2024 Power 100
NJBIZ STAFF//February 19, 2024//

As founder and chief executive officer of Jersey Mike’s, Cancro has transformed the Wall-based brand from a single sandwich shop in Point Pleasant into a sub powerhouse. With more than 3,000 locations nationwide, Jersey Mike’s is competing in a $42.2 billion dollar space that includes heavyweights like Subway, Jimmy John’s and Firehouse Subs.
In the immediate future, Jersey Mike’s growth agenda remains aggressive, with Cancro telling QSR last fall the chain expects to open 350 more locations this year and about the same number come 2025. By 2026, he anticipates between 400 to 450 opens before settling into a cadence of about 15% annual unit growth after that (roughly 10 to 15 openings per week).
Ultimately, Cancro hopes to have 10,000 units, a goal he feels is achievable thanks to the brand’s focus on quality, training and a robust support system for franchisees.
Despite having a similar level of consumer awareness with big chains like Panera Bread and Arby’s, Cancro said Jersey Mike’s doesn’t “feel like we’re this major success” because “we’ve kept it humble and we’re pushing harder than ever on the details, on the basics.”
Over the past year, Cancro and company hit several milestones, including launching three Jersey Mike’s outposts in Alaska, giving it a presence in all 50 states. It also kicked off 2024 with plans to go international, entering into an agreement with one of Canada’s largest restaurant operators to open 300 shops across the Great White North by 2034.
The last 12 months also brought the brand high-profile partnerships, including being named as the Official Sub Sandwich of the National Hockey League, as well as a sponsorship of the Harlem Globetrotters U.S. tour.
Along the way, Cancro has made sure Jersey Mike’s continues to prioritize the communities it serves, fundraising for organizations like Feeding America, the United States Tennis Association Foundation and Best Buddies International.
Cancro, who is chairperson emeritus of the Hackensack Meridian Jersey Shore University Medical Center Foundation’s board of trustees, also made a generous donation in June 2023 to help the hospital system create an Institute for Nursing Leadership and Practice Excellence named after his mother Sheila, a former nurse’s aide.