Introduction
In this article, we will delve into the intriguing details surrounding the net worth and earnings of American entrepreneur Peter Cancro. As the CEO and co-founder of the renowned American submarine sandwich chain Jersey Mike’s Subs, Peter Cancro has made significant strides in the business world. Join us as we uncover the financial accomplishments of this successful entrepreneur.
Early Life and Personal Relationships
Peter Cancro, born on May 15, 1957, is a native of Pleasant Beach, New Jersey. Currently married to his second wife, Tatiana Voevodina Cancro, Peter was previously married to Linda Cancro. He is the proud father of three children: Robert Cancro, Caroline Cancro, and Paul Cancro.
Professional Journey and Accomplishments
Peter Cancro is a highly regarded American entrepreneur and businessman, best known as the CEO and co-founder of Jersey Mike’s Subs. Established in 1956, Jersey Mike’s Subs has become a prominent fast-food chain with over 1,500 locations across the United States.
Peter Cancro acquired Jersey Mike’s Subs, becoming its fourth owner. His managerial position as Chief Executive has been instrumental in the company’s growth and success. Through his leadership, Peter has generated substantial income. Now, let’s explore the question on everyone’s mind: what is Peter Cancro’s net worth?
Peter Cancro’s Net Worth in 2020
As of December 2020, Celebrity Net Worth estimates Peter Cancro’s net worth to be approximately $400 million. This impressive figure reflects his years of dedication and hard work within the Jersey Mike’s Subs franchise, which boasts over 1,500 locations nationwide.
Peter Cancro’s Journey to Success
Peter Cancro’s path to success began at the young age of 14 when he started working at a sandwich shop called Mike’s Submarines in 1971. During his senior year of high school, Peter discovered that the shop’s owners, two brothers, were interested in selling the business for $125,000. Encouraged by his mother, Peter decided to take the leap and purchase the shop.
With the acquisition of Mike’s Submarines, Peter Cancro had to put his plans to study law at the University of North Carolina on hold. However, his decision proved to be worthwhile. Attracting customers from New York and the North Shore, the shop experienced tremendous success, selling more subs than any other establishment in the world. The popularity even extended to customers who traveled abroad, taking Jersey Mike’s Subs with them.
Building a Thriving Enterprise
Motivated by his early achievements, Peter Cancro realized the potential for growth and expansion. In 1989, at the age of 29, he enlisted attorneys to establish a franchising business. The venture initially thrived in Monmouth County and the Jersey Shore area. Every earned dollar was reinvested back into the business to facilitate further growth.
Despite facing challenges during the 1991 recession, Peter Cancro persevered. Although the business suffered a setback, with a loss of $2 million, Peter refused to declare bankruptcy. He navigated through the tough times, eventually witnessing a resurgence in 1994. Jersey Mike’s Subs flourished and evolved into a significant enterprise. Presently, the company operates 1,600 stores across 47 states, achieving remarkable revenue of $1 billion.
Conclusion
Peter Cancro’s entrepreneurial journey serves as an inspiration to aspiring business leaders. From humble beginnings, he transformed a small sandwich shop into a thriving franchise empire. With an estimated net worth of $400 million in 2020, Peter Cancro’s dedication, perseverance, and astute decision-making have paved the way for his financial success. The story of his rise to prominence continues to inspire and captivate individuals seeking entrepreneurial excellence.
