INDIANAPOLIS - Oct. 6, 2014 /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 all three of its growth venues.
During the third quarter ended September 30, 2014, the company signed license agreements with grocery chains for 225 new locations. 101 of those locations were opened during the quarter with the remainder scheduled to open during October. The company has developed a significant backlog of grocery store chains currently discussing the addition of Noble Roman's pizza program to their deli department. Interest in Noble Roman's take-n-bake offering has enabled the company to advance beyond selling to individual, independent grocery stores and the company is now actively and successfully marketing the offering to grocery store chains.
The non-traditional franchise/license venue continues with steady growth during the quarter ended September 30, 2014. The company signed agreements for 14 additional locations and opened 15 during the quarter.
In the company's newest growth venue, the stand-alone take-n-bake, seven additional franchise locations were sold during the quarter ended September 30, 2014 with one location being opened and several openings scheduled for October.
"Take-n-bake continues to be one of the fastest growing segments of the pizza industry," commented Paul Mobley, Chairman and CEO of Noble Roman's Inc. "Noble Roman's remains at the forefront of this trend, methodically increasing our presence with a stand-alone take-n-bake concept and rapidly increasing our presence in grocery stores around the country."
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 all 50 states plus Washington, D.C., Puerto Rico, the Bahamas, Italy, Canada and the Dominican Republic.
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, non-renewal of franchise agreements, shifts in market demand, general economic conditions, changes in purchases of or demand for the company's products, licenses or franchises, the success or failure of individual franchisees and licensees, changes in prices or supplies of food ingredients and labor, and the success or failure of its recently developed stand-alone take-n-bake operation. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may differ 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.
SOURCE Noble Roman's, Inc.
Franchise & Company Relations
Chairman & CEO