Noble Roman’s Named ‘Preferred Supplier’ for Circle K® Franchise System
Signs Franchise Agreements for 3 Additional Walmart® Locations; Adds & Stocks 2 New Grocery Distributors.
October 04, 2016 // Franchising.com // Indianapolis, Indiana - Noble Roman's, Inc. (OTCQB: NROM), the Indianapolis based franchisor and licensor of Noble Roman’s Pizza, today announced that it had signed an agreement with TMC Franchise Corporation ("TMC") to become a Preferred Supplier for their system of franchised Circle K®, Kangaroo Express® and On the Run® convenience store brands in the United States, which today totals approximately 800 locations. TMC is part of the Alimentation Couche-Tard, Inc. group, one of the largest operators and franchisors of convenience stores in North America. Pursuant to the agreement, TMC will communicate Noble Roman’s preferred status for pizza-focused foodservice to its existing franchisees as well as to all new franchise prospects. Noble Roman’s will conduct presentations and demonstrations for TMC franchisees at special meetings to be held during the October 2016 convention of the National Association of Convenience Stores ("NACS") in Atlanta, where Noble Roman’s will be exhibiting for all NACS attendees.
Noble Roman’s also announced that it had signed three more franchise agreements for non-traditional units to be located in Walmarts, and expects to sign an additional three agreements later this year through the same master franchisee. The first non-traditional Noble Roman’s location inside a Walmart opened earlier this year in Myrtle Beach. According to Scott Mobley, president of Noble Roman’s, “We are enthused about the longterm opportunity for growth Walmart locations might represent for the company. Interior construction at the Walmart locations permitting, we anticipate all three of the new units recently signed to potentially be opened and operating yet this year, with the others on the slate for the first quarter of 2017. We believe there are other opportunities for partnered growth within this segment as well.”
In total, the company has signed twenty-one new non-traditional franchise/license agreements in the first three quartaers of 2016, compared to twelve during the same period in 2015. Sixteen non-traditional franchised/licensed locations have been opened thus far in 2016, compared to eight new non-traditional locations opened during the same period in 2015.
Noble Roman’s also announced that it had signed agreements with two new grocery distributors to carry the ingredients for its deli take-n-bake pizza program. One of the distributors was stocked with products the last week of September; the other distributor has issued purchase orders to be stocked this week. Said Mobley, “Our team headed by Troy Branson, Executive Vice President, has done an excellent job pre-selling a number of groceries within each of the two new distributors, so we are able to get those programs up and running relatively quickly after they stock. We will continue to aggressively pursue additional grocers for our program within their two systems as well as others.” In total, the company has signed agreements for approximately 400 new grocery locations so far in 2016, and approximately 210 locations have been trained and opened.
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 now “Noble Roman’s Craft Pizza & Pub.” 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, the success of new franchise programs with limited operating history including the stand-alone pizzeria and take-n-bake locations, 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 dependence on continued involvement of current management and the performance of the sales staff and franchise broker. 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
President & CEO
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