Fortune· 2h ago· 1 min read
Peter Cancro was still in high school when he took a leap of faith and took out a six-figure loan to buy a small sandwich shop on the Jersey Shore where he had worked since he was 14.
By the time Cancro joined what was then called Mike’s Subs, the shop, started by Mike Ingravallo in 1956, was already a mainstay of Cancro’s hometown of Point Pleasant, N.J. But Cancro’s vision would later turn the small operation into Jersey Mike’s—a national chain with 4,000 locations open and under development .
As the sub chain approaches a potential blockbuster IPO set to value the company at about $8 billion and bring in at least $1.1 billion in immediate proceeds, here’s a look at how Cancro helped turn a mom-and-pop sandwich shop into a franchise giant.
Cancro, born and raised in Point Pleasant, was a normal teenager with a knack for business from an early age. At only 10 years old, he was…
Continue reading at FortuneDiscussion
Be the first to comment.
Never miss a headline
Get breaking Nigerian and world news straight to your inbox.
Related Articles
States want to tax the rich less. They're taxing your purchases more.
15m ago
Read MoreThey thought they'd be retiring. Instead, they're grandparenting full time.
20m ago
Read More
Top Boko Haram financial operator, male children surrender in Borno
26m ago
Read More
5 big analyst AI moves: Several top picks named into Q2 earnings
30m ago
Read MoreBitcoin price holds above $64,000 as traders brace for upcoming Fed decision
34m ago
Read MoreYears after basic income, participants share how their finances have changed
28m ago
Read MoreLatest in Business
Travis Kalanick says he's the only CEO with a 5-minute jet ski commute
Business Insider · 30m ago
Jon Sumrall Brings The Passion To Florida Gators’ Football Program
Forbes · 30m ago
French firefighters battle to keep blazes from Bordeaux
Investing.com · 41m ago
Paramount and Warner Bros pause $110bn merger amid legal challenge
BBC Business · 2d ago
Police hunting for Berlin Pride attacker name Islamist suspect
Investing.com · 1h ago
Africa facing $10-$20 billion economic hit from ’super’ El Niño, AfDB climate chief warns
Investing.com · 53m ago
US and Japan join Philippines for South China Sea military drills
Investing.com · 1h ago
AI is quietly becoming an unofficial and potentially unwanted 'third' in relationships
Business Insider · 1h ago
Most Read Today
Nigerian students lament delay in NELFUND upkeep allowance
Premium Times · 4d ago
Form 144 INSMED INC For: 24 July
Investing.com · 2d ago
Spain wins the World Cup by beating Argentina 1-0 on Ferran Torres' goal in extra time
CNBC · 6d ago
50 Cent’s crew member among drug dealers jailed for over 160 years
PM News · 3d ago
Form 4 United Therapeutics Corporation For: 24 July
Investing.com · 2d ago
Form 4 Snowflake Inc For: 22 July
Investing.com · 3d ago
Alys Rivers will be a key player in 'House of the Dragon' if her story follows the plot of 'Fire and Blood.' Here's what to know.
Business Insider · 6d ago
Gas-laden tanker catches fire as driver loses control in Lagos
Daily Post · 3d ago