Cousins Subs Franchise FDD, Profits & Costs
Cousins Subs is a family-owned, fast-casual sandwich franchise known for its focus on quality ingredients and strong community roots. Founded in 1972 by cousins Bill Specht and Jim Sheppard in Milwaukee, Wisconsin, the concept was inspired by the East Coast-style subs the founders missed after relocating to the Midwest.
The brand quickly gained popularity and established a reputation for hearty sandwiches made with fresh, local ingredients. Headquartered in Menomonee Falls, Wisconsin, Cousins Subs began franchising in 1985.
The menu features a variety of made-to-order cold and hot subs, fresh salads, soups, fries, shakes, and sides, all emphasizing high-quality meats, cheeses, and bread baked daily.
What differentiates Cousins Subs from other sandwich chains is its unwavering commitment to freshness and local sourcing, especially its use of Wisconsin cheese and meats. This dedication to regional pride and product quality allows the brand to stand out in a crowded marketplace while maintaining a loyal customer base.
Initial Investment
How much does it cost to start a Cousins Subs franchise? It costs on average between $465,000 – $1,165,000 to start a Cousins Subs franchised restaurant.
This includes expenses for construction, equipment, inventory, and initial operating costs. The total investment required can vary based on several factors, such as the size and format of the Cousins Subs restaurant, the geographic location, and whether the franchisee opts to lease or buy the property.
| Type of Expenditure | Amount |
|---|---|
| Initial Franchise Fee | $25,000 |
| Leasehold Improvements | $205,000 – $600,000 |
| Equipment and Small Wares | $135,000 – $190,000 |
| Seating Package / Millwork | $30,000 – $75,000 |
| Initial Inventory and Supplies | $6,000 – $18,000 |
| Point of Sale System / Technology | $10,000 – $30,000 |
| Architectural Fees | $9,000 – $52,000 |
| Rent | $3,000 – $15,000 |
| Lease and Utility Security Deposits | $0 – $15,000 |
| Insurance | $700 – $1,500 |
| Training | $2,500 – $15,000 |
| Store Marketing Fee | $10,000 |
| Lease Addendum Review Fee | $0 – $5,000 |
| Signage | $8,500 – $63,000 |
| Additional Funds – 3 months | $20,000 – $50,000 |
| TOTAL | $464,700 – $1,164,500 |
Cousins Subs Franchise Disclosure Document
Frequently Asked Questions
What funding options are available for a Cousins Subs franchise?
Most franchise buyers in Cousins Subss investment range finance their unit through an SBA 7(a) loan, with some multi-unit operators using SBA 504 loans. Buyers with rollable retirement funds sometimes use a ROBS structure. See SharpSheets financial model hub for guidance.
How long does it take to pay back a Cousins Subs franchise investment?
Payback periods typically run 3-7 years depending on investment level, location performance, and financing structure. Actual payback varies significantly by unit performance and debt service obligations.
Who owns Cousins Subs?
Cousins Subs is privately owned and led by CEO Christine Specht, daughter of co-founder Bill Specht. The company remains family-operated and maintains a mix of corporate-owned and franchised locations.
SharpSheets Editorial Team | sharpsheets.io | Last Updated: July 2026
Disclaimer
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Research Cousins Subs franchise data: For the full FDD cost breakdown, investment tables, and Item 19 disclosures, visit FranchisePayback.com → Cousins Subs FDD Review.
