Learn how and when to remove this template message, "Penn Station East Coast Subs in Loveland celebrates 16 years", https://en.wikipedia.org/w/index.php?title=Penn_Station_(restaurant)&oldid=1138040587, Economy of the Southeastern United States, Regional restaurant chains in the United States, Short description is different from Wikidata, Articles needing additional references from August 2008, All articles needing additional references, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 7 February 2023, at 18:31. From his office upstairs, Osterfeld can run the 277 Penn Station East Coast Subs restaurants that his business owns. There are a lot of things that people love about living on the lake and many of them start at sunrise, when the day dawns fresh and promising. Move a tee here, close a bunker, add up a bunker, plant some new trees, put in a new kind of grass, upgrade the driving range whatever the case may be. Jeff and Sheri Osterfeld have been coming to their rock and copper house for nearly four years and love it more than ever. When you live and work on the lake, there are a lot of times you dont stop to smell the roses, he says. He began selling franchises that year and restaurants soon opened in St. Louis, Louisville, and Nashville. Clever people make their own luck. Cincinnati's News Radio 700WLW! The average Penn Station East Coast Subs restaurant typically serves a signature menu of grilled and cold deli sandwiches made with high-quality ingredients on freshly baked bread. Closer to home, he loves his regulation-size shuffleboard court beside the house, not far from the dock. 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. We protect their interests within our franchise system. What you need to kn His first eatery opened in 1983 inside the Dayton Mall food court. 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. No previous. Years in 100: 15 Business: Restaurant franchisor Revenues 2019: $202 million Revenues 2018: $200.290873 million Rank in 2018: 61 2019 employees: 4500 Headquarters: Miami Township Website: www.penn . Our franchisees dont abuse suppliers, and our suppliers know that. Our Spectrum News app is the most convenient way to get the stories that matter to you. box-shadow: none !important; We are having to repurpose our kitchens because, suddenly, were making a couple of hundred sandwiches a day and so much of it is carryout, he shares. The house took two years to build. Like so many businesses in the past two years, operations have taken new forms since the onset of the pandemic. In Part I Jeff tells us about his background and the story of how he founded Penn Station. Excavated, the rock had been lying on top of the ground for centuries when the Osterfelds builder got hold of it. I had no idea what franchising was like many people in the 1980s, I had heard the word, but really didnt know what it meant.. With many attractive development territories available for multi-unit growth, there has never been a better time to become a Penn Station franchisee. Website. It is this devotion and discipline that sets Penn Station apart from the competition. 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. Get hyperlocal forecasts, radar and weather alerts. Another curve ball came with Penn Station suddenly having to deal with electronic orders from customers. We got lucky in this regard, and its really a coincidence, he admits. $171 B. After realizing he'd never make it to the professional ranks he became fascinated with golf course design. Details can be found in Item 12 of the FDD. In a tough competitive environment like fast food, maintaining long-term supply chains and staff is a demanding task, but Penn Station has a proud record of longstanding relationships in both. Transparent Oval Png, Uniqueness . img.wp-smiley, Based on our data team's research, Don Fox is the Penn Station East Coast Subs's CEO. Today, the Penn Station difference still begins with our signature premium products, grilled and baked to perfection to create the best tasting sandwich. Demolition Wwf Theme, Ive had eight or 10 employees who have been with me 2030 years, he says. fbq('track', 'PageView'); Fee Structure per Restaurant: 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. This is everything you need to know about funding a franchise. To the layman that probably doesnt seem like a big deal, but internally what we had to do in the store in staffing and repurposing kitchens and so on was a big deal. Although there are a few home sites, they will be adjacent to just two wooded holes and will be out of play, not in plain view of the golfer. 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. Find contact's direct phone number, email address, work history, and more. What you need to know: Net worth is the value of a person's assets minus liabilities. Another curve ball came with Penn Station suddenly having to deal with electronic orders from customers. $0. It's not just the idea, though, but the readiness to act on it when it's 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. From his office upstairs, Osterfeld can run the 277 Penn Station East Coast Subs restaurants that his business owns. Research the brand and your local area to see if a Penn Station East Coast Subs franchise would do well in your community. December 12, 2022 by discord server boost vs nitro by discord server boost vs nitro The dock, covered to keep the weather off the boat, gets plenty of use come swim time. That's the perfectionist in me looking at things I've done out there, said Osterfeld. Jeffs journey began with the deli he opened right after college in 1985 in Dayton, Ohio. Right? Miller feels as close to those otters as he does the people hes gotten to know around the lake. The restaurant menu also includes fresh-cut fries, hand-squeezed lemonade, and chocolate chunk cookies, all freshly made in front of the customers. But the perception of Penn Stations portability in consumers minds was such that business boomed. Learn More. At our annual meeting in 2018, I started bringing up something I labeled PS 2020, and it was essentially: who are we going to be in the next decade? Peter Cancro started working in the submarine The first restaurant was opened in 1985 by Jeff Osterfeld in Cincinnati, Ohio. " /> In 1985, Osterfeld used his expertise to bring his ideas to life by opening his first restaurant in Cincinnati, Ohio. Were being aggressive right now. Looking to buy an A-list franchise? This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. 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. Amazon founder Jeff Bezos is the world's wealthiest person, according to the latest Bloomberg Billionaires Index, with a net worth of $182 billion. Assets include cash, stocks, retirement accounts, and real estate. 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. Our franchisees dont abuse suppliers, and our suppliers know that. He introduced the concept of preparing meals directly in front of the customers using only fresh ingredients. Consequently, he maintains close relationships with team members in Penn Station, Inc. as well as valued vendor partners. By 1987, Osterfeld had opened several Penn Station restaurants in and around Cincinnati. Its essentially a distribution system, he says. padding: 0 !important; Spain Zip Code List, 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. COVID-19 hit, and the thing I was worried about jumped to 95 per cent.. Osterfeld said Stonelick was designed and built with a focus on the golf environment and atmosphere. Management to. Liabilities include items like mortgages, car payments, and credit card debt. Stonelick Hills will always be different, you have my word. He eventually expanded to Cincinnati, where he opened his first Penn Station restaurant in 1985. Its a bit of walk a mile in my shoes, he points out. We are well on our way! I learned about cheesesteak in Philadelphia, and added that to the menu. Conveying high worth to the customers 2. Fed by four rivers, including the national wild and scenic Horsepasture River, its one of the clearest lakes Osterfeld has ever seen. Penn Station East Coast Subs has been ranked in Entrepreneurs Franchise 500 many times in the past several decades. Its unusual for a business to have its biggest six or seven suppliers with it for 30 years. vertical-align: -0.1em !important; Thats a culture thing. Which Franchise Is Right for You? 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. Taking into account various assets, Andrea's net worth is greater than $499,999; and makes between $250K+ a year. } Supper conversation at the Osterfeld house in Lake Jocassee, S.C., includes the sounds of fish plopping into the water and geese flying overhead. We got lucky in this regard, and its really a coincidence, he admits. 50 Milford, OH 45150 Social Facebook, Twitter, LinkedIn Business Overview Franchising Since 1987 (36. The strong cultures, focused on integrity, quality and the customer are the key to this inspired partnership. 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. Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses. The wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire. 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