In this episode, I spoke with Peter Cancro. The McMahons together donated $5 million to the Trump Foundation between 2007 and 2009; the Center for Responsive Politics reported that Linda herself contributed $6 million to Trumps presidential campaign. We were focused. Its amazing how you hear that. https://www.mashed.com/149053/the-untold-truth-of-jersey-mikes 20 Things You Didn't Know about Jersey. Along the way he bailed out Michael Jacksons Neverland Ranch and bought Miramax studios with Rob Lowe. 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. He obviously relies on his children for advice and affection. My speed increased tenfold. We told the owners that. We had the tables and distance serving, mostly take out. We forecast it over $10 million in 2022. That was our way of saying, Were open. It worked. So many times, the commercials are not a reality, especially when you have an owner whos in, but with you, it is. To register and receive the Zoom link, go to ywcagrn.org/drkingevent. We got along fine and worked together okay. We drive the real estate. It was small amounts for a small business. Its what we continue to do going forward. Some franchise, its 5 to 10 days. Ill be there in line. Its the small things and Im sure it was the small things that achieve victory way back when and its now as well. Always pull people along, never push them. There are 2,000 stores at this point. It doesnt matter how small, its always impactful. Look at your community and nominate people that are doing incredible things. Were a training company, ongoing training and support. You saw 2021 to 2023 being a period of time where you saw more growth in the last ten years combined. He likes large crowdsthe largest crowdsand even after the election, he's organized campaign-style rallies to get time with his adoring fans. 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 help them with that go to these lenders. Trump rewards loyalty, and Rudy has been steadfast from the gate. We always advertised on sports. Scene Jersey Mikes Subs founder and CEO Peter Cancro stopped by the sandwich shops location in Riverside last Sunday. They all come in with one and then they grow from there. Thats how it started and thats where we go. We raised enough money and we do it every year. Well give all the proceeds. It was impressive and we sit here in 2021. 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. 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 over $7 million in 2020 and the goal in 2021 is $8 million? Where the need was, we went after it. .css-1du65oy{color:#323232;display:block;font-family:NewParis,Georgia,Times,serif;font-weight:normal;margin-bottom:0.3125rem;margin-top:0;-webkit-text-decoration:none;text-decoration:none;-webkit-font-smoothing:auto;}@media (any-hover: hover){.css-1du65oy:hover{color:link-hover;}}@media(max-width: 48rem){.css-1du65oy{font-size:1.0625rem;line-height:1.2;}}@media(min-width: 40.625rem){.css-1du65oy{font-size:1.0625rem;line-height:1.2;}}@media(min-width: 64rem){.css-1du65oy{font-size:1.3125rem;line-height:1.2;}}Everything We Know About The Residence. That means were giving it our all. Its neat commercials coming out for it. 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 an honor and I try to live up to it every single day. Were one of the few companies that are very hands-on with everything. Copyright 2023 Apple Inc. All rights reserved. As you said, we got to 1,000 stores and I didnt want to celebrate. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. I say community because thats what it is from owners to your corporate staff, to the employees. 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. My toughest recession in beyond 2008. I always say, Where did you go to high school? They look at you a little funny. Peter Cancro could be the poster child for the concept of doing well by doing good. Youve got to guesstimate how many subs youre going to sell a day. Youre on the road most days, youre in every store and you know every owner. Youre seventeen. We showed up every day. The opening, were there for a couple of weeks with the people and training, teaching and coaching. Rudy Giuliani and Donald Trump pose with jackhammers at the groundbreaking for the Trump International Hotel and Tower in New York in 1995. We were willing to help people that were out of jobs and work, and then we kept pushing. Go, give away the food, go to the hospitals, go to the police, the first aid. Do you expect them to match that drive? You see it affected us and then our stores were old and tired. He likes large crowdsthe largest crowdsand even after the election, he's organized campaign-style Can you talk about process development at Jersey Mikes and whos involved in that? I remember years ago, people would always come in the store and theyre like, Peter, where do you get your people? Its built into the price of opening the store and were proud of it. 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. Were very strong on that. Jill Biden's Inauguration Outfits In Smithsonian, The Longest House Speaker Elections in History. Weve raised millions for Wreaths Across America. It was very community-oriented from the beginning. We say, Nothing. Number 8860726. Im still fast, but Im messy, for the laugh and joke. I picked up the book, Pizza Tiger and read that. Thank you. Go and help these people and feed them.. WebPeter Cancro, Jersey Mike's Franchise Systems Inc: Profile and Biography - Bloomberg Markets Connecting decision makers to a dynamic network of information, people and 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. Every single owner got funded. For questions, contact Erin O. Crosby at [emailprotected] or call 203-869-6501, Ext. Its a whole team thing. Jersey Mikes has raised more than $28 million for charities since 2010. I stood behind the counter since I was fourteen years old, meeting and greeting people. Thomas Barrack, chairman of the Presidential Inaugural Committee, greets Vice President Mike Pence at Donald Trumps inauguration. Its like when I was fourteen when I showed up at Mikes, my voice mattered. We set up the financing for them and with them. The exact formula or science, as soon as you figure that out, the better. Count me in. Peter was named to the 2021 Power List by Nations Restaurant News. It was unbelievable the outpouring of America to our stores to help contribute to the food banks. Not that were not satisfied or whatever, but weve got to keep raising the bar. Your subs are good. That was second to the people, to the giving in the community. I had never been on TV before with commercials, but I felt, Ive got to step up. It hasnt always been ups and downs, you mentioned that a couple of times and you got into it there. Whats empowering that people love is when they can be real and genuine, and not some script by the company. 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. Mr. Cancro, the founder and chief executive officer of Jersey Mikes Franchise Systems, is a graduate of Point Pleasant Beach High School. Worked at NYPD. You go, Whats going on in your life? Cancro also held calls with franchisees to walk them through applications for Paycheck Protection Program loans, which they all received. It doesnt have to be that big. "I would like to extend a personal invitation to you and your family to visit Jersey Mike's Subs throughout the month of March, and especially on Day of Giving when 100 percent of sales every penny goes to help a great local cause," said Peter Cancro, Jersey Mike's founder and CEO, who started the company when he was only 17 years old. 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. 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. I called people up and go to talk with them. In 1988 pro wrestling magnates Linda and Vince McMahon were holding their tournament at Trump Plaza in Atlantic City. They challenged Trump in the Battle of the Billionaires, which he won and got to shave Vinces hair in the ring. There are many different causes of people around the country giving of themselves to other people. Thats great, weve done this and achieved that. 104. I have to only think, what happened if you had to become a 50/50 partner with this person? Many ancient pipes in CT aren't up to the task of draining storm water, yet officials just seem to shrug. Thanks, Fran. Rudy. 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. The workers coming in are like, Whats happening? Its why youve had success. I paid for everything. It instantly builds this credibility. If they could do these three things with precision every day, they could solve any challenge that came their way. I welcome them to run ahead of me. Volunteers will receive a digital tool kit with messages that can be shared via social media and messaging apps. What are you going to do differently now that COVID is here? 91, 92, 93, we didnt grow, but we took care of what we had. 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. But the people around him haven't changed much. I saw that we were again flat-lined and lost a lot of sales every year. Cancro started I met her for four minutes and I knew. Thats a tough decision. In business school, this principle sets the foundation of many different classes. 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 was the original store at fifteen seats, and all takeout. Trump made him director of Oval Office operations. We want people who have the energy that fits our whole philosophy of giving. Host 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. Their only directive was to win the war at all costs. 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. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. This feeds three people. The price of that, they think its expensive, but no. Peter Cancro, CEO of Jersey Mikes Subs, in Houston during an October visit. The annual event is free and open to the public. Wreaths Across America. Peter Cancro Wife 2021, Wiki, Bio, Age, Net Worth, First Wife And more importantly, should tuition go toward supporting bars around the XL Center? I had the #12, Cancro Special. Theres no need to recreate it. For more information, visitjerseymikes.comor follow us on Facebook (facebook.com/jerseymikes), Instagram (instagram.com/jerseymikes), and Twitter (twitter.com/jerseymikes.com). It is not mandatory. They see what local charity were supporting within store materials, but we dont push the people. We said, This is starting to grow.. We put up all the money, we signed the lease. Were inundated in the summer. Sales started to rise, and in 07, 08, the company turned around. She checked it and I saw her pointing to it. We started growing again in 94, 95. 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. You have a tremendous drive. Thats everything. To the mass, I said, This is how I got in. I could see it in their eyes, their confidence, their energy, they care about the people there. Were going to be the national sponsor. The Best Window Replacement Companies in CT, Guide to Legal Cannabis Dispensaries in CT, The Best Kitchen Remodeling Companies in CT, The Best Cosmetic Dentists in Westchester County. Its to see all those owners get it. What started off as 1 million free subs turned into 2 million founder, Peter Cancro said. We went out and thats the first time I went to see every single owner. If they have their own attorney looking at the lease, that attorney may not know what to look for. That book gave me hope. 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. It brings down the house anytime you watch it. I said, This doesnt sound right, and its funny how different companies went and got in trouble because they got the money. 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. It was all kinds of charities and not just one group. 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. He used his private equity firm, Cerberus Capital Management, to scoop up both Chrysler and GMC in 12 months, held them and sold them. 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. Its amazing the momentum that weve got. Web page addresses and e-mail addresses turn into links automatically. I was like, How did you know? You hear about millions and millions served. Everybodys got the money, but who understands? It was the leadership thing, taking charge was pretty easy for me. I started having that and people would come in and say, Let me have that Peter sub. We try and get involved in the community, make great products and great service. In November, Jersey Mikes raised over $2.5 million nationwide for Feeding America, a nonprofit network of food banks. 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? Start being yourself. (LeFrak was the other.). I look at the kids and I never say, You did a good job. I say, How did I do? They go, You did okay. It levels you with them. It was not an option. When I first started there, my voice mattered. I knew they didnt have much money. Web1956. You have the international component sitting in Australia too. I applaud the efforts that youve made. But beyond family, loyal staff, and cabinet secretaries, who does Trump turn to when he needs to vent or seek guidance? When I think about what you do, I think about Jersey Mikes and how you approach everything. He wrote a book about the politics of gun law with Gabby Giffords, as well as Why Bernie Sanders Matters, the only unauthorized biography of the Vermont senator. If you bring them in and they demonstrate those, you can then train them. Now, were doing online virtual training. 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. 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. Process improvement requires iteration. In 1971 at the age of only 17, Peter raised $125,000 to purchase the single store sandwich shop called Mikes Subs. You had about 1,000 stores, you were doing about $1 billion in revenue and you told me, In the next five years, were going to double. I enjoyed it. Its funny, were filming some commercials for it and the owners are going to be in it. I tell a lot of people that I work with companies, teams, and organizations that nobody cares what you did yesterday. The return is unprecedented in the industry. We'd love to learn more about you, your team, and your challenges.Talent War Group is ready to help. Jersey Mike's Subs. 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. Ive got to tell you where it comes from. WebPeter Cancro (age 64) is listed at 9705 Collins Ave Apt 2303n Bal Harbour, Fl 33154 and has no political party affiliation. On a store level and thats where we always go. 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. I could never start something. No. Passion for giving in Jersey Mike's local communities is reflected in its mission statement "Givingmaking a difference in someone's life." How did you find out? You know how moms are, they know everything. I first found out about it from a friend, Edith Knowles, who lived in a nearby town. Your training programs are a hallmark and again, unique to the industry. Newsmax leaned to the right before it was even slightly cool. 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. As a company, weve got to be in too. Thats when I announced we were paying for the retrofits. Thats what brings everything together. Where do you determine what needs centralization at the headquarters level and the corporate entity versus what you decentralized down to owners? I have to know, where did it come from? We had 180 hours and we were good. Peter Cancro (center), Founder & CEO, Jersey Mikes Franchise Systems, Inc., celebrates the companys 2022 Day of Giving at Jersey Mikes in Point Pleasant Beach. 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. Trump trusts Feinberg so deeply that he assigned him to review the intelligence agencies that thus far have bedeviled the new president. Thats the entire days sales going to charity. Organizations will fail without transformative leaders. How do we be genuine? 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 came back on March 15th from Vermont. Trumps public persona is brash and relentlessly social. Thats why we never said a word about our giving for decades. We started to grow with the right people, with the great people, area directors, Dominos in California, Chicago, DC and Florida. We went down and through the years, weve been involved, I dont know how many years now, but it was pretty cool. Thats the movement that I feel weve started and we want to keep it going nationwide. Ive got to get out there and do it. Somehow, we pulled it off and kept pushing harder than ever during that time. As Ive said often, its starting to grow. If you think about it, the same culture, ethics, morals coming in with us. Its about $400,000. Still is. Even the crews. Jill Biden Says Joe Biden Is Ready to Run Again, Nikki Haley Announces 2024 Presidential Bid. All the Manzos, the Cancros, there were four Cancros that worked at the shop. I told that story to a national audience when Mr. Monaghan was there for a talk a few years back. Thats all I ever say and thats how we win by serving our public. WebPeter Cancro (age 65) is listed at 9705 Collins Ave Apt 2303n Bal Harbour, Fl 33154 and has no political party affiliation. Thats where I talked to you about it before. In 2019, it was over $7.5 million. What do you expect from those that sit around you? Peter was named to the 2021 Power List by Nations Restaurant News. 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. Peter, this has been an amazing and impactful conversation. 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. Im like, What is going on? In January of 06, it was one of the lowest points, believe it or not. We like to call it the power of the sub sandwich. But who else is in his inner circle? I got to the end of the line and I saw this young lady and there was something about her presence. You meet up with one investor who wants a piece of the equity. When I meet somebody, I know if we want to go forward with them or not. 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. 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. Thats what we look for and embrace and see. I saw a lot of our sales were coming from North Carolina and they lost 100,000 jobs. It started when we went out in October, November, and December 2019. Its a small town, Point Pleasant, an hour South of New York. Thats the way it is and I say, I started when I was fourteen, sprinkling, wrapping, like you and what youre doing. Today, Jersey Mikes has over 2000 stores across the globe, and is closing in on over $2 billion in annual sales. Who stands up to Chuck Todd on Meet The Press to blunt criticism of his New York buddy? We dont call them franchisees, we call them partners, we call them owners. In 1991, we were on a rise. People say, I could never do anything. Theres no way. I go, Im not alone. During the month of March, customers can make donations through the Jersey Mike's mobile app or onsite. As I said, we hit the thousandth store and I said, No. Everything negative that happened came over me. I called all the shots with the marketing, with this, with that. As soon as I said it, now the owners are happy. I talk a lot with people I work with about people, process and technology. 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. Everything thats rung up goes to that local charity. Its so touching seeing everybody from all walks of life, every race, creed, religion, everybodys there to support our service members. Out there Actor, director, producer and Americares board member Tony Goldwyn, a New Canaan resident, will host an Americares virtual volunteer event to commemorate the Martin Luther King Jr. National Day of Service. She met Hoyt Jones. 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. A whole sub is like, This is unbelievable. There were a couple of groups that wanted to do something, but they couldnt and I kept going. What are we doing next month? You came into the business as a very young man. Thats where our heads are at. Its mid-December on a Saturday and be part of it. We marketed like never before, with unprecedented push with marketing and awareness. Whats a local thing they like to do? 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 doesnt matter what you did before. The owner put the place up for sale and we all knew, but you know how businesses are when its for sale, its quiet. He came on board, we didnt call one person, but we had a lot of Dominos owners. Do you get called out? Another fellow, unfortunately, his child committed suicide, so he got involved in education and awareness for that. The business model has supported this being takeout only. Many franchise companies dont do what we do. 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 I would love to. Its nice to see, but one of the biggest challenges with training is compliance. 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. Peter was named to the 2021 Power List by Nations Restaurant News. I see an unprecedented movement in our country, for that matter, around the world, where you could see in peoples eyes, theyre looking to serving one another. Martin Luther King Jr., A Testament of Hope: The Essential Writings and Speeches, Got a tip? He is also the owner who took Jersey Mikes 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. Trumps security chief for the past 16 years, Schiller started as Trumps bodyguard in 1999, after a decade with the NYPD. We had somebody going through it. I went to visit every single owner and worked harder than I had ever done before. The town reserves the right to use the photos in town media. Since then, Jersey Mike's annual Month of Giving has raised more than $67 million for local charities. Entrepreneur Magazine has ranked Jersey Mikes #7 in the 2021 Franchise 500 Ranking. Youve got to work with them. 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. It was a tough time, 91. Does it make common sense? I said, Weve got to do something. We have the capital, so I pivoted. How do you motivate the owners? Peter Cancro has been working as a Chief Executive Officer at Jersey Mike's Subs for 52 years. We give 3% of the sales for three years. He is a white, non hispanic male registered to vote in When you look at your team, thats hard to replicate. Very simply, we work hard. 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