COVID-19 Impact on Jimmy John's
Like many consumer industries, the quick service food industry was heavily
impacted by the COVID-19 pandemic, forcing many to adjust their core operational
practices and staffing/resource usage as large changes in income and costs
occurred briefly. Jimmy John’s locations experienced significant changes in financial
performance year over year. As one would expect, the peak COVID-19 lockdown
period in late March and April saw the worst of the financial shortcomings.
To dive deeper, we analyzed key financial data for 140 Jimmy John’s locations with
activity since January 1, 2019 through mid-September 2020. We looked at key
financial metrics such as Net Operating Income, Net Revenue, Cost of Goods, Payroll
and government relief funding.
The purpose of this review is to provide more granular average performance data
for Jimmy John’s locations January-September (referenced as P1-P9 2019 vs. 2020) and offers perspective on what franchise should consider going forward.
2019-2020 Year-Over-Year Comparison