Seen a celebrity? I enjoyed it. My brother worked there the year before I did and he told the owners, My brother, I know hell work hard. Thats where I talked to you about it before. We had somebody going through it. I talk a lot with people I work with about people, process and technology. Peter was named to the 2021 Power List by Nations Restaurant News. Its built into the price of opening the store and were proud of it. 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. He remains by Trumps side day and night, at times pushing aside reporters and protestors. People are starting to hear about that. We touched the core. Count me in. What are you doing getting the money? Its almost over $100,000, the owner can make not losing a person. The contest is open to Greenwich residents only. 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. Jersey Mikes mission statement is giving making a difference in someones life, and its motto is raising up together.. You didnt have something that on a resume, somebody says, If you dont have that, you cant get the job. Were very strong on that. How did you get through that? Im like, What is going on? In January of 06, it was one of the lowest points, believe it or not. Its funny, you say from a small company, so in 75, it was one store. I go to some of the wealthy people that live in the neighboring towns and told them about what I was doing. If I could first start off with thank you for your service with the military and thanks for your service to our country. We dont say, Would you like to give? They see it and they want to give because they want to give. Now, Jersey Mikes has over 2,000 stores across the globe and is closing in on over $2 billion in annual sales. 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. No one is allowed to introduce me to the customers as the owner. In youth sports, I was captain of the teams and captain of this, I was the president of my class. She checked it and I saw her pointing to it. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. This is every franchise. The president might be big on glad-handing and back-slapping, but once the party's over, he goes back to his own bed. Today, Jersey Mikes has over 2000 stores across the globe, and is closing in on over $2 billion in annual sales. 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. 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. Even the crews. 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. I know the hospital workers are heroes and all that, but the families and kids. 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 a tough time, 91. The differentiator between a successful franchise owner and Peter Cancro Wife 2021, Wiki, Bio, Age, Net Worth, First Wife They love showing up and making it happen because they were scared. Everybody loves Jersey Mikes. In 1971 at the age of only 17, Peter raised $125,000 to purchase the single store sandwich shop called Mikes Subs. They all come in with one and then they grow from there. I knew they didnt have much money. In business school, this principle sets the foundation of many different classes. We went to three cities every week and nonstop. They had to do three things every single day to be effective. I rolled the dice and I said, Ill put everything on the table. We paid for the retrofits. 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 track the sites. We rose up and then we sent $2.5 million out to the owners to give to their local community. We help them with that go to these lenders. It brings down the house anytime you watch it. Thats fine with me, but theyve got to run pretty fast. Thomas Barrack, chairman of the Presidential Inaugural Committee, greets Vice President Mike Pence at Donald Trumps inauguration. We want people who have the energy that fits our whole philosophy of giving. Thats critical. Where the need was, we went after it. I say community because thats what it is from owners to your corporate staff, to the employees. It was all kinds of charities and not just one group. Whats empowering that people love is when they can be real and genuine, and not some script by the company. All of the co-ops are coming together. 104. Thats the way it is and I say, I started when I was fourteen, sprinkling, wrapping, like you and what youre doing. The model with COVID fits right in with whats happening. As you said, we got to 1,000 stores and I didnt want to celebrate. 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. You dont have a certification. You didnt have 30 years in the industry. We met in 2017. It increased like you wouldnt believe, but it was entire families that worked at Mikes. We just did it. My son used to race years ago. If you have that mindset as a company that, Were here to serve and were here to learn, and you go through these different openings and the new people coming in, they want to come in and have a proven system. Peter Cancro could be the poster child for the concept of doing well by doing good. Her brother, Bud Thorne, was killed in the Battle of the Bulge. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. Bumpouts in Byram? Martin Luther King Jr., A Testament of Hope: The Essential Writings and Speeches, Got a tip? When youre an owner, things shift. McDonalds at eleven, KFC at 25, Jimmy Johns at 72, and Firehouse Subs at 78. Thats the culture that was there at Mikes. They see that leadership and they say, Ive got to get on this train.. North Carolina happened and they were on a boom, then we opened up and stores started growing. But the people around him haven't changed much. 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. 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 want to be involved in everything. Im still fast, but Im messy, for the laugh and joke. We went city to city and you would think that they would find out about it but for some reason, they didnt. I told my story about how I got started. It was negative sales. 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.. People from within bought and grew, and got into their own store. We sent them subs and cookies. We say, Nothing. Our growth for the next three years is going to be bigger and stronger than the last ten. Ive got to tell you, Im announcing the Coach Rod Smith Sponsorship Award because my coach gave me a shot. Its the small things and Im sure it was the small things that achieve victory way back when and its now as well. We forecast it over $10 million in 2022. We raised enough money to serve 25 million meals in a weekend. We said, This is starting to grow.. I saw that we were again flat-lined and lost a lot of sales every year. Can you talk about process development at Jersey Mikes and whos involved in that? We were willing to help people that were out of jobs and work, and then we kept pushing. Process improvement requires iteration. 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I could hold them off for a week or so, and thats when I went out trying to raise the capital. The crew and them, they were into it. His work has appeared in Washingtonian, The Washington Post, Politico, L.A. Times, Yahoo News, NBC4.com, and Mens Health. Youve got to guesstimate how many subs youre going to sell a day. I went to visit every single owner and worked harder than I had ever done before. I woke up in the middle of the night and wrote the commercial. You meet up with one investor who wants a piece of the equity. On a store level and thats where we always go. Its always a learning process and Im the one that goes out every day and says, I want to learn. Entrepreneur Magazine has ranked Jersey Mikes #7 in the 2021 Franchise 500 Ranking. 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. Weve evolved as a business and rapidly changing. 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. Peter Cancro, founder and CEO of Jersey Mikes Subs, pays a visit to the Jersey Mikes in Riverside on Sunday, Jan 10. We care and show up every day. I know it was very prevalent after 9/11. I tell a lot of people that I work with companies, teams, and organizations that nobody cares what you did yesterday. 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. We had 180 hours and we were good. Youre on the road most days, youre in every store and you know every owner. It doesnt have to always be sports. Youre not above them, youre with them. I say, Did you play any sports? 2251 Landmark Pl, Manasquan, New Jersey, 08736, United States. This is our business. The training is cool. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. The culture of giving, the day of giving, the month of giving that Jersey Mikes has under your leadership exemplifies that. Can you talk a bit about that initiative? Its $175,000 with marketing, with everything included. Trumps public persona is brash and relentlessly social. 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. When I go into the store, I go, I was right there with you at fourteen, sprinkling and wrapping. Its not checking on them, its not filling out sheets, but coming in and working with them. I know they say were divided now, but I disagree. He went off with a doctorate degree and started delivering pizzas for Dominos. Some franchise, its 5 to 10 days. Hearst Magazine Media, Inc. All Rights Reserved. In order to get iteration, you have to have feedback. Since then Linda has become one of Trump's closest female friends. Feinberg made his fortune buying long shots. It starts with a single sub shop on the Jersey Shore. /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: . I would love to. One night my mother said, I heard it was for sale, and I was a little bit taken off guard. In 1943, the Allied Forces determined a new type of leader was required to win World War II. I appreciate that. In 1991, you borrowed some money. Were four years in and youre at the 2,000 stores that youre closing on the $2 billion. Thats the movement that I feel weve started and we want to keep it going nationwide. WebFormer Union representative at NYPD Retired. Every single owner got funded. Let me have the Cancro Special. We put it up on the menu, but it didnt sell enough, so its not about me. Take it, replicate it and do it again. This is fascinating because so many companies miss this opportunity in the training. That has continued into the pandemic. Very simply, we work hard. 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. If youre working with the old crew and its tough for them to maybe swallow, but it was a small nucleus of people. 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/. Based in West Palm Beach, Newsmax is close by Mar-a-Lago, where Ruddy became a frequent guest. Martin Luther King Jr. by hosting a panel of experts for a Zoom discussion on Overcoming Racial Health Disparities: During and Beyond COVID-19 at 7 p.m. Thursday, Jan. 21. Is 2023 the Year Looted Art Returns Home? 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. We showed up every day. Thats so cool that all the owners get it. The core of any good business and anything, a family, organization, team, businesses is good people. Do people come in and say, Thats Peter.. For more information, visitjerseymikes.comor follow us on Facebook (facebook.com/jerseymikes), Instagram (instagram.com/jerseymikes), and Twitter (twitter.com/jerseymikes.com). Working there for four years and seeing the business, I said to myself, No, I dont want a partner. Host of FOX Business Network's The Claman Countdown, Liz Claman is joined by Jersey Mike's Subs CEO & Owner, Peter Cancro. 20 Things You Didn't Know about Jersey. Peter, this has been an amazing and impactful conversation. To date, Americares, a nonprofit disaster relief and global health organization, has provided 315 tons of critically needed supplies, including masks, gowns and disinfectants, to combat the spread of the coronavirus. Do we have another introvert in the White House? Peter said so. At some point, that becomes detrimental to the organization and inhibits growth, but you havent experienced that. Just a quick note, anytime I change or say, Lets do it this way, I say why and explain it. The restaurant joins Taco Bell and other big brands offering help Fox Business Still is. I started having that and people would come in and say, Let me have that Peter sub. Theyre so incredible. The business model has supported this being takeout only. Trumps security chief for the past 16 years, Schiller started as Trumps bodyguard in 1999, after a decade with the NYPD. Thats how we got connected. 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. When I think about you, I think about some of the core characteristics that define success. Everybody was saying, Hold onto your money. To purchase the book a limited number of signed copies are available visit Dianes Books at www.dianesbooks.com. Thank you. We always like to say, We are fortunate to remain open and serve, and we did. Thats how it started, thats how we got together. 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? I said, This doesnt sound right, and its funny how different companies went and got in trouble because they got the money. 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 He came on board, we didnt call one person, but we had a lot of Dominos owners. We told the owners that. It was over $7 million in 2020 and the goal in 2021 is $8 million? He used his private equity firm, Cerberus Capital Management, to scoop up both Chrysler and GMC in 12 months, held them and sold them. It was small amounts for a small business. You walk down the street and go, How are you doing? Everybody was together. Maybe if youre born with it, it does, he told The Real Deal, the Manhattan real estate publication, with a dig at his buddy. Wreaths Across America is one of the many initiatives that you have, but a big one for veterans. 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. With little guidance and scarce resources, a few hundred specially selected, highly trained, innovative leaders turned the tide of the war. And more importantly, should tuition go toward supporting bars around the XL Center? Schiller might be the only guy close to the president who isnt worth eight figures. Peter Cancro, CEO of Jersey Mikes Subs, in Houston during an October visit. Its why youve had success. Whats happening? Theyre going through tough times, individually or as a family. Now, were doing online virtual training. They didnt know that certain businesses would be open. Its having a culture that people can win together. Trump rewards loyalty, and Rudy has been steadfast from the gate. Were not five years. I have decided to stick to love. Youd be surprised, they want to give some of their key people the opportunity. Peter Cancro has been working as a Chief Executive Officer at Jersey Mike's Subs for 52 years. It was only ten people on the roster total. You referenced it a couple of times in the Coach Rod Smith Ownership Program. 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. Jill Biden Says Joe Biden Is Ready to Run Again, Nikki Haley Announces 2024 Presidential Bid. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. 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. Most of us have been involved in youth sports or group encounters, whether its in the band or music. Its so touching seeing everybody from all walks of life, every race, creed, religion, everybodys there to support our service members. Web page addresses and e-mail addresses turn into links automatically. 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. NEPTUNE - Jersey Mike's founder Peter Cancro and his wife Tatiana have given a $10 million gift to the Hackensack Meridian Health Foundation. 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. This is an amazing story, but it started in 1971 at fourteen when you got a job at Mikes Subs. We always advertised on sports. 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. Its what we continue to do going forward. If they could do these three things with precision every day, they could solve any challenge that came their way. 1 of 3. They share a love of beauty contests. Wreaths Across America. Look at your community and nominate people that are doing incredible things. #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. Its why you have been a leader that has rallied a community behind you. You can tell right away when you meet someone. 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. Its coordinated to the timeframe to open the store. Where are you going? You can see it right online. 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 Before you sign the lease, youve got to know what its going to cost. As we said, we see 21, 22 and 23, bigger and stronger than the last ten. I said, Weve got to do something. We have the capital, so I pivoted. 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. Where their heart is drawn then thats the charity that they support. 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. Many ancient pipes in CT aren't up to the task of draining storm water, yet officials just seem to shrug. It hasnt always been ups and downs, you mentioned that a couple of times and you got into it there. What are we doing next month? I could never start something. No. Ruddy's Newsmax Media always gave Trump a favorable forum. I saw that we were going nowhere. It was very effective. We raised enough money and we do it every year. Who defends the presidents every nonsensical Tweet? Your subs are good. That was second to the people, to the giving in the community. If you dont have the digital capacity, youre not growing. I had never been on TV before with commercials, but I felt, Ive got to step up. 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. Youre there for four years and in 1975, you find out the store is going for sale. We are proud to honor Mr. Cancro for his outstanding corporate and civic leadership, said Monmouth University President Paul R. Brown. WebHost of FOX Business Network's The Claman Countdown, Liz Claman is joined by Jersey Mike's Subs CEO & Owner, Peter Cancro. What happens is you do it and people find out about it. I dont assume that I know everything. I joke and I say, Most everything, but I do not know everything. Can you talk about that conversation? Thats how it started and thats where we go. What motivated you to start that? Out there The ninth annual Greenwich Snow Sculpture Contest sponsored by Greenwich Recreation and the Greenwich Arts Council will be open throughout the winter season. The parent company didnt apply, though Cancro told Nations Restaurant News that it didnt seem right. Youve got to work with them. Since then, Jersey Mike's annual Month of Giving has raised more than $67 million for local charities. It was only $15 million total, but it was all the money in the world back then. If you bring them in and they demonstrate those, you can then train them. Peter, thanks for joining me. As I said, we hit the thousandth store and I said, No. Everything negative that happened came over me. I was standing in a little 400 square foot office, at Jersey Mikes store alone and I was saying, Lord, here I am. Trump trusts Feinberg so deeply that he assigned him to review the intelligence agencies that thus far have bedeviled the new president. 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. They said, Let me have, then a number. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. Peter was named to the 2021 Power List by Nations Restaurant News. 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. When youre getting involved, do you have financing? You didnt have some advanced degree. They say Dominos and Starbucks is a technology company, so are we. It was an extraordinary time. Thats out of the ordinary for this industry because so much is put on the owners in this industry. Youve got to know exactly what its going to cost. Were a training company, ongoing training and support. Rudy. Jun 13, 2022 Updated Nov 11, 2022 Peter Cancro is the Founder and Chief Executive Officer of Jersey Mikes Franchise Systems, Inc., a fast-casual sub sandwich As added incentive, special deals will be announced each week onTwitterand throughJersey Mike'semail club. Thats why we never said a word about our giving for decades. That means were giving it our all. Its neat commercials coming out for it. 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. It doesnt matter how experienced you are in business, whether youre a young leader or a senior executive, you have to have a mentor. I was down there and I said to a fellow, Where are you from? I came up from Fort Lauderdale. The technology component is interesting and amazing to hear that you were ahead of it by investing in that over the last couple of years and understanding the trends in the industry. What are you doing after this? I challenge them to see where their lives are and that, Youve got a future here. We find the site next to Starbucks, Chipotle, Panera Bread, or the Five Guys. All of that helped us with a digital component, which you read about all the restaurants. We started to grow with the right people, with the great people, area directors, Dominos in California, Chicago, DC and Florida. We drive the real estate. 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. It was the original store at fifteen seats, and all takeout. This feeds three people. The price of that, they think its expensive, but no. Peter Cancro could be the poster child for the concept of doing well by doing good. We'd love to learn more about you, your team, and your challenges.Talent War Group is ready to help. The opening, were there for a couple of weeks with the people and training, teaching and coaching. Before Breitbart, before Bannon, there was Newsmax and Christopher Ruddy. Charities include hospitals, youth organizations, food banks and more. Weve won numerous national awards. He likes large crowdsthe largest crowdsand even after the election, he's organized campaign-style rallies to get time with his adoring fans. What started off as 1 million free subs turned into 2 million founder, Peter Cancro said. 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 Despite his love of large crowds, the president consistently chooses home and family. Thats $150 million. 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. I sensed and knew that to make the subs a slice of fresh, theres a lot of training involved.
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