Executive Vice President, The Todoroff Group, LLC
Owner and Member, The Todoroff Group, LLC
Richard Todoroff is a co–founder of The Todoroff Group, LLC. In his position, he provides advisory assistance to the President.
Richard attended the University of Michigan from 1951 to 1953. He enlisted in the United States Air Force in 1953, and gained entrance into the Air Force Aviation Cadet program in 1954. He received a commission as a Second Lieutenant in the United States Air Force, and his Navigator wings in 1955 with an assignment to fly the C–124 at Castle Air Force Base, California. Subsequently, he received a C–124 assignment to Pine Castle Air Force Base, Florida. In his capacity as a Strategic Air Command aircraft navigator, he was responsible for worldwide aircraft and aircrew deployment activities. As a nuclear weapons courier he was responsible to the Commander–In–Chief Strategic Air Command for safe transport, security, and accountability of strategic national assets. He resigned his commission in 1958.
Richard became a partner and co–owner of the Loomis Park Grill (later Todoroff's Restaurant) with his father Tom in 1958, representing the third generation of family ownership. He built and deployed a new restaurant facility within twelve months. He increased sales over 100% within one year and maintained 5% sales growth for 6 consecutive years.
In 1964, while still operating his restaurant, Richard founded Precision Form Grinding, a manufacturer of precision tools for tool & die and manufacturing companies. He launched this startup company, organized the infrastructure, and attained full operation within four months. His new company attained sales of $240,000 within the first year of operation. He sold his interest in Precision Form Grinding to his two partners in 1966.
Shortly after his father retired, Richard sold his partnership in Todoroff's Restaurant and launched Todoroff's Original Coney Island restaurant in late 1967. This small limited seating restaurant offered the Coney Island hot dog as its theme. Richard relocated the restaurant's operations to a different location within Jackson as a full service, family restaurant while maintaining the Coney Island hot dog theme. During this third generation of independent family ownership he consistently increased the company's annual earnings. He maintained a profitable posture during the economic recession of 1984–1986. He captured and maintained the major market share of Coney Islands in Jackson County from 1974–2001. He maintained the largest sales of Coney Islands in Mid–Michigan. He and his wife, Marie Todoroff, owned and operated this highly successful and profitable restaurant for 32 years. Richard retired on August 31, 2002 after 44 highly successful years in the restaurant business.
Richard served as the Chairman of the Greater Jackson Chamber of Commerce from 1990 to 1991. During his tenure he increased membership by 15%. He acquired a healthcare plan for contributing members and businesses, which subsequently increased membership by 300%.
Richard currently is the Executive Vice President of The Todoroff Group, LLC as well as the Chairman of Todoroff Foods Incorporated. In these roles, he assists his son Kurt in an advisory capacity in both companies.
Richard was raised in the family restaurant business, first working with his father Tom and also with his grandfather George. He is a past member of the JayCees and the Optimist Club. He was a Summit Township Trustee for one term, and was a member of the Jackson County Region Two Planning Commission. He is a past Chairman of the Greater Jackson Chamber Of Commerce. Richard is married to the former Marie Economou of Detroit, Michigan with whom he has three children, Kurt, Kimberly (Mike), and Keith (Michelle). They have seven grandchildren, Erik, Megan, Emily, Elaine, Lane, Hailey, and Graham.
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