Industry News | January 25, 2013
Togo's Took Hold of West Coast in 2012
Togo’s, a “West Coast Original” since 1971 serving up big, made-to-order sandwiches, signed 30 franchise agreements in 2012 as the brand continued its aggressive expansion across the West Coast and celebrated 10 consecutive quarters of same-store sales increases.
The San Jose, California–based sandwich chain opened 11 restaurants in 2012, most recently in Pasadena, Oxnard, Truckee, Madera, and Danville, California; and in Bend, Oregon.
The brand also signed a franchise agreement to develop five restaurants in the Boise, Idaho, market over the next several years, the first Togo’s restaurants in the state.
Additionally, new agreements were also signed for Healdsburg, South Lake Tahoe, Fresno, Novato, Costa Mesa, Patterson, and Dinuba, California; and in Eugene and Medford, Oregon.
“Togo’s has never been stronger. Our 10 consecutive quarters of same-store sales increases are fueling demand for new franchisees to help us enter new markets and encouraging existing franchisees to expand,” says Tony Gioia, chairman and CEO of Togo’s Holdings. “As we head into 2013, we will see strong growth for Togo’s in California, Idaho, Washington, Nevada, Utah, Oregon, and Arizona.”
In addition to Boise, the brand is targeting cities such as Portland, Phoenix, Seattle, Las Vegas, and Salt Lake City for future development.
“We’re confident consumers in these markets will love Togo’s. We are known for serving big, made-to-order sandwiches stuffed with the freshest ingredients since 1971,” Gioia says. “Our franchisees share a passion for creating the best sandwiches on the West Coast, and this dedication fuels a loyal customer base that spans the country, allowing us to flourish new cities where we currently do not have a presence.”
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 operating for a full 12 months in 2011 experienced average unit sales in excess of $600,000, with 25 percent over $800,000.
To become a part of the Togo’s team and be your own boss, 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.
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