WEBVTT - Jersey Mike's CEO Peter Cancro Talks Best Buddies International

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<v Speaker 1>Today is Giving Tuesday. It's an annual day of giving

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<v Speaker 1>or showing up for an issue that we care about.

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<v Speaker 1>So in light of that, we had an exclusive interview

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<v Speaker 1>with the leaders of Jersey Mike Subs and Best Buddies

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<v Speaker 1>International about their partnership to hire people with intellectual and

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<v Speaker 1>developmental disabilities in each of Jersey Mike's nearly three thousand stores.

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<v Speaker 2>Take a listen, and I think people are starving for community,

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<v Speaker 2>and I think Best Buddies offered such a great community

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<v Speaker 2>of caring, community of giving, community of support. And I think,

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<v Speaker 2>you know, with Peter and Jersey Mikes and the support

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<v Speaker 2>we get from Corporate America International companies, it's a great

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<v Speaker 2>combination because jobs, job opportunities for people intellectual disabilities are

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<v Speaker 2>so sought after and so necessary since the unemployment rates

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<v Speaker 2>eighty five percent, and making people intellectual disabilities feel like

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<v Speaker 2>they're part of a corporate culture, and a corporate culture

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<v Speaker 2>that gives and cares and recognizes that, as I keep

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<v Speaker 2>saying to Peter, you can make a lot of money

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<v Speaker 2>and do good at the same time. And I think

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<v Speaker 2>a lot of corporations don't really recognize that and understand

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<v Speaker 2>that you can really be profitable and really do good.

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<v Speaker 3>Go together and.

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<v Speaker 4>Peter, I mean you're involvement with Best Buddies there's relatively new.

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<v Speaker 4>But your involvement in giving and dealing with some of

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<v Speaker 4>the issues that Anthony just talked about, you've been doing

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<v Speaker 4>that for years.

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<v Speaker 5>Yeah. So first got involved in nineteen seventy five, believe

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<v Speaker 5>it or not, so watching Bob Hoffman and Jack Baker,

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<v Speaker 5>local business guys gave to the community, to the First

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<v Speaker 5>Aid to the Kids programs, and I said, that's what

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<v Speaker 5>we're going to do. So we always gave from the

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<v Speaker 5>hearts and that's our mission statement. We have all of

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<v Speaker 5>our owners that get involved as well. But Best Buddies,

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<v Speaker 5>I mean so great. Every store has about fifteen employees,

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<v Speaker 5>small team, and when the Best Buddy joins become part

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<v Speaker 5>of that family in the community that they serve, it's

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<v Speaker 5>really just a magic, magic touch.

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<v Speaker 1>Anthony mentioned that you can make a lot of money

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<v Speaker 1>and do good at the same time. I know that

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<v Speaker 1>you recently had a fundraising Bonanza Week where you raised

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<v Speaker 1>a lot of money and also brought in a lot

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<v Speaker 1>of sales. Can you talk us through some of the numbers?

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<v Speaker 5>Sure? Sure, So we went with the campaign during election

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<v Speaker 5>week and even Tuesday we're on major news networks running

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<v Speaker 5>the ads and then the college football game of the week.

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<v Speaker 5>Our whole media plan was geared towards Best Buddies, and

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<v Speaker 5>I think the whole nation came out. And usually we

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<v Speaker 5>raise about four million on the special weekend programs that

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<v Speaker 5>we do, but this weekend we raise what five point

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<v Speaker 5>three million, So incredible turnout, incredible success for the cause

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<v Speaker 5>and Anthony.

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<v Speaker 1>The program allows for Best Buddies to work in Jersey

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<v Speaker 1>Mikes stores. The idea is to have at least one

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<v Speaker 1>Best Buddy in every one of Jersey Mikes three thousand,

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<v Speaker 1>almost three thousand stores. What's been the feedback from those

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<v Speaker 1>who are working there.

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<v Speaker 2>I mean it's huge, right, I mean it's a game

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<v Speaker 2>changer for us. I mean I've been at this thirty

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<v Speaker 2>five years. I think you know, my mother would wouldn't

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<v Speaker 2>believe that this was happening when she started Special within

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<v Speaker 2>the sixties. That you know, a corporate leader like this

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<v Speaker 2>commits that kind of money, that kind of creativity, and

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<v Speaker 2>commits to that number of jobs. There's no company in

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<v Speaker 2>the world that has committed three thousand jobs in the

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<v Speaker 2>history of this operation ever. Ever, so it's a really

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<v Speaker 2>huge monumental step in the right direction for the employment

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<v Speaker 2>of people intellectual disabilities and really making them feel like

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<v Speaker 2>they count and they matter and they have a seat

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<v Speaker 2>at the table.

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<v Speaker 4>I do want to talk a little bit about your

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<v Speaker 4>origin story, because it's just kind of the whole creation

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<v Speaker 4>of Jersey Mike's is kind of like it's like a

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<v Speaker 4>Hollywood movie. You know, you're basically a teenager who somehow

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<v Speaker 4>to pull together one hundred and twenty five grand or

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<v Speaker 4>whatever it was. You buy a local submarine shop, you

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<v Speaker 4>turn it into this big franchise, and you just recently

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<v Speaker 4>sold it off the Blackstone for a good chunk of money.

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<v Speaker 5>Now so I heard and billions.

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<v Speaker 3>And it's I mean, everyone watching this and watching the

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<v Speaker 3>trajectory of your career, I think would want to model themselves,

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<v Speaker 3>not just because of the success and the money that

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<v Speaker 3>you made, but also to what I think what Anthony

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<v Speaker 3>is getting to is the ethos and the culture of

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<v Speaker 3>getting that sort of helped to fuel that.

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<v Speaker 5>I think a lot of people so they come into

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<v Speaker 5>the stores and they say, hey, we hear what you're

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<v Speaker 5>doing for the community, for the kids, and that's why

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<v Speaker 5>we're here, And oh yeah, your subs are good. It's

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<v Speaker 5>almost secondary and it's kind of funny, but it's something

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<v Speaker 5>that we've always done and all the owners really get

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<v Speaker 5>it and they're all engaged in it. So that's what's

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<v Speaker 5>so great. So it was a football coach of mine,

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<v Speaker 5>youth football coach that was a banker, and on a

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<v Speaker 5>Sunday night I went in and said, hey, you know,

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<v Speaker 5>he said, I think we can do something, and he

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<v Speaker 5>did so seventeen in high school, took over, went to

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<v Speaker 5>homeroom history class and skipped Jim and a few other classes,

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<v Speaker 5>but they finally did graduate me and then just work

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<v Speaker 5>the business. So I call it fifty years overnight success.

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<v Speaker 5>This March will be fifty years wow. So it a

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<v Speaker 5>slow climb from really the last decade, you know with

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<v Speaker 5>the media and the marketing, but the giving has been

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<v Speaker 5>just NonStop talk about.

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<v Speaker 1>The managerial and industry specific support you anticipate from this

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<v Speaker 1>partnership with Blackstone, and how you're going to keep that

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<v Speaker 1>corporate culture, which includes partnerships with best buddies intact.

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<v Speaker 5>Well, they get the corporate culture, they see it, they

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<v Speaker 5>understand it, and absolutely will continue with it. They see

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<v Speaker 5>that it's part of our huge success that we've had,

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<v Speaker 5>that people accept us in every community we go in

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<v Speaker 5>and it just really takes off. The brand now is

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<v Speaker 5>so strong. But them coming in and getting involved great

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<v Speaker 5>international possibilities. We're close to an announcement with London, England,

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<v Speaker 5>United Kingdom maybe in a month or so. We started

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<v Speaker 5>in Canada outside Toronto, so the expansion looks great. Of

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<v Speaker 5>course the US we have a long way to go

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<v Speaker 5>as well.

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<v Speaker 1>I got to ask one more final question about the

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<v Speaker 1>path forward for Jersey Lakes now that this Blackstone deal

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<v Speaker 1>has been announced. You're known for being a very hands

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<v Speaker 1>on owner your franchises. How do you anticipate that involving

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<v Speaker 1>with Blackstone's partnership.

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<v Speaker 5>Well, January, I go start January, February March, go to

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<v Speaker 5>thirty five cities across the country to make sure we

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<v Speaker 5>have a great transition, to answer questions, to get in

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<v Speaker 5>front of managers assistant managers. So that will continue very strongly.

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<v Speaker 5>And also in England. I'm going to be driving sites

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<v Speaker 5>with the owners and you know, I love that part

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<v Speaker 5>of it, just being involved and of course still slicing

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<v Speaker 5>the subs. I'm still the fastest slicer.

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<v Speaker 4>Peter Kancrow there of course, the billionaire founder of Jersey

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<v Speaker 4>Mike Subtz, alongside Anthony Kennedy Shriver of Best Buddies, talking

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<v Speaker 4>not only about his business, but more importantly Scarlett obviously

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<v Speaker 4>some of the charitable work that he tries to sort

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<v Speaker 4>of facilitate through his business with reguards of Best Buddies

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<v Speaker 4>and dealing with people with the intellectual and development disabilities,

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<v Speaker 4>a great, great project,