After graduating from high school, Cancro founded Jersey Mike's Subs in 1956, and it has since grown into a multi-million dollar company. His favorite management question: "What do you think? In his early teens, he started working at Mikes Submarines, a sandwich shop. In order to survive this huge loss, Cancro had to lay off six people including his own brother, John Cancro, eventually having to work more than 100 hours every week himself. His job title was cashier. History. So Peter Cancro asked for help from many people in the Northwest. They've got some celebrity fans as well. However, this decision nearly destroyed the company, taking him to the edge of bankruptcy as the recession hit the United States in the 90s. 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,. In 1987 he decided that franchising was the way to go. Luck seems to be on his side as within three years of the recession, he managed to rise again and hire back all the staff he had fired back then. Peter Cancro's high-touch approach to. At the age of 14, Peter Cancro made up to 1.75 dollars a day. To survive, he had to lay off six people, including his own brother John. After 43 years of work, Jersey Mikes plans to double its number of locations over the next five years. In addition to changing the name, he also renamed the chain Jersey Mikes. We say giving. Your email address will not be published. According to Jersey Mikes CEO Peter Cancro, the 8th Annual Month of Giving was the most successful one yet because of the cooperation of wonderful customers, workers, franchise owners, and charity partners.. Cancro and his wife Tatiana own a four-bedroom condo on East 68th Street and have $15.68 million in assets and income. Every year in March, he celebrates the giving day and donate the 100% of sales to different charity groups. Linda, his first wife, was married shortly after he graduated high school. In the spring of his senior year in 1971, Cancro learned the two brothers who owned the shop wanted to sell. Peter Cancro. The companys mission, which has always functioned as the organizations mission statement, is providing makes a difference in a persons life.. 4. Opinions expressed by Forbes Contributors are their own. In 1987, he opened some outlets, expansion of outlets was slow. He is presently wed to Tatiana Voevodina Cancro, who was Peter Cancros second wife. May 1957). In high school, he listened to Mike subs owner about the sale of the company. According to multiple sources, Peter Cancro net worth is $400 million. A well-known producer of electronic music, G Jones is about 30 years old. Today there are roughly over 2,000 locations through which the company generates over $2 billion per year in gross revenue as per estimating sources. Peter and Tatiana recently took ownership of a super fancy four-bedroom unit on East 68th St, in New Jersey, which is reported to be worth $15.68 million. Yes, Jersey Mike's is profitable. Peter start his first job was at Mikes Submarines, a sandwich shop where he worked at 14 years old. The entrepreneur spent the next few years building on the cult-like following that Mike's Subs already enjoyed. Slim Thug Net Worth: How Rich Is The Rapper Actually? Tatiana and he exchanged vows in February 2014. He is most famous for being a co-founder of the American submarine sandwich chain Jersey Mike's Subs, with over 1500 sites in the USA. 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). Cancro expressed his gratitude to Bob Hoffman of Hoffmans Ice Cream and Jack Baker of Bakers Lobster Shanty for teaching him the value of giving selflessly to the Point Pleasant Beach community. Free! But, as is typical when a company invests in growth too fast, expenses can scale faster, too. 2023 Celebrity Net Worth / All Rights Reserved. In 2021 only, Jersey Mikes annual Month of Giving campaign raised more than $15 million. They got separated after their second child was born. Mike was Peters favorite employer. Submarine sandwiches were his favorite. In 47 states, Mike Jersey closes 1600 stores. In a short time, Peter Cancro was able to make 35 shops in 1991 andhe faced bankruptcy. Required fields are marked *. He became the fourth owner of the restaurant since it first opened in 1957. He grew up playing football at Point Pleasant Beach High School. Cancro stuck with what he had to get to where he is. Peter did end up remarrying sometime after the divorce. Co-founder of Jersey Mike Subs, which has over 1500 locations in the United States, he is most famous for his submarine sandwich chain. But Smith reserved judgment and simply listened. Then the 1991 recession hit, and Cancros business flatlined for the next two years. We did tremendous volume. His charity has previously benefited Jersey Shore University Medical Centers HOPE Tower Project, Trauma Center, Transforming Care Campaign, sponsorship support for the medical centers Annual Golf Classics and Annual Foundation Gala events, and Hackensack Meridian Ocean Medical Centers emergency department expansion. Peter Cancro net worth and salary: Peter Cancro is an American entrepreneur and businessman who has a net worth of $300 million. Peter Cancro was known as the 4th owner of a submarine sandwich chain named Jersey Mikes Subs and US famous businessman and entrepreneur with a net worth of $400 million. Besides, Peter is also a stepfather to Philip, who is Tatianas son from her previous marriage. Peter Cancro is a hardworking businessman and an entrepreneur. Originally from New Jersey, Cancro now lives in Point Pleasant Beach. 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. Something clicked, Cancro said, and a week later he was knocking on the door of a banker named Rod Smith, who was also Cancros youth football coach, after 9 p.m. on a Sunday night, declaring his intention to buy the business. Photo Source: Jersey Mike's Subs, Facebook. The differentiator between a successful franchise owner and an unsuccessful one is energy. Peter and his wife worked together in the company and launched new outlets of the company. That's what I want for our store teams today. Peter Cancro entered the workforce at a young age, and now, after more than 50 years of perseverance and dedication, he is living his best life! As far as a house or property goes, there is a current listing in the New Jersey area. 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. 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. He went on to become the company CEO, as well. Peter Cancro's first salary was $1.75 per day. It got really busy, crazy in the summer. As of 2018, Jersey Mikes operates 1400 locations across 45 states and generates $1 billion in revenue annually. 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. His most famous achievements include co-founding Jersey Mike's Subs with more than 1,500 locations throughout the United States. The Entrepreneur Borrowed $125,000 as a Teen, Then Used It to Build the $1 Billion Jersey Mikes Brand. Peter Cancro was born in Not Known. Peter Cancro - Net Worth The primary source of Peter Cancro's money comes from the business that he started. In January 1975, the owners of Mikes Subs, brothers Victor and Frank Merlo, put the shop on the market. Moreover, it has 1910 stores active in the United States. Tay K Net Worth: How Rich Is The Rapper Actually? Mikes knowledge and Peters expertise began franchising in 1987. The Jersey Mikes 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. After he bought his beloved sub shop, Cancro opened up a few more local stores and paid off his loan to Smith. 5 Facts To Know About The CEO Of Jersey Mikes Subs, 1. With the net worth of $300 Million, Peter Cancro is the #1599 richest person on earth all the time in our database. Peter Cancros estimated Yearly Income: $9 million,Monthly Income: $750 thousand,Weekly Income: $173.08 thousand,Daily Income: $24.66 thousand,Hourly Income: $1.03 thousand. Cancro is from Point Pleasant Beach, New Jersey. Read also: Mariana Van Zeller Net Worth: Biography & Net income. He has one brother named John Cancro. He got married to Linda Cancro in 1975 after buying his first company and has two children. Peter Cancro worked as a part-timer at Mikes Submarine.In 1975, the previous owner put on a sandwich shop, Mikes Subs, near his part-time job. As a 14-year-old, he began working at a sandwich shop named Mikes Submarines. Net worth He is one of the famous American entrepreneur and businessperson who has a net worth of around $2.8 billion dollar. In 1987, he began franchising the business due to the large demand of the customers. However, this decision nearly destroyed the company, taking him to the edge of bankruptcy as the recession hit the United States in the '90s. 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. The submarine sandwich restaurant has won the award for the fastest growing franchise concept in America for the last four years in a row. Peter actually had plans to attend college and pursue a degree in law; however, that changed. He started working at a sandwich place called Mike's Submarines when he was 14 years old. As the CEO of Jersey Mikes Subs, he brings in a cool $9 million annually. Jersey Mike Has Collected More Than $28 Million For Charity Since 2010, G Jones Age, Wikipedia, Musical Career and Net Worth, Everything About Manjit Minhas Husband Harvey Shergill, Lauren Taylor Wolfes Husband: Josh Wolfe Bio, Wikipedia, Age, Work, Earnings And Net Worth, Dani Speegle Wikipedia, Boyfriend, Parents, Children, Siblings, Earnings And Net Worth Of Crossfit Athlete, Mickey Raphaels Wife: Heidi Raphael Bio, Wikipedia, Age, Children Details, LOAM Face Reveal, Wikipedia, Net Worth & Instagram. As Peter was a high school student, he listened to MikeSubs owner talking about the sale of the company. A US businessman and entrepreneur with a net worth of $400 million, Peter Cancro is an American entrepreneur. It won't be wrong to say Peter Cancro and his beloved wife, Tatiana Voevodina Cancro, are a match made in heaven considering their love to run business and their commitment to philanthropy. Today there are roughly 1,600 locations and. Over 2 Million Free Sub Sandwiches Have Been Distributed By Jersey Mikes In Support Of Various Causes, 3. Robert Cancro and Caroline Cancro are the names of their sons. Together, Robert Cancro and Caroline Cancro have a son and a daughter. We use cookies to ensure that we give you the best experience on our website. Jersey Mikes provides $5 to $7 million to a local charity every March. Nailea Devora Net Worth: How Rich Is The Actor Actually? 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. After a year, Peter Cancro was able to overcome his bad situation. Among Cancros expansion plans in the next decade were a few new locations, but the company had a difficult time accelerating its growth. Everyone is back with me now.. The Jersey Mikes Franchise has 2,034 locations open and under development with three locations in Queensland, Australia, and two in Ontario, Canada. His first job was at Mike's Submarines, a sandwich . Not Known. There are more than 1500 locations in 47 states, and the number of locations is constantly growing. Jersey Mike's founder Peter Cancro. His response was, Because I knew Peter could get the ball across the goal line, Cancro said of Smith. When he was only 14 years old in 1968, Cancro had a part-time job at a local sandwich shop called Mike's Submarines in the borough of Point Pleasant. Priscilla Presley Net Worth : How Rich Is The Actress Actually? Cancro was 29 years old in 1987 when he hired attorneys to set up his franchising business. The couple have two children, a son named Robert and a daughter named Caroline. Now there are 1,551 restaurants stretching from Connecticut to Utah, with an astounding 266 of those in California alone and 47 states, Mike Jersey closes 1600 stores. He is also the owner who took Jersey Mikes national when he began franchising in 1987. The couple separated after 20 years of marriage. 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. Franchising is available as well as contract management. His charity has previously benefited Jersey Shore University Medical Centers HOPE Tower Project, Trauma Center, Transforming Care Campaign, sponsorship support for the medical centers Annual Golf Classics and Annual Foundation Gala events, and Hackensack Meridian Ocean Medical Centers emergency department expansion. He wanted to do this on his own, and thats why he sought out Rod Smith. By opening thousands of stores all over the United States, he reduced the unemployment problem. Tags: Peter Cancro Peter Cancro net worth CEO Millionaire The Richest Celebrity Net Worth In 1987, Cancro responded to customer demand and franchised the business across the country, adding the famous shop's state of origin to the name: Jersey Mike's, to retain its authentic roots. Peter started franchising his shop in 1987. Don Huffines net worth: The $40 Million Dallas Senator, Net Worth and massive wealth of Peter Cancro, Mariana Van Zeller Net Worth: Biography & Net income, Rick Shiels Net Worth: The Truth Behind His Income, Thach Nguyen Net Worth 2022: Eerly life with full biography, Kramer Hickok Net Worth: Biography, net income and Interesting Facts [2022], Yungeen Ace Net Worth: Income, Early life, and personal life [2023], Channing Crowder Net Worth: Biography and Income of a Former NFL player [2022], Val Kilmer Net Worth: How rich he was? From a prior union with another man, Tatiana had a grown son. Nobody does that. One hundred twenty-five thousand dollars was requested. When Peter Wisemans net worth is assessed again in a few years, $400 Million might just be a milestone. Rap Rapper and composer Tay K, real name Taymor Travon Mcintyre, hails from the United States. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. It was at this time that he renamed the business Jersey Mike's, referencing the shop's state of origin. In 1987, high customer demand led Cancro to start franchising his restaurant across the United States. Just show up every day. An American businessman named Peter Cancro currently has a net worth of more than $400 million USD. He is one of the famous American entrepreneur and businessperson who has a net worth of around $2.8 billion dollar. Although the precise date is uncertain, Peter Cancro and his fiance Tatiana exchanged vows in February 2014. At the conclusion of the day, $5 to $7 million will be distributed to organizations, institutions, and medical initiatives all around the country. 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. Season 4: Release Date: Everything you need to be aware Dynamo Net Worth in 2023, Real Name, Weight, Age, Cars, Girlfriend. Leadership Thought Leaders This Entrepreneur Borrowed $125,000 as a Teen, Then Used It to Build the $1 Billion Jersey Mike's Brand Peter Cancro was just 17 when he bought the sandwich shop. Mikes sub was popular for its famous subs and burgers. Also See: How Trevor Chapman Made Millions with the Simplest of Ideas. Not Known. Peter Cancro Net Worth | Celebrity Net. His most famous achievements include co-founding Jersey Mikes Subs with more than 1,500 locations throughout the United States. Cancro is from Point Pleasant Beach, New Jersey. It was the worst recession of my life," said Cancro. A franchise was the best option for him in 1987. After graduating from Point Pleasant High School in 1975, he purchased Mikes Sandwich Shop and worked there for four years. "I walk in wearing a white oxford shirt with the sleeves rolled up and I start cleaning the grill. In order to highlight the chains New Jersey seaside roots, he and his wife Linda expanded their business and changed its name to Jersey Mikes Subs. Now, the shop has up to 1900 locations where one can find a store. Among Cancros expansion plans were a few new locations, but the company had a difficult time accelerating its growth and a franchise was the best option for him in 1987. Now Peter Cancro is an American entrepreneur and businessman with a net worth of more than 400 million dollars,over 1500 locations in the United States. The Jersey Mike's Franchise has 2,034 locations open and under development with three locations in Queensland, Australia, and two in Ontario, Canada. The deal officially closed on March 31, 1975. Keepupradio Net Worth: How Rich Is The Actor Actually? Cancro's Pop Warner football coach, Rod Smith, who was also a banker, came through in the end and helped Peter get a loan to buy Mike's Subs. Peter Cancro's high-touch approach to His childhood was spent in New Jersey, United States, where he was born on May 15, 1957. Peter Cancro net worth and salary: Peter Cancro is an American entrepreneur and businessman who has a net worth of $600 million. They demanded One hundred twenty-five thousand dollars . 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