Noble Roman's Announces the Opening of First Stand-Alone Take-N-Bake Franchise Six More Take-N-Bake Units Currently Under Development
INDIANAPOLIS, Nov. 1, 2012 /PRNewswire/ -- Noble Roman's, Inc. (OTC BB: NROM), the Indianapolis based franchisor of Noble Roman's Pizza and Tuscano's Italian Style Subs, today announced that a franchisee has opened its first Noble Roman's stand-alone take-n-bake franchise leveraging the Noble Roman brand, reputation for taste and quality, and the rapidly growing trend supporting the take-n-bake concept.
As previously announced, the company has signed agreements thus far for seven stand-alone take-n-bake units all to be located in suburbs surrounding Indianapolis. The first seven franchises were all sold to existing Noble Roman's franchisees. Two of the existing franchisees signed agreements for three units each and one existing franchisee signed for a single unit. The initial stand-alone take-n-bake franchise, is located at 586 S. State Road 135 in Greenwood, Ind., a southern suburb of Indianapolis. The six additional units are currently under development.
"The opening of the first Noble Roman's prototype take-n-bake store is a major milestone in our growth strategy and strategically positions us in this fast growing market," said Paul Mobley, Chairman and CEO, Noble Roman's Inc. "Take-n-bake is currently the fastest growing segment of the pizza industry and we expect to deliver the same high-quality, great tasting pizza to the consumer who favors this concept to control their pizza eating experience. It also leverages our success in our non-traditional venues such as grocery delis, convenience stores and travel plazas, bowling and entertainment centers, and others. Consumers around the country recognize that Noble Roman's means great-tasting pizza and unrivaled value. By expanding the take-n-bake concept, we can extend that reputation and provide tremendous convenience for consumers on-the-go. We look forward to expanding the take-n-bake concept to reach more of the pizza-loving consumer in the future."
The Noble Roman's Take-n-Bake concept features the chain's popular traditional Hand-Tossed Style pizza, Deep-Dish Sicilian pizza, the SuperThin pizza, and Noble Roman's famous breadsticks with spicy cheese sauce, all in a convenient cook-at-home format. Additional menu items will include such items as fresh salads, cookie dough, cinnamon rounds, bake-able pasta, cheesy sticks and more.
The Company's new take-n-bake pizza design grew out of the rising popularity of take-n-bake generally, the company's success in licensing over 1,350 groceries nationwide to carry Noble Roman's take-n-bake pizza, and the company's existing reputation for fun, great tasting pizza. The Noble Roman's stand-alone take-n-bake unit requires only 900 square feet with a minimal amount of equipment and build-out relative to a regular quick-service restaurant, resulting in a much lower investment cost. Additionally, the Company anticipates that the take-n-bake unit will require less labor and other operating costs, such as utilities, making it simpler and more affordable to operate, contributing to a compelling franchise opportunity.
"We remain focused on our strategy, which involves growing our existing base of grocery take-n-bake locations as well as its other non-traditional franchise locations in such venues as convenience stores, travel plazas, entertainment facilities, attractions and other locations conducive to foodservice," Mr. Mobley added.
About Noble Roman's
Noble Roman's, Inc. sells and services franchises and licenses for non-traditional foodservice operations under the trade names "Noble Roman's Pizza," "Noble Roman's Take-N-Bake," "Tuscano's Italian Style Subs," and "Tuscano's Grab-N-Go Subs." The Company has awarded franchise and/or license agreements in 49 states plus Washington, D.C., Puerto Rico, the Bahamas, Italy and Canada. The Company has recently developed a stand-alone take-n-bake pizza prototype, with the first unit opened on October 29, 2012 and six additional franchises under development.
The statements contained in this press release concerning the company's future revenues, profitability, financial resources, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company's management. The company's actual results in the future may differ materially from those projected in the forward-looking statements due to risks and uncertainties that exist in the company's operations and business environment, including, but not limited to, market acceptance of recently introduced products, competitive factors and pricing pressures, the current litigation with certain former traditional franchisees, non-renewal of franchise agreements, shifts in market demand, compliance with the terms of the company's bank credit agreement, general economic conditions and other factors including, but not limited to, changes in demand for the company's products or franchises, the success or failure of individual franchisees and changes in prices or supplies of food ingredients and labor as well. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. The company undertakes no obligations to update the information in this press release for subsequent events.
FOR ADDITIONAL INFORMATION, CONTACT:
For media information: Scott Mobley, President 317/634-3377
For investor relations: Paul Mobley, Chairman & CEO 317/634-3377
or, Brett Maas, Hayden IR 646/536-7331 or firstname.lastname@example.org
SOURCE Noble Roman's, Inc.