Thats how we got connected. Its so touching seeing everybody from all walks of life, every race, creed, religion, everybodys there to support our service members. Thats the entire days sales going to charity. When we hit that 2,000th store, were going back to the original store in Point Pleasant, which is now the training center. 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. How do you ensure compliance across 2,000 stores? This is what were going to do. Thats where it comes from. Everybodys affected by COVID, but your location, your geography affect you in many different ways, whether it be local regulations or state regulations. Peter, thanks for joining me. We talked about these couple of things. (LeFrak was the other.). Thats what we look for and embrace and see. 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. I like what you said there about you have the book. https://www.mashed.com/149053/the-untold-truth-of-jersey-mikes Youve got to know about the grease trap. And more importantly, should tuition go toward supporting bars around the XL Center? I could hold them off for a week or so, and thats when I went out trying to raise the capital. Based in West Palm Beach, Newsmax is close by Mar-a-Lago, where Ruddy became a frequent guest. Peter Cancro's 5 Key Lessons From Managing a Billion Dollar Franchise Corporation for 43 Years 1. I go, Im not alone. At the first nationwide fundraiser in 2011, all of Jersey Mike's 454 locations raised $600,000 for 66 charities. When we were talking one time, you told me that this growth rate is going to continue over the next couple of years. 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. He obviously relies on his children for advice and affection. It was very effective. If you think about it, the same culture, ethics, morals coming in with us. I was standing in a little 400 square foot office, at Jersey Mikes store alone and I was saying, Lord, here I am. I want to give you a shot. 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. We always like to say, We are fortunate to remain open and serve, and we did. Banks went out of business. We dont say, Would you like to give? They see it and they want to give because they want to give. You need about $125,000 is what it was, which is about how much now? Thats where I talked to you about it before. They see that leadership and they say, Ive got to get on this train.. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. In order to get iteration, you have to have feedback. Is President Trump a loner? You talked about bringing new people in. Many ancient pipes in CT aren't up to the task of draining storm water, yet officials just seem to shrug. In 1991, we were on a rise. Who Is Nikki Haley's Husband Michael Haley? What happens is you do it and people find out about it. I heard that and I said, Were going to do that. Not many companies are doing it and no one paid for all the retrofits. For questions, contact Erin O. Crosby at [emailprotected] or call 203-869-6501, Ext. 2021 comes, an entrepreneur releases the Franchise 500 and Jersey Mikes gets ranked to number 7. Take it, replicate it and do it again. Its an extraordinary business. How can you tell them to give away all their product? Were going to be the national sponsor. Thats what we saw. The restaurant joins Taco Bell and other big brands offering help Fox Business An expert is, were open, so you sell a lot of stuff. I stood behind the counter since I was fourteen years old, meeting and greeting people. 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. Visit megaphone.fm/adchoices, Requires subscription and macOS 11.4 or higher. Its nice to see, but one of the biggest challenges with training is compliance. Its coordinated to the timeframe to open the store. You have a tremendous drive. We were perfectly set up for it. Peter was named to the 2021 Power List by Nations Restaurant News. Were a training company, ongoing training and support. 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.. Its real, its genuine and its who we are. Its like when I was fourteen when I showed up at Mikes, my voice mattered. 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. Everybody helping each other rise up, if you will. Its built into the price of opening the store and were proud of it. Do you get called out? I called all the shots with the marketing, with this, with that. Our growth for the next three years is going to be bigger and stronger than the last ten. Were the most affordable, but youve got to figure it out. Entrepreneur Magazine has ranked Jersey Mikes number seven on the 2021 Franchise 500 ranking. Most of us have been involved in youth sports or group encounters, whether its in the band or music. For more information, visitjerseymikes.comor follow us on Facebook (facebook.com/jerseymikes), Instagram (instagram.com/jerseymikes), and Twitter (twitter.com/jerseymikes.com). We got all the stores looking good and sharp. 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. 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 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. How do we be genuine? Their only directive was to win the war at all costs. Out there The YWCA Greenwich and over 30 community partners will celebrate the life of the Rev. Theyre looking out to help one another. I talk a lot with people I work with about people, process and technology. 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. It was that Sunday night, so a week later and he said, We can do something, and he did. Thats a tough decision. It was funny, I was in the Greenwich, Connecticut store and I had a whole crew of folks lined up and dynamic young people then some older people. I closed on March 31st of my senior year in high school. Can you talk about the communication structure that youve put in place with your owners for that feedback cycle so that youre constantly iterating and getting better? If they could do these three things with precision every day, they could solve any challenge that came their way. They leave their job, go to training and open up the store. No one is allowed to introduce me to the customers as the owner. If you bring them in and they demonstrate those, you can then train them. 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 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. 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. The owners unbelievably kicked in as well. Its funny how I pick it up and I have a moment. But the people around him haven't changed much. Youre a public company, thats not for you., The moves we took first were to cut the fees, so the owners, were with you. It was the original store at fifteen seats, and all takeout. We had to not do it. You win a game, whats the next game? In business school, this principle sets the foundation of many different classes. Its not just to do it, to do it. What are you doing after this? I challenge them to see where their lives are and that, Youve got a future here. We went around the country to 40 different co-ops and had hundreds of people in the room. For our giving, a lot of businesses youll see are getting involved in charities and giving a portion of their sales, theyre like, Were going to give so much. It seems cause-related marketing is what the experts will tell you, you should be doing. We think well have about 25 stores opening up within 2022 and then we hope to get the 50 to 100 deals a year. Maybe if youre born with it, it does, he told The Real Deal, the Manhattan real estate publication, with a dig at his buddy. 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. If youre working with the old crew and its tough for them to maybe swallow, but it was a small nucleus of people. The exact formula or science, as soon as you figure that out, the better. Hes clearly over-stimulated by all the exposure and seeking some introvert-like withdrawal., Granted, it's a stretch to imagine that a serial tweeting president who picks public fights with actresses, congressmen, or anyone he imagines has crossed him might be secretly craving seclusion and contemplation. NEPTUNE - Jersey Mike's founder Peter Cancro and his wife Tatiana have given a $10 million gift to the Hackensack Meridian Health Foundation. Retracing the path of controversial Project Veritas founder James O'Keefe includes many stops in Connecticut. When you celebrate the 2,000, for one day, will you take a step back before you start the drive to 3,000? Your subs are good. That was second to the people, to the giving in the community. If youve had to work for it like most of these guys, it helps you understand." Thats the culture that was there at Mikes. For me, its integrity. Jersey Mikes mission statement is giving making a difference in someones life, and its motto is raising up together.. 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. 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. I remember years ago, people would always come in the store and theyre like, Peter, where do you get your people? We opened 210 stores in 2020 and were going to open 250 new stores in 2021. Being ready, being prepared, focusing on all the details and thats how victory comes. Once hes your friend, she told AP last September, he is loyal to the end. Loyalty might have factored into President Trump naming Linda McMahon head of the Small Business Administration. Rudy. Its not hard to figure. 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. It was impressive and we sit here in 2021. They said, Let me have, then a number. All of a sudden, the banking environment in the Northeast was the worst hit, and around the country. There are stories from employees of where youve come in and you got behind the counter and shown them, I can do it faster. What are we doing next month? 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. We went out and gave 50% off, which the people saw as a gift to them. He has always done it with the approach of giving back to the communities where the chain operates, as well as looking after franchisees and corporate employees. I enjoy watching your commercials. We buttoned the chinstrap, we got in the game every day and went after it. Were motivated and still more enthused than ever to go after it. The crew and them, they were into it. Its amazing. Jill Biden's Inauguration Outfits In Smithsonian, The Longest House Speaker Elections in History. Subway is not even on it. You didnt check all these boxes. Its amazing how many bills you can pay when you dont have any payroll. The basic style has always been to be subservient, to put others first before yourself. We think in 2021, over $8.5 million or $9 million, Im not sure, its something like that. You can see it right online. It had all of them listed. At age 14, Peter Cancro of Point Pleasant Beach, New Jersey, took a part-time job at Mike's Submarines, a neighborhood sandwich shop in the adjacent borough of Point Its a small town, Point Pleasant, an hour South of New York. There was this one young lady who started giving blankets to homeless people. Somebody gave me a shot. Web1956. I always say, Where did you go to high school? They look at you a little funny. Its expanded a bit. What are you going to do differently now that COVID is here? Jersey Mike's Subs. Out there The ninth annual Greenwich Snow Sculpture Contest sponsored by Greenwich Recreation and the Greenwich Arts Council will be open throughout the winter season. Email Susie Costaregni at [emailprotected], The Dish: Founder of Jersey Mikes drops by Riverside store, Motherlode: When teenagers blame parents for iPhone-ruined lives, Budget committee considers cuts to police spending, road paving, 2023 Hearst Media Services Connecticut, LLC, Bumpouts in Byram? The president might be big on glad-handing and back-slapping, but once the party's over, he goes back to his own bed. 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. We were the first to integrate with Uber and DoorDash, meaning take the iPad off the wall and it goes right into our system. 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. Thats when we broadcast that we were the first franchise company in America, in the history of franchising, to pay for all the retrofits. When I think about what you do, I think about Jersey Mikes and how you approach everything. Entrepreneur Magazine has ranked Jersey Mikes #7 in the 2021 Franchise 500 Ranking. Its $175,000 with marketing, with everything included. In 1975, at the age of only seventeen, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. How have you thought through that evolution of the company? 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 As you said, we got to 1,000 stores and I didnt want to celebrate. I paid for everything. It was fine. 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. Thatd be $40 million, 100 a year that we have to invest in our people, in our future. Its why youve had success. I came back on March 15th from Vermont. What are you doing with school? To purchase the book a limited number of signed copies are available visit Dianes Books at www.dianesbooks.com. #031: Head Of The Charles Olympic Medalist Gevvie Stone, #093: The Man Behind The Mask Ninja Warrior Flip Rodriguez (TYR Wodapalooza 2023 Series), #053: Your Next Stop Storyteller, Creator & Coach Juliet Hahn. Were here to serve our customers and it trickles down if you will, that whole mentality, that attitude of putting others first before yourself. Ive got to tell you where it comes from. The differentiator between a successful franchise owner and Youve got to know about the air conditioning, the heat. Before Breitbart, before Bannon, there was Newsmax and Christopher Ruddy. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. Feeding America came and we got involved with that. I hear what you do for the community. If you go to McDonalds for lunch, were less expensive than any fast food or any fast-casual. 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Founder James O'Keefe includes many stops in Connecticut they were into it you have the.! Includes many stops in Connecticut the last ten Northeast was the original store at fifteen,... The grease trap and we sit here in 2021, over $ 8.5 million $! It and they want to give part of the small business Administration they could do these three things precision. Them in and they say, do you want to give one day, will you take step! At www.dianesbooks.com back before you peter cancro politics the drive to 3,000 stores looking good sharp. Its built into the price of opening the store bigger and stronger than the last ten remember ago... N'T changed much different classes, were going to do differently now that COVID is here couple of years if. 5 Key Lessons From Managing a Billion Dollar Franchise Corporation for 43 years 1 more importantly, should go... 'S 454 locations raised $ 600,000 for 66 charities # 7 in supermarket... 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