Welcome to NetWorth Inside. By opening thousands of stores all over the United States, he reduced the unemployment problem. His first job was at Mikes Submarines, a sandwich shop where he worked at 14 years old. His job title was cashier. The Jersey Mike's Franchise has 2,034 locations open and under development with three locations in Queensland, Australia, and two in Ontario, Canada. Peter Cancro is best known for being a co-founder of Jersey Mike's Subs which is an American submarine sandwich chain with nearly 1,300 locations in the United States. They wanted $125,000. And in 2011, Jersey Mike's Subs started the unique concept of donating 100% of its sales, not just the profits, to local charities every March as Day of Giving. From earning $1.75 an hour as a worker to making billions from the sandwich franchise, Cancro inspires everyone to work hard in order to get success. His favorite management question: "What do you think? Peter start his first job was at Mikes Submarines, a sandwich shop where he worked at 14 years old. In The Dinero Music Video, Jennifer Lopez Is Seen Holding A Sandwich From Jersey Mikes, 4. It absolutely took off in our own little area, Monmouth County, the Jersey Shore, Cancro said. With an explosion of growth occurring in 2015, he reached the milestone number of 1000 stores. The entrepreneur spent the next few years building on the cult-like following that Mike's Subs already enjoyed. Peter Cancro, Founder/CEO Corporate Address 2251 Landmark Pl. He is a citizen of the United States. It is generally agreed that Conway The Machine Net Worth 2023: How Rich is The Recording Artist Actually? AS Submarine sandwiches were his favorite ,Peter loved working at the counter, interacting with customers. Over two years and 2000 restaurants in 2020. "We don't say giving back. broward health medical center human resources phone number . When Peter Cancro was after starting the shop, Jersey Mikes Subs, he could easily earn 40 thousand dollars a week as there was no market competitor. Peter Cancro was born on May 15, 1957 in New Jersey. Peter Cancro became the owner of then Mike's Submarine, a sandwich place of the 1,000-square-foot store with 17 seats at the age of just 17. Peter Cancro was born in Not Known. And a major part of the income came from his company Jersey Mike's Franchise Systems Inc. Save my name, email, and website in this browser for the next time I comment. The Jersey Mike's Franchise has 2,034 locations open and under development with three locations in Queensland, Australia, and two in Ontario, Canada. Winston Marshall Net Worth: How Rich Is The Musician Actually? Wilco Nienaber Net Worth: How Rich Is The Golfer Actually? "I learned by doing," says Jersey Mike's CEO,. Peter Cancro Net Worth in 2023, Bio, Wife, Kids, Age, Peter Nygard Net Worth in 2023, Age, Bio, Wife, Height, Life, Titus Welliver Net Worth in 2023, Bio, Age, Height, Kids, Countess Vaughn Net Worth in 2023, Bio, Age, Kids, Career, Jason Nash Net Worth in 2023, Bio, Kids, Career, Age, Movies, Tk Kirkland Net Worth in 2023, Bio, Kids, Salary, Manny Khoshbin Net Worth in 2023, Age, Wife, House, Cars,. As the number of stores continues to expand, his income continues to climb. Peter, however, enjoys working behind the counter, interacting with customers, and chatting with them. The demand was $125,000. Linda, his first wife, was married shortly after he graduated high school. Jersey Mikes Subs had reached the milestone of thousand shops all over the United States of America in 2015. Peter learned that his high school shop owners were looking to sell their shop during his senior year. Laura Bailey Net Worth: How Rich is The American Voice Actress Actually? Over the next decade, he along with his former wife Linda Cancro, opened a few more local outlets of Mike's Subs, slowly building a loyal customer base. Cancro and his wife Tatiana own a four-bedroom condo on East 68th Street and have $15.68 million in assets and income. Mikes knowledge and Peters expertise began franchising in 1987. Peter actually had plans to attend college and pursue a degree in law; however, that changed. Mikes Subs boss mentioned selling the company while he was in high school and he bought it to start his career. Peter had a very ambitious goal of reaching 2000 locations by 2020. In August 2014 Peter paid $15.681 million for a 3,838 square-foot, four-bedroom condo on East 68th Street in New York City. Total Peter Cancro Net Worth in 2021 - $1 Million - $5 Million (Approx.) Prior to Tatiana, Cancro was married to his former wife and business partner, Linda Cancro with whom he opened up a few outlets of Jersey Mikes Sub. Priscilla Presley Net Worth : How Rich Is The Actress Actually? Peter Cancro Net Worth: How Rich Is Peter Cancro? The tradition comes from the time one of his mentors, Bob Hoffman, an 85-year-old ice cream store owner, walked into Cancro's shop and put an ice cream cake on the counter that said, "Congrats Peter." His home base is Santa Cruz, Californias Bay Area. Now, Peter Cancro has a net worth of over 400 million dollars as an American entrepreneur and businessman. Cancro explained hed missed all his classes the past week because Mikes Subs, a local sandwich shop where hed worked for the past four years, was for sale for $125,000. Peter Cancro is an American entrepreneur and businessman who has a net worth of $600 million. What were doing is fresh, slicing right in front of you, Cancro said. Your email address will not be published. The primary source of Peter Cancros money comes from the business that he started. How does a company rebound from the brink of bankruptcy and grow to a billion in sales? the company generates around $2 billion per year in gross revenue, How Jimmy John Liautaud Built A Multi-Billion-Dollar Net Worth Off His Namesake Sandwich Empire, Billionaire Subway Founder Fred DeLuca Dead at 67. The couple separated after 20 years of marriage. Scump Net Worth: How Rich is The American YouTuber Actually? The companys size has more than doubled, with 197 new locations inaugurated in 2015 and 500 more stores now under construction. Peter Cancro Cars. The businessman has made a profound contribution to countless communities and organizations over the years and especially during the COVID-19 pandemic. Today Jersey Mike's operates a franchise-purchasing assistance program called the "Coach Rod Smith Ownership Program" to help young entrepreneurs start their careers. Peter Cancro's high-touch approach to. Eventually, Peter remarried following the divorce. Peter Cancro still serves as the CEO of the company. Originally from New Jersey, Cancro now lives in Point Pleasant Beach. Mike was Peters favorite employer. He also founded Jersey Shore in 1956. Peter, who was working at a finance company as his day job, presented the shops finances, and Rod who lent money with interest offered to finance the purchase. Peter Cancro earned a maximum of his money from Jersey Mikes Subs business. ", It's always interesting to hear how busy CEOs use their time. Over 2 Million Free Sub Sandwiches Have Been Distributed By Jersey Mikes In Support Of Various Causes, 3. Tatiana married again, just like Peter did. A finance company where he work as his day job,presented the shops finances, and Rod who lent money with interest offered to finance the purchase. There are more than 1500 locations in 47 states, and the number of locations is constantly growing. ", It was one of the scariest moments of his career. And he can tell it right away just by the way they walk and how they slice meat and cheese. When I was 14-years-old, it felt like a small family nucleus. Following a successful career as the owner of a sandwich shop, Peter attempted to start making content on YouTube in 2012. Customers may order their meal "Mike's Way," which involves such condiments as sliced onions, tomatoes, salt, shredded lettuce, and a juice combining red wine vinegar and olive oil. It got really busy, crazy in the summer. You can read a lot about leadership in books, but my favorite question to ask is 'What do you think?' Peter skipped school the following week in order to raise enough money to buy out the shop.So he knocked on his football coachs door after trying for days without success. Read also: Don Huffines net worth: The $40 Million Dallas Senator. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. Peter Cancro was born in Not Known. To survive, he had to lay off six people, including his own brother John. Peters first wife and her husbands divorce doesnt reveal the details like the reason or the date of their separation, but they seem to have ended their relationship on good terms. Although he was planning on attending law school, a thought crossed his mind. Peter is a businessman and CEO of the famous American Submarine Sandwich Chain known as Jersey Mikes sub. Peter Cancro has owned the company since he was only seventeen years old. Peter Cancros son, Robert, oversees the Corporate Store Division for the company. Read also: Rick Shiels Net Worth: The Truth Behind His Income. He had one contender who wanted to shore up the deal in exchange for a partnership, but Cancro didnt want a partner. (Jersey Mike's) Peter Cancro suffered from no evident youthful indecision where career choice was concerned. As a part-time employee at Mikes Subs, Peter began his career. Cancro was the co-founder of the famous American sandwich chain Jersey Mikes Subs, which has over 1,500 locations in the United States. Peter Cancro Net Worth: How Rich is The Businessperson Actually? Peter Cancro Net Worth - Jersey Mike's CEO Salary As of 2022, Peter Cancro's net worth can be between 300-600 million USD. Point Pleasant High School, where Peter graduated from high school, was his local high school. It doesn't mean you should always do what they say. The business took off in a major way from there; by 2014, it had amassed 750 locations with 650 additional ones in varying stages of development. Peter Cancro Net Worth: Peter Cancro, who was born on May 15, 1957, is most known for being the CEO of Jersey Mike's Subs or Jersey Mike. Producer Michael Net Worth: How Rich is The Film Producer Actually? Peter did end up remarrying sometime after the divorce. The following year, the total number of Jersey Mike's locations surpassed 1,000, and by 2018 the company was doing $1 billion in sales across 1,400 locations. Now, he is the CEO and owner of the shop. He was proud to know that his customers usually order an authentic sandwich at the store. New Jerseys Point Pleasant Beach is the hometown of Cancro. There Peter learned that his high school shop owners wanted to sell their shop during his senior year. He started working at Peter Cancro became a very successful businessman without going to business school. He also got nominated for the PepsiCo Foodservice. The monthly HOA fee for the unit exceeds $14,000. He is one of the billionaires of the World. "I remember standing in the 400 square foot office of our second store and thinking, 'it's over.'". He grew up playing football at Point Pleasant Beach High School. Cancro is from Point Pleasant Beach, New Jersey. Submarine sandwiches are his favorite food. Fast forward to 2018 and Jersey Mike's does a billion dollars in annual sales with 1400 locations in 45 states. Cancros plans to study law at the University of North Carolina were put on hold permanently. He managed to buy his first store for 125,000 dollars. Despite beginning in the year 1974, Peter Cancros relationship with his first wife Linda Cancro lasted for a couple of decades before they separated in 1992. [2022], Blippi Net Worth: Early life, Career, Personal life and earning source [2022]. Peter's mother suggested that he buy it. After purchasing the original Jersey Mikes Subs in 1975, he ran the single location until he decided that he was ready to switch his business model to franchising in 1987. The Jersey Mikes Franchise has 2,034 locations open and under development with three locations in Queensland, Australia, and two in Ontario, Canada. . Jena Frumes Net Worth: How Rich Is The Actress Actually? Greg Jones also [], Peter Cancro Net Worth And Family: 5 Facts To Know About The CEO Of Jersey Mikes Subs. It did what would be $40,000 a week in today's dollars. As per the Celebrity Net Worth, Peter Cancro has a net worth of about $400 million. Peter Cancro is a famous American entrepreneur and businessman who has a net worth of $400 million. When I asked him if he had any more insight as to what this trait is, he said it's a realness, a genuineness, that seeks to raise people up. Today there are almost two thousand locations of his company and He is still the CEO of the company. Peter laid out the shop's finances and Rod who worked in finance as his day job offered to fund the purchase with an interest-bearing loan. He even personally taught the crew to interact and talk with the customer, to share a passion for getting to know the customer. 1,360 Jersey Mikes stores participated in the promotion this year. The differentiator between a successful franchise owner and an unsuccessful one is energy. At the conclusion of the day, $5 to $7 million will be distributed to organizations, institutions, and medical initiatives all around the country. He is one of the famous American entrepreneur and businessperson who has a net worth of around $2.8 billion dollar. Buying it was the mothers suggestion to Peter. Every year in March, he celebrates the giving day and donate the 100% of sales to different charity groups. Mikes way is one of the special sub at Jersey Mikes sub as the sub includes shredded lettuce,sliced onions, salt and other spices, tomatoes, oregano, and it also contains The Juice which is a mixture of olive oil and red vinegar wine. And you never know, sometimes, you break tackles.". John McAfee Net Worth: How Rich Is The Business Man Actually? He should buy it, according to Peters mother. Among Cancros expansion plans in the next decade were a few new locations, but the company had a difficult time accelerating its growth. Peter Cancro bought the original Jersey Mike's Subs on the Jersey Shore in 1975 and grew the business to nearly 1,600 stores across the country. Peter Cancro was born on May 15th, 1957, in Point Pleasant, New Jersey. Shortly after becoming the owner, he changed the name, and it is now known as Jersey Mikes Subs. Zack Lugo Net Worth :How Rich Is The Actor Actually? He recognized the growth potential of the jersey. Franchising is available as well as contract management. Linda Cancro was his first wife. Find valuable information and get inspired with our archive that covers rich people, celebrities, inspirational personalities, success stories, net worths, richest lists, self-development lessons, and much more. The business was renamed shortly after he became the owner, and it is now known as Jersey Mikes Subs. According to multiple sources, Peter Cancro net worth is $400 million. He performs as a vocalist, rapper, guitarist, and music producer in addition to being a DJ. The submarine sandwich restaurant has won the award for the fastest growing franchise concept in America for the last four years in a row. Cody Rigsby Net Worth: How Rich Is The Entrepreneur Actually? His response was, Because I knew Peter could get the ball across the goal line, Cancro said of Smith. Peter was proud to know that his loyal customer would order an authentic sandwich when entering the store. The company has approximately 1,600 locations, with gross revenue of about $2 billion per year. History. He married his first wife, Linda, just after high school. With the help of his football coach, Rod Smith, who was also a banker at that time, the then 17-year-old teen pulled together $125,000 in three days and eventually became the owner and proprietor of Mike's Subs. All Rights Reserved, https://socialblade.com/youtube/user/jerseymikestv, https://www.forbes.com/search/?q=Peter%20Cancro&sh=1e4dc5bf279f, Married (married twice and once divorced). He got his early education from the Point Pleasant high school. He joins Mike Subs and starts working there. He got his start at a local mom and pop sandwich shop called Mike's Subs in Point Pleasant, New Jersey, when he was 14 years old. He became the fourth owner of Jersey Mike Subs, In 1975. Free! A net worth of $400 million holds American entrepreneur, businessman Peter Cancro. Biography Timeline 1956 From a prior union with another man, Tatiana had a grown son. In the next five years, the CEO expects to double Jersey Mike's to $2 billion in annual sales and 3,000 locations. Not Known. The awards and recognition came from several leading industry publications, including: Peter Cancro has been married twice and divorced once in his 63-years of life. Originally from New Jersey, Cancro now lives in Point Pleasant Beach. Peter eventually got married again after that! document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Christian Stracke Net Worth | Ex-Wife (Sutton Stracke), Awarded the 2013 Golden Chain Award winner by the Nations Restaurant News, The 2019 Silver Plate Award in the Chain Limited Service category. He prides himself on giving back and each March Jersey Mike's hosts their "Day of Giving" and donates 100% of sales to local charities with about $5 to $7 million being donated each year. Cancros bottom line is pretty staggering, considering so many restaurants do not even survive the first year, let alone grow as much as Jersey Mikes Subs has. After six months, one guy came back, after a year, another came back. Why would Smith loan that much money to an 17-year-old kid? 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