History
The concept for an East Coast sub restaurant came to Jeff Osterfeld soon after he graduated from Miami University in Oxford, Ohio. In 1983, he opened "Jeffrey's Delicatessen" at Dayton Mall in Dayton, Ohio. It was during a trip to Philadelphia that he first realized the popularity of the cheesesteak sandwich. He began selling a version of the cheesesteak sandwich at his own restaurant, and it instantly became a huge hit.
He eventually expanded to Cincinnati, where he opened his first Penn Station restaurant in 1985. Originally, only four sandwiches were available, including the cheese steak. However, this first restaurant also offered fresh-cut french fries and freshly squeezed lemonade, two items that would become trademarks for Penn Station in the future.
By 1987, Osterfeld had opened several Penn Station restaurants in and around Cincinnati. He began selling franchises that year and restaurants soon opened in St. Louis, Louisville, and Nashville. Today, Penn Station has become a large chain across the South and Midwest, with 207 restaurants currently open.
In 2007, Penn Station was ranked #196 on Entrepreneur Magazine's list of the Top 500 International Franchises. In 2005, Penn Station was ranked #145. The rankings are based primarily on financial strength and stability, and the system's growth rate and size.
Read more about this topic: Penn Station (restaurant)
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