In each market, restaurant owners select charities that support local neighborhoods and build a stronger community. I look at the kids and I never say, You did a good job. I say, How did I do? They go, You did okay. It levels you with them. It starts out with small things. Feinberg made his fortune buying long shots. Your subs are good. That was second to the people, to the giving in the community. Mr. Cancro, the founder and chief executive officer of Jersey Mikes Franchise Systems, is a graduate of Point Pleasant Beach High School. I appreciate that. Martin Luther King Jr., A Testament of Hope: The Essential Writings and Speeches, Got a tip? In 1971 at the age of only 17, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. Are they looking for something in return? How would you describe your leadership style and how do you approach your interaction with all facets of the company because you have the corporate entity, but then you have the owners and the employees of the actual stores? Charities include hospitals, youth organizations, food banks and more. Im always about on the company, what are we doing this week? What did you do with your life? Thats how we recruit and retain, but to go from a small company to a large, Ive got to tell you back and Ill say it again, we showed up every day. Scene Jersey Mikes Subs founder and CEO Peter Cancro stopped by the sandwich shops location in Riverside last Sunday. Come on, were in it together. They can tell that I mean it because Ill sprinkle with them, Ill make the cheesesteak. We want to be involved in everything. Sales started to rise, and in 07, 08, the company turned around. People from within bought and grew, and got into their own store. People see through that, How are you? Sometimes when I go into business, I go, Why are you talking to me like that? Be genuine, be real. This is an amazing story, but it started in 1971 at fourteen when you got a job at Mikes Subs. She checked it and I saw her pointing to it. If youre working with the old crew and its tough for them to maybe swallow, but it was a small nucleus of people. Thats where our heads are at. Thats pulling people along. He remains by Trumps side day and night, at times pushing aside reporters and protestors. I want to talk a little bit about how you assess businesses. Hoyt came on board in 2008 and at the time Dominos was in a downturn, they were not doing well. Use Next and Previous buttons to navigate. Nobody knows. Its not just to do it, to do it. It was negative sales. Its having a culture that people can win together. Everything I talked about before putting others first, subservient, leadership by example, it stands out. You go out to raise the capital. When Trump Is at Mar-a-Lago, He's Among Friends, The Wealthy Donors Funding Trump's Transition, challenged Trump in the Battle of the Billionaires, which he won and got to shave Vinces hair in the ring, Your Privacy Choices: Opt Out of Sale/Targeted Ads. Ivanka trusted him to ensure Jared would return safely from his brazen trip to Iraq. We had our head down, we were working non-stop, growing and giving to the owners and all as a team, and sooner or later, we stepped back and evaluated. My brother worked there the year before I did and he told the owners, My brother, I know hell work hard. 104. The owner put the place up for sale and we all knew, but you know how businesses are when its for sale, its quiet. We went down and through the years, weve been involved, I dont know how many years now, but it was pretty cool. Thats our investment. Im like, What is going on? In January of 06, it was one of the lowest points, believe it or not. He likes large crowdsthe largest crowdsand even after the election, he's organized campaign-style You see so many founders of large companies and youll go in and say, Why do we do it that way? Youll get answers like, The founder said so. How did you find out? You know how moms are, they know everything. I enjoy watching your commercials. Lorber and Trump's friendship goes back 30 years in the New York real estate game. Youve got to put enough meat on, youve got to have a speed of service, youve got to be ready for the people coming in and now those tickets with the bags to go. It was over $7 million in 2020 and the goal in 2021 is $8 million? They showed me the way if you will. If people want to give, they see it, theyll give, but then of course, Wednesday, March 31st, we throw that out and were full-court pressing, the giving. I heard that and I said, Were going to do that. Not many companies are doing it and no one paid for all the retrofits. I went to visit every single owner and worked harder than I had ever done before. It started to happen. Whats the program and how are you selecting these individuals? We are proud to honor Mr. Cancro for his outstanding corporate and civic leadership, said Monmouth University President Paul R. Brown. In 1991, you borrowed some money. Its expanded a bit. Trumps public persona is brash and relentlessly social. Ive got to get out there and do it. Somehow, we pulled it off and kept pushing harder than ever during that time. I said, This doesnt sound right, and its funny how different companies went and got in trouble because they got the money. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. I was down there and I said to a fellow, Where are you from? I came up from Fort Lauderdale. Were going to go over $2 billion in sales. We drive the real estate. Although the pandemic forced the Day of Giving to be canceled in 2020, Jersey Mikes continued to raise funds switching its advertising from sports to news shows to drum up awareness and raising the equivalent of 22 million meals one weekend, which it gave to the charity Feeding America. Everybodys got the money, but who understands? You have that one documented step-by-step for potential new owners. I look at you and I say the top four, humility, curiosity, drive, integrity and this team ability, being in there to round out a five. You have to approach them as they did in Mikes when I first joined in 71, that my voice mattered and you raise up each other and raise up together. Were going to be handing out shirts nationwide, 2,000 Strong and right underneath, Make A Difference. You came into the business as a very young man. Thats when we broadcast that we were the first franchise company in America, in the history of franchising, to pay for all the retrofits. Were here to serve our customers and it trickles down if you will, that whole mentality, that attitude of putting others first before yourself. You mentioned here that you can stand across the counter, look across the table and say, Is this a good person who I can have in my organization? Youve encouraged people from all backgrounds to jump into this industry and join as an owner, whether they have restaurant experience, whether they dont, it doesnt matter. That is the culture. They want to be part of it, they know making a difference in peoples lives. We were like, Here you go, you dont have to pay this. We did it for 8 weeks and then 4 weeks at a discount as well. In each episode, I speak with trailblazers who have earned success through a dedication to talent development, preparation, introspection and the drive to get things done. Another initiative that you have is the Sub Abover Grants, which has been described as extraordinary people making a difference in their communities. They want to grow and do the same thing. What we started with the Sub Abovers is going out and saying, You know people in your own community, what are they doing? They nominate the folks that they are impressed with. (LeFrak was the other.). Cancro started It is impactful and it is certainly noticed by everybody. Who stands up to Chuck Todd on Meet The Press to blunt criticism of his New York buddy? Wreaths Across America is one of the many initiatives that you have, but a big one for veterans. I met her for four minutes and I knew. I immediately said, No, and I wish I could tell you why, but instinctively I said, Im not going to do it. I tell that to all the young folks that were looking to back in their store with a new coach, Rod Smith Award, I say, Dont take a partner.. We went out and thats the first time I went to see every single owner. Put down your clipboard and get behind the counter. You go, Whats going on in your life? Here on the show, in my work with veterans, we do so much analysis of this concept of hire for character and train for skill. Its part of what I saw and received as an athlete. Another fellow, unfortunately, his child committed suicide, so he got involved in education and awareness for that. To the mass, I said, This is how I got in. Weve got to keep proving it out every day. Somebody gave me a shot. Its incredible service and support, but it has to be. Can you talk about those training programs and why are they so important to you and the business? The contest is open to Greenwich residents only. People could see tables in front 8 or 10 feet away making the product, contactless pickup and the digital. It doesnt matter what you did before. Its to see all those owners get it. When youre getting involved, do you have financing? It was a lot of emotion in the room, owners and peers, and it was an unbelievable time. It doesnt matter how small, its always impactful. Host of FOX Business Network's The Claman Countdown, Liz Claman is joined by Jersey Mike's Subs CEO & Owner, Peter Cancro. We had an unbelievable app and investment in technology. You can see it right online. We went around the country to 40 different co-ops and had hundreds of people in the room. Im pretty proud of all of our team, our owners, the unbelievable efforts. I went to see this gentleman that was going to love it and he wanted to back me 100%, but then said he wanted to be a 50/50 partner. We started growing again in 94, 95. We were there. I got to the end of the line and I saw this young lady and there was something about her presence. Does it make common sense? When I heard that, I shrugged my shoulders and grinned and said, I guess well keep doing that. In 1975, when I went into business, I said, I was witness to Bob Hoffman, Hoffmans Ice Cream and Jack Baker from the Lobster Shanty, two local businessmen in Point Pleasant, that gave unconditionally to the youth, for the first day, to the community and I was a recipient of that and saw it firsthand. He began his What direction should I go? While youre thinking about that, while youre worrying about everything, you go in the morning and you go to work. Thats $75,000 per store. Video of fatal police shooting of CT man will not be released yet, Cannabis activists want more CT criminal cases dropped, expunged, CT DOT faces criticism following overnight tree-cutting, Haar: $1M in payouts approved, and CT still has a garbage crisis. Thats great, weve done this and achieved that. Sixteen years before Donald Trump debuted on The Apprentice, he jump-started his entertainment career at WWEs Wrestlemania IV. When I go into the store, I go, I was right there with you at fourteen, sprinkling and wrapping. One of the Gold Star Mothers whose son died tells a story at our national meeting and we made a video out of it and it was so heartfelt. It was small amounts for a small business. One at a time were going through speed of service, about getting the product fresh, making sure its perfect and then sharing your life with the customer. We like to call it the power of the sub sandwich. My speed increased tenfold. Today, that shop has grown into the over one-thousand-location sandwich franchise, Jersey Mike's Subs. Im just Peter, Im one of the workers. Since then, Jersey Mike's annual Month of Giving has raised more than $67 million for local charities. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. We found out about it. I was a good fast slicer. In fact, its easier to accomplish with most of the dining rooms closed, so remodeling is ahead of schedule. It started when we went out in October, November, and December 2019. Thanks, Fran. Its funny, you say from a small company, so in 75, it was one store. That is so great. Former p at NYC Police Department. To purchase the book a limited number of signed copies are available visit Dianes Books at www.dianesbooks.com. Ive got to tell you where it comes from. We were ahead and ready for this because of our investment two years prior. Not that were not satisfied or whatever, but weve got to keep raising the bar. I like what you said there about you have the book. If you shut the news off, theres so much negative and hate there, and youll see the good out in this country. I think about my time in the military and we trained for years, for minutes to hours of execution. And more importantly, should tuition go toward supporting bars around the XL Center? There are 2,000 stores at this point. We had somebody going through it. I stood behind the counter since I was fourteen years old, meeting and greeting people. Take it, replicate it and do it again. Once in a while, I say, Wow. I look at this and I had a talk with my mother who passed away years ago and I said, Mom, what do you think of this? Its a franchise ranking of not just restaurants, but all franchise companies. It doesnt matter how experienced you are in business, whether youre a young leader or a senior executive, you have to have a mentor. Very simply, we work hard. The parent company didnt apply, though Cancro told Nations Restaurant News that it didnt seem right. These leaders would be assessed using a specific set of character traits, but selected using the whole man concept, a combination of traits needed to simply get things done and win, no matter the challenge. They see what local charity were supporting within store materials, but we dont push the people. Cancro is the founder and chief executive officer of Jersey Mikes Franchise Systems, operating more than 730 restaurants in 35 states from New Jersey to California. During the month of March, customers can make donations through the Jersey Mike's mobile app or onsite. 3316 Bee Cave Road, Ste DAustin, TX 78746, Copyright talentwargroup.com 2023 | All Rights Reserved, https://Fortune.com/2020/03/16/how-i-got-started-jersey-mikes-peter-cancro/. Jersey Mike's Subs, with nearly 2,500 locations nationwide, serves authentic fresh sliced/fresh grilled subs on in-store freshly baked bread the same recipe it started with in 1956. What happened that night? Its funny, we did not go after it. I sensed and knew that to make the subs a slice of fresh, theres a lot of training involved. I was standing in a little 400 square foot office, at Jersey Mikes store alone and I was saying, Lord, here I am. Well go to one charity next year to Special Olympics. That was our way of saying, Were open. It worked. We get the right people. That means were giving it our all. Its neat commercials coming out for it. They want to come in and know you know what youre doing with municipality inspectors, with all these issues on the lease, the business terms. When Peter was just seventeen years old, his football coach gave him a loan that would allow him to buy the sub shop in Point Pleasant, NJ where he had worked since he was fou Thats a foundational element of your selection criteria because every store is partnered with a local charity and you encourage, almost require your owners to be entrepreneurs and givers into the community. Location. You cannot double 1,000 stores in five years and get there and then go from $1 billion to $2 billion in five years. I thought about it and I was looking at you through the course of this meeting and there was no hesitation in your voice, but sheer confidence in your eyes. We went city to city and you would think that they would find out about it but for some reason, they didnt. We were the first to integrate with Uber and DoorDash, meaning take the iPad off the wall and it goes right into our system. The restaurant joins Taco Bell and other big brands offering help Fox Business Its why youve had success. Now, Jersey Mikes has over 2,000 stores across the globe and is closing in on over $2 billion in annual sales. Entrepreneur Magazine has ranked Jersey Mikes #7 in the 2021 Franchise 500 Ranking. How many breads are going to go out the door? In 1991, we were on a rise. If you assess someone based on the character that they bring, a certain level of character traits, drive, resiliency, adaptability, humility, integrity, effective intelligence, team ability, curiosity, emotional strength, those are the nine that special operations forces assess and recruit on. We started to grow with the right people, with the great people, area directors, Dominos in California, Chicago, DC and Florida. It doesnt have to always be sports. Peter was named to the 2021 Power List by Nations Restaurant News. Jersey Mikes mission statement is giving making a difference in someones life, and its motto is raising up together.. We guide through the process of reviewing a lease, signing a lease, construction training. If you think about it, the same culture, ethics, morals coming in with us. Every single owner got funded. They see that leadership and they say, Ive got to get on this train.. The next morning was a Monday morning and thats when I called the owner, I said, Whats going on? Trump and LeFrak go way back, so far back they made their first fortunes in the same terrain: apartment buildings in the outskirts of Manhattan. Retracing the path of controversial Project Veritas founder James O'Keefe includes many stops in Connecticut. Everybodys affected by COVID, but your location, your geography affect you in many different ways, whether it be local regulations or state regulations. When Peter was just seventeen years old, his football coach gave him a loan that would allow him to buy the sub shop in Point Pleasant, NJ where he had worked since he was fourteen. This is a carousel. WebIn 1968 at age 14, Peter Cancro of Point Pleasant Beach, New Jersey, took a part-time job at Mike's Submarines, a neighborhood sandwich shop in the adjacent borough of Point The top ten, it says Taco Bell, Dunkin Donuts, UPS, Popeyes, Culvers, Kumon, Jersey Mikes at seven, Planet Fitness, 7-Eleven and Servpro. Peter Cancro, founder and CEO of Jersey Mikes Subs, pays a visit to the Jersey Mikes in Riverside on Sunday, Jan 10. Hearst Magazine Media, Inc. All Rights Reserved. We dont call them franchisees, we call them partners, we call them owners. Were inundated in the summer. I have to only think, what happened if you had to become a 50/50 partner with this person? Thats where I talked to you about it before. Its costs and fees, size and growth, support, brand strength, financial strength and stability. You didnt check all these boxes. I always say, Where did you go to high school? They look at you a little funny. They started putting wreaths on the graves at Arlington Cemetery and their motto is, Remember the fallen, honor those who serve, and teach our children the value of freedom. That last line struck a chord with our company, with me, that I said, Weve got to get involved.. Everybody said we should have a big celebration, but everything that happened negative in my whole career, building up to 1,000 stores, flashed in front of me. If you dont have the digital capacity, youre not growing. He wrote a book about the politics of gun law with Gabby Giffords and authored Why Bernie Sanders Matters, the only unauthorized biography of the Vermont senator. We think well have about 25 stores opening up within 2022 and then we hope to get the 50 to 100 deals a year. I say, Did you play any sports? Being ready, being prepared, focusing on all the details and thats how victory comes. Were going to be the national sponsor. Peter Cancro became the the fourth owner in 1975 of Jersey Mikes Subs, founded in 1956 on the Jersey Shore. The House select committee investigating the Jan. 6 Capitol riot has wielded former U.S. trade adviser Peter Navarros own boast about overthrowing the 2020 Jill Biden Says Joe Biden Is Ready to Run Again, Nikki Haley Announces 2024 Presidential Bid. Everything thats rung up goes to that local charity. Newsmax leaned to the right before it was even slightly cool. This is our business. The training is cool. It brings down the house anytime you watch it. #031: Head Of The Charles Olympic Medalist Gevvie Stone, #093: The Man Behind The Mask Ninja Warrior Flip Rodriguez (TYR Wodapalooza 2023 Series), #053: Your Next Stop Storyteller, Creator & Coach Juliet Hahn. DPW looks to fix 'dangerous' intersection, Greenwich residents on SoundWaters board, and other news, Greenwich prepares for snow storm, expecting 3-7 inches, In photos: Dragon Dance celebrates restaurant grand opening, Greenwich commission OKs historic ID of Samuel Ferris house, See inside Mikes Organic market after makeover in Cos Cob, In Photos: Greenwich Hospital teaches hands-only CPR, Poll workers honored at Central Middle and other local news, Greenwich budget committee considers cuts to public works, police spending, painting town hall, Here are 8 new Connecticut restaurants to try in March, Stamford's Alive At Five summer concert series announces 2023 dates, Two Greenwich residents among new SoundWaters board members, and other celebrations, Greenwich police: Man charged in Milford stalking also suspected of trying to kiss teen walking dog. Anyway, seventh place, well take it, but we cant get hung up on the articles or the clippings. We opened 210 stores in 2020 and were going to open 250 new stores in 2021. We may earn commission from links on this page, but we only recommend products we back. Its amazing. Working there for four years and seeing the business, I said to myself, No, I dont want a partner. When we hit that 2,000th store, were going back to the original store in Point Pleasant, which is now the training center. How did you get where you are now? I said, Do you really want to know? Youre not above them, youre with them. Peter Cancro could be the poster child for the concept of doing well by doing good. A critical thing in all businesses, small or large, is this equity dispersion and this equity distribution and a lot of people get this wrong. I go, Im not alone. Its like, You know what to do. Its the training and teaching them to make sure that its here too, that they dont fall off. Entrepreneur Magazine has ranked Jersey Mikes #7 in the 2021 Franchise 500 Ranking. It increased like you wouldnt believe, but it was entire families that worked at Mikes. Were very strong on that. Maybe if youre born with it, it does, he told The Real Deal, the Manhattan real estate publication, with a dig at his buddy. Peter Cancro has been in the same business for nearly 50 years. All the Manzos, the Cancros, there were four Cancros that worked at the shop. We showed up every day. They had to be able to shoot, move and communicate. We were going down, we were getting crushed. Based in West Palm Beach, Newsmax is close by Mar-a-Lago, where Ruddy became a frequent guest. Everybody helping each other rise up, if you will. "I would like to extend a personal invitation to you and your family to visit Jersey Mike's Subs throughout the month of March, and especially on Day of Giving when 100 percent of sales every penny goes to help a great local cause," said Peter Cancro, Jersey Mike's founder and CEO, who started the company when he was only 17 years old. Its what we continue to do going forward. We told the owners that. He has always done it with the approach of giving back to the communities where the chain operates, as well as looking after franchisees and corporate employees. In the White House at 6 p.m., hes happy to be alone in the private quarters eating a burger and watching TV news, says a Republican lobbyist who represents some of Trumps corporate insiders. Thats the entire days sales going to charity. Its funny, were filming some commercials for it and the owners are going to be in it. We buttoned the chinstrap, we got in the game every day and went after it. Were motivated and still more enthused than ever to go after it. They both have places in Florida. Peter was named to the 2021 Power List by Nations Restaurant News. Were going to have commercials out about franchisees, what they care about, and what they care about giving. Im not sure how bright he is. Thats how I got the job. Were a training company, ongoing training and support. Subway is not even on it. Its an unbelievable movement right now where people are together. Peter, thanks for joining me. Where do you determine what needs centralization at the headquarters level and the corporate entity versus what you decentralized down to owners? Were the most affordable, but youve got to figure it out. I tell a lot of people that I work with companies, teams, and organizations that nobody cares what you did yesterday. We had the tables and distance serving, mostly take out. Can you talk a bit about that initiative? Some franchise, its 5 to 10 days. I have an aunt that was in a nursing home, so we made sure that we took care of her. Where the need was, we went after it. I can do it better. Thats truly inspirational as a leader, especially in such a large organization, for someone to come in and be able to do every job. It was the leadership thing, taking charge was pretty easy for me. For our giving, a lot of businesses youll see are getting involved in charities and giving a portion of their sales, theyre like, Were going to give so much. It seems cause-related marketing is what the experts will tell you, you should be doing. You go out every day and you make a difference. I said, At the 2,000 stores, we are going to have a little gathering and be at the original store. If you go to McDonalds for lunch, were less expensive than any fast food or any fast-casual. She talks about giving over yourself is when you find out about yourself. It was around 2016, I looked around the conference table, I looked at Boyd, Mike, and some of the other folks, the team and I said, Were doing pretty well, and thats how it happened. We put up all the money, we signed the lease. How do we be real behind the counter? The culture of giving, the day of giving, the month of giving that Jersey Mikes has under your leadership exemplifies that. They say Dominos and Starbucks is a technology company, so are we. Peter Cancro Wife 2021, Wiki, Bio, Age, Net Worth, First Wife For questions, contact Erin O. Crosby at [emailprotected] or call 203-869-6501, Ext. We keep it real. Wreaths Across America. I had to lay off five people, including my brother because we were done. The quality of being honest, having strong moral principles and to do whats right when no one is looking, is I believe how youve built yourself, how youve built this organization. You referenced it a couple of times in the Coach Rod Smith Ownership Program. I felt strong about weve got to make a move and we did. What motivated you to start that? The owners unbelievably kicked in as well. She said, When are we going to open a store in Springfield, Mass? I said, When you open one. I looked right at her because I knew that I was going to go ahead with her and shes going to be one of the Coach Rod Smith Award recipients. 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