Website. Jeff Osterfeld is the Founder & CEO of Penn Station East Coast Subs and the Designer & Owner of The Golf Club at Stonelick Hills which is rated the #1 public golf course in Ohio. View Jeff Osterfeld's business profile as Founder & Chief Executive Officer at Penn Station. Executive Summary. Its unusual for a business to have its biggest six or seven suppliers with it for 30 years. Jeff and Sheri Osterfeld have been coming to their rock and copper house for nearly four years and love it more than ever. 1. He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. Our menu features an array of mouth watering Grilled Penn Station submarine sandwiches, fresh-cut fries and hand-squeezed lemonade. Conveying high worth to the customers 2. Definition: The length of time your franchise agreement will last. Penn Station East Coast Subs was founded by Jeff Osterfeld, a former co-operator of a deli in Dayton, Ohio. As you decide if opening a Penn Station East Coast Subs franchise is for you, make sure you take time to explore the opportunity. It was here that the roots of the "ownership mentality" began to form for the founder and Chief Executive Officer of Penn Station, Inc. Jeff saw first-hand the impact his presence in the store had on product quality, customer service and sales. Jeff Osterfeld opened his first restaurant in the Dayton Mall in 1983 The first Penn Station opened in downtown Cincinnati in 1985 Osterfeld's The Golf Club at Stonelick Hills opened in 2004 Osterfeld is the founder and CEO of Penn Station East Coast Subs. Clever people make their own luck. Penn Station East Coast Subs has been ranked in Entrepreneurs Franchise 500 many times in the past several decades. 59. Get free regional quick guides and travel brochures; info on retail, dining and attractions; moving information; details on upcoming events and festivals and more! Clinical Anatomy Of Knee Joint Ppt, Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company. To be considered as a potential franchise operator, you typically need to have the following qualifications: Some experience with running a business (preferably a franchise), A sound business strategy that aligns with Penn Station's goals and objectives. We also had to adopt some of the technologies that allow us to deal with the carryout world electronically, and otherwise experiment with kiosks and the like that would allow us to serve so much carryout. The original inception, the reason that I wanted to do this, had more to do with build my own, and the creativity, and this cool place I thought I could make, than it ever did the money, Osterfeld told Spectrum News 1 during an interview at the clubhouse at the Golf Club at Stonelick Hills. Transparent Oval Png, I liked the idea and thought about it.. . From his office upstairs, Osterfeld can run the 277 Penn Station East Coast Subs restaurants that his business owns. Just three short years later, he sold his first Penn Station franchise and he remains actively involved in the business. He comes from a family of self-employed people his brothers are also self-employed after their father set an example so it seemed quite natural to him. That sets the tone for the day, he says. Taking into account various assets, Jeffrey's net worth is greater than $499,999; and makes between $250K+ a year. Weve kept one company unit that we train in here in Cincinnati, and we have 314 outlets today. Definition: The initial fee paid to a franchisor to join their system. And we dont burn through a lot of franchisees. Sounds pretty logical. A pragmatist if you will. On Forbes Lists. I knew this was coming and that we needed to repurpose the kitchen. Not necessarily! Definition: A ongoing fee paid to the franchisor on a regular basis. About 2,000. .pw_map_canvas img { {"@context":"https://schema.org","@graph":[{"@type":"WebSite","@id":"https://designconstruction.net/#website","url":"https://designconstruction.net/","name":"","publisher":{"@id":"https://designconstruction.net/#organization"},"potentialAction":{"@type":"SearchAction","target":"https://designconstruction.net/?s={search_term_string}","query-input":"required name=search_term_string"}},{"@type":"WebPage","@id":"https://designconstruction.net/2djnsfvg/#webpage","url":"https://designconstruction.net/2djnsfvg/","inLanguage":"en-US","name":"jeff osterfeld net worth","isPartOf":{"@id":"https://designconstruction.net/#website"},"datePublished":"2020-12-29T02:41:25+00:00","dateModified":"2020-12-29T02:41:25+00:00"},{"@type":"Article","@id":"https://designconstruction.net/2djnsfvg/#article","isPartOf":{"@id":"https://designconstruction.net/2djnsfvg/#webpage"},"author":{"@id":"https://designconstruction.net/author/#author","name":""},"publisher":{"@id":"https://designconstruction.net/#organization"},"headline":"jeff osterfeld net worth","datePublished":"2020-12-29T02:41:25+00:00","dateModified":"2020-12-29T02:41:25+00:00","commentCount":0,"mainEntityOfPage":"https://designconstruction.net/2djnsfvg/#webpage","articleSection":""}]} That can only happen in comfortable, safe surrounds for those involved. And then wham! However, this first restaurant also offered fresh-cut french fries and freshly squeezed lemonade, two items that would become trademarks for Penn Station in the future. Clinical Anatomy Of Knee Joint Ppt, You'll typically then be invited to a meeting at Penn Station East Coast Subs headquarters in Milford, Ohio. In fact, even though Penn Station East Coast Subs opened up shop in 1985, founder Jeff Osterfeld had . I learned about cheesesteak in Philadelphia, and added that to the menu. Ive had employees the Vice President of Construction and Director of Administration for roughly 30 years.. Penn Station had to rapidly change its modus operandi, adapting to many more takeaway orders instead of eating in. Like so many businesses in the past two years, operations have taken new forms since the onset of the pandemic. !function(a,b,c){function d(a,b){var c=String.fromCharCode;l.clearRect(0,0,k.width,k.height),l.fillText(c.apply(this,a),0,0);var d=k.toDataURL();l.clearRect(0,0,k.width,k.height),l.fillText(c.apply(this,b),0,0);var e=k.toDataURL();return d===e}function e(a){var b;if(!l||!l.fillText)return!1;switch(l.textBaseline="top",l.font="600 32px Arial",a){case"flag":return! The largest local franchisee of Cincinnati-based sub shop Penn Station has sold his company. In the end, ultimately, its about that. Catch up on the latest franchise news, trends, and more. He introduced the concept of preparing meals directly in front of the customers using only fresh ingredients. He eventually expanded to Cincinnati, where he opened his first Penn Station restaurant in 1985. What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. $0. Originally, only four sandwiches were available, including the cheese steak. img.emoji { . Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. This ranking is based on an evaluation of more than 150 data points, including costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability. Jeff had already cottoned on to the boom in takeaway orders, questioned his businesss growth strategy, and set about redefining the company before COVID-19 hit. Jeff Osterfeld, Founder and CEO of Penn Station, Inc., has created an original, award-winning sandwich shop that is distinctive in taste and high in quality. He and his wife found the lake about 10 years ago on their way home to Cincinnati from Georgia. Its why many people like Miller choose to live there. The house is beautifully landscaped, with heavy rocks serving as steps down to the water. My staff and I welcome you to The Golf Club at Stonelick Hills. I found that when I ran one of the stores, it was clean and the food was made right. Founder & CEO, Penn Station East Coast Subs. Decentralization got that ownership mentality behind the counter what I needed was people behind the counter who loved it, loved the food and treated it like I did. Youll see our 314 outlets hopefully grow to 600 in short order over the next couple of years. CONTACT US: 330-896-9900, GET UPDATE ON: This company is offering new franchisees in the following US states: Alabama, Arkansas, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, North Carolina, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, Wisconsin, West Virginia. Were up double digits since COVID-19 started. Research the brand and your local area to see if a Penn Station East Coast Subs franchise would do well in your community. But when I hear people say theyve been trying to get down here for weeks, I dont take it for granted anymore. Assets include cash, stocks, retirement accounts, and real estate. This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. We got lucky in this regard, and its really a coincidence, he admits. Standing low to the ground on a point jutting out into Lake Jocassee is the welcoming home and respite of a busy businessman and his wife. Science Diet Sensitive Stomach, Where Can I Buy Sunpatiens Seeds, Discover More: Tracy Vilar Bio: Hus And then wham! The Success of the $20 Billion Sandwich Industry. In the process, his fortune has increased by 12,425%up by $196 billion since 1998, when he first appeared on The Forbes 400 list of richest Americans with a net worth of $1.6 billion. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. The family loves getting away to the lake home. Its essentially a distribution system, he says. View FREE Public Profile & Reputation for Sheri Osterfeld in Batavia, OH - See Court Records | Photos | Address, Emails & Phone Numbers | Personal Review | $250K+ Income & Net Worth We had it pretty much all rolled out, selling more cold food, leasing smaller spaces and allowing people to pick up and stay in their car. t.src=v;s=b.getElementsByTagName(e)[0]; Spain Zip Code List, Its stone completely, and when I say completely, I mean completely. The stone came from a luxury development in Asheville that never got off the ground. Where Can I Buy Sunpatiens Seeds, Jake Osterfeld, Jeffrey Osterfeld, Sheri Osterfeld, Rachel Osterfeldand Corie Osterfeld, and many others are family members and associates of Andrea. Jeff took his innovative ideas on quick service dining to downtown Cincinnati where he opened his first Penn Station Restaurant in 1985. An app was developed, and Jeff thought more people would order on their phone but ordering on computers remained more pervasive, so the company recently discarded it. Check Background Get Contact Info This Is Me - Edit Reputation & Background View All Public Private Court, Arrest, Lawsuits, Bankruptcy Records & Sex Offender Status Check all background information that MyLife has gathered. border: none !important; I agree with how this article portrays the culture of PS! We currently own and operate one company owned restaurant located in Cincinnati, OH. Its pretty much the way my brain works and the way I see the world. It was in my blood, he tells The CEO Magazine. #2 Forbes 400 2021. #1 Billionaires 2022. .tenned{float:right;margin-bottom:-876px;opacity:0.03}, GET UPDATE ON: Jeff Osterfeld created an award-winning sandwich chain distinguished by its commitment to quality. All golfers from every set of tees will appreciate the uniqueness of each hole and feel individually challenged by the variety of shots necessary to complete such a strategic layout. This means that we are not perceived as just a delicious lunch option, customers also consider Penn Station as a dinner experience as well. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses. We pride ourselves on our operational focus and simplicity. This sandwich became an instant hit with customers. Its a bit of walk a mile in my shoes, he points out. It makes me glad to be right where Im at.. Previous to Jeffrey's current city of Batavia, OH, Jeffrey Osterfeld lived in Eatonton GA, Anderson Township OH and Cincinnati OH. The strong cultures, focused on integrity, quality and the customer are the key to this inspired partnership. A walkway leads to the arched metal bridge spanning the water to the dock. The dock, covered to keep the weather off the boat, gets plenty of use come swim time. Lake Jocassee has about 75 miles of shoreline but only three dozen houses. Good ideas often come at the least expected times. Stonelick Hills will always be different, you have my word. Amazon filings, Forbes's America's Top Givers 2022, Bezos' net worth at end of . An appetite for success and a readiness to adapt have set Penn Station East Coast Subs and its franchisees on a course for rapid growth in a post-COVID business environment, says Founder and CEO Jeff Osterfeld. Our content creates conversations, our voice is the one that matters. Kansans For Fair Courts. So we went that way, and weve been growing ever since. We simply opened the door. In December 2012, National Geographic magazine named Jocassee Gorges one of the 50 last great places in the world, noting that the gorges have one of the highest concentrations of waterfalls in the eastern United States. We are well on our way! Certain jurisdictions require registration prior to the offer or sale of a franchise. In 1983, he opened "Jeffrey's Delicatessen" at the Dayton Mall in Dayton, Ohio. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee. During high school and college I had a painting business, so an entrepreneurial bent was pervasive. penn-station .com. COVID-19 threw up problems in Jeffs supplier network too and, like everybody else, he had to adapt order delivery processes, which precipitated significant changes. The ultimate goal is to have the finest public course in the state with a relatively small, select membership. Check BackgroundGet Contact InfoThis Is Me - Edit Reputation & Background View All Here's how franchisees can tap into consumer behaviors using strategic messaging and offers that speak to clients wants and needs. So I ended up franchising. We got lucky in this regard, and its really a coincidence, he admits. Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse. Virtual Reality Rooms Near Me, I can either do company-owned units and try to motivate the staff to treat it like I do, or I can take a smaller piece of sales, and let other people leverage their own capital and open up units, pouring their heart and soul into it the way I did when I was in my 20s. Stonelick has Osterfeld's personal touch. His first eatery opened in 1983 inside the Dayton Mall food court. We also had to adopt some of the technologies that allow us to deal with the carryout world electronically, and otherwise experiment with kiosks and the like that would allow us to serve so much carryout. In the end, ultimately, its about that. . And we dont burn through a lot of franchisees. December 12, 2022 by discord server boost vs nitro by discord server boost vs nitro The golf course isn't really for profit, but rather a hobby. Its not just the idea, though, but the readiness to act on it when its fresh and new that turns it into a success story.Jeff Osterfeld, Founder and CEO of Penn Station East Coast Subs, is a prime example of someone who saw the flash in his mind and jumped on it. Providing distinctively delicious, baked goods is our bread and butter thats why were proud to partner with them to serve desirable sandwiches that keep their patrons coming back. Jennifer Sherwood, Food Service National Account Sales, Grupo Bimbo, Penn Station East Coast Subs and Hormel Foods relationship goes back over 20 years. Jeffs journey began with the deli he opened right after college in 1985 in Dayton, Ohio. I knew this was coming and that we needed to repurpose the kitchen. So its a partnership, and I believe weve put our money where our mouth is in that regard. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee. In the past, that was never the case. Its what you work hard for, why you do what you do. Many mornings, Miller watches a pair of otters cruise by the marina. How To Use Bass Lures, , trends, and weve been growing ever since made right jurisdictions require registration prior to the Club! Brand and your local area to see if a Penn Station love it more ever... High school and college I had a painting business, so an entrepreneurial was. 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