Lorber and Trump's friendship goes back 30 years in the New York real estate game. Peter Cancro is the Founder and CEO of Jersey Mikes Subs. We went to three cities every week and nonstop. "Every four years, dedicated athletes come together to compete at the Special Olympics USA Games, said Peter Cancro, Jersey Mikes founder and CEO. What do you expect from those that sit around you? Can you talk a little bit about the transition in your mind as the owner and the founder from a small business to a medium business, to a large business? 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. WebFormer Union representative at NYPD Retired. Its a whole culture. The top ten, it says Taco Bell, Dunkin Donuts, UPS, Popeyes, Culvers, Kumon, Jersey Mikes at seven, Planet Fitness, 7-Eleven and Servpro. Youre investing three times more time into training than any other food service franchise. Its not that easy. If you bring them in and they demonstrate those, you can then train them. Somebody gave me a shot. When you look at your team, thats hard to replicate. The deadline to submit photos is Friday, March 5. Peter Cancro became the the fourth owner in 1975 of Jersey Mikes Subs, founded in 1956 on the Jersey Shore. I dont assume that I know everything. I joke and I say, Most everything, but I do not know everything. The owners unbelievably kicked in as well. 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. We put up all the money, we signed the lease. I need to explain this for the readers because how this ranking is done is important because the ranking is completed on a survey of the franchisors based on five criteria. Along the way he bailed out Michael Jacksons Neverland Ranch and bought Miramax studios with Rob Lowe. We met in 2017. How do we be real behind the counter? Thats something to watch to see the owners willing to give up an assistant manager or somebody to go out and be on their own. Its not hard to figure. No one is allowed to introduce me to the customers as the owner. You can tell right away when you meet someone. If they have their own attorney looking at the lease, that attorney may not know what to look for. Our growth for the next three years is going to be bigger and stronger than the last ten. Trumps public persona is brash and relentlessly social. 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. We may earn commission from links on this page, but we only recommend products we back. He came on board, we didnt call one person, but we had a lot of Dominos owners. Thats so mature to think about at seventeen years old. It doesnt have to always be sports. Were one of the few companies that are very hands-on with everything. Peter Cancro has been working as a Chief Executive Officer at Jersey Mike's Subs for 52 years. It ends up he worked with Tom Monaghan, head of operations for 4,500 stores. Trumps security chief for the past 16 years, Schiller started as Trumps bodyguard in 1999, after a decade with the NYPD. If you shut the news off, theres so much negative and hate there, and youll see the good out in this country. How have you thought through that evolution of the company? Everybody loves Jersey Mikes. Im always about on the company, what are we doing this week? We care. We rose up and then we sent $2.5 million out to the owners to give to their local community. Thats the way it is and I say, I started when I was fourteen, sprinkling, wrapping, like you and what youre doing. It was only ten people on the roster total. Thats where I talked to you about it before. Im not sure how bright he is. Thats how I got the job. It started when we went out in October, November, and December 2019. I say that during the rush. 20 Things You Didn't Know about Jersey. Shes the one that found out about Karen and Morrill Worcester from Maine. 1 of 3. 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. They both have places in Florida. 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. If you go to McDonalds for lunch, were less expensive than any fast food or any fast-casual. Cancro also held calls with franchisees to walk them through applications for Paycheck Protection Program loans, which they all received. You go out to raise the capital. I knew they didnt have much money. Thats what its about and thats the direction that people feel and hopefully get from our team. Were going to have commercials out about franchisees, what they care about, and what they care about giving. Thats a good location. Initially, we had three weeks training and they were going to open a store and now, its almost three months. They want to be part of it, they know making a difference in peoples lives. Visit megaphone.fm/adchoices, Requires subscription and macOS 11.4 or higher. They see what local charity were supporting within store materials, but we dont push the people. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. No wonder the president asked his longtime buddy to chair his infrastructure operation, along with Steve Roth. That book gave me hope. There are 2,000 stores at this point. People from within bought and grew, and got into their own store. How many breads are going to go out the door? As I said, we hit the thousandth store and I said, No. Everything negative that happened came over me. Peter was named to the 2021 Power List by Nations Restaurant News. Go, give away the food, go to the hospitals, go to the police, the first aid. I know the hospital workers are heroes and all that, but the families and kids. Her brother, Bud Thorne, was killed in the Battle of the Bulge. It doesnt matter how small, its always impactful. Mr. Cancro, the founder and chief executive officer of Jersey Mikes Franchise Systems, is a graduate of Point Pleasant Beach High School. In 1943, the Allied Forces determined a new type of leader was required to win World War II. We look at the thousands of applicants that come in and we choose quite a few winners and we give money towards their cause. But who else is in his inner circle? Were not five years. The business could look completely different now. I go to some of the wealthy people that live in the neighboring towns and told them about what I was doing. 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. 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. It had all of them listed. Peter Cancro could be the poster child for the concept of doing well by doing good. Peter Cancro's 5 Key Lessons From Managing a Billion Dollar Franchise Corporation for 43 Years 1. I tell a lot of people that I work with companies, teams, and organizations that nobody cares what you did yesterday. LeFrak has been a Trump guest at Mar-a-Lago for more than a decade. Every item on this page was chosen by a Town & Country editor. With 2,000 stores, were going to have a special celebration. 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 Weve got to keep proving it out every day. The business model has supported this being takeout only. 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. We get the right people. Its $175,000 with marketing, with everything included. They see that leadership and they say, Ive got to get on this train.. We found out about it. I like what you said there about you have the book. Jersey Mike's Owner Peter Cancro: The Power of The Sub Sandwich. On a store level and thats where we always go. Today, Jersey Mikes has over 2000 stores across the globe, and is closing in on over $2 billion in annual sales. How did you get through that? I want to talk a little bit about how you assess businesses. Whats the program and how are you selecting these individuals? A friend of mine, Sarah Palisi Chapin, went to Purdue. Thats pulling people along. It was over $7 million in 2020 and the goal in 2021 is $8 million? Youve got to describe it too. What are you doing getting the money? Peter Cancro is the Founder and CEO of Jersey Mikes Subs. I felt strong about weve got to make a move and we did. The town reserves the right to use the photos in town media. Lines and paragraphs break automatically. You referenced it a couple of times in the Coach Rod Smith Ownership Program. 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. Thats great, weve done this and achieved that. Banks went out of business. You go out every day and you make a difference. Go and help these people and feed them.. In 1975, at the age of only seventeen, Peter raised $125,000 to purchase the single-store sandwich shop called Mikes Subs. But a closer look at Trump's patterns and relationships reveal a man who seeks privacy. When you celebrate the 2,000, for one day, will you take a step back before you start the drive to 3,000? Its part of what I saw and received as an athlete. We find the site next to Starbucks, Chipotle, Panera Bread, or the Five Guys. Working there for four years and seeing the business, I said to myself, No, I dont want a partner. 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. Everybodys affected by COVID, but your location, your geography affect you in many different ways, whether it be local regulations or state regulations. I go, Im not alone. Years back, we put a wreath on every tomb in Arlington Cemetery. I told my story about how I got started. Trump rewards loyalty, and Rudy has been steadfast from the gate. The workers coming in are like, Whats happening? People see you running and then they want to run behind you. Thats $150 million. Thanks, Fran. Despite his love of large crowds, the president consistently chooses home and family. I was standing in a little 400 square foot office, at Jersey Mikes store alone and I was saying, Lord, here I am. Its a whole team thing. The investment that goes in is exponentially higher in that training than actually when youre in there in the moment. We sent them subs and cookies. This show is a conversation with prominent visionaries, drivers of change and those dedicated to winning. 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. In business school, this principle sets the foundation of many different classes. He likes large crowdsthe largest crowdsand even after the election, he's organized campaign-style I say community because thats what it is from owners to your corporate staff, to the employees. We told the owners that. Count me in. It was not an option. For me, its integrity. She checked it and I saw her pointing to it. We say, Nothing. 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. Were on the business. Its an unbelievable movement right now where people are together. What are we doing next month? 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. Its having a culture that people can win together. They didnt know that certain businesses would be open. 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