Peter Cancro, an American entrepreneur, and businessman, has a net worth of $600 million. He earned his fortune as the co-founder of Jersey Mike’s Subs, an American submarine sandwich chain with over 1,500 locations in the United States. This article delves into Cancro’s inspiring journey, from his early days as a sandwich shop employee to becoming a successful entrepreneur with a significant net worth.
How Much is Peter Cancro’s Net Worth?
Peter Cancro, the mastermind behind the popular submarine sandwich chain, Jersey Mike’s Subs, has amassed a net worth of $600 million. His wealth is a testament to his entrepreneurial spirit, business acumen, and relentless dedication to his vision.
Quick Info
| Full Name | Peter Cancro |
| Date of Birth | May 15, 1957 |
| Known For | Co-founder of Jersey Mike’s Subs |
| Net Worth | $600 million |
| Business | American submarine sandwich chain |
| Number of Locations | Over 1,500 in the United States |
| Annual Revenue | Around $2 billion |
| Philanthropy | Annual “Day of Giving” at Jersey Mike’s Subs |
| Family | Younger brother named John, two children with first wife Linda, currently married to Tatiana Cancro |
| Real Estate | $15.681 million condo on East 68th Street in New York City |
Early Life
Cancro’s journey began in a sandwich place called Mike’s Submarines when he was just 14 years old. During his senior year of high school, he discovered that the shop’s owners were planning to sell. Encouraged by his mother and backed by his football coach, Rod Smith, Cancro managed to raise enough money to buy the shop. This bold step marked the beginning of Cancro’s entrepreneurial journey.
Personal Life and Real Estate Investments
Born on May 15, 1957, in New Jersey, Cancro has a younger brother named John. After graduating from high school, Cancro married his first wife, Linda, with whom he has two children. He is currently married to Tatiana Cancro. In addition to his business ventures, Cancro has made significant real estate investments, including a $15.681 million condo on East 68th Street in New York City.
The Growth of Jersey Mike’s Subs
Over the next decade, Cancro opened a few new locations, but expansion was slow and challenging. In 1987, he decided that franchising was the way forward. He also changed the chain’s name from Mike’s Submarine to Jersey Mike’s, a move that signaled the start of a new era for the company. Today, Jersey Mike’s boasts roughly 1,600 locations and generates around $2 billion per year in gross revenue. Cancro continues to serve as the CEO of the company, guiding its growth and expansion.
How Peter Cancro Became the Owner of then Mike’s Submarine?
At the tender age of 14, Cancro started working at a sandwich shop called Mike’s Submarines. During his senior year of high school, he learned that the shop’s owners were planning to sell. Encouraged by his mother and backed by his football coach, Rod Smith, Cancro managed to raise enough money to buy the shop. This bold move marked the beginning of Cancro’s entrepreneurial journey, transforming him from an employee to the owner of what would become Jersey Mike’s Subs.
Peter Cancro’s Wife
Peter Cancro has been married twice. After graduating from high school, Cancro married his first wife, Linda, with whom he has two children. The couple eventually divorced. In early 2014, Cancro married his current wife, Tatiana Cancro.
Peter Cancro’s Career
Cancro’s career is a story of perseverance and entrepreneurial success. After buying Mike’s Submarines, he spent the next decade opening a few new locations. In 1987, he decided to franchise his restaurant and renamed it Jersey Mike’s Subs. Today, Cancro continues to serve as the CEO of the company, guiding its growth and expansion across the United States.
A Commitment to Giving Back
Cancro’s success is not just measured in dollars. He is deeply committed to charitable endeavors. Each year, Jersey Mike’s hosts their “Day of Giving,” donating 100% of sales to local charities. This commitment to giving back underscores the company’s values and Cancro’s personal philosophy.
Conclusion
Peter Cancro’s story is a testament to the power of vision, perseverance, and hard work. From his humble beginnings at a sandwich shop to amassing a net worth of $600 million, Cancro’s journey is truly inspiring. His commitment to giving back to the community further enhances his legacy, making him a role model for budding entrepreneurs.
Frequently Asked Questions
1. Who is Peter Cancro?
A: Peter Cancro is an American entrepreneur and businessman, best known as the co-founder of Jersey Mike’s Subs, an American submarine sandwich chain. He has a net worth of $600 million.
2. How did Peter Cancro start his business?
A: Cancro started working at a sandwich place called Mike’s Submarines when he was 14 years old. During his senior year of high school, he found out that the shop’s owners were looking to sell. With the help of his football coach, Rod Smith, Cancro managed to raise enough money to buy the shop.
3. How many locations does Jersey Mike’s Subs have?
A: As of the latest reports, Jersey Mike’s Subs has over 1,500 locations in the United States.
4. How much does Jersey Mike’s Subs make in a year?
A: Jersey Mike’s Subs generates around $2 billion per year in gross revenue.
5. What is Peter Cancro’s net worth?
A: Peter Cancro has a net worth of $600 million.
6. What is the “Day of Giving” at Jersey Mike’s Subs?
A: Each year, Jersey Mike’s hosts their “Day of Giving,” during which they donate 100% of sales to local charities.
7. Where does Peter Cancro live?
A: Peter Cancro has made significant real estate investments, including a $15.681 million condo on East 68th Street in New York City.
8. Who is Peter Cancro’s family?
A: Peter Cancro has a younger brother named John. After graduating from high school, Cancro married his first wife, Linda, with whom he has two children. He is currently married to Tatiana Cancro.