Industry News | February 19, 2013
Jersey Mike's CEO Recognized as IFA Entrepreneur of the Year
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Peter Cancro, founder and CEO of Jersey Mike’s Franchise Systems, has been named Entrepreneur of the Year, receiving the honor during International Franchise Association’s (IFA) 53rd Annual Convention, February 17–20, 2013.
First presented in 1982, the Entrepreneur of the Year Award recognizes an individual who is building a successful business venture, exemplifies the “entrepreneurial spirit” that franchising represents, demonstrates innovative management skills, and is a risk taker.
The Jersey Mike’s story started in 1956, when Mike’s Subs opened as a storefront location in the seaside town of Point Pleasant, New Jersey.
In 1975, at the age of 17 and a senior in high school, Cancro gave up a potential college football career to buy the popular sub shop where he had worked since age 14. Cancro credits his football coach and area banker Rod Smith with making it all possible.
In 1987, Cancro changed the name of the original Mike’s to “Jersey Mike’s” and began his national expansion. Today, the franchise system operates more than 600 restaurants in 33 states from New Jersey to California.
Cancro now eyes the goal of 1,000 units within the next five years, expanding nationally and internationally, a lesson in entrepreneurship.
One of his secrets to success is his philosophy of giving to the community in which he lives and works. Charities, hospitals, school systems, and numerous individuals have benefited from his support.
During March 2012, Jersey Mike’s celebrated its Second Annual Jersey Mike’s Month of Giving, a fundraising campaign supporting 74 local charities with a mission to help children.
Together with its generous customers, Jersey Mike’s raised nearly $858,000 for these charities. From June 30 through July 29, 2012, Jersey Mike’s and its customers raised $218,282 for Wreaths Across America and its mission to remember the fallen, honor those who serve and their families, and teach children the value of freedom.
The contribution helped WAA lay more than 110,000 wreaths at Arlington National Cemetery on National Wreaths Across America Day on December 15, 2012.
QSR® magazine has always found space to report on the charitable works and deeds of members of the foodservice community. But recently it became important to us to step up our efforts, and the decision was made to consolidate these stories in one place so you, the reader, could easily learn about what the industry is doing when it comes to giving back.
Our hope is that these pages will inspire and motivate you to take up your own cause—whatever that might be—to make our world a better place.
Dave Thomas, founder of Wendy's International, told readers in the very first issue of QSR magazine that "Profit is not a dirty word." But Thomas also worked tirelessly for the many charitable causes that touched his life. In so doing, he proved that running a successful business extends beyond the bottom line and that the real rewards in life are measured in a currency far greater than the dollar.
So let these stories inspire you to find your cause, if you haven't already done so. We encourage you to let us know what you're doing, so that others might follow your lead, pickup your cause, and contribute in ever more positive ways to our communities and lives.
Among the causes that QSR magazine supports is CureSearch for Children’s Cancer. CureSearch for Children’s Cancer funds the lifesaving, collaborative research of the Children’s Oncology Group, the world's largest, cooperative pediatric cancer research organization. More than 5,000 physicians, nurses and other researchers, at more than 200 hospitals in North America, treat 90 percent of children with cancer. Funding efforts by CureSearch allows children with cancer to receive world-class treatment and care close to home.
Only research cures children’s cancer. The cure rates have risen from 10% forty years ago to a 78% overall cure rate today. Our goal is 100%.
Be part of the cure. Together, we can conquer children’s cancer.
The U.S. Congress has under consideration a bill that would provide $150 million for childhood cancer research. CureSearch offers an easy email template to write your federal representatives in support of this bill. It may be the most rewarding five minutes you spend today.
