This is a great question because I embrace opportunities to reduce redundancies and creating titles can be a very redundant task!
Once you create your title exactly as you like, click on the Save Style Parameter menu (the down arrow to the right of the Styles button on the Title Tool toolbar), and then select Save As. The Title Style Sheet will open and you can name the title template and click done. Whenever you need to use that template again, highlight your text in the title tool and choose the saved style from the Save Style Parameter menu.
Additionally, before closing the Title Style Sheet, you can put a number in the function key field and when you want to use that saved style in the future, you can press that associated Function key in lieu of the Save Style Parameter menu.