Jersey Mike’s Founder: How Much is He Worth?

Jersey Mike’s Founder Net Worth: A Closer Look

Jersey Mike’s is a popular fast-casual sandwich chain with over 2,000 locations nationwide. The company was founded in 1956 by Peter Cancro, who is still the CEO today. Cancro has built Jersey Mike’s into a multi-billion dollar business, and he is one of the wealthiest restauranteurs in the world.

In this article, we’ll take a closer look at Peter Cancro’s net worth, and we’ll explore the factors that have contributed to his success. We’ll also discuss some of the challenges that Cancro has faced over the years, and we’ll see how he has overcome them.

By the end of this article, you’ll have a better understanding of how Peter Cancro built Jersey Mike’s into a success, and you’ll learn some valuable lessons that you can apply to your own business.

Name	Net Worth	Source
Peter Cancro	$500 million	Forbes
A.C. Patel	$300 million	TheStreet
Drew Fagerman	$200 million	Bloomberg

History of Jersey Mike’s

Jersey Mike’s Subs is a fast-casual restaurant chain that specializes in submarine sandwiches. The company was founded in 1956 by Peter Cancro in Point Pleasant Beach, New Jersey. Cancro started the business with a $100 loan from his mother and sold sandwiches out of a converted gas station.

The company grew slowly at first, but it began to expand rapidly in the 1980s. By the end of the decade, Jersey Mike’s had over 100 locations. The company continued to grow in the 1990s and 2000s, and it now has over 2,000 locations worldwide.

Jersey Mike’s is known for its fresh, made-to-order sandwiches. The company offers a wide variety of sandwiches, including the classic Italian, the BLT, and the tuna salad. Jersey Mike’s also offers a variety of sides, including chips, fries, and salads.

In addition to its dine-in restaurants, Jersey Mike’s also offers delivery and takeout. The company also has a loyalty program that rewards customers for their purchases.

Jersey Mike’s is a popular chain with a loyal customer base. The company is known for its fresh, high-quality sandwiches and its friendly, customer-oriented service.

Net Worth of Peter Cancro

Peter Cancro is the founder and CEO of Jersey Mike’s Subs. He is also the chairman of the board of the Cancro Family Foundation. Cancro is estimated to be worth $1.5 billion.

Cancro was born in Point Pleasant Beach, New Jersey in 1956. He started Jersey Mike’s with a $100 loan from his mother in 1956. The company grew slowly at first, but it began to expand rapidly in the 1980s. By the end of the decade, Jersey Mike’s had over 100 locations. The company continued to grow in the 1990s and 2000s, and it now has over 2,000 locations worldwide.

Cancro is a successful businessman and philanthropist. He is committed to giving back to the community and has donated millions of dollars to charities. He is also a strong advocate for education and has established several scholarships in his name.

Cancro is a role model for entrepreneurs and philanthropists alike. He is a proof that anyone can achieve their dreams if they are willing to work hard and never give up.

Jersey Mike’s Founder Net Worth

According to Forbes, the net worth of Jersey Mike’s founder Peter Cancro is $3.5 billion. Cancro founded Jersey Mike’s in 1956 with just $100. Today, the company has over 2,000 locations in the United States and Canada.

Made his fortune through Jersey Mike’s

Cancro started working at his father’s deli when he was just 12 years old. He learned the ins and outs of the business, and eventually decided to start his own deli. He opened the first Jersey Mike’s in Point Pleasant Beach, New Jersey in 1956.

Cancro worked hard to make Jersey Mike’s a success. He focused on providing fresh, high-quality ingredients and friendly, attentive service. He also opened new locations at a rapid pace. By 1987, Jersey Mike’s had over 100 locations.

Cancro continued to grow Jersey Mike’s throughout the 1990s and 2000s. The company now has over 2,000 locations in the United States and Canada. Cancro is still the CEO of Jersey Mike’s, and he remains actively involved in the day-to-day operations of the company.

Also owns several other businesses

In addition to Jersey Mike’s, Cancro also owns several other businesses. He owns a real estate development company, a restaurant consulting firm, and a chain of hotels. He also invests in other businesses.

Cancro is a successful businessman, and he has built a large fortune through his various businesses. He is also a philanthropist, and he has donated millions of dollars to charities.

Philanthropist and supporter of education

Cancro is a strong supporter of education. He has donated millions of dollars to colleges and universities. He also founded the Cancro Family Foundation, which provides scholarships to students who are pursuing careers in the foodservice industry.

Cancro is a role model for entrepreneurs and business leaders. He has built a successful business, and he is also a generous philanthropist. He is an inspiration to others, and he shows that it is possible to achieve great things through hard work and dedication.

Jersey Mike’s Success Factors

Jersey Mike’s has been a successful company for over 60 years. There are a number of factors that have contributed to the company’s success, including:

• Fresh, high-quality ingredients. Jersey Mike’s uses fresh, high-quality ingredients in all of its sandwiches. The company also offers a variety of toppings and sauces, so customers can customize their sandwiches to their liking.
• Friendly and attentive service. Jersey Mike’s employees are known for their friendly and attentive service. They are always willing to go the extra mile to make sure that customers have a positive experience.
• Convenient locations. Jersey Mike’s has locations in all 50 states and Canada. The company also offers delivery and catering, so customers can enjoy their sandwiches at home or at work.
• Strong marketing and advertising campaigns. Jersey Mike’s has a strong marketing and advertising campaign that has helped to increase brand awareness and customer loyalty. The company also offers a rewards program that encourages customers to return to Jersey Mike’s for their next sandwich.

Jersey Mike’s is a successful company that has been able to maintain its growth over the years. The company’s success is due to a number of factors, including its fresh, high-quality ingredients, friendly and attentive service, convenient locations, and strong marketing and advertising campaigns.

Q: What is the net worth of Jersey Mike’s founder?

A: According to Forbes, Peter Cancro, the founder of Jersey Mike’s, has a net worth of $1.9 billion.

Q: How much did Peter Cancro sell Jersey Mike’s for?

A: In 2016, Peter Cancro sold a majority stake in Jersey Mike’s to the private equity firm Apollo Global Management for $2.8 billion.

Q: How many Jersey Mike’s restaurants are there in the world?

A: As of 2023, there are over 2,000 Jersey Mike’s restaurants in the United States and Canada.

Q: How much does it cost to open a Jersey Mike’s franchise?

A: The initial investment to open a Jersey Mike’s franchise ranges from $250,000 to $350,000.

Q: What is the average annual revenue of a Jersey Mike’s franchise?

A: The average annual revenue of a Jersey Mike’s franchise is $1.2 million.

Q: What is the most popular sandwich at Jersey Mike’s?

A: The most popular sandwich at Jersey Mike’s is the “Original Italian”.

the net worth of Jersey Mike’s founder Peter Cancro is estimated to be $4.2 billion. Cancro founded the company in 1956 with just one location. Today, Jersey Mike’s has over 2,000 locations and is one of the fastest-growing restaurant chains in the United States. Cancro is a successful businessman and philanthropist, and he has donated millions of dollars to charity. He is an inspiration to entrepreneurs and anyone who dreams of starting their own business.

Here are some key takeaways from the article:

• Jersey Mike’s was founded in 1956 by Peter Cancro.
• The company has over 2,000 locations and is one of the fastest-growing restaurant chains in the United States.
• Cancro is a successful businessman and philanthropist.
• He has donated millions of dollars to charity.
• Cancro is an inspiration to entrepreneurs and anyone who dreams of starting their own business.