Peter Cancro Net Worth, Peter Cancro is the founder and CEO of Jersey Mike’s, a sandwich chain that has been growing rapidly in recent years. But how did he make his fortune? Let’s take a look at Peter Cancro’s story.
Peter Cancro was born in 1959 in Newark, New Jersey. When he was just 14 years old, he dropped out of high school to take a job at a local sub shop. He quickly rose through the ranks and eventually became the owner of the shop. In 1987, he bought a second shop in Point Pleasant, New Jersey. It was at this second shop that he came up with the idea for Jersey Mike’s.
He noticed that customers were often disappointed with the quality of the subs they received from other shops. They would complain about the bread being stale, the meat being low-quality, and the vegetables being wilted. So he decided to set out to make a better sandwich. He started by sourcing higher-quality ingredients and emphasizing freshness. He also made it a point to treat his employees well and create a positive work environment.
These efforts paid off, and Jersey Mike’s soon became known for its delicious sandwiches and friendly service. The company has since expanded to more than 1,500 locations across the country. And in 2018, Cancro sold a majority stake in the company to Roark Capital Group for $350 million. Today, his net worth is estimated to be $1 billion.
Conclusion
Peter Cancro is the founder and CEO of Jersey Mike’s, one of the most popular sandwich chains in the United States. He started out as a 14-year-old dropout working at a local sub shop. Through hard work and dedication, he eventually rose to become the owner of that shop. In 1987, he bought a second shop and came up with the idea for Jersey Mike’s. The company has since grown to more than 1,500 locations across the country. And in 2018, Cancro sold a majority stake in the company for $350 million. Today, his net worth is estimated to be $1 billion.
