For the past several decades, Mike Vitucci has owned and operated some of the best-known college campus hot spots and happy hour locations in Milwaukee – from Murphy’s Irish Pub and Caffrey’s to newer locations like Uncle Buck’s. Now he's setting his sights on his next business venture while supporting the next generation of business owners.
“I started working in this industry when I was 17 at my family-owned bar and restaurant,” Vitucci, who has been a U.S. Bank client for more than 40 years, said. “When your family tells you that you have to work, you have to work, and that gave me a strong work ethic at a young age.”
Vitucci found his passion for the restaurant industry while working at a bar when attending University of Wisconsin-Milwaukee in the 1990s. After working at several other locations in Milwaukee, Vitucci later returned to purchase the bar he once worked at.
Over the course of the next couple of decades, he grew his empire to five bars and restaurants in the heart of Milwaukee.
“It was very clear when we first met that Mike had a deep passion for helping the community as well as helping other small business owners in the restaurant and retail industry,” said U.S. Bank small business banker Brenda Alferez Salinas, who has assisted Vitucci in recent years. “This led us to talk about Mike’s legacy and about Eric, who now owns two of Mike’s former locations.”
Eric Titze initially started working for Vitucci providing security before taking on new parts of the business, including bar backing and managing employees.
“When we started talking about a possible takeover, we got deeper into what it takes to run a successful business, as opposed to just have a great time every day at the bar,” said Titze, who took over Murphy’s Irish Pub and Caffrey’s on the edge of Marquette University’s campus from Vitucci.
Vitucci introduced Titze to Alferez Salinas, who is now helping him navigate being a first-time business owner. This includes stressing the importance of building business credit, which is crucial to have when thinking about future expansions and growth, she said.
“We, as a bank, want to give them the best we have to offer – a holistic relationship that ensures that they’re feeling comfortable with what they’re doing and the legacy that they are leaving behind,” Alferez Salinas said, noting that the Titze runs most of his business with U.S. Bank, including using U.S. Bank business credit cards and making the most of online banking tools for his operating and business savings accounts.
For Titze and Vitucci, however, having a U.S. Bank branch nearby also gives peace of mind.
“I'm there every month to make sure the deposits are in and the cash is on hand. And there's always somebody there that recognizes us or gets to make sure to say hi on the way in. It's just a friendly place. It makes everything very easy,” Titze said.
As for the future, Titze said he is contemplating entering the food scene in a couple of years while Vitucci is turning his focus to commercial real estate development. In fact, Vitucci owns a building behind the U.S. Bank Farwell branch in Milwaukee that is home to a locally owned BBQ restaurant and a locally owned sushi restaurant.
Eventually, Vitucci plans on selling his last remaining bar, Uncle Buck’s, near Fiserv Arena and continuing to support those seeking entrepreneurial guidance from him.
“Having them succeed and move on to work for another company or to own their establishment, I get kind of a high from it,” Vitucci said. “There’s more gratification in that than the money I make in the business.”
Like Vitucci’s dedication to his employees and businesses, Alferez Salinas says it’s just as important for a bank to be invested in its clients – something that is instilled within her core beliefs as a banker.
“Small business banking is about establishing relationships with our business clients here at the bank,” she said. “We're able to give back and really show the value that U.S. Bank has to offer to our business clients by being active and engaged.”
For more about Vitucci and the changes, watch the video linked above.