Jimmy Johns Franchise, LLC is a franchised sandwich restaurant chain, specializing in delivery. Founded by Jimmy John Liautaud in 1983 and headquartered in Champaign, Illinois, in 30 years, the company has grown to more than 2,500 locations in 46 states. Jimmy Johns has opened approximately 200 locations per year over the past three years. As of 2014[update], 98% of the locations are franchise-owned. After Jimmy John Liautaud graduated second to last in his class at Elgin Academy (1982), his father gave him the choice to join the military or start a business. Liautaud eventually chose to start a business and accepted his fathers $25,000 loan to start a hot dog business, with the son owning 52% of the business, and his father owning 48%. He soon realized that a hot dog business would cost more than he had, so he decided to open a sandwich shop. On January 13, 1983, the first Jimmy Johns opened in a garage in Charleston, Illinois. Paying $200 a month in rent, Liautaud could afford only used equipment consisting of a refrigerator, a chest freezer, an oven and a meat slicer.