Industry News | June 7, 2012
Togo’s Continues Strong Expansion with 10 Recent Deals
Togo’s Eateries, Inc. 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, Oregon, and Lathrop and Mountain View, California.
“Our solid start to 2012 is a true testament to the dedication and passion our franchisees possess for the Togo’s brand,” says 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, Oregon, 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, Nevada, 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,” says 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 at more than $800,000.
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