Togo's Gets More Hungry Stomachs Rumbling In 2012 Sandwich Chain Continues West Coast Expansion with 10 New Development Agreements
SAN JOSE, Calif., June 4, 2012 /PRNewswire/ -- Togo's Eateries, Inc., a "West Coast Original" since 1971 serving up big, made to order sandwiches stuffed with the freshest ingredients, has experienced strong growth this year with the signing of 10 agreements for new restaurants in California, Nevada and Oregon. Additionally, three new Togo's have opened thus far in 2012 and are now serving residents in Bend, OR and Lathrop, CA, as well as Mountain View, CA.
"Our solid start to 2012 is a true testament to the dedication and passion our franchisees possess for the Togo's brand," said Tony Gioia, chairman and CEO of Togo's Holdings, LLC. "We often hear from our raving fans asking us to open a Togo's in their neighborhoods, and this demand is what is driving us to expand our footprint across the West."
During the first quarter of 2012, Togo's signed agreements to open six new locations in California, including one restaurant in San Fernando Valley, two in Monterey, and two in the East Bay, specifically serving Danville, Walnut Creek and Lafayette. An agreement was also signed to open four new Togo's in Eugene and Springfield, OR, one of which is slated to be near University of Oregon's campus. Additionally, plans are also in place to open a second Togo's location in Reno, NV this summer.
As part of Togo's 40-year anniversary, the nearly 250-unit sandwich franchise launched an aggressive growth strategy earlier this year and is actively recruiting passionate single and multi-unit operators to help grow the brand to 400 restaurants by 2015. In 2012, Togo's is targeting to open more than 20 new restaurants and remodel approximately 80 existing units.
"At Togo's, we make it our mission to ensure the success of our franchisees," said Todd Peterson, vice president of franchise sales, Togo's Holdings, LLC. "When you join the Togo's family, you own your own business, but you're never alone. Our unmatched support coupled with our 2-to-1 sales-to-investment ratio make Togo's one of the best franchise opportunities in the sandwich category."
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.