Jersey Mike’s Subs was?founded in 1956 in Point Pleasant, New Jersey. This small sandwich shop was originally named Jersey Mike’s when Peter Cancro went to work there as a teenager. The owner decided to sell the shop in 1975 and Cancro decided he would buy it to see if he could make this struggling sandwich shop pay off.
Today, Jersey Mike’s Subs is a successful franchise of more than 1,000 locations across the US. Cancro is still the owner and CEO of the company, which specializes in freshly made submarine sandwiches, made to order. The company also features a “Mike’s Way” specialty sandwich that has a “secret” dressing applied to it.
Entrepreneur recently listed Jersey Mike’s Subs as #13 on their list of America’s Top Growing Franchises. The company offers third party financing to help cover start up costs, inventory, and equipment. Jersey Mike’s Subs had annual revenue in 2014 of $525 million