You referenced it a couple of times in the Coach Rod Smith Ownership Program. When we hit that 2,000th store, were going back to the original store in Point Pleasant, which is now the training center. The business model has supported this being takeout only. We guide through the process of reviewing a lease, signing a lease, construction training. 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. 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. 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. Thats where our heads are at. I thank you for everything that youve done and for joining me here. You need about $125,000 is what it was, which is about how much now? North Carolina happened and they were on a boom, then we opened up and stores started growing. 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. Thats our investment. Youve got to guesstimate how many subs youre going to sell a day. Can you talk about process development at Jersey Mikes and whos involved in that? 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. How many breads are going to go out the door? I want to grow. All of a sudden, the banking environment in the Northeast was the worst hit, and around the country. We went down and through the years, weve been involved, I dont know how many years now, but it was pretty cool. Cancro is the founder and chief executive officer of Jersey Mikes Franchise Systems, operating more than 730 restaurants in 35 states from New Jersey to California. Its having a culture that people can win together. Peter was named to the 2021 Power List by Nations Restaurant News. We want to be involved in everything. 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 what you did before. Another initiative that you have is the Sub Abover Grants, which has been described as extraordinary people making a difference in their communities. Thats when we broadcast that we were the first franchise company in America, in the history of franchising, to pay for all the retrofits. The town reserves the right to use the photos in town media. We were perfectly set up for it. You can tell right away when you meet someone. Youre investing three times more time into training than any other food service franchise. 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. When the New York Times asked Trump for a list of his buddies, Lorber was one of two. We help them with that go to these lenders. When the governor shut down the states, they thought everybody was shut down. Years back, we put a wreath on every tomb in Arlington Cemetery. Martin Luther King Jr., A Testament of Hope: The Essential Writings and Speeches, Got a tip? But the people around him haven't changed much. When I first started there, my voice mattered. Hearst Magazine Media, Inc. All Rights Reserved. We rose up and then we sent $2.5 million out to the owners to give to their local community. For more information, visit jerseymikes.com/mog. We care and show up every day. That is the culture. Jersey Mike's Subs. Everybody loves Jersey Mikes. People say, How did you do it? We were opening stores and we were investing everything we had back into growth. Everybody felt it was strong. I left that gentleman and I was back to ground zero and it was at the end of the week. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. Jersey Mike's Owner Peter Cancro: The Power of The Sub Sandwich. Youre seventeen. A light switch went off. 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.. We had to not do it. You know what Im saying. We told the owners that. Come down with me. Its funny how I pick it up and I have a moment. When I think about what you do, I think about Jersey Mikes and how you approach everything. We had amazing volume and did incredible business to the Jersey Shore. Its an amazing story. Theyre looking out to help one another. How do you take a step back and say, Were going to get through this. Its amazing how you hear that. All of the co-ops are coming together. I say, Did you play any sports? 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. 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. Thats what we saw. He is a white, non hispanic male registered to vote in Peter Cancro has been working as a Chief Executive Officer at Jersey Mike's Subs for 52 years. How do we be real behind the counter? This has been quite a journey from the high school football fields of the Jersey Shore to building a global franchise. Its what we continue to do going forward. "Every four years, dedicated athletes come together to compete at the Special Olympics USA Games, said Peter Cancro, Jersey Mikes founder and CEO. They see what local charity were supporting within store materials, but we dont push the people. In youth sports, I was captain of the teams and captain of this, I was the president of my class. Peter, thanks for joining me. Weve got to keep proving it out every day. Peter was named to the 2021 Power List by Nations Restaurant News. When Trump Is at Mar-a-Lago, He's Among Friends, The Wealthy Donors Funding Trump's Transition, challenged Trump in the Battle of the Billionaires, which he won and got to shave Vinces hair in the ring, Your Privacy Choices: Opt Out of Sale/Targeted Ads. I saw lines that were miles long and I said, Weve got to do something. I have to only think, what happened if you had to become a 50/50 partner with this person? It has also trained thousands of health care workers in infection prevention and control, disaster preparedness, and mental health and psycho-social support. Passion for giving in Jersey Mike's local communities is reflected in its mission statement "Givingmaking a difference in someone's life." Im pretty proud of our whole group, our owners, all the crews, the staff. How do you ensure compliance across 2,000 stores? 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. 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. Thats critical. Its a small town, Point Pleasant, an hour South of New York. 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. Thats where I talked to you about it before. 1 of 3. You can see it right online. 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 The next day, you start the next drive. NEPTUNE - Jersey Mike's founder Peter Cancro and his wife Tatiana have given a $10 million gift to the Hackensack Meridian Health Foundation. We talked about these couple of things. Where can we make an impact in peoples lives and make a difference? They share a love of beauty contests. We track the sites. Youve got to keep coming. That is what I do when I go into a store. Can you talk a bit more about the last Wednesday of every March, the Day of Giving, and then this March 2021 expanding that out to a whole month? It increased like you wouldnt believe, but it was entire families that worked at Mikes. Thats so mature to think about at seventeen years old. That has continued into the pandemic. We set up the financing for them and with them. We showed up every day. We go after it, were pretty focused and driven, but in a real positive way, we want people to have fun, enjoy it, because you enjoy it when youre doing your best, when youre putting it out there, trying to serve your community, and serve one another in the store. 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 got the look and the girl turned around and there was a board behind. Can you talk a bit about that initiative? 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. Help me through this. Its amazing day by day how when you start pushing and pushing and nothing happens. He remains by Trumps side day and night, at times pushing aside reporters and protestors. We said, This is starting to grow.. It started to happen. Like Treasury Secretary Steven Mnuchin, Feinberg took the Trump plunge during the campaign, when The Donald was still considered a clownish long shot. Thats why we never said a word about our giving for decades. 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. In 2019, it was over $7.5 million. They say Dominos and Starbucks is a technology company, so are we. Take it, replicate it and do it again. I dont assume that I know everything. I joke and I say, Most everything, but I do not know everything. (View/download b-roll). 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. He befriended Trump while negotiating the Plaza Hotel deal in the 1980s and cemented their friendship though the decades, so much so that Trump asked Barrack to run his inauguration. In 1991, you borrowed some money. And more importantly, should tuition go toward supporting bars around the XL Center? Shes the one that found out about Karen and Morrill Worcester from Maine. How did you get through that? Harry Jaffe has been a journalist in Washington, D.C., for three decades. Contact: Kyle Potvin, kpotvin@splashllc.com, 917-838-4500, View original content to download multimedia:https://www.prnewswire.com/news-releases/celebrate-jersey-mikes-13th-annual-month-of-giving-in-march-301757134.html, https://www.prnewswire.com/news-releases/celebrate-jersey-mikes-13th-annual-month-of-giving-in-march-301757134.html, Petrobras Payout Rewards Investors Who Ignored Lula Risk, Record retail theft puts pressure on Australian supermarket giants, UPDATE 1-Australia's Nitro Software recommends $360 mln Potentia offer, Defence contractors target Australia as it gears up to counter China, Asian Equities Swing Lower, Led by China Tech: Markets Wrap. Now, theres this process. We may earn commission from links on this page, but we only recommend products we back. We try and get involved in the community, make great products and great service. A whole sub is like, This is unbelievable. Theyre embracing their community from senior citizen homes to kids leagues, to first days at childrens hospital. We were going down, we were getting crushed. He is also the owner who took Jersey Mikes Today, Jersey Mikes has over 2000 stores across the globe, and is closing in on over $2 billion in annual sales. What are you doing after this? I challenge them to see where their lives are and that, Youve got a future here. Its always a learning process and Im the one that goes out every day and says, I want to learn. You thought about going public because there were economic indicators of a downturn. Ours is, Youve got to go to work. Two people work for 2.5 months and a third person works for 1.5 months. Weve won numerous national awards. In order to get iteration, you have to have feedback. It was a lot of emotion in the room, owners and peers, and it was an unbelievable time. Its not that easy. 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