Noble Romans, Inc.
Under the Symbol:
Noble Roman's Craft Pizza & Pub Franchise Location Sets More Sales Records; Noble Roman's Completes 12th Non-Traditional Unit Opening for 2019
Thursday, May 9, 2019 1:20 PM
INDIANAPOLIS, IN / ACCESSWIRE / May 9, 2019 / Noble Roman's, Inc. (OTCQB: NROM), the Indianapolis based franchisor and operator of Noble Roman's Craft Pizza & Pub and Noble Roman's Pizza locations, announced today that the latest Craft Pizza & Pub restaurant set new sales records for both single day and full week. After opening May 2nd, the first seven days of operation saw sales exceed $55k with the single day record set on Saturday, May 4th. Located in Lafayette, Indiana, the fifth and latest Craft Pizza & Pub is also the company's first franchised location. The restaurant is owned and operated by Patrick and Holly O'Neil, Dairy Queen's largest franchisee in the state of Indiana. The O'Neil's are experienced multi-unit foodservice operators and well-qualified to be the initial franchise ambassadors for Noble Roman's Craft Pizza & Pub.
Additionally, Noble Roman's announced today that it has just completed the opening of its twelfth franchised non-traditional location so far this year. Located in Machesney Park, Illinois (a suburb of Rockford, IL northwest of Chicago), it is the seventh Noble Roman's Pizza location to be owned and operated by the Kelley Williamson Company. Established in 1926, the Kelley Williamson Company is consistently recognized as a top convenience store chain in all categories, including service, cleanliness and quality. In addition to the seven Noble Roman's Pizza locations the Kelley Williamson Company currently operates, they are preparing an eighth Noble Roman's location, which is expected to open within the next 30 days.
According to Scott Mobley, President and CEO of Noble Roman's, "Growth in our non-traditional venue has been a priority in 2019. The number of franchise agreements the company has signed so far this year is well ahead of last year. In addition to the twelve units we have opened so far in 2019, we have a significant number of additional locations for which we have signed franchise agreements that are yet to open." Mobley went on to say that the openings so far this year have average volumes in excess of the previously opened non-traditional units. Said Mobley, "Troy Branson, the company's Executive Vice President, is spearheading the efforts in the non-traditional venue. Not only are we focusing on unit growth, we have implemented initiatives designed to generate higher volumes in each new unit." According to Mobley, the franchised, royalty-generating units opened in convenience stores thus far in 2019 are averaging slightly over 60% higher volumes than units opened in previous years. Mobley attributes the increase to improvements in several categories, including trade dress inside the locations, the project management process for new openings and other additional operational and managerial enhancements.
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, including the new Noble Roman's Craft Pizza & Pub format, the company's ability to successfully operate an increased number of company-owned restaurants, 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. 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.
FOR ADDITIONAL INFORMATION, CONTACT:
Media Information - Scott Mobley, President & CEO: [email protected]
Investor Relations - Paul Mobley, Executive Chairman: [email protected]
SOURCE: Noble Roman's, Inc.