Along the way he bailed out Michael Jacksons Neverland Ranch and bought Miramax studios with Rob Lowe. I saw that we were going nowhere. Who Is Nikki Haley's Husband Michael Haley? 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. The differentiator between a successful franchise owner and Some franchise, its 5 to 10 days. In Thats the way it is and I say, I started when I was fourteen, sprinkling, wrapping, like you and what youre doing. Thats what we do and were out in the suburbs, the soccer moms, middle-class income, but now coming in to more urban areas doing well also because people understand the value of our product. I said, Weve got to do something. We have the capital, so I pivoted. My son used to race years ago. Were not stealing their people. Its funny, we did not go after it. It was only ten people on the roster total. Youre there for four years and in 1975, you find out the store is going for sale. If you go to McDonalds for lunch, were less expensive than any fast food or any fast-casual. Every single owner got funded. /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: . When youre getting involved, do you have financing? The culture of giving, the day of giving, the month of giving that Jersey Mikes has under your leadership exemplifies that. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. What are we doing next month? 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. Thats a good location. The parent company didnt apply, though Cancro told Nations Restaurant News that it didnt seem right. Heres what I did. 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. Thats the culture that was there at Mikes. I want to talk about your leadership style because thats an important part of this story. For more info and to register for the virtual event, visit www.americares.org/TakeActionNow. Its like when I was fourteen when I showed up at Mikes, my voice mattered. People say, How did you do it? Come on, were in it together. They can tell that I mean it because Ill sprinkle with them, Ill make the cheesesteak. Rudy Giuliani and Donald Trump pose with jackhammers at the groundbreaking for the Trump International Hotel and Tower in New York in 1995. Her brother, Bud Thorne, was killed in the Battle of the Bulge. We didnt start expanding until 87 and then we grew. You can tell right away when you meet someone. I tell a lot of people that I work with companies, teams, and organizations that nobody cares what you did yesterday. Peter Cancro, CEO of Jersey Mikes Subs, in Houston during an October visit. I go, Im not alone. Trump rewards loyalty, and Rudy has been steadfast from the gate. 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. To me, youre someone who leads by example and weve seen the commercials. All of a sudden, the banking environment in the Northeast was the worst hit, and around the country. We dont say, Would you like to give? They see it and they want to give because they want to give. Its a small town, Point Pleasant, an hour South of New York. 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. It started when we went out in October, November, and December 2019. But the people around him haven't changed much. I was standing in a little 400 square foot office, at Jersey Mikes store alone and I was saying, Lord, here I am. You need about $125,000 is what it was, which is about how much now? As you said, we got to 1,000 stores and I didnt want to celebrate. How do we be genuine? In order to get iteration, you have to have feedback. We went around the country to 40 different co-ops and had hundreds of people in the room. Its incredible service and support, but it has to be. The basic style has always been to be subservient, to put others first before yourself. I say community because thats what it is from owners to your corporate staff, to the employees. We touched the core. It doesnt have to be that big. Thank you. I saw lines that were miles long and I said, Weve got to do something. Well give all the proceeds. In fact, its easier to accomplish with most of the dining rooms closed, so remodeling is ahead of schedule. We care. If youve had to work for it like most of these guys, it helps you understand." 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.. A whole sub is like, This is unbelievable. Im like, What is going on? In January of 06, it was one of the lowest points, believe it or not. Today, that shop has grown into the over one-thousand-location sandwich franchise, Jersey Mike's Subs. 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. Nobody knows. We had 180 hours and we were good. I appreciate that. Working there for four years and seeing the business, I said to myself, No, I dont want a partner. I want to get into that. Where are you going? Its like, You know what to do. Its the training and teaching them to make sure that its here too, that they dont fall off. 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. Youve got to guesstimate how many subs youre going to sell a day. Were on the business. Thats what its about and thats the direction that people feel and hopefully get from our team. They say Dominos and Starbucks is a technology company, so are we. If you think about it, the same culture, ethics, morals coming in with us. Were going to have commercials out about franchisees, what they care about, and what they care about giving. There are entire classes on the evolution of a company, in the cycle of a company, but few people ever stand up and say, This is how I lead my organization through this. There are inflection points there. 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. https://www.mashed.com/149053/the-untold-truth-of-jersey-mikes When the governor shut down the states, they thought everybody was shut down. The top ten, it says Taco Bell, Dunkin Donuts, UPS, Popeyes, Culvers, Kumon, Jersey Mikes at seven, Planet Fitness, 7-Eleven and Servpro. Its not so much compliance. Go and help these people and feed them.. Another initiative that you have is the Sub Abover Grants, which has been described as extraordinary people making a difference in their communities. That has continued into the pandemic. You have a tremendous drive. How can you tell them to give away all their product? Thats the movement that I feel weve started and we want to keep it going nationwide. Theyre looking out to help one another. The president might be big on glad-handing and back-slapping, but once the party's over, he goes back to his own bed. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. Jersey Mike's Subs is part of the Hospitality industry, and located in New Jersey, United States. Now, were doing online virtual training. Hats off to Mr. Hoffman and Mr. Baker for what they showed me. Everybody was saying, Hold onto your money. Since then Linda has become one of Trump's closest female friends. Jersey Mike's Owner Peter Cancro: The Power of The Sub Sandwich. We had to not do it. Its one step, you have a vision and if you can execute on it, it doesnt matter what youre doing, you put your head down and you will get there and succeed. People see you running and then they want to run behind you. Its always a learning process and Im the one that goes out every day and says, I want to learn. What did you do with your life? Thats how we recruit and retain, but to go from a small company to a large, Ive got to tell you back and Ill say it again, we showed up every day. Thank you. 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 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. Dont walk when you can run philosophy. 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. 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.. They both have places in Florida. Its amazing. Who wants to own their own store? You shouldve seen it. He went through this. Everything that happened to me, happened to him. Somebody gave me a shot. 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. If youre working with the old crew and its tough for them to maybe swallow, but it was a small nucleus of people. Subway is not even on it. Jersey Mike Has Collected More Than $28 Million For Charity Since 2010. Can you explain it? When you look at this, how do you stay grounded? 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. We sent them subs and cookies. I saw a lot of our sales were coming from North Carolina and they lost 100,000 jobs. You hear about millions and millions served. They see that leadership and they say, Ive got to get on this train.. 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 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. WebHost of FOX Business Network's The Claman Countdown, Liz Claman is joined by Jersey Mike's Subs CEO & Owner, Peter Cancro. How do you train those around you and what do you expect from those around you? Were the most affordable, but youve got to figure it out. Its an amazing story. Let me have the Cancro Special. We put it up on the menu, but it didnt sell enough, so its not about me. They want to grow and do the same thing. What we started with the Sub Abovers is going out and saying, You know people in your own community, what are they doing? They nominate the folks that they are impressed with. The average person has 3 or 4 shops. Were going to be the national sponsor. In 1943, the Allied Forces determined a new type of leader was required to win World War II. WebFormer Union representative at NYPD Retired. 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 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. Thank you so much. Trump craves positive stories in the news media; but the news outlets dont always deliver. Weve raised millions for Wreaths Across America. I got to the end of the line and I saw this young lady and there was something about her presence. 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. With 2,000 stores, were going to have a special celebration. Keith Schiller exits an elevator at Trump Tower in New York, NY. No, theyre doing it out of their heart. You talked about bringing new people in. I would love to. The annual event is free and open to the public. I would say that I see the same drive in you that you were probably when you walked in that door at fourteen years old. Does it make common sense? Everybody loves Jersey Mikes. 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. You have a championship season, what about next season? That is the culture. Its the small things and Im sure it was the small things that achieve victory way back when and its now as well. 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. When I think about you, I think about some of the core characteristics that define success. For more information, visitjerseymikes.comor follow us on Facebook (facebook.com/jerseymikes), Instagram (instagram.com/jerseymikes), and Twitter (twitter.com/jerseymikes.com). The workers coming in are like, Whats happening? He obviously relies on his children for advice and affection. I didnt know what direction to go and thats when I went over to my coachs house and called him up. It doesnt matter what you did before. 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 In 1975, at the age of only seventeen, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. She talks about giving over yourself is when you find out about yourself. 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. It was small amounts for a small business. I thank you for everything that youve done and for joining me here. How do you motivate the owners? You go out every day and you make a difference. Everything I talked about before putting others first, subservient, leadership by example, it stands out. Everybody said we should have a big celebration, but everything that happened negative in my whole career, building up to 1,000 stores, flashed in front of me. It started to happen. Very simply, we work hard. Noted New York Times journalist and author Sarah Lyall will join Goodwin in a conversation about the themes in Goodwins book, Leadership in Turbulent Times, including the 2020 presidential election, inauguration and the impact of the U.S. on world affairs. It was not an option. Somebody backed me. There was this one young lady who started giving blankets to homeless people. Ours is, Youve got to go to work. Two people work for 2.5 months and a third person works for 1.5 months. How did you get where you are now? I said, Do you really want to know? The very first week, we cut our royalty and marketing fees in half. So many times, the commercials are not a reality, especially when you have an owner whos in, but with you, it is. 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. They said, Let me have, then a number. The core of any good business and anything, a family, organization, team, businesses is good people. How did you find out? You know how moms are, they know everything. Initially, we had three weeks training and they were going to open a store and now, its almost three months. It was over $7 million in 2020 and the goal in 2021 is $8 million? They want to be part of it, they know making a difference in peoples lives. Not that were not satisfied or whatever, but weve got to keep raising the bar. What direction should I go? While youre thinking about that, while youre worrying about everything, you go in the morning and you go to work. 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. To the mass, I said, This is how I got in. "Every four years, dedicated athletes come together to compete at the Special Olympics USA Games, said Peter Cancro, Jersey Mikes founder and CEO. Its coordinated to the timeframe to open the store. You have the international component sitting in Australia too. We drive the real estate. 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. This feeds three people. The price of that, they think its expensive, but no. I told my story about how I got started. I went to visit every single owner and worked harder than I had ever done before. Start being yourself. What do you expect from those that sit around you? Thats our business. You step back a little bit and everything starts coming. I felt strong about weve got to make a move and we did. 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. How do we be real behind the counter? 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. We were willing to help people that were out of jobs and work, and then we kept pushing. We want to be involved in everything. What motivated you to start that? In November, Jersey Mikes raised over $2.5 million nationwide for Feeding America, a nonprofit network of food banks. The contest is open to Greenwich residents only. We think in 2021, over $8.5 million or $9 million, Im not sure, its something like that. 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. 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. Who defends the presidents every nonsensical Tweet? Whats a local thing they like to do? 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. We showed up every day. When we were talking one time, you told me that this growth rate is going to continue over the next couple of years. Im not sure how bright he is. Thats how I got the job. 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. 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. You didnt have some advanced degree. The campaign culminates with the nationwide event, Day of Giving, on Wednesday, March 29, when local Jersey Mike's owners and operators will donate their resources and every single dollar that comes in to local charities. 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. We started growing again in 94, 95. 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 put up all the money, we signed the lease. "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. What are you doing with school? I have to only think, what happened if you had to become a 50/50 partner with this person? I always had different choices of subs and provolone, roast beef, which is USDA choice top rounds, its the best, and then a little pepperoni. But beyond family, loyal staff, and cabinet secretaries, who does Trump turn to when he needs to vent or seek guidance? We may earn commission from links on this page, but we only recommend products we back. Thats part of it and getting people to come along. I got the look and the girl turned around and there was a board behind. I closed on March 31st of my senior year in high school. Charities include hospitals, youth organizations, food banks and more. Jersey Mikes has raised more than $28 million for charities since 2010. Weve evolved as a business and rapidly changing. Its funny how I pick it up and I have a moment. You didnt check all these boxes. Youve got to work with them. Rudy. It was very community-oriented from the beginning. (LeFrak was the other.). Hate is too great a burden to bear., the Rev. It doesnt have to always be sports. 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. 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. Its funny, you say from a small company, so in 75, it was one store. How do you assess their capabilities? We gave as many as five million subs out to first responders, healthcare workers, and senior citizen homes that were on lockdown. Thats great, weve done this and achieved that. There are stories from employees of where youve come in and you got behind the counter and shown them, I can do it faster. 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 You see it affected us and then our stores were old and tired. Retracing the path of controversial Project Veritas founder James O'Keefe includes many stops in Connecticut. Where do you determine what needs centralization at the headquarters level and the corporate entity versus what you decentralized down to owners? We were going down, we were getting crushed. But who else is in his inner circle? We'd love to learn more about you, your team, and your challenges.Talent War Group is ready to help. 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. Id like to try and buy. Ive got two people demanding contracts. Peter Cancro, founder and CEO of Jersey Mikes Subs, pays a visit to the Jersey Mikes in Riverside on Sunday, Jan 10. What are you going to do differently now that COVID is here? Months went by and we started getting out of it and seeing a difference and then everybody finally came back within 1 or 2 years, but it was a good long time I was flat-lined. He wrapped in the real estate and the business and was able to package the whole thing. Like Treasury Secretary Steven Mnuchin, Feinberg took the Trump plunge during the campaign, when The Donald was still considered a clownish long shot. We guide through the process of reviewing a lease, signing a lease, construction training. What happened that night? Youre a public company, thats not for you., The moves we took first were to cut the fees, so the owners, were with you. 1 of 3. For questions, contact Erin O. Crosby at [emailprotected] or call 203-869-6501, Ext. I rolled the dice and I said, Ill put everything on the table. We paid for the retrofits. 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. 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. Its not just to do it, to do it. Trumps public persona is brash and relentlessly social. I first found out about it from a friend, Edith Knowles, who lived in a nearby town. 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. This is a carousel. 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. Its part of what I saw and received as an athlete. We were ahead and ready for this because of our investment two years prior. The next morning was a Monday morning and thats when I called the owner, I said, Whats going on? We had an unbelievable app and investment in technology. Thats always been the mentality and now were here to serve our owners. Its why you have been a leader that has rallied a community behind you. 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. Whats happening? Theyre going through tough times, individually or as a family. They all come in with one and then they grow from there. Peter Cancro has been working as a Chief Executive Officer at Jersey Mike's Subs for 52 years.
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