|By PR Newswire||
|August 4, 2014 12:15 PM EDT||
SAN JOSE, Calif., Aug. 4, 2014 /PRNewswire/ -- Togo's Eateries, Inc., a "West Coast Original" since 1971, announced today it has signed development agreements with new and existing franchisees to expand its footprint in several California markets, including Woodland, Jackson and the Central Valley and East Bay areas. Togo's currently has 240 restaurants across the state.
Ranjeet Singh and Gurdev Teer, a current franchise group with one location, will develop five restaurants in the Central Valley and East Bay areas, with the first location slated to open in early 2015 in the Central Valley. One restaurant will be developed in Woodland by Jon Turovitz, an existing franchisee with two locations, while first-time franchisees Trent and Ashley Millsap plan to develop their first restaurant in Jackson. Both restaurants are slated to open in early 2015.
"These latest agreements underscore the strength of our business model and overall growth strategy as Togo's continues to build its footprint throughout the West," said Tony Gioia, chairman and CEO of Togo's Holdings, LLC. "Since the opening of the first Togo's restaurant in San Jose more than 40 years ago, we've built our reputation on serving big, fresh, meaty sandwiches made with the freshest ingredients to residents across the Golden State. We know that there is still great potential for additional growth throughout California."
Since the start of the year, Togo's has signed franchise agreements to develop 13 restaurants in Eastern Idaho and throughout California. Additionally, the brand has opened 10 restaurants and is on track to open 12 others throughout the rest of the year in Petaluma, Calif., Colorado Springs, Colo., and Rexburg, Idaho, among others.
Togo's, which has more than 320 locations open and under development throughout the West, has experienced four consecutive years of same-store sales increases. Last year, the company launched a multi-unit franchise development incentive program to drive expansion in key growth markets. Both new and existing franchisees who sign a new agreement for three or more locations will receive reduced royalty fees for the first two years for each new restaurant that is developed in Washington, Oregon, Idaho, Utah, Colorado, Nevada and Arizona. Additionally, franchisees will benefit from $10 million for remodels and transfers, as well as $5 million to build new restaurants.
At Togo's, traditional restaurants experienced average unit sales in excess of $659,000, with 20 percent averaging over $836,000. 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.
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, fresh and meaty. Keeping in the spirit of the original, Togo's products are still made with only the highest quality ingredients; including fresh-baked Artisan breads, hand sliced premium pastrami, turkey and roast beef, as well as California avocados and cheeses. Togo's proprietary brand of old-fashioned Pastrami, 98 percent fat-free slow-roasted turkey, and Togo's homemade chicken and tuna salad set the brand apart from other sandwich shops. With more than 325 locations open and under development throughout the West, Togo's is a franchise-based business that offers online ordering and catering services. For more information call 1.877.718.6467 or visit http://www.togosfranchise.com. For general information on Togo's Eateries, Inc., please visit http://www.togos.com.
**Photos and company logo available upon request.
SOURCE Togo's Eateries, Inc.
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