Industry News | March 14, 2013
Togo's Makes Big Plans for Colorado Growth
Togo’s, a “West Coast Original” since 1971 serving up big, made-to-order sandwiches stuffed with the freshest ingredients, announced it is targeting Colorado for future development in 2013.
The San Jose, California–based sandwich chain is looking for qualified franchisee candidates with local market knowledge to grow the brand in Denver, Boulder, Ft. Collins, and Colorado Springs, among other metropolitan areas across the state.
“We’re excited to announce Togo’s is opening franchising in Colorado, the eighth state for our brand,” says Tony Gioia, chairman and CEO of Togo’s Holdings.
“We are open to developing in markets across the state and have begun accepting applications from qualified multiunit franchisees that have a passion for the brand and a strong connection to their local community,” he adds. “When Togo’s comes to town, we not only bring great sandwiches, but we bring jobs as well. Our growth helps local economies in real estate, construction, and the service industries.”
Togo’s experienced a strong 2012 with the signing of 30 franchise agreements. Recent deals include development agreements in Boise, Idaho; Healdsburg, South Lake Tahoe, Fresno, Novato, Costa Mesa, Patterson, and Dinuba, California; and Eugene and Medford, Oregon.
“Togo’s 10 consecutive quarters of same-store sales increases, coupled with our passionate franchisees and loyal customer base, is a recipe for success, allowing us to expand in new and existing markets,” Gioia adds. “I have no doubt we’ll see great results in Colorado.”
As part of its 40-year anniversary in 2011, Togo’s announced its goal to grow the brand to 400 restaurants by the close of 2015.
To help fuel growth, Togo’s offers new and existing franchisees access to $15 million in financing for qualified candidates to both build new restaurants and for transfers.
At Togo’s, 51 percent of its traditional restaurants experienced average unit sales in excess of $600,000, with 25 percent more than $800,000.
To become a part of the Togo’s team, candidates should possess liquidity of $150,000 for a single restaurant and a net worth of $300,000.
Area developers looking to develop three or more restaurants should have liquidity of $450,000 and net worth of $900,000. Special incentives are available for qualified franchisees interested in opening three or more restaurants.
Food & Beverage
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