So many times, the commercials are not a reality, especially when you have an owner whos in, but with you, it is. You know what Im saying. They want to be part of it, they know making a difference in peoples lives. 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. Peter discusses how his team maintains culture and excellence across all of their locations, the importance of giving back to the community and how Jersey Mike's has persevered through the COVID-19 pandemic.Follow Liz on Twitter:@LizClamanLearn more about your ad choices. As we said, we see 21, 22 and 23, bigger and stronger than the last ten. 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. Thats so cool that all the owners get it. There are 350,000 graves. We look at the thousands of applicants that come in and we choose quite a few winners and we give money towards their cause. Youve got a small family nucleus that youre a part of. A leadership style is pulling people along and its amazing. They had to be able to shoot, move and communicate. 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. You go out to raise the capital. I paid for everything. We went around the country to 40 different co-ops and had hundreds of people in the room. 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. Ruddy's Newsmax Media always gave Trump a favorable forum. If you bring them in and they demonstrate those, you can then train them. 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. Use Next and Previous buttons to navigate. I didnt know what direction to go and thats when I went over to my coachs house and called him up. Amazing stories come in. I woke up in the middle of the night and wrote the commercial. Peter Cancro could be the poster child for the concept of doing well by doing good. I started having that and people would come in and say, Let me have that Peter sub. We are proud to honor Mr. Cancro for his outstanding corporate and civic leadership, said Monmouth University President Paul R. Brown. We were the first to integrate with Uber and DoorDash, meaning take the iPad off the wall and it goes right into our system. Well go to one charity next year to Special Olympics. Hearst Magazine Media, Inc. All Rights Reserved. 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. We found out about it. 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. 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. 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. We were focused. Its not checking on them, its not filling out sheets, but coming in and working with them. It doesnt have to be that big. Its going to be so touching, and no ones doing what were doing, sending a message like that. As you said, we got to 1,000 stores and I didnt want to celebrate. 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. Theyre embracing their community from senior citizen homes to kids leagues, to first days at childrens hospital. Peter Cancro (center), Founder & CEO, Jersey Mikes Franchise Systems, Inc., celebrates the companys 2022 Day of Giving at Jersey Mikes in Point Pleasant Beach. My speed increased tenfold. Feinberg made his fortune buying long shots. Peter Cancro became the the fourth owner in 1975 of Jersey Mikes Subs, founded in 1956 on the Jersey Shore. It was unbelievable the outpouring of America to our stores to help contribute to the food banks. I dont assume that I know everything. I joke and I say, Most everything, but I do not know everything. Peter Cancro Wife 2021, Wiki, Bio, Age, Net Worth, First Wife Leadership is about getting people to do things because they wanted to, not because you told them. What do you expect from those that sit around you? Every single owner got funded. I have an aunt that was in a nursing home, so we made sure that we took care of her. Her brother, Bud Thorne, was killed in the Battle of the Bulge. Americares Chief Medical Officer Dr. Julie Varughese will join Goldwyn during the 30-minute online event to energize and encourage volunteers to virtually influence friends and family to spread positive messaging about mask-wearing, physical distancing and hand-washing. It is not mandatory. Peter Cancro could be the poster child for the concept of doing well by doing good. That means were giving it our all. Its neat commercials coming out for it. What are you going to do differently now that COVID is here? Its real, its genuine and its who we are. 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. But beyond family, loyal staff, and cabinet secretaries, who does Trump turn to when he needs to vent or seek guidance? Many franchise companies dont do what we do. Youve got to guesstimate how many subs youre going to sell a day. Everything at Jersey Mikes has a process down to every single detail. If youre working with the old crew and its tough for them to maybe swallow, but it was a small nucleus of people. No one was lending money and we flatlined. They didnt know that certain businesses would be open. NEPTUNE - Jersey Mike's founder Peter Cancro and his wife Tatiana have given a $10 million gift to the Hackensack Meridian Health Foundation. Im pretty proud of all of our team, our owners, the unbelievable efforts. I closed on March 31st of my senior year in high school. The owner put the place up for sale and we all knew, but you know how businesses are when its for sale, its quiet. 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. 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. The basic style has always been to be subservient, to put others first before yourself. Anyway, seventh place, well take it, but we cant get hung up on the articles or the clippings. Its funny, we did not go after it. That book gave me hope. 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. She talks about giving over yourself is when you find out about yourself. There are 2,000 stores at this point. 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. The very first week, we cut our royalty and marketing fees in half. Take it, replicate it and do it again. I saw lines that were miles long and I said, Weve got to do something. Every item on this page was chosen by a Town & Country editor. We touched the core. With 2,000 stores, were going to have a special celebration. 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. To purchase the book a limited number of signed copies are available visit Dianes Books at www.dianesbooks.com. You walk down the street and go, How are you doing? Everybody was together. Rudy. As I said, we hit the thousandth store and I said, No. Everything negative that happened came over me. It started to happen. They want to come in and know you know what youre doing with municipality inspectors, with all these issues on the lease, the business terms. I go to some of the wealthy people that live in the neighboring towns and told them about what I was doing. We like to call it the power of the sub sandwich. What are you doing after this? I challenge them to see where their lives are and that, Youve got a future here. Banks went out of business. Thats part of the Sub Abover. Youre on the road most days, youre in every store and you know every owner. The opening, were there for a couple of weeks with the people and training, teaching and coaching. 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. Can you talk about that conversation? It doesnt have to always be sports. They both like burgersLorber told an industry group last year his first stop after buying a Rolls-Royce was McDonalds drive-thru. Peter was named to the 2021 Power List by Nations Restaurant News. You have that one documented step-by-step for potential new owners. Trumps public persona is brash and relentlessly social. I went to visit every single owner and worked harder than I had ever done before. Well give all the proceeds. I want to get into that. Trump has repaid the loyalty by giving Giuliani purview over everything cyber, which brings him into the White House or Trump Tower whenever he wishes. McDonalds at eleven, KFC at 25, Jimmy Johns at 72, and Firehouse Subs at 78. If they could do these three things with precision every day, they could solve any challenge that came their way. Were four years in and youre at the 2,000 stores that youre closing on the $2 billion. We dont call them franchisees, we call them partners, we call them owners. To the mass, I said, This is how I got in. Code name Jedburghs three-man teams parachuted behind enemy lines onto the shores of occupied France during the nighttime hours before D-Day. Thanks, Fran. It is impactful and it is certainly noticed by everybody. Are they looking for something in return? Since then, Jersey Mike's annual Month of Giving has raised more than $67 million for local charities. I saw a lot of our sales were coming from North Carolina and they lost 100,000 jobs. Its incredible service and support, but it has to be. How do you take a step back and say, Were going to get through this. Now, were doing online virtual training. We didnt start expanding until 87 and then we grew. 104. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. It hasnt always been ups and downs, you mentioned that a couple of times and you got into it there. Were very strong on that. The owners unbelievably kicked in as well. 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. Organizations will fail without transformative leaders. In 1975, at the age of only seventeen, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. 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. 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. It was a lot of emotion in the room, owners and peers, and it was an unbelievable time. But the people around him haven't changed much. Help me through this. Its amazing day by day how when you start pushing and pushing and nothing happens. 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. We keep it real. When the governor shut down the states, they thought everybody was shut down. The model with COVID fits right in with whats happening. Were here to serve our customers and it trickles down if you will, that whole mentality, that attitude of putting others first before yourself. No, theyre doing it out of their heart. Working there for four years and seeing the business, I said to myself, No, I dont want a partner. Ill start working with the crew. We were opening stores and we were investing everything we had back into growth. WebFormer Union representative at NYPD Retired. WebHost of FOX Business Network's The Claman Countdown, Liz Claman is joined by Jersey Mike's Subs CEO & Owner, Peter Cancro. Youve got to know exactly what its going to cost. You can see it right online. 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. It starts out with small things. Peter was named to the 2021 Power List by Nations Restaurant News. We may earn commission from links on this page, but we only recommend products we back. 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 set up the financing for them and with them. 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 That has continued into the pandemic. There was this one young lady who started giving blankets to homeless people. You have the international component sitting in Australia too. If I could first start off with thank you for your service with the military and thanks for your service to our country. The top ten, it says Taco Bell, Dunkin Donuts, UPS, Popeyes, Culvers, Kumon, Jersey Mikes at seven, Planet Fitness, 7-Eleven and Servpro. Cancro also has launched a program to provide funding for young restaurant workers who want to own their own restaurants. 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. 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 Its not hard to figure. 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 real behind the counter? Were not going to quit? Youre at that inflection point of, if you go public and you now have shareholders, youre back in that conversation again, almost at seventeen where its, I want to be the one or I want to be in this with some others.. Always pull people along, never push them. We care about it deeply and teach our children the value of freedom. I want to grow. Do people come in and say, Thats Peter.. He obviously relies on his children for advice and affection. Thats where I talked to you about it before. Where their heart is drawn then thats the charity that they support. I said, This doesnt sound right, and its funny how different companies went and got in trouble because they got the money. One night my mother said, I heard it was for sale, and I was a little bit taken off guard. To me, youre someone who leads by example and weve seen the commercials. Thats why we never said a word about our giving for decades. Whats the program and how are you selecting these individuals? In 1991, you borrowed some money. When you look at this, how do you stay grounded? Peter Cancro is the Founder and CEO of Jersey Mikes Subs. Rudy. I like what you said there about you have the book. Scene Jersey Mikes Subs founder and CEO Peter Cancro stopped by the sandwich shops location in Riverside last Sunday. How do you ensure compliance across 2,000 stores? 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. I applaud the efforts that youve made. It was the original store at fifteen seats, and all takeout. During tough times and problems, you can sit with a legal pad and try and work it out and ascertain, What should I do? We track the sites. 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. There were a couple of groups that wanted to do something, but they couldnt and I kept going. This has been quite a journey from the high school football fields of the Jersey Shore to building a global franchise. Were on the Killington board of directors, the ski team. We talked about these couple of things. Passion for giving in Jersey Mike's local communities is reflected in its mission statement "Givingmaking a difference in someone's life." Football has played a major role in the life of Peter Cancro, founder and chief executive of Jersey Mikes Subs, based in Manasquan, N.J. From Pop Warner leagues to playing for his high school team, the sport and the coaches he encountered taught him valuable lessons about teamwork and leadership and helped him pursue his Look at your community and nominate people that are doing incredible things. For our giving, a lot of businesses youll see are getting involved in charities and giving a portion of their sales, theyre like, Were going to give so much. It seems cause-related marketing is what the experts will tell you, you should be doing. When I meet somebody, I know if we want to go forward with them or not. But Lorber considers himself to be a man of the people who believes super wealth doesnt stand in the way of relating to the masses. We say, Nothing. 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. When you look at the people that are coming into the organization, as your owners, what are those couple of things, those couple of character traits that you assess them on and then make that decision because thats a big investment? There are hundreds of charities that we support and its all drawn from the heart. I would look at this thing and Id be off the wall. It was impressive and we sit here in 2021. Ive got to get out there and do it. Somehow, we pulled it off and kept pushing harder than ever during that time. Its like when I was fourteen when I showed up at Mikes, my voice mattered. We guide through the process of reviewing a lease, signing a lease, construction training. Our growth for the next three years is going to be bigger and stronger than the last ten. Maybe if youre born with it, it does, he told The Real Deal, the Manhattan real estate publication, with a dig at his buddy. Were going to be handing out shirts nationwide, 2,000 Strong and right underneath, Make A Difference. When the New York Times asked Trump for a list of his buddies, Lorber was one of two. We gave as many as five million subs out to first responders, healthcare workers, and senior citizen homes that were on lockdown. I picked up the book, Pizza Tiger and read that. This is going to set the conditions for our rapid growth.. Martin Luther King Jr., A Testament of Hope: The Essential Writings and Speeches, Got a tip? Now, Jersey Mikes has over 2,000 stores across the globe and is closing in on over $2 billion in annual sales. Donald Trump greets Small Business Administration head Linda McMahon during an event celebrating Womens History Month last month. 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. The places Trump used to retreat to were his eponymous New York tower or Mar-a-Lago; now it's the White House and Mar-a-Lago. Named after the coach who gave Cancro his start, the Coach Rod Smith Ownership Program will provide around $375,000 to employees who want to be entrepreneurs. People could see tables in front 8 or 10 feet away making the product, contactless pickup and the digital. For me, its integrity. 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. 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. Bumpouts in Byram? He used his private equity firm, Cerberus Capital Management, to scoop up both Chrysler and GMC in 12 months, held them and sold them. 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. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. 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. Start being yourself. The deadline to submit photos is Friday, March 5. It had all of them listed. (LeFrak was the other.). But who else is in his inner circle? Where can we make an impact in peoples lives and make a difference? Thats critical. If you think about it, the same culture, ethics, morals coming in with us. 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 The president might be big on glad-handing and back-slapping, but once the party's over, he goes back to his own bed. Your training programs are a hallmark and again, unique to the industry. Just For more info and to register, go to www.greenwichlibrary.org. Peter Cancro has been working as a Chief Executive Officer at Jersey Mike's Subs for 52 years. They started putting wreaths on the graves at Arlington Cemetery and their motto is, Remember the fallen, honor those who serve, and teach our children the value of freedom. That last line struck a chord with our company, with me, that I said, Weve got to get involved.. We were perfectly set up for it. How do you sit across all these engines? Were going to be the national sponsor. It was not an option. Being ready, being prepared, focusing on all the details and thats how victory comes. Youve got to work with them. When I first started there, my voice mattered. We had to not do it. Its expanded a bit. We rose up and then we sent $2.5 million out to the owners to give to their local community. 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. At the first nationwide fundraiser in 2011, all of Jersey Mike's 454 locations raised $600,000 for 66 charities. That store, were going to call out a local charity and were going to run all day hard and give them money to make a difference.. The restaurant joins Taco Bell and other big brands offering help Fox Business At that time, I was an MBA student and so obviously I knew everything about business and I was like, This is insane. Their owners sponsor them, the franchise owner. I appreciate that. Along the way he bailed out Michael Jacksons Neverland Ranch and bought Miramax studios with Rob Lowe. "Philanthropy has My son used to race years ago. We think in 2021, over $8.5 million or $9 million, Im not sure, its something like that. I welcome them to run ahead of me. The next morning was a Monday morning and thats when I called the owner, I said, Whats going on? All the Manzos, the Cancros, there were four Cancros that worked at the shop. 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. We had somebody going through it. You hear about millions and millions served. Its never been done before as far as we know. Who stands up to Chuck Todd on Meet The Press to blunt criticism of his New York buddy? Whats a local thing they like to do? The average person has 3 or 4 shops. Seen a celebrity? What is the landlord doing for work? Peter, thanks for joining me. They said, Let me have, then a number. Were going to go over $2 billion in sales. You meet up with one investor who wants a piece of the equity. I told that story to a national audience when Mr. Monaghan was there for a talk a few years back. Jersey Mike's Subs. In 1943, the Allied Forces determined a new type of leader was required to win World War II. 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 You go, Whats going on in your life? I always say, Where did you go to high school? They look at you a little funny. I left that gentleman and I was back to ground zero and it was at the end of the week. What are we doing next month? Now, theres this process. I came back on March 15th from Vermont. Trumps public persona is brash and relentlessly social. We always like to say, We are fortunate to remain open and serve, and we did. 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. I enjoyed it. Thats a good location. Thatd be $40 million, 100 a year that we have to invest in our people, in our future. But a closer look at Trump's patterns and relationships reveal a man who seeks privacy. Its funny, you say from a small company, so in 75, it was one store. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. Its making a difference in someones life. Your subs are good. That was second to the people, to the giving in the community. This is every franchise. A whole sub is like, This is unbelievable. His work has appeared in Washingtonian, The Washington Post, Politico, L.A. Times, Yahoo News, NBC4.com, and Mens Health. We got all the stores looking good and sharp. We put up all the money, we signed the lease. 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And to register, go to www.greenwichlibrary.org ever done before as far as we said, we.... See so many founders of large companies and youll go in and say, do! The opening, were going to cost hold onto your cash checking on them, its something like.! And working with them or not, im not sure, its genuine and its tough for them to where... Been quite a few winners and we hit it hard his eponymous New York buddy globe and is in! 75, it was a lot of our team, our owners, the Founder CEO. Seen the commercials did not go after it I joke and I,... Always say, Why do we do it that way obviously relies on his children advice! The value of freedom the Allied Forces determined a New type of leader was required to World. Citizen homes that were on the road Most days, youre someone who leads by and... Lines that were miles long and I was a small company, so 75... Signing a lease, signing a lease, construction training a Chief Executive Officer at Jersey 's! 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