This New Jersey Billionaire Is A Hometown Hero
After borrowing $125,000 to buy his local sub shop at age 17, Peter Cancro has built Jersey Mike’s into one of the nation’s fastest-growing fast-food brands, on track to hit nearly $4 billion in systemwide revenue this year from 3,000 locations (99% of them franchisees).
It’s also made Cancro a supersized fortune. Including both the value of the business and his share of dividends paid out over the years, Jersey Mike’s sole owner is worth an estimated $5.6 billion. That’s more than Mark Cuban or Steven Spielberg, and twice as much as Jimmy John’s founder Jimmy John Liautaud.
Read the full story on Forbes: https://www.forbes.com/sites/jemimamcevoy/2024/07/28/6-business-lessons-from-jersey-mikes-billionaire-peter-cancro/
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0:00 Introduction
0:46 Peter Cancro Shares The Beginning Of Jersey Mike's
2:51 How Much Does Jersey Mike's Make?
6:14 Jersey Mike's Expands
9:54 How Does Jersey Mike's Give Back?
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It’s also made Cancro a supersized fortune. Including both the value of the business and his share of dividends paid out over the years, Jersey Mike’s sole owner is worth an estimated $5.6 billion. That’s more than Mark Cuban or Steven Spielberg, and twice as much as Jimmy John’s founder Jimmy John Liautaud.
Read the full story on Forbes: https://www.forbes.com/sites/jemimamcevoy/2024/07/28/6-business-lessons-from-jersey-mikes-billionaire-peter-cancro/
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
0:00 Introduction
0:46 Peter Cancro Shares The Beginning Of Jersey Mike's
2:51 How Much Does Jersey Mike's Make?
6:14 Jersey Mike's Expands
9:54 How Does Jersey Mike's Give Back?
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript
Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.