Restaurant Profile
Jersey Mike's
“A sub above.”
About
Mike Manzo opened "Mike's Subs" at the Jersey Shore in Point Pleasant, New Jersey in 1956. The shop became a local institution for its freshly sliced deli meats, provolone, and the "Mike's Way" tradition of dressing subs with onions, lettuce, tomatoes, oil, vinegar, and spices. In 1971, a 14-year-old named Peter Cancro began working at the shop. When Manzo decided to sell in 1975, Cancro — still a teenager — secured a loan from his football coach and bought the business.
Cancro spent years developing a franchise system and rebranded the chain as Jersey Mike's Subs in 1987, emphasizing the Shore sub heritage. Growth was slow and deliberate through the 1990s. Then in the 2010s, Jersey Mike's became one of the fastest-growing restaurant chains in America, fueled by an authentic quality story (slicing meat to order, baking bread fresh), a loyal fanbase, and the broader fast-casual boom.
Jersey Mike's annual "Month of Giving" — where the chain donates 100% of sales on one day each March to local charities — has generated over $100 million in donations since 2011, and is frequently cited as one of the most impactful single-day charitable events in the restaurant industry. In 2023, Blackstone acquired a majority stake in Jersey Mike's, valuing the chain at roughly $8 billion.
Revenue history
| Year | Revenue |
|---|---|
| 2019 | $1.60B |
| 2021 | $2.00B |
| 2022 | $2.60B |
| 2023 | $3.00B |
Estimated system-wide sales. Jersey Mike's was majority-acquired by Blackstone in 2023 at an ~$8B valuation.
Signature Items & Price History
Launch price and year, historical price milestones, and how the item's price growth compares to U.S. CPI inflation over the same period.
#13 The Original Italian (Regular, 6-inch)
Provolone, ham, cappacuolo, salami, and pepperoni, served Mike's Way with onions, lettuce, tomatoes, red wine vinegar, oil, and spices.
Historical prices
| Year | Price | vs. Prior |
|---|---|---|
| 1956 | $0.35 | — |
| 1975 | $1.00 | +185.71% over 19yrs |
| 1987 | $3.99 | +299.00% over 12yrs |
| 2000 | $5.49 | +37.59% over 13yrs |
| 2010 | $8.99 | +63.75% over 10yrs |
| 2019 | $10.99 | +22.25% over 9yrs |
| 2025 | $14.99 | +36.40% over 6yrs |
Price growth vs. CPI inflation
The original menu item from Mike Manzo's 1956 shop. The jump from $0.35 in 1956 to $3.99 in 1987 reflects both inflation and the shift from a local corner shop to a polished franchise concept. From 1987 onward, price growth has meaningfully outpaced inflation — partly reflecting the fast-casual premium Jersey Mike's has built.
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