Who Owns Jersey Mike’s?
Updated: May 29, 2023
Jersey Mike’s Subs, a popular American sandwich chain known for its authentic submarine sandwiches, was founded in 1956 by Peter Cancro. Born and raised in Point Pleasant, New Jersey, Cancro’s journey into the world of entrepreneurship began at the age of 17 when he started working at a local sandwich shop called Mike’s Subs. Little did he know that this humble job would ultimately pave the way for his ownership of one of the most successful sandwich franchises in the United States.
After working at Mike’s Subs for a few years, Cancro seized the opportunity to purchase the business in 1975. At the time, he was only 17 years old and still attending high school. To fulfill his ambitious dream of expanding the brand, Cancro borrowed money from family and friends, including a local football coach, to complete the acquisition. With determination and a clear vision, Cancro began transforming the small sandwich shop into what would later become Jersey Mike’s Subs.
Over the years, Cancro’s relentless dedication and commitment to quality propelled Jersey Mike’s Subs to new heights. His unwavering focus on using the freshest ingredients, baking bread in-house, and serving up delicious made-to-order sandwiches garnered a loyal customer base. Cancro’s hands-on approach and insistence on maintaining the authenticity and taste that customers loved set Jersey Mike’s Subs apart from its competitors.
In 1987, recognizing the potential for growth, Cancro began franchising the brand. This decision allowed Jersey Mike’s Subs to expand rapidly across the country while maintaining the same high standards of quality and flavor that had made it a local favorite. Today, Jersey Mike’s Subs has grown into a prominent franchise with hundreds of locations throughout the United States.
Despite its significant growth, Peter Cancro remains the owner and CEO of Jersey Mike’s Subs. His remarkable journey from a young sandwich shop employee to the successful owner of a nationally recognized brand exemplifies the American entrepreneurial spirit. With Cancro at the helm, Jersey Mike’s Subs continues to thrive, delivering exceptional sandwiches and fostering a culture of giving back to the communities it serves.
What Is Jersey Mike’s?
Jersey Mike’s is a popular American sandwich chain known for its authentic submarine sandwiches. Founded in 1956 by Peter Cancro, the brand has gained widespread recognition and a loyal customer base. Jersey Mike’s specializes in serving freshly made-to-order sandwiches, using high-quality ingredients and baking their own bread in-house.
The menu at Jersey Mike’s features a variety of cold and hot subs, including classics like the Italian, Club, and BLT, as well as specialty sandwiches like the Jersey Shore’s Favorite and the Chipotle Chicken Cheese Steak. Customers have the option to customize their sandwiches with a selection of toppings, condiments, and cheeses to suit their preferences. In addition to the wide range of sub sandwiches, Jersey Mike’s also offers wraps, salads, and sides such as chips and cookies.
One of the key aspects that sets Jersey Mike’s apart is its commitment to freshness and quality. The brand emphasizes using premium ingredients, such as high-quality deli meats, cheeses, and fresh vegetables. The bread is baked on-site daily, ensuring a soft yet sturdy foundation for the sandwiches. This dedication to quality has garnered a strong following among sandwich enthusiasts who appreciate the taste and consistency of Jersey Mike’s offerings.
Aside from its delicious sandwiches, Jersey Mike’s is also known for its philanthropic initiatives. Through its annual Month of Giving campaign, the company raises funds for local charities, partnering with customers to make a positive impact in communities across the country. This focus on giving back has become an integral part of Jersey Mike’s culture, inspiring both employees and customers to contribute to charitable causes.
With its emphasis on quality, freshness, and community engagement, Jersey Mike’s has grown into a prominent sandwich franchise with hundreds of locations throughout the United States. Whether it’s grabbing a quick lunch or catering for a gathering, Jersey Mike’s continues to be a go-to destination for sandwich lovers seeking a delicious and satisfying meal.
History of Jersey Mike’s
The history of Jersey Mike’s Subs dates back to 1956 when it was founded by a young entrepreneur named Peter Cancro. At the age of 17, Cancro began working at a small sandwich shop called Mike’s Subs in Point Pleasant, New Jersey. Little did he know that this experience would shape his future and lead to the establishment of one of America’s most beloved sandwich chains.
Recognizing the potential of the business, Cancro made a bold move in 1975. At the age of 17, while still in high school, he took the opportunity to purchase Mike’s Subs with the help of a loan from his football coach and other supportive individuals. With a vision for growth and success, Cancro was determined to turn the local sandwich shop into something extraordinary.
Under Cancro’s leadership, the shop underwent significant transformations. He expanded the menu, introduced new recipes, and refined the operation’s processes to ensure consistent quality. Cancro’s commitment to using the freshest ingredients and baking bread in-house became a cornerstone of the brand’s identity, distinguishing it from other sandwich shops.
In 1987, Cancro decided to franchise the business, enabling Jersey Mike’s Subs to grow beyond its initial location. The first franchise opened in Manasquan, New Jersey, and marked the beginning of a rapid expansion across the United States. The franchising model allowed Jersey Mike’s to maintain its commitment to quality and consistency while spreading its unique sub sandwiches to new markets.
The company’s popularity continued to soar, and Jersey Mike’s gained a reputation for its delicious sandwiches made with care and attention to detail. Customers appreciated the made-to-order nature of the sandwiches, allowing them to customize their meal to their liking.
While expanding its footprint, Jersey Mike’s Subs also became well-known for its philanthropic endeavors. Each March, the company hosts its annual Month of Giving campaign, where a percentage of sales from all locations is donated to local charities. This charitable spirit has become an integral part of Jersey Mike’s culture and has further endeared the brand to its customers.
Jersey Mike’s Subs is a privately held company, and the ownership structure is not publicly disclosed. Peter Cancro, the founder of Jersey Mike’s, remains actively involved with the company as the CEO and is widely known as the face of the brand.
It’s important to note that ownership structures can change over time, and new information may have emerged since my last update. For the most accurate and up-to-date information on Jersey Mike’s ownership structure, it is advisable to refer to the company’s official website or reliable sources for the latest details.
Jersey Mike’s Subs operates primarily through a franchise model, which has been instrumental in the brand’s growth and expansion. The franchise model allows individuals to own and operate their own Jersey Mike’s Subs locations while benefiting from the brand’s established name, proven systems, and ongoing support.
Here are some key aspects of Jersey Mike’s franchise model:
Franchise Opportunities: Jersey Mike’s Subs offers franchise opportunities to qualified individuals who are interested in owning and operating their own sandwich shop. Prospective franchisees go through an application process, which includes meeting certain financial requirements and demonstrating a commitment to the brand’s values.
Training and Support: Once approved as a franchisee, individuals receive comprehensive training and ongoing support from the Jersey Mike’s Subs team. This includes guidance in areas such as site selection, store design, operations, marketing, and employee training. The company aims to provide franchisees with the tools and knowledge needed to run a successful location.
Brand Standards and Quality Control: Jersey Mike’s Subs maintains strict brand standards and quality control measures to ensure consistency across all franchise locations. This includes guidelines for sourcing and using high-quality ingredients, baking fresh bread on-site, and adhering to standardized preparation methods.
Marketing and Advertising: Jersey Mike’s Subs implements national and regional marketing campaigns to promote the brand and drive customer traffic. Franchisees also contribute to a marketing fund to support these initiatives. Additionally, the company provides franchisees with marketing materials and support to help them implement effective local marketing strategies.
Profit Sharing and Fees: Franchisees typically pay an initial franchise fee, along with ongoing royalties and advertising fees based on a percentage of sales. The specifics of the financial arrangement vary and are typically outlined in the franchise agreement. Franchisees have the potential to earn profits based on the performance of their individual locations.
The franchise model has played a significant role in Jersey Mike’s Subs’ expansion across the United States. It has allowed the brand to rapidly open new locations in various markets while maintaining consistent quality and customer experience. The partnership between the corporate team and franchisees has contributed to the overall success and growth of the Jersey Mike’s Subs brand.
Growth and Expansion
Jersey Mike’s Subs has experienced remarkable growth and expansion since its inception. The brand’s commitment to quality ingredients, made-to-order sandwiches, and community engagement has helped it establish a strong presence in the competitive sandwich industry. Here are some key highlights of Jersey Mike’s growth and expansion:
Franchise Expansion: Jersey Mike’s Subs has expanded primarily through its franchising model. By offering franchise opportunities to qualified individuals, the company has been able to rapidly open new locations across the United States. This franchise-driven growth strategy has allowed Jersey Mike’s to extend its reach into various markets and increase its brand visibility.
Nationwide Presence: Jersey Mike’s Subs has grown from a single location in Point Pleasant, New Jersey, to hundreds of restaurants across the United States. The brand has established a nationwide presence, with franchise locations operating in almost every state. The continuous expansion has helped Jersey Mike’s gain recognition as one of the leading sandwich chains in the country.
Market Penetration: Jersey Mike’s Subs has focused on strategic market penetration, targeting both urban and suburban areas. The brand has capitalized on consumer demand for high-quality sandwiches and convenience, making its offerings accessible to a wide range of customers. By carefully selecting prime locations and adapting to local preferences, Jersey Mike’s has been able to successfully enter and thrive in various markets.
International Expansion: While the majority of Jersey Mike’s Subs locations are in the United States, the brand has also expanded internationally. Jersey Mike’s had opened a few locations in Canada and was exploring further international growth opportunities. This expansion into international markets has allowed the brand to introduce its sandwiches to a broader global audience.
Awards and Recognition: Jersey Mike’s Subs’ success and growth have been acknowledged through numerous industry accolades. The brand has received recognition for its high-quality food, customer service, and franchisee support. Awards have included rankings on prestigious lists such as Entrepreneur’s Franchise 500 and Fast Casual’s Top 100 Movers & Shakers.
Overall, Jersey Mike’s Subs has experienced significant growth and expansion over the years. Its commitment to quality, franchising model, strategic market penetration, and international expansion efforts have all contributed to its success as a prominent player in the sandwich industry.
Jersey Mike’s Subs is well-known for its philanthropic endeavors and commitment to giving back to the communities it serves. The company has developed a strong culture of philanthropy and actively supports various charitable causes. Here are some key aspects of Jersey Mike’s philanthropic endeavors:
Month of Giving: One of the most significant philanthropic initiatives of Jersey Mike’s is its annual “Month of Giving” campaign. Every March, the company designates a specific day as the “Day of Giving” when 100% of sales from all participating Jersey Mike’s locations are donated to local charities. The campaign encourages customers to visit the restaurants on that day and support the cause.
Subs for a Cure: Jersey Mike’s Subs is also committed to supporting medical research and raising awareness about various health issues. The company’s “Subs for a Cure” campaign is focused on partnering with local charities and organizations that support cancer research and treatment. During this campaign, a portion of proceeds from specific menu items is donated to these organizations.
Local Community Support: Jersey Mike’s franchisees are actively involved in their local communities and often engage in philanthropic efforts on a smaller scale. This can include partnering with local schools, youth sports teams, and nonprofit organizations to provide support, sponsor events, or host fundraisers. This localized approach allows Jersey Mike’s to make a positive impact in the communities where its restaurants are located.
National Partnerships: Jersey Mike’s Subs has established national partnerships with renowned organizations such as the Make-A-Wish Foundation, Feeding America, and Wreaths Across America. These partnerships involve raising funds, awareness, and support for these organizations through various initiatives, including donation campaigns and special events.
Culture of Giving: Philanthropy is deeply ingrained in the culture of Jersey Mike’s Subs. From the corporate level to individual franchisees, there is a shared commitment to giving back. This culture is fostered through training programs, ongoing support, and encouragement to participate in local charitable initiatives.
Through its philanthropic endeavors, Jersey Mike’s Subs demonstrates a genuine dedication to making a positive difference in the lives of others. Its support for local charities, national partnerships, and the impactful Month of Giving campaign exemplify the company’s commitment to giving back to the communities it serves.
Pros and Cons of Jersey Mike’s
Pros of Jersey Mike’s:
High-Quality Ingredients: Jersey Mike’s Subs is known for using high-quality ingredients in its sandwiches, including premium deli meats, cheeses, and fresh vegetables. This commitment to quality contributes to the overall taste and satisfaction of their sandwiches.
Freshly Baked Bread: One of the standout features of Jersey Mike’s is its practice of baking bread in-house daily. This ensures that customers are served sandwiches on fresh, soft, and flavorful bread, adding to the overall dining experience.
Customizable Sandwiches: Jersey Mike’s allows customers to customize their sandwiches with a wide range of toppings, condiments, and cheeses. This flexibility ensures that each sandwich is tailored to individual preferences and dietary needs.
Philanthropic Initiatives: Jersey Mike’s Subs has a strong culture of giving back. Through its Month of Giving campaign and partnerships with charitable organizations, the company actively supports local communities, making it an appealing choice for customers who value businesses that make a positive impact.
Franchise Opportunities: Jersey Mike’s Subs offers franchise opportunities to individuals interested in owning their own sandwich shop. This allows entrepreneurs to benefit from the established brand name, proven systems, and ongoing support provided by the company.
Cons of Jersey Mike’s:
Limited Vegetarian and Vegan Options: While Jersey Mike’s offers a variety of sandwich options, including vegetarian choices, the menu may be limited for customers following a strict vegan or plant-based diet. The focus on deli meats and cheeses may not cater to the needs of those seeking more extensive vegan or vegetarian offerings.
Price Point: Compared to some fast-food sandwich chains, Jersey Mike’s Subs tends to have a slightly higher price point due to its emphasis on premium ingredients and freshly baked bread. This may make it less affordable for customers seeking budget-friendly options.
Limited International Presence: While Jersey Mike’s Subs has expanded into a few international markets, its presence outside of the United States is relatively limited compared to some of its competitors. This may make it less accessible for customers in certain regions.
Potential Variations in Service and Quality: As with any franchise model, there is a possibility of variations in service and quality between different Jersey Mike’s Subs locations. Factors such as individual management and staff can influence the customer experience, leading to inconsistencies across the brand.
It’s important to note that individual experiences and opinions may vary, and what may be considered a con for one person could be seen differently by others. Ultimately, personal preferences and priorities will determine whether Jersey Mike’s Subs is a suitable choice for each individual.
Competitor of Jersey Mike’s
Jersey Mike’s Subs faces competition from several other sandwich chains and fast-casual restaurants that offer similar types of menu items and cater to customers seeking quality submarine sandwiches. Here are some notable competitors of Jersey Mike’s:
Subway: Subway is one of the largest and most well-known sandwich chains globally. Known for its customizable submarine sandwiches, Subway offers a wide variety of toppings and bread options. It has an extensive network of locations worldwide, providing customers with convenience and accessibility.
Firehouse Subs: Firehouse Subs is a fast-casual sandwich chain that emphasizes hearty, firefighter-inspired sandwiches. It differentiates itself by offering a range of hot subs made with premium meats and cheeses, and its menu includes signature sauces and condiments.
Jimmy John’s: Jimmy John’s is a popular sandwich chain known for its quick service and “freaky fast” delivery. It specializes in simple, yet high-quality sandwiches made with fresh ingredients. Jimmy John’s offers a variety of sub-options, including classics and specialty creations.
Potbelly Sandwich Shop: Potbelly Sandwich Shop is a fast-casual chain that originated in Chicago. It offers a menu featuring toasted sandwiches, salads, and soups. Potbelly is known for its warm and inviting atmosphere, as well as its freshly baked bread and unique sandwich combinations.
Which Wich: Which Wich is a sandwich chain that stands out for its ordering system, which involves customers marking their desired ingredients on pre-printed sandwich bags. The menu includes a wide selection of customizable sub sandwiches, wraps, and salads.
These are just a few examples of the competitors in the sandwich market. Each brand offers its own unique approach to submarine sandwiches, and customers’ preferences may vary based on factors such as taste, location, convenience, and brand loyalty. Jersey Mike’s Subs distinguishes itself through its commitment to using high-quality ingredients, baking bread in-house, and its philanthropic initiatives, which can contribute to its appeal among customers seeking a premium sandwich experience.
Frequently Asked Questions
As a privately held company, Jersey Mike’s Subs is not required to publicly disclose its ownership structure or financial information in the same way that publicly traded companies do. Detailed ownership information may not be readily available to the general public. It’s best to consult the company’s official website or reliable sources for any official disclosures or updates regarding ownership.
As a privately held company, Jersey Mike’s Subs does not offer public investment opportunities through stock trading. The company’s growth and expansion are primarily driven by its franchise model, which allows individuals to own and operate their own Jersey Mike’s Subs locations.
No, Jersey Mike’s Subs is a privately held company and is not publicly traded on stock exchanges. The company operates primarily through a franchise model, allowing individuals to own and operate their own Jersey Mike’s Subs locations.
Peter Cancro, the founder of Jersey Mike’s Subs, remains actively involved with the company as the CEO. However, it’s important to note that ownership structures can change over time, and it’s recommended to refer to the company’s official website or reliable sources for the most up-to-date information on the ownership of Jersey Mike’s Subs.
The ownership structure of Jersey Mike’s Subs is not publicly disclosed. Peter Cancro, the founder of Jersey Mike’s, remains actively involved with the company as the CEO. However, it’s important to note that ownership structures can change over time, and it’s recommended to refer to the company’s official website or reliable sources for the most up-to-date information.
In conclusion, Jersey Mike’s Subs is a privately held company, and the ownership structure is not publicly disclosed. The founder, Peter Cancro, remains actively involved with the company as the CEO and is widely recognized as the face of the brand. However, ownership structures can change over time, and it’s possible that new information about the ownership of Jersey Mike’s Subs has emerged since then. For the most accurate and up-to-date information, it is advisable to refer to the company’s official website or reliable sources.