https://www.mashed.com/149053/the-untold-truth-of-jersey-mikes He remains by Trumps side day and night, at times pushing aside reporters and protestors. It was very effective. My brother worked there the year before I did and he told the owners, My brother, I know hell work hard. 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. It starts with a single sub shop on the Jersey Shore. Count me in. 1979 - 2000. We'd love to learn more about you, your team, and your challenges.Talent War Group is ready to help. He wrapped in the real estate and the business and was able to package the whole thing. They all come in with one and then they grow from there. We want to be involved in everything. There are 350,000 graves. We went city to city and you would think that they would find out about it but for some reason, they didnt. I paid for everything. Its mid-December on a Saturday and be part of it. Thats how we go forward. Cancro was there to say hello and thank the employees for their hard work during the COVID-19 pandemic and for their dedication to giving to the community. Im just Peter, Im one of the workers. We rose up and then we sent $2.5 million out to the owners to give to their local community. How have you thought through that evolution of the company? Well go to one charity next year to Special Olympics. Even the crews. We give 3% of the sales for three years. Its a constant going into the stores and several times a month working with the crews. It was a great organization, but all of a sudden I was like, Whats going on? We were down the first week, like everybody else, like 45%, next week down by 45%. 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. We had to not do it. With little guidance and scarce resources, a few hundred specially selected, highly trained, innovative leaders turned the tide of the war. They see what local charity were supporting within store materials, but we dont push the people. Since then, Jersey Mike's annual Month of Giving has raised more than $67 million for local charities. "Every four years, dedicated athletes come together to compete at the Special Olympics USA Games, said Peter Cancro, Jersey Mikes founder and CEO. I met her for four minutes and I knew. Mr. Cancro, the founder and chief executive officer of Jersey Mikes Franchise Systems, is a graduate of Point Pleasant Beach High School. I want to talk about your leadership style because thats an important part of this story. I would love to. I want to give you a shot. Wreaths Across America is one of the many initiatives that you have, but a big one for veterans. Investment in people. I closed on March 31st of my senior year in high school. I enjoy watching your commercials. All the Manzos, the Cancros, there were four Cancros that worked at the shop. Its about $400,000. Peter Cancro could be the poster child for the concept of doing well by doing good. They had to be able to shoot, move and communicate. Were a training company, ongoing training and support. Every item on this page was chosen by a Town & Country editor. 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 Location. You referenced it a couple of times in the Coach Rod Smith Ownership Program. It was an extraordinary time. I said, Were going to talk about pulling people along, about putting others first before ourselves, but were going to talk about our giving culture. Now, theres this process. You might be on to something, says Arnie Kozak, a psychologist and the author of .css-gegin5{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:inherit;text-underline-offset:0.25rem;color:#9a0500;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}.css-gegin5:hover{color:#595959;text-decoration-color:border-link-body-hover;}The Awakened Introvert. The next day, you start the next drive. LeFrak has been a Trump guest at Mar-a-Lago for more than a decade. I had the #12, Cancro Special. I had never been on TV before with commercials, but I felt, Ive got to step up. Ive got to tell you, Im announcing the Coach Rod Smith Sponsorship Award because my coach gave me a shot. I would say that I see the same drive in you that you were probably when you walked in that door at fourteen years old. It was negative sales. What started off as 1 million free subs turned into 2 million founder, Peter Cancro said. Theyre going to say, Were giving 100%. Trumps public persona is brash and relentlessly social. Can you talk a bit about that initiative? We dont say, Would you like to give? They see it and they want to give because they want to give. "Philanthropy has Is 2023 the Year Looted Art Returns Home? I want to ask you and take it back to something that was very important to the Jedburghs back in World War II. We have a big training that Brian Loughran, our head of training, is putting on starting after the month of giving, which is on April, May. Everybodys affected by COVID, but your location, your geography affect you in many different ways, whether it be local regulations or state regulations. 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. It instantly builds this credibility. How many breads are going to go out the door? He likes large crowdsthe largest crowdsand even after the election, he's organized campaign-style Thats $150 million. How well are the other businesses doing? Youve got a small family nucleus that youre a part of. A leadership style is pulling people along and its amazing. Its amazing. 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.. I want to talk a little bit about how you assess businesses. What motivated you to start that? Its not checking on them, its not filling out sheets, but coming in and working with them. Let me have the Cancro Special. We put it up on the menu, but it didnt sell enough, so its not about me. 20 Things You Didn't Know about Jersey. Every single owner got funded. Peter Cancro bought the first Jersey Mikes at the age of 17, as a high-school senior who had spent previous summers working at the Point Pleasant, New Jersey sandwich shop. She was very confident and she had the energy. 2251 Landmark Pl, Manasquan, New Jersey, 08736, United States. How do you motivate the owners? Go, give away the food, go to the hospitals, go to the police, the first aid. Host of FOX Business Network's The Claman Countdown, Liz Claman is joined by Jersey Mike's Subs CEO & Owner, Peter Cancro. Its going to be so touching, and no ones doing what were doing, sending a message like that. You see it affected us and then our stores were old and tired. Email Susie Costaregni at [emailprotected], The Dish: Founder of Jersey Mikes drops by Riverside store, Motherlode: When teenagers blame parents for iPhone-ruined lives, Budget committee considers cuts to police spending, road paving, 2023 Hearst Media Services Connecticut, LLC, Bumpouts in Byram? For me, its integrity. Its amazing how you hear that. It started to happen. No, theyre doing it out of their heart. The owners unbelievably kicked in as well. Theres no need to recreate it. I left that gentleman and I was back to ground zero and it was at the end of the week. As Ive said often, its starting to grow. Contact: Kyle Potvin, kpotvin@splashllc.com, 917-838-4500, View original content to download multimedia:https://www.prnewswire.com/news-releases/celebrate-jersey-mikes-13th-annual-month-of-giving-in-march-301757134.html, https://www.prnewswire.com/news-releases/celebrate-jersey-mikes-13th-annual-month-of-giving-in-march-301757134.html, Petrobras Payout Rewards Investors Who Ignored Lula Risk, Record retail theft puts pressure on Australian supermarket giants, UPDATE 1-Australia's Nitro Software recommends $360 mln Potentia offer, Defence contractors target Australia as it gears up to counter China, Asian Equities Swing Lower, Led by China Tech: Markets Wrap. In 1971 at the age of only 17, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. This is our business. The training is cool. 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. To me, youre someone who leads by example and weve seen the commercials. This has been quite a journey from the high school football fields of the Jersey Shore to building a global franchise. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. All of that helped us with a digital component, which you read about all the restaurants. Youre a public company, thats not for you., The moves we took first were to cut the fees, so the owners, were with you. Not that were not satisfied or whatever, but weve got to keep raising the bar. Its funny, you say from a small company, so in 75, it was one store. All year long, were involved in giving, but March is a special month where we hope we raise maybe $8.5 million or $9 million in one day and during the month people come in and they take a slip, they add onto the sub amount and give. Trust is the gold standard for Trump, and he trusted First Friend Barrack to oversee his Inauguration and also to introduce him the final night at Julys GOP convention. Its always a learning process and Im the one that goes out every day and says, I want to learn. 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. Well give all the proceeds. Its the small things and Im sure it was the small things that achieve victory way back when and its now as well. I see an unprecedented movement in our country, for that matter, around the world, where you could see in peoples eyes, theyre looking to serving one another. In 1975, at the age of only seventeen, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. If you bring them in and they demonstrate those, you can then train them. Peter Cancro, founder and CEO of Jersey Mikes Subs, pays a visit to the Jersey Mikes in Riverside on Sunday, Jan 10. Can you explain it? It was over $7 million in 2020 and the goal in 2021 is $8 million? Nobody knows. The next morning was a Monday morning and thats when I called the owner, I said, Whats going on? Trump craves positive stories in the news media; but the news outlets dont always deliver. All of a sudden I said, Were going to advertise on the news. We were on all the major network channels and the morning show news and we hit it hard. #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. That means were giving it our all. Its neat commercials coming out for it. I want to grow. I talk a lot with people I work with about people, process and technology. Jersey Mikes mission statement is giving making a difference in someones life, and its motto is raising up together.. The core of any good business and anything, a family, organization, team, businesses is good people. Can you talk about process development at Jersey Mikes and whos involved in that? Jersey Mikes has raised more than $28 million for charities since 2010. They challenged Trump in the Battle of the Billionaires, which he won and got to shave Vinces hair in the ring. Peter Cancro, board member of the Hackensack Meridian Health Foundation and Founder and CEO of Jersey Mike's Subs, was named to ROI Influencers: Power List 2021 Executives Kevin Slavin, CEO of St. Joseph's Health, a clinical and strategic partner of Hackensack Meridian Health, was named to ROI Influencers: Power People say, I could never do anything. Come down with me. I mentioned the nine of them as I defined them. A friend of mine, Sarah Palisi Chapin, went to Purdue. Like Treasury Secretary Steven Mnuchin, Feinberg took the Trump plunge during the campaign, when The Donald was still considered a clownish long shot. Were one of the few companies that are very hands-on with everything. He is a white, non hispanic male registered to vote in I saw a lot of our sales were coming from North Carolina and they lost 100,000 jobs. Whats going on? The parents are not wanting their kids to come in, but we made a safe environment. Harry Jaffe has been a journalist in Washington, D.C. for three decades. What happens is you do it and people find out about it. We dont call them franchisees, we call them partners, we call them owners. Can you talk about those training programs and why are they so important to you and the business? Youre seventeen. Thats part of it and getting people to come along. 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 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. No wonder the president asked his longtime buddy to chair his infrastructure operation, along with Steve Roth. When I think about what you do, I think about Jersey Mikes and how you approach everything. Thats something to watch to see the owners willing to give up an assistant manager or somebody to go out and be on their own. A whole sub is like, This is unbelievable. Still is. You hear about millions and millions served. You run fast and you have a lot of people following you. 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. Thomas Barrack, chairman of the Presidential Inaugural Committee, greets Vice President Mike Pence at Donald Trumps inauguration. Peter was named to the 2021 Power List by Nations Restaurant News. Schiller might be the only guy close to the president who isnt worth eight figures. 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. Its like football season. Its expanded a bit. Peter has built Jersey Mikes on a culture of giving and a commitment to its people investing over $150 million back into its store owners to update and modernize. Just You have that one documented step-by-step for potential new owners. In 1991, you borrowed some money. Thats always been the mentality and now were here to serve our owners. The return is unprecedented in the industry. When I go into the store, I go, I was right there with you at fourteen, sprinkling and wrapping. People say, How did you do it? Youre there for four years and in 1975, you find out the store is going for sale. Even our big corporate office and all these people, its very simple, every group that comes together, every national meeting, I talk about fresh onions, lettuce, tomatoes, fresh-baked bread, everybody in uniform, clean store and then share your life with the customer. Web63K views, 1.2K likes, 268 loves, 454 comments, 332 shares, Facebook Watch Videos from Jersey Mike's Subs: From our Jersey Mike's family to yours My speed increased tenfold. Its a whole culture. The owner put the place up for sale and we all knew, but you know how businesses are when its for sale, its quiet. 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. Lorber and Trump's friendship goes back 30 years in the New York real estate game. Donald Trump, Karen LeFrak, Melania Trump, and Richard LeFrak at an American Ballet Theater benefit at the home of Julia and David Koch in 2007. In this episode, I spoke with Peter Cancro. We talked about that in two episodes ago when I had on the authors of The Talent War, Mike Sarraille and George Randle and we said the best advice they ever got was, plagiarize what works. Its coordinated to the timeframe to open the store. I like what you said there about you have the book. /sites/all/themes/penton_subtheme_nrn/images/logos/footer.png, Meet the innovative, inclusive and industry changing leaders of the 2021 NRN Power List, 2023 Informa USA, Inc., All rights reserved, Q&A with Angel Velazquez, area director, Jersey Mike's, Read about Scott and Ally Svenson, founders, MOD Pizza, Allowed HTML tags: . Trumps security chief for the past 16 years, Schiller started as Trumps bodyguard in 1999, after a decade with the NYPD. Take it, replicate it and do it again. When I first started there, my voice mattered. The model with COVID fits right in with whats happening. Youve got to know about the grease trap. Are they looking for something in return? We had 180 hours and we were good. It increased like you wouldnt believe, but it was entire families that worked at Mikes. His work has appeared in Washingtonian, The Washington Post, Politico, L.A. Times, Yahoo News, NBC4.com, and Mens Health. Many franchise companies dont do what we do. They had to do three things every single day to be effective. "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. They showed me the way if you will. I first went out trying to raise the capital and I found out this is more difficult than I thought. All the books in school and everything, I dont know if they teach or tell you about this, but there were a lot of up and downtimes. You can tell right away when you meet someone. Before Breitbart, before Bannon, there was Newsmax and Christopher Ruddy. In this episode, Peter joins host Fran Racioppi to share his recipe for building a franchise empire, and his foundation on a SubAbove culture of giving and a commitment to its people investing over $150 million back into its store owners to update and modernize. I get right behind the counter, talk to the kids and say, How is it going? I start cleaning the grill, Ill go in and clean the bathroom. Code name Jedburghs three-man teams parachuted behind enemy lines onto the shores of occupied France during the nighttime hours before D-Day. Being ready, being prepared, focusing on all the details and thats how victory comes. It was fine. Weve won numerous national awards. (View/download b-roll). If you dont have the digital capacity, youre not growing. Thats what we do and were out in the suburbs, the soccer moms, middle-class income, but now coming in to more urban areas doing well also because people understand the value of our product. In 2019, it was over $7.5 million. 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. Peter said so. At some point, that becomes detrimental to the organization and inhibits growth, but you havent experienced that. Everything I talked about before putting others first, subservient, leadership by example, it stands out. That includes fundraisers held throughout March, the chains Month of Giving, including a Day of Giving in which 100% of sales go to charity, but it also includes a mentality of teamwork with franchisees. I was down there and I said to a fellow, Where are you from? I came up from Fort Lauderdale. We went out and thats the first time I went to see every single owner. Jersey Mikes itself is no charity, however: Its one of the fastest growing chains in the country, having increased systemwide sales by nearly 17% in 2019, and leveraging its mostly takeout model to thrive during the pandemic. But the people around him haven't changed much. Youre not above them, youre with them. All of a sudden, the banking environment in the Northeast was the worst hit, and around the country. Thats what you tell the kids. There were a couple of groups that wanted to do something, but they couldnt and I kept going. It doesnt have to always be sports. Bumpouts in Byram? I go, Im not alone. He went off with a doctorate degree and started delivering pizzas for Dominos. 100 Percent of Sales Fund Local Charities on March 29 "Day of Giving", MANASQUAN, N.J., Feb. 28, 2023 /PRNewswire/ --Hoping to raise a record-breaking amount for charity this March, Jersey Mike's Subs, known for its authentic fresh sliced/fresh grilled subs, asks customers to eat a sub and help a local cause. For more info and to register, go to www.greenwichlibrary.org. McDonalds at eleven, KFC at 25, Jimmy Johns at 72, and Firehouse Subs at 78. 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. Thats how it started, thats how we got together. When you look at this, how do you stay grounded? I hear what you do for the community. We think well have about 25 stores opening up within 2022 and then we hope to get the 50 to 100 deals a year. When youre getting involved, do you have financing? That was our way of saying, Were open. It worked. Her brother, Bud Thorne, was killed in the Battle of the Bulge. We keep it real. Its having a culture that people can win together. Thats everything. We may earn commission from links on this page, but we only recommend products we back. Thats the motto. Please join us and make a difference this Wednesday, March 30, when 100 percent of sales from all Jersey Mikes Subs locations will be donated to help raise up these athletes. The business could look completely different now. 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. I go to some of the wealthy people that live in the neighboring towns and told them about what I was doing. I picked up the book, Pizza Tiger and read that. You thought about going public because there were economic indicators of a downturn. We try and get involved in the community, make great products and great service. Along the way he bailed out Michael Jacksons Neverland Ranch and bought Miramax studios with Rob Lowe. We had an unbelievable app and investment in technology. For questions, contact Erin O. Crosby at [emailprotected] or call 203-869-6501, Ext. I got to the end of the line and I saw this young lady and there was something about her presence. You dont have a certification. You didnt have 30 years in the industry. This feeds three people. The price of that, they think its expensive, but no. I know they say were divided now, but I disagree. We just did it. I would look at this thing and Id be off the wall. Were very strong on that. As soon as I said it, now the owners are happy. 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. Peter, thanks for joining me. Thats the movement that I feel weve started and we want to keep it going nationwide. Jersey Mike's Subs Careers \u0026 Jobs - Zippia. We were there. We set up the financing for them and with them. If I could first start off with thank you for your service with the military and thanks for your service to our country. Where their heart is drawn then thats the charity that they support. Out there Actor, director, producer and Americares board member Tony Goldwyn, a New Canaan resident, will host an Americares virtual volunteer event to commemorate the Martin Luther King Jr. National Day of Service. Everything thats rung up goes to that local charity. Trump rewards loyalty, and Rudy has been steadfast from the gate. I said, Weve got to do something. We have the capital, so I pivoted. The grandson of Lebanese Christian immigrants, Barrack built a fortune from nothing and now manages $60 billion in assets with Colony Capital fund, much of it for Arab investors. Were inundated in the summer. If you think about it, the same culture, ethics, morals coming in with us. Seen a celebrity? Donald Trump greets Small Business Administration head Linda McMahon during an event celebrating Womens History Month last month. Photo submissions must be sent via email to [emailprotected] and include: title and picture of sculpture, full name(s) of sculptor(s), and home address. Thats $75,000 per store. Because of our track record and the strength of our franchise company, we have lenders that are ready to go if certain people need a general requirement. We didnt start expanding until 87 and then we grew. At that time, I was an MBA student and so obviously I knew everything about business and I was like, This is insane. We found out about it. No one was lending money and we flatlined. Its almost over $100,000, the owner can make not losing a person. Can you talk a little bit about the transition in your mind as the owner and the founder from a small business to a medium business, to a large business? It was a lot of emotion in the room, owners and peers, and it was an unbelievable time. They both have places in Florida. The crew and them, they were into it. We track the sites. Now, were doing online virtual training. In 1971 at the age of only 17, Peter raised $125,000 to purchase the single store sandwich shop called Mikes Subs. How many times have you heard the coach say, Win or lose, I want you to hold your head high and walk off that field and know that you gave it your all, gave 100%? We dont demand it, but people see me running, not walking. That night, she said, Why dont you buy it? I was on my way up to bed, I looked at her and laughed, went up the stairs, but something clicked. In each market, restaurant owners select charities that support local neighborhoods and build a stronger community. Thats the culture that was there at Mikes. I want to get into that. We think in 2021, over $8.5 million or $9 million, Im not sure, its something like that. I laugh when you said that a little bit because on that Day of Giving, March 31st, 2021, the last Wednesday of March, every single store participates, but it is not a requirement. Sales started to rise, and in 07, 08, the company turned around. I say that during the rush. What are you doing with school? Its to see all those owners get it. Jersey Mike's Subs. Copyright 2023 Apple Inc. All rights reserved. We got all the stores looking good and sharp. She met Hoyt Jones. Anyway, seventh place, well take it, but we cant get hung up on the articles or the clippings. We said, This is starting to grow.. Despite his love of large crowds, the president consistently chooses home and family. The average person has 3 or 4 shops. My son used to race years ago. Always pull people along, never push them. I was a Financial Advisor at Merrill Lynch and we met at your office and you told me that the company had not yet hit its hyper-growth phase. Peter Cancro (center), Founder & CEO, Jersey Mikes Franchise Systems, Inc., celebrates the companys 2022 Day of Giving at Jersey Mikes in Point Pleasant Beach. How did you get through that? 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.
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