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Jersey Mike's Subs Is Revving Up for Franchise Expansion

2/20/14 3:27 PM EST
Jersey Mike's Subs is a growing sandwich chain that's becoming a formidable player in the fast-casual space, but it's up against names like Subway and Potbelly. The chain has roughly 730 locations today, is looking to open roughly 200 units in 2014 and plans to have more than 1,400 locations in four years. Founder and CEO Peter Cancro bought the original store at age 17 and turned the company into a multimillion dollar business, with sales topping $400 million in 2013. Cancro believes Jersey Mike's could one day grow to as many as 10,000 locations in the U.S. and internationally, but going public isn't part of the plan. Cancro tells TheStreet's Laurie Kulikowski where Jersey Mike's sees further opportunity.
Stocks in this video: PBPB
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