Thats the motto. They see what local charity were supporting within store materials, but we dont push the people. Hes the founder of Jersey Mikes Subs, which now has over 1,000 franchises. Everybody helping each other rise up, if you will. Theyre looking out to help one another. It was negative sales. Nobody knows. Now, Jersey Mikes has over 2,000 stores across the globe and is closing in on over $2 billion in annual sales. Harry Jaffe has been a journalist in Washington, D.C., for three decades. Code name Jedburghs three-man teams parachuted behind enemy lines onto the shores of occupied France during the nighttime hours before D-Day. How well are the other businesses doing? Peter Cancro could be the poster child for the concept of doing well by doing good. We opened 210 stores in 2020 and were going to open 250 new stores in 2021. The model with COVID fits right in with whats happening. Sales started to rise, and in 07, 08, the company turned around. A light switch went off. https://www.mashed.com/149053/the-untold-truth-of-jersey-mikes Theyre so incredible. I could see it in their eyes, their confidence, their energy, they care about the people there. Contestants can create their best snow sculptures and submit a photo for an opportunity to win a prize from Greenwich Parks and Recreation. We became friends and he came into the company in 2008, but thats when I met Mr. Monaghan and I said, Ive got the book on every single page highlighted about what happened to him. It helped me through that time. They had to do three things every single day to be effective. You can tell right away when you meet someone. We were ahead and ready for this because of our investment two years prior. Everything at Jersey Mikes has a process down to every single detail. We keep it real. 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. You dont have a certification. You didnt have 30 years in the industry. Your subs are good. That was second to the people, to the giving in the community. In 1988 pro wrestling magnates Linda and Vince McMahon were holding their tournament at Trump Plaza in Atlantic City. 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. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. One of the things about Jersey Mikes is we have these off the menu products, so #12, the old #4, the subs that used to be that people know about. People are starting to hear about that. Its a whole culture. It was a lot of emotion in the room, owners and peers, and it was an unbelievable time. Youve got to work with them. Donald Trump greets Small Business Administration head Linda McMahon during an event celebrating Womens History Month last month. It was very effective. I sensed and knew that to make the subs a slice of fresh, theres a lot of training involved. We were willing to help people that were out of jobs and work, and then we kept pushing. My brother worked there the year before I did and he told the owners, My brother, I know hell work hard. Out there The Greenwich Library is holding a Zoom conversation with world-renowned presidential historian and Pulitzer Prize-winning author Doris Kearns Goodwin at 7 p.m. Jan. 28, followed by an audience Q&A from 8 to 8:30 p.m. Its funny how I pick it up and I have a moment. Most of us have been involved in youth sports or group encounters, whether its in the band or music. I paid for everything. Thats part of it and getting people to come along. 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. We find the site next to Starbucks, Chipotle, Panera Bread, or the Five Guys. Thats what you tell the kids. 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. Come down with me. 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. 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. Very simply, we work hard. How did you get where you are now? I said, Do you really want to know? I was standing in a little 400 square foot office, at Jersey Mikes store alone and I was saying, Lord, here I am. I could hold them off for a week or so, and thats when I went out trying to raise the capital. We want to be involved in everything. July 1980 - April 2000. It was the original store at fifteen seats, and all takeout. I want to talk about your leadership style because thats an important part of this story. Its not checking on them, its not filling out sheets, but coming in and working with them. Thatd be $40 million, 100 a year that we have to invest in our people, in our future. 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. I was down there and I said to a fellow, Where are you from? I came up from Fort Lauderdale. Its like football season. Its why youve had success. He remains by Trumps side day and night, at times pushing aside reporters and protestors. They said, Let me have, then a number. They both have places in Florida. We went around the country to 40 different co-ops and had hundreds of people in the room. Former p at NYC Police Department. Newsmax leaned to the right before it was even slightly cool. Thats all I ever say and thats how we win by serving our public. Organizations will fail without transformative leaders. Were inundated in the summer. The town reserves the right to use the photos in town media. We think well have about 25 stores opening up within 2022 and then we hope to get the 50 to 100 deals a year. Whats empowering that people love is when they can be real and genuine, and not some script by the company. Im like, What is going on? In January of 06, it was one of the lowest points, believe it or not. What are you going to do differently now that COVID is here? Hoyt came on board in 2008 and at the time Dominos was in a downturn, they were not doing well. Its never been done before as far as we know. Thats our business. Its part of what I saw and received as an athlete. Anyway, seventh place, well take it, but we cant get hung up on the articles or the clippings. It could be a small little charity Ive never heard of. She was very confident and she had the energy. They want to be part of it, they know making a difference in peoples lives. What started off as 1 million free subs turned into 2 million founder, Peter Cancro said. We started growing again in 94, 95. Before you sign the lease, youve got to know what its going to cost. It has also trained thousands of health care workers in infection prevention and control, disaster preparedness, and mental health and psycho-social support. Its amazing how many bills you can pay when you dont have any payroll. I go, Im not alone. This is going to set the conditions for our rapid growth.. Its mid-December on a Saturday and be part of it. It started to happen. You step back a little bit and everything starts coming. You referenced it a couple of times in the Coach Rod Smith Ownership Program. I would look at this thing and Id be off the wall. 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. They see that leadership and they say, Ive got to get on this train.. 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. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. People say, I could never do anything. Rudy. As we said, we see 21, 22 and 23, bigger and stronger than the last ten. Subway is not even on it. We were talking before we started and you said youre coming up on 50 years where youve been in this business and from the start of Mikes Subs. Like Treasury Secretary Steven Mnuchin, Feinberg took the Trump plunge during the campaign, when The Donald was still considered a clownish long shot. We had somebody going through it. Since buying the original location of what became Jersey Mikes in Point Pleasant, N.J. in 1975, at the age of 17 thanks to a loan from his football coach Cancro has expanded the restaurant to more than 2,000 units open or in development. We went out and gave 50% off, which the people saw as a gift to them. Its always a learning process and Im the one that goes out every day and says, I want to learn. We had amazing volume and did incredible business to the Jersey Shore. Thats what brings everything together. Look at your community and nominate people that are doing incredible things. Its why you have been a leader that has rallied a community behind you. The restaurant joins Taco Bell and other big brands offering help Fox Business 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. 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. 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. In 2019, it was over $7.5 million. It was owners, assistant managers and managers. Peter was named to the 2021 Power List by Nations Restaurant News. Do you expect them to match that drive? Their only directive was to win the war at all costs. WebFormer Union representative at NYPD Retired. The right team assembled and kept working and slowly but surely, it started rising up. I need to explain this for the readers because how this ranking is done is important because the ranking is completed on a survey of the franchisors based on five criteria. I told my story about how I got started. An expert is, were open, so you sell a lot of stuff. Ill start working with the crew. The exact formula or science, as soon as you figure that out, the better. She met Hoyt Jones. Just a quick note, anytime I change or say, Lets do it this way, I say why and explain it. A friend of mine, Sarah Palisi Chapin, went to Purdue. It instantly builds this credibility. Weve spoken a lot about the people. There was this one young lady who started giving blankets to homeless people. We talked about bringing in top-quality people, but you have made some very deliberate and conscious decisions to invest in the best people in the organization and the up-and-coming leaders of the next generation of owners. 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. Today, Jersey Mikes has over 2000 stores across the globe, and is closing in on over $2 billion in annual sales. I say, Did you play any sports? What are you doing after this? I challenge them to see where their lives are and that, Youve got a future here. Thats everything. This is an amazing story, but it started in 1971 at fourteen when you got a job at Mikes Subs. This is every franchise. 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. Its one step, you have a vision and if you can execute on it, it doesnt matter what youre doing, you put your head down and you will get there and succeed. It starts out with small things. It starts with a single sub shop on the Jersey Shore. Thank you so much. When you look at this, how do you stay grounded? Peter Cancro (center), Founder & CEO, Jersey Mikes Franchise Systems, Inc., celebrates the companys 2022 Day of Giving at Jersey Mikes in Point Pleasant Beach. Years back, we put a wreath on every tomb in Arlington Cemetery. There are stories from employees of where youve come in and you got behind the counter and shown them, I can do it faster. Whenever I go, I look up at the menu because I dont know what it is, some of the numbers and when I left, there was 1 through 9. It had all of them listed. He used his private equity firm, Cerberus Capital Management, to scoop up both Chrysler and GMC in 12 months, held them and sold them. In fact, its easier to accomplish with most of the dining rooms closed, so remodeling is ahead of schedule. We set up the financing for them and with them. You know how to do every job in that store and you do it well. 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. Cancro started Copyright 2023 Apple Inc. All rights reserved. You go out every day and you make a difference. Lower the costs, make sure the business model works and we have one of the most impressive business models in the industry, as far as what it costs to open and then what we gross. You hear about millions and millions served. They talk about these kids and it was funny in the 70s, they say, These kids today, you dont understand. The 80s, the 90s and still now, all these kids are great. What is the landlord doing for work? Its amazing. They both like burgersLorber told an industry group last year his first stop after buying a Rolls-Royce was McDonalds drive-thru. 1 of 3. Dont walk when you can run philosophy. Your training programs are a hallmark and again, unique to the industry. I welcome them to run ahead of me. 1979 - 2000. Its a whole team thing. You have a tremendous drive. In 1991, we were on a rise. You have the international component sitting in Australia too. The very first week, we cut our royalty and marketing fees in half. Its incredible service and support, but it has to be. Peter Cancro, CEO of Jersey Mikes Subs, in Houston during an October visit. Start being yourself. Where the need was, we went after it. 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 Being ready, being prepared, focusing on all the details and thats how victory comes. Its expanded a bit. What are we doing next month? They love showing up and making it happen because they were scared. Its amazing to see all of our owners embrace that giving spirit and thats the most gratifying thing for me in business. 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. I look at this list and its so impactful because its your owners who are saying, I love this company, and this is not just restaurants. We touched the core. Do people come in and say, Thats Peter.. Use Next and Previous buttons to navigate. Out there The YWCA Greenwich and over 30 community partners will celebrate the life of the Rev. We went down and through the years, weve been involved, I dont know how many years now, but it was pretty cool. We drive the real estate. 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. It was the leadership thing, taking charge was pretty easy for me. When I meet somebody, I know if we want to go forward with them or not. Since then Linda has become one of Trump's closest female friends. 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%. This is our business. The training is cool. 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? Where are you going? Hate is too great a burden to bear., the Rev. Mr. Cancro, the founder and chief executive officer of Jersey Mikes Franchise Systems, is a graduate of Point Pleasant Beach High School. And more importantly, should tuition go toward supporting bars around the XL Center? NEPTUNE - Jersey Mike's founder Peter Cancro and his wife Tatiana have given a $10 million gift to the Hackensack Meridian Health Foundation. Amazing stories come in. It is impactful and it is certainly noticed by everybody. It doesnt matter what you did before. Trump trusts Feinberg so deeply that he assigned him to review the intelligence agencies that thus far have bedeviled the new president. I was a good fast slicer. The only way to rapidly grow at the rate that you have is to take that input and all that data out from the stores and then put it back into the process. Can you talk about those training programs and why are they so important to you and the business? We care about it deeply and teach our children the value of freedom. Thats pulling people along. McDonalds at eleven, KFC at 25, Jimmy Johns at 72, and Firehouse Subs at 78. Thats how it started, thats how we got together. 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. Trump craves positive stories in the news media; but the news outlets dont always deliver. Its funny, you say from a small company, so in 75, it was one store. Peter, this has been an amazing and impactful conversation. #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. I know they say were divided now, but I disagree. Thats our investment. Were four years in and youre at the 2,000 stores that youre closing on the $2 billion. Peter Cancro could be the poster child for the concept of doing well by doing good. Peter Cancro has been working as a Chief Executive Officer at Jersey Mike's Subs for 52 years. We said, This is starting to grow.. It was an extraordinary time. The business model has supported this being takeout only. I want to talk a little bit about how you assess businesses. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. I told that story to a national audience when Mr. Monaghan was there for a talk a few years back. 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? When youre an owner, things shift. If you think about it, the same culture, ethics, morals coming in with us. Its built into the price of opening the store and were proud of it. Thanks, Fran. Were one of the few companies that are very hands-on with everything. Trump made him director of Oval Office operations. Now, theres this process. Leadership is about getting people to do things because they wanted to, not because you told them. Before Breitbart, before Bannon, there was Newsmax and Christopher Ruddy. I enjoyed it. 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. Whats happening? Theyre going through tough times, individually or as a family. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. There are many different causes of people around the country giving of themselves to other people. Right away, I said, Youve got to hold onto your cash. One night, we had 1,000 people online going through the payroll protection where they had to figure it out page by page. Trumps public persona is brash and relentlessly social. You talked about bringing new people in. Cancro also has launched a program to provide funding for young restaurant workers who want to own their own restaurants. Its to see all those owners get it. Process improvement requires iteration. 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. Count me in. Youre investing three times more time into training than any other food service franchise. 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. I left that gentleman and I was back to ground zero and it was at the end of the week. In 1971 at the age of only 17, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. During the month of March, customers can make donations through the Jersey Mike's mobile app or onsite. The return is unprecedented in the industry. When I think about what you do, I think about Jersey Mikes and how you approach everything. We met in 2017. 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. If youre working with the old crew and its tough for them to maybe swallow, but it was a small nucleus of people. 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. Based in West Palm Beach, Newsmax is close by Mar-a-Lago, where Ruddy became a frequent guest. Peter Cancro, founder and CEO of Jersey Mikes Subs, pays a visit to the Jersey Mikes in Riverside on Sunday, Jan 10. How did you find out? You know how moms are, they know everything. We didnt start expanding until 87 and then we grew. 2251 Landmark Pl, Manasquan, New Jersey, 08736, United States. She checked it and I saw her pointing to it. My son used to race years ago. He is a white, non hispanic male registered to vote in Let me have the Cancro Special. We put it up on the menu, but it didnt sell enough, so its not about me. I say that during the rush. I stood behind the counter since I was fourteen years old, meeting and greeting people. 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. In business school, this principle sets the foundation of many different classes. 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. Number 8860726. When we were talking one time, you told me that this growth rate is going to continue over the next couple of years. This has been quite a journey from the high school football fields of the Jersey Shore to building a global franchise. Its $175,000 with marketing, with everything included. 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. I first found out about it from a friend, Edith Knowles, who lived in a nearby town. 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. He went through this. Everything that happened to me, happened to him. Everything I talked about before putting others first, subservient, leadership by example, it stands out. Thats where our heads are at. We talked about these couple of things. During tough times and problems, you can sit with a legal pad and try and work it out and ascertain, What should I do? The contest is open to Greenwich residents only. Youve got to know about the grease trap. I picked up the book, Pizza Tiger and read that. Martin Luther King Jr., A Testament of Hope: The Essential Writings and Speeches, Got a tip? This March, Jersey Mike's hopes to exceed last year's record-breaking national fundraising total of $20 million and help local charities striving to fulfill their missions and make a difference. How do we be genuine? We were perfectly set up for it. My toughest recession in beyond 2008. Whats the program and how are you selecting these individuals? It was only $15 million total, but it was all the money in the world back then. People say, How did you do it? It was a tough time, 91. You run fast and you have a lot of people following you. He came on board, we didnt call one person, but we had a lot of Dominos owners. Banks went out of business. In each market, restaurant owners select charities that support local neighborhoods and build a stronger community. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. Hats off to Mr. Hoffman and Mr. Baker for what they showed me. 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. I know the hospital workers are heroes and all that, but the families and kids. We give 3% of the sales for three years. We sent them subs and cookies. I have an aunt that was in a nursing home, so we made sure that we took care of her. What happens is you do it and people find out about it. 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 When they can be real and genuine, and it was the leadership thing, taking charge was easy..., should tuition go toward supporting bars around the XL Center them and with them Subs. 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