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In 1975, Peter Cancro was in high school, working part time atMike's Subs in Point Pleasant, New Jersey. As senior classpresident and a varsity football player, he planned to study lawand political science at North Carolina University the followingautumn. But that all changed when his boss decided to sell thesandwich shop: With the encouragement of his mother, Cancro decidedto buy it.
Cancro had just three days to raise $125,000 and beat outanother buyer. A family friend offered the capital he needed inexchange for 50 percent ownership. An independent at heart, Cancroturned down the offer. Then his Pop Warner football coach agreed toput up most of the money, with Cancro's grandmother and anotherinvestor providing the rest.
Putting his college plans aside, Cancro managed the sub shopfull-time around his high school schedule.
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