Milio’s Sandwiches Franchise FDD, Profits & Costs (2025)
Milio’s Sandwiches is a regional franchise rooted in the Midwest, recognized for its signature oven-baked bread and quick, welcoming counter service. The menu features freshly prepared subs, wraps, soups, salads, cookies, and a catering program that serves office lunches and group gatherings.
The brand was established in 1989, originally opening as Big Mike’s Super Subs on West Johnson Street near the University of Wisconsin–Madison. Over time, it rebranded as Milio’s Sandwiches and moved its headquarters to Fitchburg, Wisconsin, a short distance from Madison, where it continues to embrace its local heritage.
In 2020, Milio’s launched its franchise program and has since grown with both corporate-owned and franchise-operated restaurants across Wisconsin, Minnesota, and Iowa.
A defining element of Milio’s is its dedication to freshness and community connection. Bread is baked in-house every four hours, and its “Baking a Difference” initiative actively supports charitable causes and nonprofits in the regions it serves.
Initial Investment
How much does it cost to start a Milio’s Sandwiches franchise? It costs on average between $131,000 – $445,000 to start a Milio’s Sandwiches franchised restaurant.
This covers expenses such as construction, equipment, initial inventory, and startup operating costs. The total investment can vary based on factors like the restaurant’s format, the market and location, and whether the franchisee opts to lease or buy the property. Milio’s Sandwiches offers 2 types of franchises:
| Type of Expenditure | Amount |
|---|---|
| MILIO’S Restaurant – Convenience Store Location | $130,850 to $326,500 |
| MILIO’S Restaurant – Inline or Free-Standing Location | $219,100 to $445,000 |
We are summarizing below the main costs associated with opening a MILIO’S Restaurant – Inline or Free-Standing Location.
For more information on the various types of franchises and its costs, refer to the Franchise Disclosure Document (Item 7).
| Type of Expenditure | Amount |
|---|---|
| Initial Franchise Fee | $15,000 – $26,500 |
| Leasehold Improvements | $85,000 – $200,000 |
| Furniture, Fixtures and Equipment | $70,000 – $112,000 |
| Signage | $5,000 – $12,000 |
| Computer POS System (POS Register) | $3,500 – $6,000 |
| Rent | $2,000 – $7,500 |
| Lease & Utility Security Deposits | $0 – $10,000 |
| Initial Inventory | $5,000 – $7,000 |
| Insurance | $2,100 – $2,500 |
| Training | $7,500 – $9,500 |
| Grand Opening Advertising/Marketing | $2,500 – $5,000 |
| Branding Package | $2,500 – $4,000 |
| Office Equipment and Supplies | $1,000 – $3,000 |
| Professional Fees and Business Licenses and Permits | $5,000 – $10,000 |
| Additional Funds (3-month period) | $13,000 – $30,000 |
| Total | $219,100 – $445,000 |
Average Revenue (AUV)
How much revenue can you make with a Milio’s Sandwiches franchise? A Milio’s Sandwiches franchised locations makes on average $618,000 in revenue (AUV) per year.
Here is the extract from the Franchise Disclosure Document:
Download the Franchise Disclosure Document
Frequently Asked Questions
How many Milio’s Sandwiches locations are there?
As of the latest publicly available information, Milio’s Sandwiches operates 18 locations — a mix of company-owned and franchised units
What is the total investment required to open a Milio’s Sandwiches franchise?
The total investment required to open a Milio’s Sandwiches franchise ranges from $131,000 to $445,000.
What are the ongoing fees for a Milio’s Sandwiches franchise?
Franchisees of Milio’s Sandwiches are required to pay ongoing fees that include a royalty fee of 6% of gross sales as well as a marketing and advertising fee of 4% of gross revenue. These fees support the franchisor’s operations, brand development, and systemwide marketing initiatives, helping to maintain consistency and visibility across all locations.
What are the financial requirements to become a Milio’s Sandwiches franchisee?
To become a Milio’s Sandwiches franchisee, you must have at least $100,000 in liquid capital and a minimum net worth of $150,000.
How much can a Milio’s Sandwiches franchise owner expect to earn?
The average gross sales for a Milio’s Sandwiches franchise are approximately $0.62 million per location. Assuming a 15% operating profit margin, $0.62 million yearly revenue can result in $93,000 EBITDA annually.
Who owns Milio’s Sandwiches?
Milio’s Sandwiches franchise is owned by a group of private investors — Brian Bergen, Timm Heller, Todd Mancusi, Tony Mancusi, and Chris Gentilli took over as the chain’s new owners in October 2020.
Disclaimer
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