We were opening stores and we were investing everything we had back into growth. How do you sit across all these engines? Everybodys affected by COVID, but your location, your geography affect you in many different ways, whether it be local regulations or state regulations. I was down there and I said to a fellow, Where are you from? I came up from Fort Lauderdale. What motivated you to start that? Its making a difference in someones life. It was that Sunday night, so a week later and he said, We can do something, and he did. New people came in onboard and it wasnt a problem with me. July 1980 - April 2000. We find the site next to Starbucks, Chipotle, Panera Bread, or the Five Guys. Youve got to describe it too. I had to lay off five people, including my brother because we were done. Thats where our heads are at. We had the tables and distance serving, mostly take out. We dont say, Would you like to give? They see it and they want to give because they want to give. Somebody backed me. Working there for four years and seeing the business, I said to myself, No, I dont want a partner. It was all kinds of charities and not just one group. Jersey Mikes mission statement is giving making a difference in someones life, and its motto is raising up together.. His work has appeared in Washingtonian, The Washington Post, Politico, L.A. Times, Yahoo News, NBC4.com, and Mens Health. Hes clearly over-stimulated by all the exposure and seeking some introvert-like withdrawal., Granted, it's a stretch to imagine that a serial tweeting president who picks public fights with actresses, congressmen, or anyone he imagines has crossed him might be secretly craving seclusion and contemplation. 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. Is President Trump a loner? Her brother, Bud Thorne, was killed in the Battle of the Bulge. Since then Linda has become one of Trump's closest female friends. 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. We didnt start expanding until 87 and then we grew. Everything at Jersey Mikes has a process down to every single detail. Entrepreneur Magazine has ranked Jersey Mikes number seven on the 2021 Franchise 500 ranking. I appreciate that. For more info and to register, go to www.greenwichlibrary.org. There are hundreds of charities that we support and its all drawn from the heart. Can you talk about the communication structure that youve put in place with your owners for that feedback cycle so that youre constantly iterating and getting better? You go, Whats going on in your life? 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. Thats so cool that all the owners get it. You see it affected us and then our stores were old and tired. Were going to be the national sponsor. I could hold them off for a week or so, and thats when I went out trying to raise the capital. Come on, were in it together. They can tell that I mean it because Ill sprinkle with them, Ill make the cheesesteak. Banks went out of business. I heard about this and I wanted to be here. Its amazing, you could see it on our website, Wreaths Across America. 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 Youre not above them, youre with them. Its to see all those owners get it. We may earn commission on some of the items you choose to buy. He used his private equity firm, Cerberus Capital Management, to scoop up both Chrysler and GMC in 12 months, held them and sold them. The culture of giving, the day of giving, the month of giving that Jersey Mikes has under your leadership exemplifies that. Since then, Jersey Mike's annual Month of Giving has raised more than $67 million for local charities. Id like to try and buy. Ive got two people demanding contracts. Another fellow, unfortunately, his child committed suicide, so he got involved in education and awareness for that. When I think about you, I think about some of the core characteristics that define success. Trump trusts Feinberg so deeply that he assigned him to review the intelligence agencies that thus far have bedeviled the new president. Seen a celebrity? No one is allowed to introduce me to the customers as the owner. You run fast and you have a lot of people following you. What are the three things that you have to do every day to be successful and win? If I could first start off with thank you for your service with the military and thanks for your service to our country. They both have places in Florida. In 2019, it was over $7.5 million. 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. Peter Cancro, founder and CEO of Jersey Mikes Subs, pays a visit to the Jersey Mikes in Riverside on Sunday, Jan 10. 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. Now, were doing online virtual training. We had somebody going through it. This feeds three people. The price of that, they think its expensive, but no. He obviously relies on his children for advice and affection. The return is unprecedented in the industry. 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 enjoyed it. I got to the end of the line and I saw this young lady and there was something about her presence. Most of us have been involved in youth sports or group encounters, whether its in the band or music. It is impactful and it is certainly noticed by everybody. You talked about bringing new people in. Im not sure how bright he is. Thats how I got the job. They love showing up and making it happen because they were scared. 20 Things You Didn't Know about Jersey. There are 2,000 stores at this point. In 1975, at the age of only seventeen, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. Now, Jersey Mikes has over 2,000 stores across the globe and is closing in on over $2 billion in annual sales. Thats an investment in our owners. The next day, you start the next drive. Youve got to know exactly what its going to cost. In 2019, you opened 181 stores and in 2020, you were on track for 200. I knew they didnt have much money. He began his Its not just to do it, to do it. How do we be real behind the counter? But beyond family, loyal staff, and cabinet secretaries, who does Trump turn to when he needs to vent or seek guidance? It was over $7 million in 2020 and the goal in 2021 is $8 million? 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. Were the most affordable, but youve got to figure it out. They didnt know that certain businesses would be open. We forecast it over $10 million in 2022. We went out and thats the first time I went to see every single owner. Thank you. Its not so much compliance. I said, This doesnt sound right, and its funny how different companies went and got in trouble because they got the money. Despite his love of large crowds, the president consistently chooses home and family. Were on the Killington board of directors, the ski team. Its almost over $100,000, the owner can make not losing a person. This is going to set the conditions for our rapid growth.. 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. Do you get called out? Their owners sponsor them, the franchise owner. People see you running and then they want to run behind you. We were perfectly set up for it. Your training programs are a hallmark and again, unique to the industry. I said, I cant celebrate, but Ill be back for 2,000 stores and well celebrate then. Its funny how it seems a few years later, here we are at 2,000 stores probably by August of 2021. WebSupply Quality Product peter cancro political party the lowest price - uckg.or.ke peter cancro political party the lowest price. You go out to raise the capital. 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. 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. How can you tell them to give away all their product? How do you motivate the owners? 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.. How did you get through that? Web page addresses and e-mail addresses turn into links automatically. Thats the movement that I feel weve started and we want to keep it going nationwide. 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. If they have their own attorney looking at the lease, that attorney may not know what to look for. A gentleman, Tom Monaghan, the Founder of Dominos Pizza, whos on our advisory group. During the month of March, customers can make donations through the Jersey Mike's mobile app or onsite. They say Dominos and Starbucks is a technology company, so are we. It was funny, I was in the Greenwich, Connecticut store and I had a whole crew of folks lined up and dynamic young people then some older people. Youve got to guesstimate how many subs youre going to sell a day. That has continued into the pandemic. Well go to one charity next year to Special Olympics. 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. Thats what its about and thats the direction that people feel and hopefully get from our team. It started when we went out in October, November, and December 2019. We sent them subs and cookies. Contestants can create their best snow sculptures and submit a photo for an opportunity to win a prize from Greenwich Parks and Recreation. Peter said so. At some point, that becomes detrimental to the organization and inhibits growth, but you havent experienced that. Initially, we had three weeks training and they were going to open a store and now, its almost three months. 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. How have you thought through that evolution of the company? We were ahead and ready for this because of our investment two years prior. The differentiator between a successful franchise owner and Where do you determine what needs centralization at the headquarters level and the corporate entity versus what you decentralized down to owners? Many ancient pipes in CT aren't up to the task of draining storm water, yet officials just seem to shrug. We went out and gave 50% off, which the people saw as a gift to them. Where the need was, we went after it. Lorber and Trump's friendship goes back 30 years in the New York real estate game. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. I go, Im not alone. 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. Leadership is about getting people to do things because they wanted to, not because you told them. Its like when I was fourteen when I showed up at Mikes, my voice mattered. The deadline to submit photos is Friday, March 5. We had to not do it. Thats fine with me, but theyve got to run pretty fast. Coach Smith, he gives you the money, he backs you, youre seventeen, you show up on day one and youre the boss, now what? 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 When youre an owner, things shift. Still is. Youd be surprised, they want to give some of their key people the opportunity. It was an honor and I try to live up to it every single day. How do you train those around you and what do you expect from those around you? I want to talk about your leadership style because thats an important part of this story. 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. Schiller might be the only guy close to the president who isnt worth eight figures. As soon as I said it, now the owners are happy. I saw that we were again flat-lined and lost a lot of sales every year. We met in 2017. It was fine. But a closer look at Trump's patterns and relationships reveal a man who seeks privacy. It doesnt matter what you did before. What happened that night? It starts out with small things. Ill start working with the crew. Peter Cancro's 5 Key Lessons From Managing a Billion Dollar Franchise Corporation for 43 Years 1. Its not checking on them, its not filling out sheets, but coming in and working with them. 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. 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. What is the landlord doing for work? When the New York Times asked Trump for a list of his buddies, Lorber was one of two. You talked about having to lay everybody off. We went around the country to 40 different co-ops and had hundreds of people in the room. I always say, Where did you go to high school? They look at you a little funny. We had so much development in North Carolina, the high-tech bubble burst in 02. Cancro also held calls with franchisees to walk them through applications for Paycheck Protection Program loans, which they all received. Thats how we got connected. We touched the core. It was negative sales. Thats the culture that was there at Mikes. That was our way of saying, Were open. It worked. Entrepreneur Magazine has ranked Jersey Mikes #7 in the 2021 Franchise 500 Ranking. Trump craves positive stories in the news media; but the news outlets dont always deliver. It was small amounts for a small business. I want to ask you and take it back to something that was very important to the Jedburghs back in World War II. Visit megaphone.fm/adchoices, Requires subscription and macOS 11.4 or higher. 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. The investment that goes in is exponentially higher in that training than actually when youre in there in the moment. 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. Many franchise companies dont do what we do. He remains by Trumps side day and night, at times pushing aside reporters and protestors. The owners unbelievably kicked in as well. They had to do three things every single day to be effective. In 1988 pro wrestling magnates Linda and Vince McMahon were holding their tournament at Trump Plaza in Atlantic City. Keith Schiller exits an elevator at Trump Tower in New York, NY. You have a tremendous drive. 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. Ive got to tell you, Im announcing the Coach Rod Smith Sponsorship Award because my coach gave me a shot. Whats the program and how are you selecting these individuals? I hear what you do for the community. I started having that and people would come in and say, Let me have that Peter sub. 91, 92, 93, we didnt grow, but we took care of what we had. Jersey Mike's Subs. Theres no way. The next morning was a Monday morning and thats when I called the owner, I said, Whats going on? Thats how it started, thats how we got together. Were here to serve our customers and it trickles down if you will, that whole mentality, that attitude of putting others first before yourself. Investment in people. It was only ten people on the roster total. Your subs are good. That was second to the people, to the giving in the community. The restaurant joins Taco Bell and other big brands offering help Fox Business Thats what we saw. 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 WebWhen 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 Barrack roused and inspired the crowd, as Trump had hoped, but he also described his longtime buddy as having the discipline of an animal in the jungle, a line only a true friend would have the stones to say. It was the original store at fifteen seats, and all takeout. Thats what you tell the kids. 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. 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. Once hes your friend, she told AP last September, he is loyal to the end. Loyalty might have factored into President Trump naming Linda McMahon head of the Small Business Administration. When you celebrate the 2,000, for one day, will you take a step back before you start the drive to 3,000? It was unbelievable the outpouring of America to our stores to help contribute to the food banks. Im just Peter, Im one of the workers. There are many different causes of people around the country giving of themselves to other people. I tell a lot of people that I work with companies, teams, and organizations that nobody cares what you did yesterday. Worked at NYPD. 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. Thats $150 million. I said, At the 2,000 stores, we are going to have a little gathering and be at the original store. What are you doing after this? I challenge them to see where their lives are and that, Youve got a future here. Peter Cancro has been in the same business for nearly 50 years. We were going down, we were getting crushed. I went into a meeting and I said, Hows everything going? They said, Good. The next day, I said, Were going to 360. I doubled it. How do you motivate the owners? To celebrate the company's 13th Annual Month of Giving fundraising campaign, Jersey Mike's locations across the country are joining forces with more than 200 local charities. In business school, this principle sets the foundation of many different classes. We have owners that are involved with other franchise companies and they say, Peter, your company and what you do, no one matches it. Thats coming from our existing owners that have other concepts they are with. Thats our business. If you think about it, the same culture, ethics, morals coming in with us. People could see tables in front 8 or 10 feet away making the product, contactless pickup and the digital. Somebody gave me a shot. This is a carousel. They see what local charity were supporting within store materials, but we dont push the people. Wreaths Across America. It brings down the house anytime you watch it. We see the progression, we see us getting to 300 stores a year, but most of the growth, 90% of it is from the existing owners. You can almost guess what youre going to gross. Its why you have been a leader that has rallied a community behind you. This has been quite a journey from the high school football fields of the Jersey Shore to building a global franchise. We were there. https://www.mashed.com/149053/the-untold-truth-of-jersey-mikes Peter Cancro is the Founder and CEO of Jersey Mikes Subs. They said, Let me have, then a number. The right team assembled and kept working and slowly but surely, it started rising up. Former p at NYC Police Department. 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. 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 didnt know what direction to go and thats when I went over to my coachs house and called him up. They had to be able to shoot, move and communicate. It was very community-oriented from the beginning. It was impressive and we sit here in 2021. 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. Hes the founder of Jersey Mikes Subs, which now has over 1,000 franchises. If they could do these three things with precision every day, they could solve any challenge that came their way. Location. Thats why we never said a word about our giving for decades. Americares is also caring for patients at its primary care clinics in Colombia, Connecticut, El Salvador and India, and providing surge medical personnel in Peru to support health facilities overwhelmed by the pandemic. Subway is not even on it. Youve got to keep coming. 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 Jill Biden Says Joe Biden Is Ready to Run Again, Nikki Haley Announces 2024 Presidential Bid. Its why youve had success. Thats $75,000 per store. Count me in. There was this one young lady who started giving blankets to homeless people. Today, that shop has grown into the over one-thousand-location sandwich franchise, Jersey Mike's Subs. Youve spoken in the past about Tom Monaghan and him serving as a mentor. All the Manzos, the Cancros, there were four Cancros that worked at the shop. We started growing again in 94, 95. I told that story to a national audience when Mr. Monaghan was there for a talk a few years back. They both like burgersLorber told an industry group last year his first stop after buying a Rolls-Royce was McDonalds drive-thru. Youve got a small family nucleus that youre a part of. A leadership style is pulling people along and its amazing. A whole sub is like, This is unbelievable. Thats how it started and thats where we go. He likes large crowdsthe largest crowdsand even after the election, he's organized campaign-style rallies to get time with his adoring fans. When the governor shut down the states, they thought everybody was shut down. We raised enough money and we do it every year. 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. Peter Cancro Took Jersey Mike's From. We had amazing volume and did incredible business to the Jersey Shore. Its not that easy. I have decided to stick to love. You know what Im saying. I have to know, where did it come from? 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. 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. In order to get iteration, you have to have feedback. I came back on March 15th from Vermont. 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 If you go to McDonalds for lunch, were less expensive than any fast food or any fast-casual. We went city to city and you would think that they would find out about it but for some reason, they didnt. Peter was named to the 2021 Power List by Nations Restaurant News. I want to grow. Feinberg made his fortune buying long shots. Web1956. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. Its built into the price of opening the store and were proud of it. Its going to be so touching, and no ones doing what were doing, sending a message like that. We were the first to integrate with Uber and DoorDash, meaning take the iPad off the wall and it goes right into our system. 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