Peter Cancro Biography: Peter Cancro is a famous businessman who was born on October 11, 1968, and has made a big difference in his field. Cancro started and is the CEO of Jersey Mike’s Subs, a famous American submarine sandwich shop. He has been very important to the growth and success of the business.
The Jersey is He is in charge of Mike’s Subs, which has grown and become a well-known brand. Even though estimates of net worth can change, the most up-to-date information on Peter Cancro’s finances should come from sources that are not too old. His business adventure still inspires people who want to work as executives in the fast food industry.
Peter Cancro Biography, Net Worth
Peter Cancro is an American businessman and entrepreneur who is worth a huge $600 million. Cancro made a lot of money as a co-founder of Jersey Mike’s Subs, an American company with more than 1,500 locations across the country.
Cacro is from Point Pleasant Beach in New Jersey. He got his first job at Mike’s Submarines, a sandwich shop, when he was 14. In the last year of high school, Peter found out that the two brothers who owned the stores were trying to sell.
They asked for $125,000. His mother says that Peter should buy it. The story goes that Peter skipped school the following week to work hard and make enough money to pay off his brothers’ debts.
After days of not getting anywhere, he finally knocked on Rod Smith’s door. Smith is his football coach. When Peter told Rod about the shop’s money problems, Rod offered to pay for the purchase with a loan that would have interest added to it.
Who is Peter Cancro?
The United States gave birth to Peter Cancro on May 15, 1957. His younger brother is John. Besides that, not much is known about his parents, his early children, or anything else.
He went to Point Pleasure Hugh High School in New Jersey. When he was in high school, he took a risky move when he learned that the previous owners were going to sell Jersey Mile’s Subs. Since then, he has gone on to manage 1,500 stores across the country.
At age 14, Peter started his own business with the help of his mother and football coach, who helped him raise the money he needed to buy the shop.
He got married to Linda after high school, and the two of them have two children. No one knows what happened between them because Peter is now married to Tatiana Cancro, a different woman.
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The Early Years of Peter Cancro
Pietro Cancro was born in New Jersey on May 15, 1957. When he was younger, Cancro went to Point Pleasant High School and graduated in 1975.
Career
He worked part-time at Mike’s Submarines, a sandwich shop in the Point Pleasant borough, when he was only 14 years old in 1968. The restaurant has been open since 1956 and was on its third owner at the time.
The shop was put up for sale in 1971, and Cancro’s mother pushed him to buy it. Rod Smith, a banker and high school football coach, helped him get $125,000 in just a few days after she told him to do so.
Smith gave Cancro a loan that he had to pay back over seven years. It took Cancro ten years to pay back the loan, but he did it with interest. Jersey Mike’s has a program called the “Coach Rod Smith Ownership Program” that helps young people buy franchises.
With that money, Cancro bought Mike’s and became a business owner at the age of seventeen. After that, he became the CEO of the company. On March 31, 1975, the deal came to an end.
Cancro started franchising his business across the country in 1987 because his customers wanted it so much. This is when he changed the business’s name to Jersey Mike’s to honor the state where the store was first opened.
After that, the business really took off. By 2014, it had opened 750 locations and had another 650 in different stages of construction. The following year, Jersey Mike’s had more than 1,000 locations around the world. The company had 1,400 shops and made $1 billion by 2018.
The franchise also has a few locations in Canada and Mexico. At every Jersey Mike’s, submarine sandwiches are made to order, with cheeses and meats sliced to order.
People can order their food “Mike’s Way,” which includes tomatoes, onions, shredded lettuce, salt, and green juice made by mixing red wine vinegar and olive oil.
