This is an iHeart podcast. Guaranteed human. This July 4th at Lowe's, get up to 45% off select major appliances. Plus, save $80 on a select Charbroil Performance Series gas grill.
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This is Lee Habib and this is Our American Stories, the show where America is the star. and the American people. to search for the Our American Stories podcast. Go to the iHeartRadio app. or wherever you find your podcast.
Up next, we bring you a story that starts in my home state, and that is New Jersey. While most of the world had no idea what the submarine sandwich was, back in the 1960s. One fourteen year old boy took a job making them at a sandwich shop and at the Jersey shore in Point Pleasant, New Jersey. Here's Peter Cancro. to tell his story.
On the Jersey Shore in the summer, it became very, very busy, inundated with so many people from North Jersey and New York, so the jobs were very plentiful.
So I started out, believe it or not, mowing lawns.
So at the age of 10. I had three lawn mowing jobs, one that paid $3, one that paid $350, and one that paid $5. And that year, that was big, big money. Cash money. Used to crawl underneath the boardwalk and pick up the loose change that people dropped through the cracks.
made money that way and then washed and cleaned uh cars. And then the first job was at Mike Subbs in 71.
So I was a fourteen-year-old. My brother. worked there the year before and told the boss So look at my brother, I know he'll work hard. but I'm not sure how bright he is. And so that's how I got the job.
Started out at $1.75 an hour. And I was gonna possibly work at Hoffman's Ice Cream, another mentor of mine, Bob Hoffman. Uh he was going to pay a dollar fifty, but uh went to Mike's for $1.75 and that was uh that was Pretty good money back then. I think the minimum wage maybe was like 80 cents back then.
So friends of mine were making 80 cents an hour. I was making $1.75.
So I walked into Mike Subbs, you know, age 14, first job. And my voice mattered, and that was the culture. That was in Mike's. It was, you joined a team, and they kind of brought you on board. It wasn't like you were the rookie or they made you pay dues or a price, no.
They brought you in, and you were part of that whole team, and they cared about your development and how you worked, and they spent the time. with each new person coming in. They did a great job with that, spent time with us. The volume was Obviously incredible. Jersey Shore in the summer.
I mean... Crazy sales we did like a hundred thousand dollars a week in sales today's dollars. you know, averaging like 850, 900 bread a day. It was incredible volume, the number one sub shop, if you will, in the country, in the world, because there wasn't really any of that back then.
So in 56, Mike's opened by someone named Mike. and the Jersey Shore and that was really there was no McDonald's or Burger King in town then there was no fast food restaurants so it was really a unique product the submarine sandwich. The meal within itself, if you will.
So, really captured a lot of attention, and all the people traveling to the shore and then going back out to where they lived around the country. Word spread. And when I got involved in 1971 and then later bought it. Everyone to say they don't have anything like this where I'm from: California, Ohio, Chicago. And it's funny how we used to get people to come in and take the subs, wrap the travel, and take them back all over the world.
A guy would come in every third Thursday and take them back to London.
Somebody would take them to South America, had a doctor's group that took them to the Soviet Union at the time, Russia.
So we always kind of would highlight that and kind of Have a laugh about it. We used to wrap in the travel, put the oil and vinegar on the side. Had to have this special container and make sure they showed him how to sprinkle it on, you know.
So that was always fun. You have fun with the people coming in and they have fun with you in return.
So you're three feet away from the customer and they're coming in whether they've had a bad day or not. You try and turn them around, you know, turn their day around, make an impact. You know, kind of share your life with the customer. And that's kind of what we're taught: that culture about kind of raising up, kind of putting your arm around them. you know, involved with your regular customers, it's repeat business.
They shake their heads, you know, Peter. You know, I can't believe, you know, the people you've got in here, the service. Oh yeah, your subs are good. That was always secondary. It was always the service.
And it was more than just, hi, how are you today? Thanks very much for coming again. No, it was real. It was genuine. And it's the eye contact.
It isn't always something that you say as much as. you know, looking in people's eyes and nodding and, hey, how are you? You know, thanks, you pick up the bag to go, and so there's a lot of little nuances that go into it.
So I started in 71 and then worked there summers and through the winters part-time. And then the owner, Victor Merlow at the time, put it up for sale. And that was in 75. It went up for sale and I thought for the first time I'll be able to go to Florida, you know, on spring break because I was always working every other spring break. I couldn't go.
So this I said, all right, I'm going to be able to go this time. All of a sudden, I went home one night, and my mother said, I heard Mike's is for sale. And at first I was a little upset, like, well, how'd you know? You know how moms are, they find out everything.
So she looked me in the eye as I was going up the stairs. And she said, Well, why don't you buy it? And you're listening to Peter Cankro tell the story of Jersey Mike Subs and how it came to be. And by the way, he's a hustler from the time he starts. And by the way, what we've learned is you can't teach entrepreneurship.
You can't teach risk-taking, guts, and just doing it. No college for this guy. No good grades, bad grades. I love the line. He'll work hard.
We're not sure how bright he is. When we come back, more from Jersey Mike's founder, Peter Kenkro, here on Our American Stories. Lee Habib here again. Our American Stories tries to tell the stories of America's past and present to Americans, and we want to hear your stories too. They're some of our favorites.
Send them to us. Go to ouramericanstories.com and click the Your Stories tab. Again, please go to OurAmericanStories.com. and click. the Your Stories tab.
This July 4th, come celebrate at America's Block Party, hosted by America 250. America's Block Party is a Camp Miss 4th of July concert happening at the Los Angeles Memorial Coliseum. Experience music performances by major artists, patriotic tributes, and the kickoff to Giving Forth, helping to make July 4th the largest day of giving in American history. It's more than just fireworks. Join this landmark celebration and get your America's Block Party tickets now for $17.76 at America250.org/slash LA.
It's America's 250th, but you deserve some presents too. Simon Malls, mills, and premium outlets have can't-miss sales July 3rd to 5th. Join Simon Plus, our new rewards program, for free and get 2.5 times the points in addition to extra savings, cashback, and offers that also work at shopsimon.com. Grab the fam, head to a Simon Center, and make it a day for the books. It's a celebration thing.
Sign up today at SimonPlus.com. Rewards program terms apply. See SimonPlus.com for details. The United States is about to mark its 250th anniversary. And so, on the Global Story podcast from the BBC, we're telling surprising tales of American influence on the world stage and in ordinary people's lives all across the globe.
We have this ability to export our story, and a lot of people have bought it. I feel like the American dream is alive, but not well. From the BBC, it's the United States at 250. Listen wherever you get your podcasts or find us on YouTube. Aging is real.
And so are the benefits of adding vital proteins, collagen, peptides to your daily routine. Because around the age of 30, your body needs backup to keep your collagen up to help support healthy hair, skin, nails, bones, and joints. Available in the classic collagen peptides, collagen and protein shakes, and new vital proteins, collagen, sparkling waters.
So you can stay vital, stay you. Visit vitalproteins.com to learn more and where to buy. These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease. I'm going to talk about money.
And that can stress people out, understandably, because there's always something. Rent, mortgage, kids, student loans, the future. What you need is something to bring the financial stress levels down a notch. What you need is Ally Bank. A bank that looks out for your money and you.
With Ally Bank, there's no tricks, no hidden fine print, no jumping through hoops for better rates. They're a bank that wants to take care of your money and help you. Help you spend smarter by automatically analyzing spending to find surprise savings. Help you save faster with great rates and smart savings tools for the things that matter to you, like travel or a new home. help you by elevating your banking without adding anything to your plate.
Ally is designed for people like you, for how you actually live. No tricks, no hidden fees, banking built for life today. Ally Bank, member FTIC. And we're back with Our American Stories and the story of Peter Kankro and Jersey Mike Subs. At the age of 17, his mother suggested he buy the sub shop.
He worked at. at the Jersey Shore. back to Kenkro with his story. Uh And I sort of laughed. laughed at her, turned, went up the stairs, and it took one flight of stairs.
Before a trigger went off in my head, it was a Sunday night. And I got up the next morning, didn't go to school for that week, called the owner that morning, I said, You know, Victor, I'm going to, you know, try, where are we? I'm going to try and raise the money.
So, well, I've got two people demanding a contract. I can probably hold them off a little bit.
So, I went out literally knocking on doors, telling people, you know, I worked there for four years, I know the business. This is what I'm looking to do. And I live next door at a couple of. wealthy towns, if you will, and went to see those folks. And just called them up and knocked on the door and went to see them.
And they were receptive, but as you know, trying to raise capital and money, it's always difficult. And then Called up coach Rod Smith, who was my youth football coach, who was also a banker. And it was a Sunday night, and he said, yeah, come on over.
So I went to talk to him and He said, you know, I think we can do something. And he did. And we closed on the place March 31st, 1975. I was 17 in high school.
So I would go to homeroom history and skip gym, English, and a few other courses. And it's funny, I wasn't going to be able to graduate in June because I missed like three months of gym.
So I had to come up with a medical excuse. I was president of my class. People said, oh, you're going to ruin your life. I was supposed to go. uh possibly s you know, study law at University of North Carolina at Chapel Hill.
but bought a sub shop instead.
So it was $125,000, 1975, so. I don't know, maybe 600, 700,000 today's dollars.
So for a 17-year-old to borrow that, you know, no money down. All financed. You know, what if the business doesn't do well? You know, what happens? that kind of thing so The owner For years, I didn't raise the prices.
So I get in and take over the business, and that happens sometimes, where you go. a year, two years, three years.
Well he hadn't raised the prices in like five years. And we've got a lot of volume. We're putting money in the bank and paying the bills, and you find out about. Um unemployment disability tax and quarterly payroll taxes and all of this and it's like wow You know, and you sort of see that, you know, oh my goodness, I've got to raise the prices. And I thought, you know, no one would come in and buy a sub ever again.
But we did, we raised the prices and. Not one person said anything. You know, the first day, second day, except one person actually came in with exact change. And oh, the price went, oh, okay, I said, don't worry about it. You know, oh, no, I'll bring it next time.
No, no, it's good. You know, so what that showed me is that you never cut the quality or service, but you've got to. Get the right amount of money for your product.
So 75 took over and the volume was incredible and worked the store and business and you know for years people were wrapping the subs to travel and I can't believe it, we don't have anything like this. It wasn't until gosh like 86 that Finally, we said, you know, You know, we should try and start franchising. And that was a process. Going to different companies and attorneys and figuring it out. And there wasn't any road map there.
I had to figure it all out. It wasn't, I didn't have any mentors in business to kind of show me. Today, like it's funny, today people say, I want a franchise. Oh, let me talk to you. You know, I could shed some light on this whole industry.
Finally, start a franchise eighty six, eighty seven. And it took off. People came in, we didn't advertise to sell, and it really grew very well in Ocean and Monmouth County. And then we went out to Ohio, we went out to Tennessee. and opened the store and We got the best sub award for by reader's choice.
awards pretty much in Ohio and Tennessee. And that's happened almost in virtually every market that we went to. We had one store in California, one store in Seattle, we'd win the best sub-award, best sandwich award in the market.
So it kind of told us something like, wow. This can work across valleys, mountains, you know, and... and one store, and we never had a goal of opening a second store or plan. It just sort of evolved and happened. People would come in, try the product, oh my goodness, this is great.
I want to open up one.
So that's how it evolved, you know, and just really grew through word of mouth.
So we franchised and it grew and We built up a number of stores, but um You know, we would go and commit to the store, but I tell you, when we opened one store in a totally different market, we went and we opened up that store with the owner, we stayed. you know, for weeks, for a month if we had to, a month and a half. And with several people, so the amount of money that we spent and committed. To the owners was incredible, you know, more than franchising would do. And I think that's the.
Reputation we have as a company, as a franchise company, is that we are true partners with the owners. You know, and it's really uh been giving us an edge, if you will, you know, out in the marketplace.
So yes, so in the beginning when we started franchise and boy, it really took off and every dime we made we put back into the business. And if we had leftover money, we were pushing the marketing for that store opening. And we evolved to the point where we were opening and spending all the money. And end some, so we had a boy, everything was fine as long as we kept opening. 91 happened and that recession.
There were many recessions from 1975 till now, but that one was the one that hit our company the worst.
So, banks in the Northeast. All of them got hit. There was even a local bank that actually went out of business here in the Toms River area.
So, banks were giving money non-stop to everybody that wanted to open a business, and all of a sudden, no money. Nobody could borrow any money.
So we sort of flatlined for a while. I was negative like a million and a half, a couple of million dollars. I said, oh boy. and everything I had to lay off. And it just really, you talk about just devastating your life, your soul, everything.
Um but uh slowly you know, came back and then hired everyone back. But I tell you, that was a dark time because you know, first time in my life that I went down and got stripped, sold everything. And it's funny, the 401k plan that people have, I liquidated that. you know, how to take the penalties and later on I liquidated it again.
So it's funny, I don't have a 401k plan still today because I say it's bad luck. Yeah, I'll have to liquidate it, you know?
So it's funny.
So that lesson learned, you still remember today. you know about don't overexpand you know you're you're tempted to push push and expand let's go And that's great to have that attitude, to have that you know, really the push, but you gotta play smart ball as well with business. It was quite a process. It took probably Gosh, you know, a couple of years where we just had a, you know, hired back a couple of guys and slowly grew. But we weren't growing in a lot of other markets.
We didn't have the multi-unit owners that could finance their own stores. We had owner operators, so it really took a while, 92, 93. you know wow this is really humbling you know from having greatness and achievement and success and then to be humbled down. Oh gosh, it wasn't until like Towards 93, 94, all of a sudden, you know, okay, now North Carolina guy came in and opened up. And then somebody saw the store.
Oh, I want to open up. And I think the economy in Raleigh, North Carolina, then was. Really started back sooner than most other economies with the research triangle and the college universities and so. North Carolina really made our company. And you're listening to Peter Cancro tell, well, as we've come to know, the typical entrepreneur's story, except when he went to raise capital.
He was seventeen. It's the hardest work there is convincing somebody to give their money to you on an idea. And my goodness, instead of a lawyer and another one, we have Jersey Mike Subs, a place I would drive an hour to. just to get their number two. When we come back, more of Peter Cancro's story, his entrepreneur's story, filled by the way always with failure and with setbacks.
And again, that's what makes the entrepreneur not just the risk-taking, but plowing through the hard times to the other side. And when we come back, more of Peter Cancro's story, Jersey Mike Sub's story here on Our American Stories. This July 4th, come celebrate at America's Block Party, hosted by America 250. America's Block Party is a Camp Miss 4th of July concert happening at the Los Angeles Memorial Coliseum. Experience music performances by major artists, patriotic tributes, and the kickoff to Giving Forth, helping to make July 4th the largest day of giving in American history.
It's more than just fireworks. Join this landmark celebration and get your America's Block Party tickets now for $17.76 at America250.org/slash LA. It's America's 250th, but you deserve some presents too. Simon Malls, Mills, and Premium Outlets have Can't Miss Sales July 3rd to 5th. Join Simon Plus.
Our new rewards program for free and get 2.5 times the points in addition to extra savings, cashback, and offers that also work at shopsimon.com. Grab the fam, head to a Simon Center, and make it a day for the books. It's a celebration thing. Sign up today at SimonPlus.com. Rewards program terms apply.
See SimonPlus.com for details. The United States is about to mark its 250th anniversary. And so, on the Global Story podcast from the BBC, we're telling surprising tales of American influence on the world stage and in ordinary people's lives all across the globe. We have this ability to export our story, and a lot of people have bought it. I feel like the American Dream is alive, but not well.
From the BBC, it's the United States at 250. Listen wherever you get your podcasts or find us on YouTube. Aging is real and so are the benefits of new vital proteins, collagen, sparkling water. Because around the age of 30, your body needs backup to keep your collagen up.
So get your daily glow up now in three fresh flavors. Strawberry blossom, lemon lime, and blood orange. Improved skin health in as little as 30 days thanks to collagen peptides? Cheers to that.
So you can stay vital, stay you. Visit vitalproteins.com to learn more and where to buy. These statements have not been validated by the drug administration. This product is not intended to diagnose, free, cure, or prevent any disease. I'm going to talk about money.
And that can stress people out, understandably, because there's always something. Rent, mortgage, kids, student loans, the future. What you need is something to bring the financial stress levels down a notch. What you need is Ally Bank. A bank that looks out for your money and you.
With Ally Bank, there's no tricks, no hidden fine print, no jumping through hoops for better rates. They're a bank that wants to take care of your money and help you. Help you spin smarter by automatically analyzing spending to find surprise savings. Help you save faster with great rates and smart savings tools for the things that matter to you, like travel or a new home. help you by elevating your banking without adding anything to your plate.
Ally is designed for people like you, for how you actually live. No tricks, no hidden fees, banking built for life today. Ally Bank, member FTIC. And we return to our American stories. And to the story of Peter Kenkro and how he grew Jersey Mike subs from one shop on the Jersey Shore to nearly 2,000 locations.
By 2020, if you're lucky enough to have one near you, well, I don't have to tell you what most of us at the Jersey Shore already knew. Here's Peter to tell us more about how he used the company's success. You do good. Um Around the country, 1700 stores are about open right now and You know. The growth now is really starting to escalate because it's all coming from within.
But it's people, the owners get it, and that's the people that we want to come on board with us. that share that culture. That we're gonna get involved in the community. We're gonna give.
Now, obviously, you have to have a good business model and make profits to be able to give. But it's kinda it has to What comes first? You know, so right away we start by opening up and donating money to a local charity. and raising awareness for the local charity. And I think that's the most important thing is not Patting ourselves on the back or saying, Hey, we do this.
We know it's about raising awareness for that local charity. Because you know how it is today, the cutbacks. all across the country with government subsidies. Or maybe it's just really the way it's always been. Businesses need to do their part.
Small, big, medium companies have got to commit. More than ever. To the community. And I tell you, if you do that, we found. that people really get it.
They hear about it.
Now we don't advertise half of what we do, but people come in and go, you know, Peter, I hear what you're doing.
So we open up on a Wednesday and we go out door to door a few days before. Um kind of get involved with the local Local charity, it could be Booster Club, it could be First Aid, it could be Children's Hospital. It varies, again, wherever the owner wants to go after. We'll go out and say, hey, come on in, free sub with your $2 donation. because it's going to a local charity.
Because people have never been in, never tried our sub, possibly in a new area that we open. We say, hey, you know, come on in and give us a try, and just for two bucks, and you're going to help the.
Okay, that sounds great. And we open and it's a catch-22 because it's just packed. But we got the people and the staff and we're kind of cranking it out as we say. And um We raise the money and gosh, it's sometimes 10,000, 20,000 from the opening or. You know, sometimes 5,000, but it's every store does it.
And it's a way to kind of We're here, you know. Hello, we're making an impact, and the owners really love it. The crew love it. They're like, wow, we've never been involved in something like this. Nobody kind of does this, you know?
So, but I I tell you, I think it's You know, I'm a big proponent of You know, turn off the news, right? And if you look at it, it's a huge movement out there in the world of good. You know, things are happening. Things are really rising up. people are kind of uniting and together.
Unlike what the news says, You know, we see it totally different. We see You know, we're optimistic about the future, about what great things are happening. Sure, there's always negative, absolutely, but if you focus on the great stories, the good, I mean, wow.
So turn off the news to the audience, right? Not the radio station, but the TV news. Keep the radio on.
So that's what gets me so fired up. about our growth and here we go. People from within already have stores, they want to open up additional stores.
So 75% of our growth is from within. We have outside people coming in, individual owner operators, which is what I love. you know, have never been in business before, come in and You know, we train, teach, mentor, coach them, and off they go. And we have multi-unit owners coming in and like, wow, the brand I'm with now isn't like this. And we go, well, you know, this is what we do.
You know, it's never knocking anybody else, it's about what we do. And they get it, and okay, let's do it.
So we're involved in signing lease. We're involved in getting the location, everything we're involved in. We don't let anything go to try and help ensure the success of the operation. Alvaro came from Nicaragua and was in. With the rebellion and bombs going off and exploding.
I think his mother was missing for a day or so. They thought he was killed. And then later, years later, he comes to this country, immigrates, and was working with Domino's Pizza. you know, an amazing worker and just non-stop and Gets involved with us, and we had a connection. You know, I meet Alvaro, I go, What are you doing?
You know, and I hear about his background, and he looked at me and goes, What are you doing? You know, so I love people kind of that connection, and today he. You know, he has, I don't know, like 55 stores. He's the largest franchisee. Cares about his people, committed to the communities.
He really gets it. and he and his wife Blanca and his whole family are part of our family. You look at the freedom that we enjoy, and you look at. like Reese Across America, they say You know, remember the fall and Honor those that serve. But teach our children the value of freedom.
So important that, you know, the kids. growing today understand that. And that it's, you know, it's not free. And I remember being on the plane with. A captain in the Marine Corps, and he said, Peter, the conflicts around the world.
Are escalating, they're not stopping. You know, it's just. Every day, you know, we hear of something going on. And we're in this little bubble sometimes where, but not so much anymore because of the news, we hear what's going on, but you know, our country and what we stand for around the world maybe is tarnished, but. Uh they don't understand kind of our hearts are for the common good of all people in this country, all people in the world.
We've always been out there saying, what can we do to help? You know, that whole motto of raise up together and then pull people along instead of pushing. You know, when I was 14, I went in, they didn't push. You know, do this, do that. No, they pulled you along, said, Hey, we can do it, we can do it together.
And you know, it's funny they'll say, These kids today, you don't understand, we can't find good help, good kids. And that's what they said in the 70s. You don't understand, you can't find good help, good kids. You don't understand these kids today. And they said it in the 80s and the 90s, and today they're saying the same thing.
And I say, no, no, it's recruiting, it's having the right, you know, attitude, the right culture. And they will see it and they'll come in and they will thrive. They will love the place. We loved going to work at Mike Subbs, you know, back when I was a kid. We wanted to go in, we wanted to be part of that culture.
So it wasn't me. It was the crew before me, the owners before me. It was the culture that we learned, that we brought.
So anyway, so it's always learning and getting it and then running with that. I'm just trying to keep it going across the country. And that's, you know, I never really like to tell my story, I never like to talk about it, but. You really need to, so people hear it, you know, and maybe it impacts. You know what?
I'm gonna do that too. And that's where I tell the local owners: you gotta celebrate it. because it's exposure awareness for the local charities. And maybe they hear it. and they want to get on board too.
And it helps. The marketing and people at the companies that really aren't into it.
So, what? It's helping. charities raise money and awareness, even if it's maybe shot up from because it's the big thing to do. It doesn't matter. If it's winning and helping the charities, terrific.
And a terrific job on the production and editing by our own Robbie Davis. And a special thanks to Peter Kankro for sharing his story. And Peter told the story of what good owning businesses can do. And by the way, helping charities, absolutely. But he also employs people and supports the tax base for that town.
A terrific story about so many things, but in the end, the heart of an entrepreneur and all the good it does. And by the way, the yummy sandwiches, they make indeed the best sandwich in America and the world. A Jersey Mike sub number two, Mike's Way. The story of Peter Kankrow. Here on Our American Stories.
Yeah. This July 4th, come celebrate at America's Block Party, hosted by America 250. America's Block Party is a Camp Miss Fourth of July concert happening at the Los Angeles Memorial Coliseum. Experience music performances by major artists, patriotic tributes, and the kickoff to Giving Forth, helping to make July 4th the largest day of giving in American history. It's more than just fireworks.
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The United States is about to mark its 250th anniversary. And so, on the Global Story podcast from the BBC, we're telling surprising tales of American influence on the world stage and in ordinary people's lives all across the globe. We have this ability to export our story, and a lot of people have bought it. I feel like the American Dream is alive, but not well. From the BBC, it's the United States at 250.
Listen wherever you get your podcasts or find us on YouTube. Across America. Money is being abandoned. By taking a few seconds to check lift before your next ride, You can give money a better home. Inside your wallet.
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