimmy John’s live?
Liautaud was born in Illinois. He owns a relatively modest house there. He also owns a house in Chicago. He and his wife Leslie also own a summer house in Key Largo, Florida.
Does Jimmy John Liautaud own a yacht?
Yes, he is the owner of the Feadship yacht ROCK.IT. The yacht is listed for sale, asking $65 million. He is rumored to be building a larger yacht.
How Much is Jimmy John Liautaud worth?
His net worth is estimated at $1.7 billion. He sold his company in 2019 for $3 billion, but he had already sold a large part of the shares in 2016.
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