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 Just a quick note, anytime I change or say, Lets do it this way, I say why and explain it. 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. I have to only think, what happened if you had to become a 50/50 partner with this person? Passion for giving in Jersey Mike's local communities is reflected in its mission statement "Givingmaking a difference in someone's life." 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. Youve got a small family nucleus that youre a part of. A leadership style is pulling people along and its amazing. I first found out about it from a friend, Edith Knowles, who lived in a nearby town. One at a time were going through speed of service, about getting the product fresh, making sure its perfect and then sharing your life with the customer. The core of any good business and anything, a family, organization, team, businesses is good people. Its funny how I pick it up and I have a moment. Trumps public persona is brash and relentlessly social. 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. We drive the real estate. I could see it in their eyes, their confidence, their energy, they care about the people there. The model with COVID fits right in with whats happening. Ive got to get out there and do it. Somehow, we pulled it off and kept pushing harder than ever during that time. It had all of them listed. What happens is you do it and people find out about it. What are you doing getting the money? People from within bought and grew, and got into their own store. Volunteers will receive a digital tool kit with messages that can be shared via social media and messaging apps. We may earn commission on some of the items you choose to buy. /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: . Put down your clipboard and get behind the counter. Whats empowering that people love is when they can be real and genuine, and not some script by the company. He wrapped in the real estate and the business and was able to package the whole thing. 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. Its about $400,000. We put up all the money, we signed the lease. Its built into the price of opening the store and were proud of 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. I called people up and go to talk with them. If you think about it, the same culture, ethics, morals coming in with us. 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. In order to get iteration, you have to have feedback. I go, Im not alone. I welcome them to run ahead of me. It brings down the house anytime you watch it. WebPeter Cancro (age 64) is listed at 9705 Collins Ave Apt 2303n Bal Harbour, Fl 33154 and has no political party affiliation. 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 fourteen. Today, Jersey Mikes has over 2000 stores across the globe and is closing in on over $2 billion in annual sales. This is an amazing story, but it started in 1971 at fourteen when you got a job at Mikes Subs. Were very strong on that. Entrepreneur Magazine has ranked Jersey Mikes #7 in the 2021 Franchise 500 Ranking. For all the veterans out there, we thank you for that. That book gave me hope. Dont walk when you can run philosophy. 2251 Landmark Pl, Manasquan, New Jersey, 08736, United States. There are hundreds of charities that we support and its all drawn from the heart. Come down with me. When I first started there, my voice mattered. Are they looking for something in return? He began his That is so great. Im sure they give you a little look when you say, Let me have a Cancro Special.. 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. Another initiative that you have is the Sub Abover Grants, which has been described as extraordinary people making a difference in their communities. All of that helped us with a digital component, which you read about all the restaurants. Thats how we go forward. The contest is open to Greenwich residents only. 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. We had to take it off the menu. We were focused. Maybe if youre born with it, it does, he told The Real Deal, the Manhattan real estate publication, with a dig at his buddy. Along the way he bailed out Michael Jacksons Neverland Ranch and bought Miramax studios with Rob Lowe. I thank you for everything that youve done and for joining me here. Peter Cancro, CEO of Jersey Mikes Subs, in Houston during an October visit. Do you get called out? How do you assess their capabilities? Thats what we look for and embrace and see. 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. It was that Sunday night, so a week later and he said, We can do something, and he did. Now, Jersey Mikes has over 2,000 stores across the globe and is closing in on over $2 billion in annual sales. 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. Were inundated in the summer. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. Its mid-December on a Saturday and be part of it. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. We had so much development in North Carolina, the high-tech bubble burst in 02. Its so touching seeing everybody from all walks of life, every race, creed, religion, everybodys there to support our service members. It was not an option. Investment in people. A friend of mine, Sarah Palisi Chapin, went to Purdue. 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. 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. Out there The YWCA Greenwich and over 30 community partners will celebrate the life of the Rev. How well are the other businesses doing? Copyright 2023 Apple Inc. All rights reserved. Jersey Mike Has Collected More Than $28 Million For Charity Since 2010. Wreaths Across America is one of the many initiatives that you have, but a big one for veterans. In 1991, we were on a rise. Wreaths Across America. Its always a learning process and Im the one that goes out every day and says, I want to learn. People are starting to hear about that. 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. 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. Its real, its genuine and its who we are. Hoyt came on board in 2008 and at the time Dominos was in a downturn, they were not doing well. Do people come in and say, Thats Peter.. Former p at NYC Police Department. You need about $125,000 is what it was, which is about how much now? If I could first start off with thank you for your service with the military and thanks for your service to our country. I would look at this thing and Id be off the wall. 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. Thanks, Fran. There was this one young lady who started giving blankets to homeless people. What would you say youve taken away from him in addition to what youve mentioned? Were on the Killington board of directors, the ski team. 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. Thats critical. You thought about going public because there were economic indicators of a downturn. Now, theres this process. You can see it right online. Weve raised millions for Wreaths Across America. I want to talk a little bit about how you assess businesses. Were going to have commercials out about franchisees, what they care about, and what they care about giving. Thats part of it and getting people to come along. Thats everything. 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. I know the hospital workers are heroes and all that, but the families and kids. It started when we went out in October, November, and December 2019. How did you get through that? Number 8860726. We set up the financing for them and with them. 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.. I said, At the 2,000 stores, we are going to have a little gathering and be at the original store. Its costs and fees, size and growth, support, brand strength, financial strength and stability. Its an amazing story. On a store level and thats where we always go. Its an extraordinary business. Trump and LeFrak go way back, so far back they made their first fortunes in the same terrain: apartment buildings in the outskirts of Manhattan. You have a championship season, what about next season? He used his private equity firm, Cerberus Capital Management, to scoop up both Chrysler and GMC in 12 months, held them and sold them. Rudy Giuliani and Donald Trump pose with jackhammers at the groundbreaking for the Trump International Hotel and Tower in New York in 1995. I say community because thats what it is from owners to your corporate staff, to the employees. Thats where I talked to you about it before. It doesnt matter how experienced you are in business, whether youre a young leader or a senior executive, you have to have a mentor. Its part of what I saw and received as an athlete. 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. I want to ask you and take it back to something that was very important to the Jedburghs back in World War II. Rudy. .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. This is fascinating because so many companies miss this opportunity in the training. 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. But the people around him haven't changed much. I have decided to stick to love. 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. Its expanded a bit. Thats what we saw. It doesnt have to always be sports. The annual event is free and open to the public. Its amazing. You win a game, whats the next game? He came on board, we didnt call one person, but we had a lot of Dominos owners. Its not so much compliance. You saw 2021 to 2023 being a period of time where you saw more growth in the last ten years combined. Its an unbelievable movement right now where people are together. Its making a difference in someones life. There are stories from employees of where youve come in and you got behind the counter and shown them, I can do it faster. He is a white, non hispanic male registered to vote in Go and help these people and feed them.. If they could do these three things with precision every day, they could solve any challenge that came their way. Today, that shop has grown into the over one-thousand-location sandwich franchise, Jersey Mike's Subs. No one is allowed to introduce me to the customers as the owner. 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 We found out, We probably should tell people what were doing because then people find out about it and then they want to be part of it. I know it was very prevalent after 9/11. You didnt have some advanced degree. You can tell right away when you meet someone. Still is. I want to talk about your leadership style because thats an important part of this story. Im like, What is going on? In January of 06, it was one of the lowest points, believe it or not. Hes the founder of Jersey Mikes Subs, which now has over 1,000 franchises. You can almost guess what youre going to gross. Your training programs are a hallmark and again, unique to the industry. The discussion will be moderated by Tiffany Donelson, president and CEO of Connecticut Health Foundation, with panelists Dr. Irene Blanco, associate dean in the Office of Diversity Enhancement at Albert Einstein College of Medicine; Dr. Juliet Mushi, OB/GYN and expert in maternal/fetal health at Yale School of Medicine; and Dr. Sten Vermund, dean and professor of public health and professor of pediatrics at Yale School of Medicine. You see it affected us and then our stores were old and tired. We always advertised on sports. Another fellow, unfortunately, his child committed suicide, so he got involved in education and awareness for that. Where the need was, we went after it. Its a whole team thing. Thats the way its seen. Trumps public persona is brash and relentlessly social. Thats what he did to expand. 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. Now, were doing online virtual training. It was very effective. Whether thats slicing meat, baking bread, opening the store, closing the store, even starting a new store and the application process and then everything that goes in. Its nice to see, but one of the biggest challenges with training is compliance. Peter Cancro became the the fourth owner in 1975 of Jersey Mikes Subs, founded in 1956 on the Jersey Shore. Peter Cancro, founder and CEO of Jersey Mikes Subs, pays a visit to the Jersey Mikes in Riverside on Sunday, Jan 10. We say, Nothing. I said, Weve got to do something. We have the capital, so I pivoted. The return is unprecedented in the industry. I like what you said there about you have the book. 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. A whole sub is like, This is unbelievable. As we said, we see 21, 22 and 23, bigger and stronger than the last ten. For more info and to register, go to www.greenwichlibrary.org. 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. Ill be there in line. We find the site next to Starbucks, Chipotle, Panera Bread, or the Five Guys. He clearly craves attention, says Kozak, but even with that there seems to be a need to withdraw at least to a non-peopled form of solitude.. "Every four years, dedicated athletes come together to compete at the Special Olympics USA Games, said Peter Cancro, Jersey Mikes founder and CEO. When you look at your team, thats hard to replicate. Although the pandemic forced the Day of Giving to be canceled in 2020, Jersey Mikes continued to raise funds switching its advertising from sports to news shows to drum up awareness and raising the equivalent of 22 million meals one weekend, which it gave to the charity Feeding America. We opened 210 stores in 2020 and were going to open 250 new stores in 2021. 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. It doesnt have to be that big. For me, its integrity. Thats a tough decision. We just did it. Very simply, we work hard. Trump craves positive stories in the news media; but the news outlets dont always deliver. We showed up every day. Thats what you tell the kids. 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 You talked about having to lay everybody off. 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. So many times, the commercials are not a reality, especially when you have an owner whos in, but with you, it is. NEPTUNE - Jersey Mike's founder Peter Cancro and his wife Tatiana have given a $10 million gift to the Hackensack Meridian Health Foundation. Ive got to tell you where it comes from. How do you motivate the owners? Well go to one charity next year to Special Olympics. Its going to be so touching, and no ones doing what were doing, sending a message like that. Youre there for four years and in 1975, you find out the store is going for sale. But who else is in his inner circle? Ruddy's Newsmax Media always gave Trump a favorable forum. WebFormer Union representative at NYPD Retired. Thats out of the ordinary for this industry because so much is put on the owners in this industry. 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. People say, How did you do it? The top ten, it says Taco Bell, Dunkin Donuts, UPS, Popeyes, Culvers, Kumon, Jersey Mikes at seven, Planet Fitness, 7-Eleven and Servpro. If people want to give, they see it, theyll give, but then of course, Wednesday, March 31st, we throw that out and were full-court pressing, the giving. Thats so mature to think about at seventeen years old. 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. They both have places in Florida. We have a big training that Brian Loughran, our head of training, is putting on starting after the month of giving, which is on April, May. We talked about these couple of things. 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. They see that leadership and they say, Ive got to get on this train.. 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. 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. When you celebrate the 2,000, for one day, will you take a step back before you start the drive to 3,000? 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. 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. We marketed like never before, with unprecedented push with marketing and awareness. "Philanthropy has I felt strong about weve got to make a move and we did. We were going down, we were getting crushed. I saw that we were again flat-lined and lost a lot of sales every year. It was a lot of emotion in the room, owners and peers, and it was an unbelievable time. Years back, we put a wreath on every tomb in Arlington Cemetery. Were four years in and youre at the 2,000 stores that youre closing on the $2 billion. The town reserves the right to use the photos in town media. We raised enough money and we do it every year.