The return is unprecedented in the industry. 2021 comes, an entrepreneur releases the Franchise 500 and Jersey Mikes gets ranked to number 7. It instantly builds this credibility. We care. That is what I do when I go into a store. My brother worked there the year before I did and he told the owners, My brother, I know hell work hard. I know they say were divided now, but I disagree. They both have places in Florida. We help them with that go to these lenders. It had all of them listed. You thought about going public because there were economic indicators of a downturn. We talked about these couple of things. In 2019 Cancro took the unprecedented step of paying for the latest round of restaurant remodels, around $75,000 per restaurant. I want to give you a shot. There are many different causes of people around the country giving of themselves to other people. We had an unbelievable app and investment in technology. 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. It starts out with small things. I know the hospital workers are heroes and all that, but the families and kids. Visit megaphone.fm/adchoices, Requires subscription and macOS 11.4 or higher. 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. We want to be involved in everything. 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. We always like to say, We are fortunate to remain open and serve, and we did. When youre getting involved, do you have financing? 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. Thats a tough decision. Theres no way. Peter Cancro bought the first Jersey Mikes at the age of 17, as a high-school senior who had spent previous summers working at the Point Pleasant, New Jersey sandwich shop. 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. How do you assess their capabilities? Whats the program and how are you selecting these individuals? It was only ten people on the roster total. She was very confident and she had the energy. Cancro also held calls with franchisees to walk them through applications for Paycheck Protection Program loans, which they all received. I saw that we were going nowhere. 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. Retracing the path of controversial Project Veritas founder James O'Keefe includes many stops in Connecticut. It doesnt matter what you did before. It was a tough time, 91. That book gave me hope. Years back, we put a wreath on every tomb in Arlington Cemetery. Thats $150 million. They talk about these kids and it was funny in the 70s, they say, These kids today, you dont understand. The 80s, the 90s and still now, all these kids are great. Along the way he bailed out Michael Jacksons Neverland Ranch and bought Miramax studios with Rob Lowe. Peter Cancro, board member of the Hackensack Meridian Health Foundation and Founder and CEO of Jersey Mike's Subs, was named to ROI Influencers: Power List 2021 Executives Kevin Slavin, CEO of St. Joseph's Health, a clinical and strategic partner of Hackensack Meridian Health, was named to ROI Influencers: Power Thats great, weve done this and achieved that. We went out and thats the first time I went to see every single owner. I first found out about it from a friend, Edith Knowles, who lived in a nearby town. Thats what brings everything together. 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. If you think about the mission of Jersey Mikes, its right there on your homepage, Giving, making a difference in someones life. You talk about the culture of giving is as much a part of our heritage as oil and vinegar. Thats what its about and thats the direction that people feel and hopefully get from our team. He is also the owner who took Jersey Mikes Rudy. As soon as I said it, now the owners are happy. Its real, its genuine and its who we are. The exact formula or science, as soon as you figure that out, the better. I could hold them off for a week or so, and thats when I went out trying to raise the capital. I was standing in a little 400 square foot office, at Jersey Mikes store alone and I was saying, Lord, here I am. We had somebody going through it. A whole sub is like, This is unbelievable. What started off as 1 million free subs turned into 2 million founder, Peter Cancro said. Its what we continue to do going forward. And more importantly, should tuition go toward supporting bars around the XL Center? Since then, Jersey Mike's annual Month of Giving has raised more than $67 million for local charities. Were inundated in the summer. Entrepreneur Magazine has ranked Jersey Mikes number seven on the 2021 Franchise 500 ranking. Peter Cancro (center), Founder & CEO, Jersey Mikes Franchise Systems, Inc., celebrates the companys 2022 Day of Giving at Jersey Mikes in Point Pleasant Beach. You can almost guess what youre going to gross. There are stories from employees of where youve come in and you got behind the counter and shown them, I can do it faster. In each market, restaurant owners select charities that support local neighborhoods and build a stronger 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. Theres no need to recreate it. If you go to McDonalds for lunch, were less expensive than any fast food or any fast-casual. All of that helped us with a digital component, which you read about all the restaurants. WebFormer Union representative at NYPD Retired. Thank you. They see what local charity were supporting within store materials, but we dont push the people. We started to grow with the right people, with the great people, area directors, Dominos in California, Chicago, DC and Florida. 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. We got all the stores looking good and sharp. I left that gentleman and I was back to ground zero and it was at the end of the week. What are the three things that you have to do every day to be successful and win? We gave as many as five million subs out to first responders, healthcare workers, and senior citizen homes that were on lockdown. During the month of March, customers can make donations through the Jersey Mike's mobile app or onsite. Im sure they give you a little look when you say, Let me have a Cancro Special.. 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. In 1971 at the age of only 17, Peter raised $125,000 to purchase the single store sandwich shop called Mikes Subs. Where do you determine what needs centralization at the headquarters level and the corporate entity versus what you decentralized down to owners? Thats how we go forward. Everybody felt it was strong. Everything I talked about before putting others first, subservient, leadership by example, it stands out. They have to pay it back. You have a championship season, what about next season? Thats when we broadcast that we were the first franchise company in America, in the history of franchising, to pay for all the retrofits. My son used to race years ago. Its going to be so touching, and no ones doing what were doing, sending a message like that. Bumpouts in Byram? How do you sit across all these engines? It brings down the house anytime you watch it. It was not an option. Web1956. Every item on this page was chosen by a Town & Country editor. If youre working with the old crew and its tough for them to maybe swallow, but it was a small nucleus of people. Maybe if youre born with it, it does, he told The Real Deal, the Manhattan real estate publication, with a dig at his buddy. Its like when I was fourteen when I showed up at Mikes, my voice mattered. I saw a lot of our sales were coming from North Carolina and they lost 100,000 jobs. Peter Cancro Took Jersey Mike's From. Volunteers will receive a digital tool kit with messages that can be shared via social media and messaging apps. 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. Im pretty proud of all of our team, our owners, the unbelievable efforts. How did you find out? You know how moms are, they know everything. Today, that shop has grown into the over one-thousand-location sandwich franchise, Jersey Mike's Subs. I welcome them to run ahead of me. Youve spoken in the past about Tom Monaghan and him serving as a mentor. When you look at this, how do you stay grounded? I want to ask you and take it back to something that was very important to the Jedburghs back in World War II. Location. The basic style has always been to be subservient, to put others first before yourself. I could never start something. No. He began his 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.. Very simply, we work hard. 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. 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. You go out to raise the capital. Peter Cancro has been in the same business for nearly 50 years. 2251 Landmark Pl, Manasquan, New Jersey, 08736, United States. Ivanka trusted him to ensure Jared would return safely from his brazen trip to Iraq. Shes the one that found out about Karen and Morrill Worcester from Maine. 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 went city to city and you would think that they would find out about it but for some reason, they didnt. People from within bought and grew, and got into their own store. Weve got to keep proving it out every day. I hate that in the supermarket when you go in and they say, Do you want to give a dollar? Youve got to be careful with that. 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. 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. Its amazing to see all of our owners embrace that giving spirit and thats the most gratifying thing for me in business. The president might be big on glad-handing and back-slapping, but once the party's over, he goes back to his own bed. Thats where I talked to you about it before. We rose up and then we sent $2.5 million out to the owners to give to their local community. You walk down the street and go, How are you doing? Everybody was together. How do you ensure compliance across 2,000 stores? 1979 - 2000. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. 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. We get the right people. 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