INDIANAPOLIS, May 28 /PRNewswire-FirstCall/ -- Indianapolis based Noble
Roman's, Inc. (OTC Bulletin Board: NROM) today announced the signing of
another Area Development Agreement for 46 units, along with receipt of the
development fees, for its dual-branded concepts, Noble Roman's Pizza and
Tuscano's Italian Style Subs. This newest development territory is for 20
counties surrounding Columbus, Ohio, and includes a development schedule
requiring 46 new franchise locations within the territory over the next six
Area developers pay a development fee of $.05 per capita in their
development area, and receive 30% of the initial franchise fee and 2/7ths
of the royalty from the locations developed pursuant to their agreements.
Noble Roman's, Inc. retains all training and supervision responsibilities,
and must approve all franchisees and all locations. In order to maintain
the right to develop their territory, each area developer has to meet the
minimum development schedule as stipulated in their Area Development
Agreement. The territory covered by this development schedule has a
population of approximately 2.1 million people.
The company has franchises in 45 states from coast-to-coast within the
United States. In addition, it has sold franchise agreements for US
military bases overseas, and for entertainment facilities in Canada. In
past years the company's growth strategy was to expand primarily through
franchising in non-traditional locations. The company is continuing its
growth by franchising non-traditional locations and, in addition, it is
also part of the company's strategy to sell dual-branded franchise
agreements for traditional locations through both the internal efforts of
the company and its area developers.
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:
competitive factors and pricing pressures, shifts in market demand, the
ability to successfully operate certain franchises on a temporary basis and
to re-franchise them, 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, the
success or failure of area developers who may or may not maintain their
minimum development schedule, and the impact of competitors' actions.
Should one or more of these risks or uncertainties adversely affect the
company or should underlying assumptions or estimates prove incorrect,
actual results may vary materially from those described herein as
anticipated, believed, estimated, expected or intended.
SOURCE Noble Roman's, Inc.