Togo's Fuels Development In New Markets
Sandwich Chain Plans to Grow Brand in Key Cities Throughout the West Coast
SAN JOSE, Calif., July 18, 2012 // PRNewswire // -- Togo's Eateries, Inc., a "West Coast Original" since 1971 serving up big, made-to-order sandwiches stuffed with the freshest ingredients, announced plans today to expand its footprint in four key markets, including Salt Lake City, Utah; Boise, Idaho; Las Vegas, Nev. and Seattle, Wash. Additionally, the sandwich chain will continue its growth efforts throughout Oregon and Arizona. The new development strategy comes on the heels of strong growth for Togo's in the first half 2012, with the signing of 10 agreements for new restaurants in California, Nevada and Oregon.
"We are bringing Togo's to new cities and towns throughout the west to answer the call from our raving fans and create opportunities for new franchisees," said Tony Gioia, chairman and CEO of Togo's Holdings, LLC. "At Togo's, our high average unit volumes, low start-up franchise costs and unmatched corporate support are enabling us to develop in existing markets and new key growth cities."
To date, Togo's has opened five new restaurants since January 2012 in Tracy, Calif., Gilbert, Ariz., Bend, Ore. and Lathrop, Calif., as well as Mountain View, Calif.Togo's will continue to build the brand with 20 more new restaurants opening in 2012. The expanded growth efforts in new markets comes on the heels of eight quarters of consecutive same store sales increases and growing interest from new franchisees to join the Togo's family.
"Our brand has never been stronger and now is the time to join one of the best franchise opportunities in the sandwich category," said Todd Peterson, vice president of franchise sales, Togo's Holdings, LLC. "We're excited to bring Togo's to more communities across the West Coast and are confident the concept will be well-received."
As part of Togo's 40-year anniversary, the nearly 250-unit sandwich franchise is actively recruiting passionate single and multi-unit operators to help grow the brand to 400 restaurants by 2015. Most recently, Togo's formed a $15 million fund to fuel its development in 2012 and beyond. With this funding, both new and existing qualified Togo's franchisees will have access to $5 million to build new restaurants and $10 million for transfers.
Togo's traditional restaurants boast one of the strongest sales-to-investment ratios in the sandwich segment. At Togo's, 51 percent of its traditional restaurants operating for a full 12-months in 2010 experienced average unit sales in excess of $600,000, with 25 percent over $800,000.
Unlike the national mega-chains, at Togo's, each guest is offered a deli inspired one-on-one style service in a fun, friendly environment. There is a steadfast commitment to using only the freshest, superior-quality ingredients and proprietary proteins, which allows franchisees to serve food they can be proud of. California avocados are mashed daily, abundant quantities of lean pastrami, roast beef, turkey and other premium meats, and Artisan bread set the brand apart from other sandwich shops.
To become a part of the Togo's team and be your own boss, candidates should possess a liquidity of $150,000 for a single restaurant and a net worth of $300,000. Area developers looking to invest in three or more restaurants should have a liquidity of $450,000 and a net worth of $900,000. The estimated initial investment to own a Togo's is between $264,000 and $414,500 with a franchisee fee of $21,000 - $30,000.
About Togo's Eateries Inc.
Togo's was founded in 1971 by a young college student with a large appetite and little money looking to make sandwiches the way he liked them – big, made to order and stuffed with the freshest ingredients. Keeping in the spirit of the original, Togo's products are still made with only the highest quality ingredients; including fresh-baked breads, premium meats, cheeses and produce. Togo's is a franchise-based business, for more information call 1.877.718.6467 or visit http://www.togosfranchise.com. For more information on Togo's Eateries Inc., in general please visit http://www.togos.com.
SOURCE Togo's Eateries, Inc.