Entrepreneur Peter Cancro founded one of the country’s most prosperous submarine sandwich companies. All of Peter’s endeavors began with a single sandwich shop where he began working while still a high school student.
Let’s know more about him and look at Peter Cancro net worth, records, career and more.
What is Peter Cancro’s Net Worth and Salary 2023?
Peter Cancro is an American entrepreneur best known as Jersey Mike’s Subs founder and CEO. According to reports, Peter Cancro’s net worth currently stands at an impressive $600 million dollars, making him one of the wealthiest people in the food industry.
After graduating from high school, Cancro founded Jersey Mike’s Subs in 1956, and it has since grown into a multi-million dollar company.
Cancro earned over $17 million in 2019 alone. His hard work and commitment to excellence have been rewarded with his high salary, allowing him to lead a comfortable life.
Peter Cancro Overview
On May 15, 1957, Peter Cancro was born in Point Pleasant, New Jersey. He spent his childhood in New Jersey with his parents and his brother John.
Cancro grew up in the same area and went to the local elementary, middle, and high schools in Point Pleasant, New Jersey.
At 14, Cancro started working as a stock boy in a neighborhood supermarket. He bought Mike’s Subs, a tiny sandwich store on Point Pleasant Beach, and renamed it Jersey Mike’s in 1970.
At first, he ran the store by himself, but as it grew, he hired more people and eventually opened up other sites.
Most of the firm was sold by Cancro to L&M Equity Participants, LLC in 1987. This made it possible for the business to grow and open new offices around the nation quickly. 2010 saw Cancro repurchase the majority ownership in the business and take it over completely.
Cancro currently holds the positions of CEO and Chairman of Jersey Mike’s Subs. He is committed to delivering a superior customer experience while leading the company’s growth and expansion.
Cancro is interested in charitable activities via Jersey Mike’s. The restaurant holds an annual “Day of Giving” on the last Wednesday in March, where it distributes all of its sales to different organizations.
For more than 170 charities across the country, Jersey Mike’s raised more than $6 million in 2023 on this day.
Cancro married Linda, his first wife, soon after receiving his high school diploma. Robert, a son, and Caroline, a daughter, are the couple’s two children.
Linda and Peter ultimately got divorced. Cancro wed Tatiana Cancro, his wife of the moment, at the beginning of 2014.
Peter purchased a 3,838-square-foot, four-bedroom condo on East 68th Street in New York City for $15.681 million in August 2014.
At the intersection of 68th and Madison avenue lies their flat, which is part of the “Marquand.” The unit’s HOA dues are more than $14,000 per month.
Why is Peter Cancro famous?
Peter started franchising in 1987. Jersey was adopted in place of Mike’s Subs. Mike’s Subs accurately portray the original location where the sub sandwich was created.
Peter Cancro is currently Jersey’s CEO. More than 2,000 locations are open or being developed under the management of Mike’s Franchise Systems Inc.
FAQs about Peter Cancro
Who bought out Jersey Mike’s?
With the brand’s recent success, Peter Cancro, who purchased what is now the successful Jersey Mike’s Subs chain when he was 17 years old, has found himself in a predicament. His 550 franchisees include some who want to own more Jersey Mike’s restaurants.
How old is Peter Cancro?
Peter Cancro age is 64 years old.
How tall is Peter Cancro?
Peter Cancro height is 5 feet 8 inches.
How much does a Jersey Mike’s owner make a year?
A Jersey Mike’s franchisee often makes $50,000 to $200,000 in profit annually.
How much do Jimmy John’s owners make?
At Jimmy John’s, the average annual salary for an Owner is $115,787.
Peter Cancro is a prime example of the American Dream. Despite his humble beginnings, he built a multi-million dollar sandwich empire from a single sandwich shop.
To learn more about Peter’s amazing success story and net worth for 2023, visit Fidlarmusic for more information. Make sure you don’t miss out on this inspirational entrepreneur who has made an enormous impact!