Craving a sub? You’re not alone. Jersey Mike’s, is a sandwich chain known for its fresh-sliced meats, zingy “Mike’s Way” dressing, and rapid-fire service. It has certainly become a national phenomenon. But have you ever wondered who’s behind the bread? Who owns Jersey Mike’s?
The answer might surprise you. While the brand boasts over 2,200 locations and generates billions in revenue, its story begins not in a corporate boardroom, but in a small New Jersey town with a 17-year-old entrepreneur named Peter Cancro.
Who Owns Jersey Mike’s: From High School Hustler to Sandwich King
When talking about who owns Jersey Mike’s, we cannot fail to mention the fact that Cancro’s journey with Jersey Mike’s began in 1975 when he stumbled upon a struggling sub shop called Mike’s Subs. Recognizing its potential, he bought the shop for a mere $800 using his bar mitzvah money and a loan from his grandmother.
What followed was a whirlwind of hustle and determination.
Cancro worked tirelessly, often pulling 18-hour shifts. He implemented a unique slicing technique, ensuring each bite was loaded with flavor. He also introduced the “Mike’s Way” dressing, a secret blend that would become the brand’s signature.
Cancro’s vision extended beyond sandwiches. He fostered a positive work environment, treating his employees like family and prioritizing their well-being. This dedication paid off, attracting loyal customers and laying the foundation for the future growth of Jersey Mike’s Subs.
The Franchise Explosion
By 1987, Jersey Mike’s had built a loyal following in Point Pleasant, New Jersey. Cancro, ever the innovator, saw the potential for national expansion. He started franchising, and the rest, as they say, is history. Jersey Mike’s exploded, spreading its sub-love across the country.
In 1991, the company faced some tough times, especially in North Carolina. But Cancro’s strength, resilience, positive thinking, and sharp business acumen kept the company afloat.
Today, with over 2,200 locations across the US, Jersey Mike’s is a national phenomenon, serving an estimated 16 million sandwiches annually. What they can do as a franchise company, far exceeds what Cancro dreamed of in the early days of sandwich making.
Cancro’s impact goes beyond bricks and mortar. He’s a passionate philanthropist, dedicating time and resources to various causes, including the Make-A-Wish Foundation and the Special Olympics.
He also actively mentors young entrepreneurs, sharing his hard-earned wisdom in ongoing training programs, and encouraging them to chase their dreams.
Behind Who Owns Jersey Mike’s There Is More Than Just a Sandwich
But Jersey Mike’s success is more than just delicious authentic sub sandwiches. Cancro’s commitment to quality and freshness is unwavering. He insists on using the highest-grade meats and cheeses, sliced right before your eyes.
He also believes in giving back to the community, supporting local charities and actively participating in philanthropic endeavors.
The Personal Touch
Cancro remains deeply involved in the company, even after all these years, and a net worth of $600 million. He visits franchisees, interacts with customers, and ensures that the “Jersey Mike’s way” – a focus on quality, service, and community – permeates every aspect of the business.
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