Noble Roman's Reports Continued Progress with Take-N-Bake Franchise Concept
Eight Take-N-Bake Units Currently Under Development, Will Bring to 11 Total to Date Grocery Store TNB Concept Reaches 1,445 Stores
INDIANAPOLIS - Feb. 14, 2013 // PRNewswire // - Noble Roman's, Inc. (OTC BB: NROM), the Indianapolis based franchisor of Noble Roman's Pizza and Tuscano's Italian Style Subs, today provided an update on the continued expansion of its popular take-n-bake (TNB) concept, both in grocery stores around the country and with the stand-alone TNB franchise concept.
To date, the Company has signed two new franchise agreements in the last three weeks, bringing the total number of TNB units open or in development to 11. Eight units are currently under development or construction, expected to open during the first half of 2013.
In addition, in the first six weeks of 2013, Noble Roman's has continued to expand the number of grocery stores offering Noble Roman's Take-n-Bake pizza. To date, 1,445 stores offer this convenient and popular offering. The Company has been steadily expanding its grocery network, and interest from grocery chains is growing. Management attends grocery trade shows to create awareness within the industry, including the National Grocers Association trade show in Las Vegas this week.
"Take-n-bake is the fastest growing segment of the pizza industry," commented Paul Mobley , Chairman and CEO, Noble Roman's Inc. "And Noble Roman's is at the forefront of this trend, methodically increasing our presence in grocery stores around the country and growing our stand-alone TNB franchises. We continue to grow our pipeline of franchise prospects for the stand-alone take-n-bake concept, and expect to have several others under development by mid-year. We are approaching 1,500 grocery stores carrying our TNB product, and expect to add to our grocery network steadily in the coming quarters. With our recognized brand and our reputation for great taste and high quality, we are poised to grow our revenues and profitability due to the popularity of the TNB concept."
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 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 much less labor and other operating costs, such as utilities, making it simpler and more affordable to operate, contributing to a compelling franchise opportunity for potential franchisees.
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," and "Tuscano's Italian Style 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, the second unit opened on December 3, 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.
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SOURCE Noble Roman's, Inc.