SOURCE: Noble Roman's, Inc.
INDIANAPOLIS, IN--(Marketwire - Jul 23, 2012) - Noble Roman's, Inc. (OTCBB: NROM), the Indianapolis based franchisor of Noble Roman's Pizza and Tuscano's Italian Style Subs, today announced that it signed an agreement for a new, stand-alone take-n-bake prototype.
The agreement was concluded on July 19, 2012 with an existing, independent Noble Roman's franchisee and calls for three units initially in the Plainfield, Brownsburg and Avon markets in central Indiana, which are all adjacent to Indianapolis on the west side. Site location work has already begun for the first unit, which could open in the third quarter, 2012.
The Noble Roman's Take-n-Bake concept will feature the chain's popular hand-tossed style pizza, Sicilian pizza and 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.
According to officials at Noble Roman's, 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 1,250 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 will require only 900 to 1,200 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.
Noble Roman's says it has no intention of deviating from its current plans and focus to grow its 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. So far this year, the company has signed 254 additional licensing agreements for grocery stores, and 25 additional agreements for non-traditional franchises.
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.