Rank no. 307 – Togo’s Franchisor LLC – US
Products & Services: Specialty sandwiches, salads, soups, wraps, catering
Number of Locations: 243
Total Investment: $200.5K – 448.5K
Began Franchising: 1977
College student Mike Cobler was tired of eating cafeteria food. With a limited budget, he set up a small sandwich shop in 1971 to serve his fellow students at San Jose State University in Northern California. Soon, lines were forming out the door for Cobler’s sandwiches, and he opened another Togo’s.
The company began franchising in 1977, with shops serving sandwiches, salads, wraps and soups to customers on the West Coast.
Net Worth: $300,000
Liquid Cash Available: $150,000
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|
On the East Coast in the United States it is often combined with Dunkin’ Donuts‘ donut shops and Baskin-Robbins‘ ice cream shops (which were both owned by the same parent company from 1997 to 2007). Togo’s was sold off to a private equity firm in 2007. Most of Togo’s stores are franchises. Some Togo’s that were co-located with Dunkin’ Donuts were rebranded as Dunkin’ Deli, with the same menu as Togo’s.
The first “Togo’s" was opened in downtown San Jose, California, in 1967. At that time the sandwich shack was so small that only 4 people at a time could be inside and the sign out front read “Sandwiches To Go" with To Go being on the second line. In 1971 the shop was purchased by a college student. In 1997, Togo’s was acquired by the Dunkin’ Brands portfolio of fast-food restaurants. By 2001, there were approximately 350 Togo’s sandwich shops, serving more than 25 different types of sandwiches.
On November 30, 2007, Togo’s was acquired by Mainsail Partners, a San Francisco based private equity firm, in partnership with Tony Gioia, a former president of Baskin-Robbins. Tony Gioia is serving as chairman and chief executive officer of Togo’s Holdings, LLC.