Togo’s Eateries Inc., a “West Coast Original” since 1971 serving up big, made-to-order sandwiches stuffed with the freshest ingredients, announced today it is targeting Portland, Oregon for franchise expansion.
As part of Togo’s 40-year anniversary, the nearly 250 unit sandwich franchise launched an aggressive growth strategy to enter new cities in key Western states such as Oregon, and is actively recruiting passionate single and multi-unit operators to help grow the brand to 400 restaurants by 2015.
To date, there are four Togo’s restaurants currently open in Oregon and four additional locations planned for Eugene and Springfield.
Togo’s executive team will be in Portland on Thursday, May 3rd from 1:00 p.m. to 3:00 p.m. at the DoubleTree Hotel, 1000 NE Multnomah Street, to host a complimentary Franchise Seminar and share the benefits of opening a restaurant franchise.
“Portland has been named ‘foodie heaven’, and after an unprecedented year of growth in 2012 and 20 plus months of positive same store sales, we are ready to bring our big, made to order sandwiches to the area,” says Tony Gioia, chairman and CEO of Togo’s Holdings.
“Our 2-to-1 sales-to-investment ratio makes Togo’s one of the best franchise opportunities in the sandwich category, and we are looking for passionate entrepreneurs to join our loyal team and help us grow regionally.”
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 remodels and 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.
“Togo’s is a great brand for Portland and surrounding cities because we offer the quality and value guests crave, along with the business opportunity entrepreneurs are looking for,” says Todd Peterson, vice president of franchise sales of Togo’s Holdings, LLC.
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 ingredientsand 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 net worth of $300,000 and a liquidity of $150,000 for a single restaurant.
Area developers looking to invest in three or more restaurants should have a net worth of $900,000 and a liquidity of $450,000. 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.
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. For more information on Togo’s Eateries Inc., in general please visit http://www.togos.com.