You Can Thank A 17-Year-Old For Jersey Mike's Massive Success

Known for being a sandwich chain with high-quality meat, Jersey Mike's has become a nationwide phenomenon. While today Jersey Mike's is a massive success in North America, with nearly 3,000 restaurants in the U.S. as of 2024, there was a time when Jersey Mike's was in danger of closing shop before it could get off the ground.

The year was 1975. Mike's Subs, which first got up and running in 1956, had been around for nearly 20 years and still had just one location, focusing on quality in both their service and sandwiches. When it first opened, the submarine sandwich was a relatively new concept in America, with Mike's Subs serving as one of the item's pioneers. However, by 1975 times were changing. The owner was considering selling his storefront, which was likely to become a different business if it wasn't for 17-year-old Peter Cancro, who took it upon himself to buy the restaurant and save the business' legacy.

Peter Cancro started working at Mike's Subs in Point Pleasant when he was only 14, continuing his job there through his senior year in high school as a 17-year-old. He loved everything about working at Mike's, from its authentic subs to connecting with customers. One day he heard that the original owner, Michael (Mike) Ingravallo, was considering selling the business and his mother suggested that he buy the shop — an idea that Peter ran with enthusiastically.

The 17-year-old approached his football coach (who was also a banker) to request a loan. The coach agreed, helping Pete meet the $125,000 asking price for Mike's Subs. Before he had even graduated high school or had his own place to live, Pete was the owner of a successful sandwich shop. Cancro was ambitious: Initially, he sought to become a lawyer but started skipping class to research financial information, seeing the potential of Mike's Subs. Just five years later in 1980, he opened another sandwich shop in Belmar, New Jersey, and in 1987, Peter began franchising the company, changing the name to Jersey Mike's.

Today, nearly 50 years later, Peter Cancro is still the CEO of Jersey Mikes. Without Cancro, Jersey Mike's would never have become the massive success it is now, bringing in celebrities like Danny DeVito in their advertisements and ranking second on the 2024 Franchise 500 list. Peter's legacy is forever cemented in the history of Jersey Mike's and in the Cancro special, a sandwich with the Cancro family namesake, ranked high on Jersey Mike's subs list.

Despite its continued franchising and national size, Peter Cancro ensures Jersey Mike's keeps the local charm that made him fall in love with the business in the first place. In the early days of Jersey Mike's growth, he would still be working the slicer and can be occasionally found behind the counter even today, making connections with customers and bringing his passion to new franchisees. He ensures that Jersey Mike's continues to support the community, raising and giving $21 million to local charities in 2023. Whether you're ordering a meatless sub (they have one of the best on the market), or ordering a sandwich "Mike's Way", you have Peter Cancro to thank for making sure that Jersey Mike's is here to stay.