Basic Information About Peter Cancro
|Category||Business › CEOs|
|Professions||CEO/Co-founder of Jersey Mike's|
|Date of birth||1958-05-15 (65 years old)|
|Place of birth||New Jersey|
|Social Media||↗︎ Wikipedia|
Peter Cancro: From Sandwich Shop Employee to Successful Entrepreneur
Peter Cancro, an American entrepreneur and businessman, has made a name for himself as the co-founder and CEO of Jersey Mike’s Subs, a popular American submarine sandwich chain with over 1,500 locations across the United States. Cancro’s journey from a part-time sandwich shop employee to a successful business owner is nothing short of inspiring.
Net Worth Details
Peter Cancro’s entrepreneurial ventures have made him a wealthy individual. With a net worth estimated at $600 million, he has built a substantial fortune through the success of Jersey Mike’s Subs. The company generates around $2 billion in gross revenue annually, solidifying its position as one of America’s favorite sub sandwich chains.
What is Peter Cancro known for?
Peter Cancro is best known for his role in transforming a small sandwich shop into a thriving franchise business. At the age of 17, Cancro made the bold decision to purchase Mike’s Submarines, a local sandwich shop where he had been working part-time. With the help of his high school football coach and banker, Rod Smith, Cancro secured a loan to buy the business.
Early life and education
Peter Cancro was born on May 15, 1957, in Point Pleasant Beach, New Jersey. As a teenager, he attended Point Pleasant High School, where he graduated in 1975. His entrepreneurial journey began at the age of 14 when he started working at Mike’s Submarines.
After purchasing Mike’s Submarines, Cancro set out to expand the business. In 1987, he embarked on a franchising venture and changed the name of the chain to Jersey Mike’s. The decision proved to be successful, with the number of locations rapidly increasing over the years.
Today, Jersey Mike’s boasts approximately 1,600 locations across the United States, Canada, and Mexico. As the CEO of the company, Cancro continues to lead and shape the brand’s success.
Peter Cancro is not only a successful businessman but also a compassionate philanthropist. Throughout the years, he has demonstrated his commitment to giving back through Jersey Mike’s charitable initiatives. One notable event is the annual ‘Day of Giving,’ during which Jersey Mike’s donates 100% of its sales to local charities. Each year, this event raises millions of dollars for various causes in communities across the United States.
Peter Cancro’s achievements extend beyond his success as an entrepreneur and business owner. In addition to building a billion-dollar franchise, he has received recognition for his contributions to the industry. While specific awards and accomplishments may vary, Cancro’s impact on the fast-casual dining sector is undeniable.
The story of Peter Cancro exemplifies the power of determination, entrepreneurship, and hard work. From purchasing a small sandwich shop as a teenager to growing it into a nationwide franchise success, Cancro’s journey serves as an inspiration for aspiring business owners and entrepreneurs.
As Peter Cancro continues to lead Jersey Mike’s Subs and make a difference through his philanthropic efforts, his legacy as a successful entrepreneur and compassionate individual will endure.