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Togo’s Announces Two Exciting New Incentive Programs
The new offerings include a Development Incentive Program for first-time franchisees joining the team and a Seasoned Operator Incentive Program for established franchisees of other restaurant or retail concepts looking to expand their portfolio with a winning brand.
Qualified new franchisees who are part of the Development Incentive Program will pay a 50% reduced initial franchise fee of $15,000 for their first location, and $7,500 for each additional location, as well as benefit from a 50% reduction in royalties for the first 24 months of operation for each new restaurant they open under a multi-unit agreement. In order to receive the benefits under the Development Incentive Program, franchisees must sign a lease for their first Togo’s location no later than March 31, 2021. At this time, the Development Incentive Program is only offered with respect to the first 10 franchise agreements that are executed with qualified candidates by December 31, 2020, so act fast!
THE SEASONED OPERATOR
To support experienced entrepreneurs who are looking to expand their portfolios, we are also offering an enhanced incentive program to a limited number of qualified seasoned operators of other franchise concepts. For those who qualify and enter into a multi-unit agreement with Togo’s for the development of at least three restaurants, they will pay a 50% reduced initial franchise fee of $15,000 for the first franchise agreement and $7,500 for each additional agreement. Additionally, they will receive reduced royalties for the first four years of operation for each restaurant opened under the agreement. The royalties under this incentive start at 1% for the first 12 months and increase by 1% every 12 months until reaching the standard fee structure of 5% in year five. In order to receive the benefits under the Seasoned Operator Incentive Program, franchisees must sign a lease for their first Togo’s location no later than March 31, 2021.
In order to participate in the Seasoned Operator Incentive Program, franchisees must have held a controlling ownership interest in multiple franchised restaurants, retail or service businesses for at least five years within the last 10-year-period. The franchisee must also have a proven track record of the successful development and operation of multiple franchised businesses. At this time, the Seasoned Operator Incentive Program is only offered with respect to the first two multi-unit agreements executed with qualified candidates by December 31, 2020.
As the brand continues its transformation with the integration of a Speedline kitchen, self-ordering kiosk technology and fresh menu offerings, Togo’s recognizes that unparalleled franchise support is an essential aspect of successful innovation in 2020. By being a resource for its franchise system,
Togo’s will continue to remain far above the competition for years to come.