2026 FDD Item 19, p. 69 Checked Nov 2, 2026
Penn Station East Coast Subs Franchise Revenue and EBITDA (2026 FDD)
In Item 19 of its 2026 Franchise Disclosure Document, Penn Station East Coast Subs reports annual Average Net Sales, franchised Restaurants open all of 2025 of $819,903 (2025 calendar year, 317 franchised Restaurants open all of 2025; 138 (43.53%) attained or surpassed the average). The figures below are selected disclosures, not a substitute for reading the full Item 19.
Startup cost: a Penn Station East Coast Subs franchise costs an estimated $440,600 – $819,700 to open (Item 7). See the full Penn Station East Coast Subs franchise cost breakdown.
Does Penn Station East Coast Subs’s Item 19 show profit or owner pay?
Partly. Besides sales, Penn Station East Coast Subs’s Item 19 reports “Annual Average EBITDA, franchised Restaurants open all of 2025” and “Annual Median EBITDA, franchised Restaurants open all of 2025”. Each figure follows the franchisor’s own definition in Item 19, which decides which costs are deducted and whether an owner’s salary is one of them. None of them is necessarily an owner’s take-home pay.
What Penn Station East Coast Subs discloses (Item 19)
Source: Penn Station East Coast Subs 2026 FDD, Item 19, PDF p. 69.
| Figure | Value | Period | Based on |
|---|---|---|---|
| Annual Average Net Sales, franchised Restaurants open all of 2025 | $819,903 | 2025 calendar year | 317 franchised Restaurants open all of 2025; 138 (43.53%) attained or surpassed the average (Item 19, PDF p. 72) |
| Annual Average EBITDA, franchised Restaurants open all of 2025 | $101,722 | 2025 calendar year | 317 franchised Restaurants; after controllable costs, overhead (including royalty and rent) and general manager pay; 137 (43.22%) attained or surpassed the average (Item 19, PDF p. 72) |
| Annual Median EBITDA, franchised Restaurants open all of 2025 | $81,181 | 2025 calendar year | 317 franchised Restaurants (Item 19, PDF p. 72) |
Item 19 sample and definitions
Item 19 (PDF pages 69-73) reports 2025 net sales, line-item costs, operating income and EBITDA for 317 franchised restaurants and separately for one company-owned restaurant; 4 restaurants that opened in 2025 are excluded. Net sales ranged from $273,520 to $1,882,862, and EBITDA from a loss of $83,083 to $486,408. The median net sales is printed as "779,0314", which is not a valid figure, so this record does not use it.
How to interpret Penn Station East Coast Subs’s Item 19 figures and sample limits · What Item 19 does and does not show about owner pay.
Item 6 sets each restaurant's monthly royalty by that month's Net sales, from 2% below $30,000 to 8% above $55,000, with abatements for new and transferred restaurants. A single annual sales figure cannot show monthly sales levels, so this record does not produce an annual fee estimate or payback preset. Reported sales are not owner income.
Scope of these figures: The selected Penn Station East Coast Subs disclosures above retain their recorded periods and samples. The lead figure covers 317 franchised Restaurants open all of 2025; 138 (43.53%) attained or surpassed the average. They do not establish take-home owner income or the results of a new outlet. Read the linked Item 19 for the franchisor's definitions and exclusions.
Full Penn Station East Coast Subs franchise cost breakdown · Payback calculator (enter your own assumptions)
Sources
Penn Station, Inc. Franchise Disclosure Document, issued April 20, 2026, as amended September 4, 2026, as filed with the Minnesota Commerce (CARDS). Read the source FDD PDF. How to get this FDD yourself.
- Item 5: cited PDF p. 12
- Item 6: cited PDF p. 15
- Item 7: cited PDF p. 22
- Item 19: cited PDF p. 69
- Item 20: cited PDF p. 83
- Agreement term (Item 17): cited PDF p. 58
Page references for Penn Station East Coast Subs use the PDF viewer's digital page count, not printed page headers. Some viewers download the document instead of opening the referenced page.
If the state document viewer does not open, use Minnesota Commerce's public filing instructions to look up the filing by franchisor name and document date.
Document & verification changelog
- November 2, 2026: Source check completed against the recorded FDD.
- November 2, 2026: Initial cost profile published from the 2026 Franchise Disclosure Document (issued April 20, 2026).
- November 2, 2026: Independently checked against the April 20, 2026 Minnesota Clean FDD, as amended September 4, 2026: cover, Items 1, 5, 6, 7, 11, 17, 19 and 20. Recorded the amendment date. Item 6 now lists all 16 rows (the draft had 7) and records the sales-banded royalty. Item 19 now adds EBITDA and drops a median net sales figure printed in an invalid form. Added the opening time, renewal terms and Item 20 notes. Rewrote the analysis.
- September 4, 2026: Amendment date recorded for the source FDD.