Jersey Mike's founder and CEO Peter Cancro discusses his history with the company, how the eatery stays in business and the labor crisis.
As multiple industries grapple with a labor shortage following the COVID pandemic, Jersey Mike’s CEO says it’s becoming "more and more difficult" to hire teenagers.
"We just hope that the labor rates, they don’t forget 14 and 15 and 16 and 17-year-old kids, we need a separate wage for them," Peter Cancro stressed during his appearance on "Cavuto: Coast to Coast" Tuesday.
The founder and CEO of Jersey Mike’s discussed the company’s resiliency throughout the labor crisis and the success the popular sub spot has seen in recent years.
Despite the lackluster interest from potential teenage hires, the company has managed to stay afloat during the post-COVID labor challenges.
"The labor crisis really hasn’t touched us because of the 15 people on the roster total. And we go out, and we recruit," Cancro told FOX Business’ Neil Cavuto.
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Jersey Mike’s, once called Mike’s Subs, opened its doors in 1956 in Point Pleasant, New Jersey.
Since franchising in 1987, the eatery is coming up on 3,000 stores in the U.S.
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"You remember some large chains out there were five or 6,000 units, and now they’re gone. We managed to keep growth there," Cancro said.
"We go out around the country and really talk about what we’re doing as a company," he continued.
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Cancro praised the eatery’s initiative, Power of the Sub Sandwich, a company-wide effort to "make a difference in people’s lives."
"We’re really known for that," he expressed, adding that the company has raised more than $4 million for the USTA Foundation.
"We’re going after exposure and awareness for charities," Cancro explained.
At 14 years old, Cancro started working at Mike’s Subs and bought the company three years later.
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"I got involved in ‘71 and was able to purchase a store in ‘75. I became the fourth owner through the help of a football coach of mine who was a banker. So off I went. Got an early start at the age of 17," he said.
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