A US businessman and entrepreneur with a net worth of $400 million, Peter Cancro is an American entrepreneur.
The most famous achievements of Peter Cancro include co-founding Jersey Mike’s Subs with more than 1,500 locations throughout the United States.
Net Worth, Age, Career, Profession, Nationality, Bio
|Real Name||Peter Cancro|
|Age||63 years old|
|Date of Birth||15th-May-1957|
|Place of Birth||New Jersey, USA|
|Net Worth||$400 Million|
Originally from New Jersey, Cancro now lives in Point Pleasant Beach. As a 14-year-old, he began working at a sandwich shop named Mike’s Submarines.
Peter learned that his high school shop owners were looking to sell their shop during his senior year. One hundred twenty-five thousand dollars was requested. Buying it was the mother’s suggestion to Peter.
Early Life of Peter Cancro
Table of Contents
New Jersey, United States of America, was the place of Peter Cancro’s birth in May 1957. The place where he was born was home to him as a child. In any case, John Cancro is the brother of Peter Cancro.
Peter Cancro graduated from high school at the age of 17 and married Linda Cancro the following year. The couple got divorced after ten years of marriage. The couple also had two children together, through Peter Cancro’s first marriage to Linda Cancro.
Biography of Peter Cancro
A net worth of $400 million holds American entrepreneur, businessman Peter Cancro. Cancro was the co-founder of the famous American sandwich chain Jersey Mike’s Subs, which has over 1,500 locations in the United States.
Originally from New Jersey, Cancro now lives in Point Pleasant Beach. His first job was at Mike’s Submarines, a sandwich shop where he worked at 14 years old.
Peter learned that his high school shop owners were looking to sell their shop during his senior year. The demand was $125,000. He should buy it, according to Peter’s mother.
A legend holds that Peter skipped school the following week in order to raise enough money to buy out the brothers. Finally, he knocked on his football coach’s door after trying for days without success.
Peter, who was working at a finance company as his day job, presented the shop’s finances, and Rod – who lent money with interest – offered to finance the purchase.
Among Cancro’s expansion plans in the next decade were a few new locations, but the company had a difficult time accelerating its growth. A franchise was the best option for him in 1987. In addition to changing the name, he also renamed the chain Jersey Mike’s.
- A total of 30 locations existed by 1991.
- The company had 750 locations by 2014.
- As of 2015, there were nearly 1,000
- The company has approximately 1,600 locations, with gross revenue of about $2 billion per year.
In addition to serving as CEO, Peter Cancro is the founder of the company. The Jersey Mike’s restaurant supports local charities with 100% of its sales on the “Day of Giving” each March, giving away an estimated $5 to $7 million annually.
Career of Peter Cancro
Peter Cancro was a high school student growing up in Point Pleasant, New Jersey, in 1971. He joins Mike Subs and starts working there. At the age of 14.
Mike was Peter’s favorite employer. Submarine sandwiches were his favorite. However, Peter loved working at the counter, interacting with customers, and speaking with them even more. Additionally, he wants to know about the holidays also where he comes from.
Peter was proud to know that his loyal customer would order an authentic sandwich when entering the store. As Peter was a high school student, he listened to Mike Subs’ owner talking about the sale of the company.
He was proud to know that his customers usually order an authentic sandwich at the store. In high school, he listened to Mike subs owner about the sale of the company.
He became the fourth owner of Jersey Mike Subs, In 1975. He also founded Jersey Shore in 1956. He took Jersey Mike national when he started his franchise in 1987.
As of today, there are 1,551 restaurants stretching from Connecticut to Utah, with an astounding 266 of those in California alone. In 47 states, Mike Jersey closes 1600 stores.
Over two years and 2000 restaurants in 2020. There is $1 billion total profit accrues with a target of more than $2 billion.
Personal Life or Peter
Mike Peter Cancro married his first wife Linda at just 17 years old, shortly after buying his first business. In the summer after Peter graduated from high school, he decided to get married with his high school sweetheart.
In this time, he and his wife, Linda, opened more locations, renaming the chain Jersey Mike’s Subs in reference to its New Jersey roots.
Despite beginning in the year 1974, Peter Cancro’s relationship with his first wife Linda Cancro lasted for a couple of decades before they separated in 1992.
Together, Robert Cancro and Caroline Cancro have a son and a daughter. Peter Cancro’s son, Robert, oversees the Corporate Store Division for the company. Rob got married to Ashley in June 2015 after he graduated from Colorado State University.
Peter’s first wife and her husband’s divorce doesn’t reveal the details like the reason or the date of their separation, but they seem to have ended their relationship on good terms.
Education of Peter
Point Pleasant High School, where Peter graduated from high school, was his local high school. The purchase of Jersey Mike permanently put the plans Cancro had to study law at the University of North Carolina on hold.
Net Worth of Peter Cancro
Currently, Peter Cancro is an American entrepreneur and businessman with a net worth of more than 400 million dollars. Co-founder of Jersey Mike Subs, which has over 1500 locations in the United States, he is most famous for his submarine sandwich chain.
Lastly, when it comes to revenue and assets, Cancro and his wife Tatiana own a four-bedroom apartment in SoHo for $15.68 million.
Jersey Mike’s income will continue to flow as long as Peter Cancro maintains his income, which seems to be a long haul. When Peter Wiseman’s net worth is assessed again in a few years, $400 Million might just be a milestone.
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