At 17, he bought a sandwich shop for $125,000—he renamed it

Q: Did Peter Cancro buy a sub shop as a teen?

He Bought a Sub Shop as a Teen. Now He’s Selling Jersey Mike’s for $8 Billion. - WSJ He Bought a Sub Shop as a Teen. Now He’s Selling Jersey Mike’s for $8 Billion. Peter Cancro started slinging subs at his local shop at 14. Now he’s selling the national chain he built to Blackstone.

Q: Why was Mike's Subs sold for $125,000?

Cancro explained he'd missed all his classes the past week because Mike's Subs, a local sandwich shop where he'd worked for the past four years, was for sale for $125,000. Another buyer was ready to sign for the sub shop, Cancro explained fervently, and there was no time to lose.

Q: Why does Jersey Mike's outperform other sandwich brands?

This selectivity is one of the key reasons why Jersey Mike’s outperforms its sandwich peers, according to Cancro, who credits owners and employees who are genuinely invested in the future of the brand.

Q: Who is the owner of Jersey Mike's Subs?

The founder and CEO of Jersey Mike's Subs is Peter Cancro. He started with a single mom-and-pop location at 17 years old and expanded it to close to 1,400 franchises nationwide with more than $1 billion in annual sales.

Q: How much was Jersey Mike's subs worth in 1975?

The deal reportedly valued Jersey Mike's Subs at around $8 billion including debt, bumping Cancro's net worth to estimated $7.5 billion, according to Bloomberg. In 1975, however, he was just a senior in high school who didn't want to go into business.

Q: Is Jersey Mike's the fastest growing sandwich chain?

According to industry research from Technomic, Jersey Mike's is measured as the fastest-growing sandwich chain in the U.S., with more than 18 percent growth in sales year over year. Its closest competitor, Firehouse, boosted annual sales at less than 5 percent.

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Did Peter Cancro buy a sub shop as a teen?

He Bought a Sub Shop as a Teen. Now He’s Selling Jersey Mike’s for $8 Billion. - WSJ He Bought a Sub Shop as a Teen. Now He’s Selling Jersey Mike’s for $8 Billion. Peter Cancro started slinging subs at his local shop at 14. Now he’s selling the national chain he built to Blackstone. ...

Why was Mike's Subs sold for $125,000?

Cancro explained he'd missed all his classes the past week because Mike's Subs, a local sandwich shop where he'd worked for the past four years, was for sale for $125,000. Another buyer was ready to sign for the sub shop, Cancro explained fervently, and there was no time to lose. ...

Why does Jersey Mike's outperform other sandwich brands?

This selectivity is one of the key reasons why Jersey Mike’s outperforms its sandwich peers, according to Cancro, who credits owners and employees who are genuinely invested in the future of the brand. ...

Who is the owner of Jersey Mike's Subs?

The founder and CEO of Jersey Mike's Subs is Peter Cancro. He started with a single mom-and-pop location at 17 years old and expanded it to close to 1,400 franchises nationwide with more than $1 billion in annual sales. ...

How much was Jersey Mike's subs worth in 1975?

The deal reportedly valued Jersey Mike's Subs at around $8 billion including debt, bumping Cancro's net worth to estimated $7.5 billion, according to Bloomberg. In 1975, however, he was just a senior in high school who didn't want to go into business. ...

Is Jersey Mike's the fastest growing sandwich chain?

According to industry research from Technomic, Jersey Mike's is measured as the fastest-growing sandwich chain in the U.S., with more than 18 percent growth in sales year over year. Its closest competitor, Firehouse, boosted annual sales at less than 5 percent. ...