Noble Roman's

Noble Roman's is an American pizza company based in Indianapolis, Indiana.[2]

Noble Roman's, Inc.
TypePublic
OTCQB: NROM
IndustryFood
Founded1972 (1972) in Bloomington, Indiana
FoundersStephen Huse and Gary Knackstedt
HeadquartersIndianapolis, Indiana
Number of locations
Between 3 and 20
Area served
United States
Key people
Paul W. Mobley, Chairman of the Board and Chief Financial Officer [1]
Scott Mobley, President and CEO
ProductsPizza, salads, subs
Revenue$ 7.8 million (2016)[1]
Websitewww.nobleromans.com

History

Noble Roman's was founded in Bloomington, Indiana, when Stephen Huse and Gary Knackstedt acquired a failed pizza shop near the campus of Indiana University in 1969.[3] The company incorporated in 1972,[4] with the first franchise following in 1973.[3]

In the 1980s and 1990s, Noble Roman's expanded heavily outside of Indiana, opening new locations in Ohio, and other states; and issuing a IPO in 1982. In 1996, Noble Roman's attempted to purchase Papa Gino's, which was in the process of acquiring D'Angelo's Grilled Sandwiches chain from PepsiCo's Pizza Hut division (Noble Roman's notable competitor). But in the next year, the deal fell through, and eventually it was delisted from NASDAQ after it fell to a $1 per share.[5]

During the 2000s and 2010s, the company became embroiled in multiple lawsuits with its franchisees.[6][7] Franchisees have described the company as "distinguished...by its high franchisee failure rates, and its insistence on suing franchise owners once they fail." Other franchisees allege that the company "has used litigation as a revenue source," and as of 2009, was "involved with litigation with every one of their franchisees."[8]

During the 2010s, Noble Roman's started to move away from selling pizzas in the traditional sit down and delivery restaurants to focus in selling reheat-and-serve products in supermarkets,[9] and later, hot products for eating inside supermarket cafes[10] such as at Marsh Supermarkets.[11][12]

In November 2014, Scott Mobley replaced his father, Paul Mobley, as president and CEO while the elder remained chairman.[13] During this time, Noble Roman's supplied pizza to 800 "nontraditional locations" such as "convenience stores, military bases, and bowling alleys," and manufactured pizzas carried by 2,000 supermarkets.[10] As of August 2016, the number of dedicated Noble Roman's restaurants is approximately 16, though their pre-made branded products are offered widely in convenience stores and grocery stores.

In the 3rd quarterly earnings report that came out in November 2016, the company had announced its decision to “discontinue expansion of its stand-alone take-n-bake concept, so that management’s efforts could be fully focused on the modernized Craft Pizza & Pub.”

Restaurants
  • Craft Pizza & Pub (6 locations)
  • Noble Roman's Pizza
  • Noble Roman's Take-N-Bake
  • Tuscano's Italian Style Subs

See also

References
  1. Noble Roman's Form 10-K (Report). U.S. Securities and Exchange Commission. December 31, 2016.
  2. Noble Roman's, Inc. - Company Profile Snapshot
  3. Waldman, Joseph M. (June 1978). "Making It Big in the Fast-Food Industry". Business Horizons. Elsevier. 21 (3): 65–72. doi:10.1016/0007-6813(78)90093-9.
  4. "Noble Roman's Company Profile". Reuters. Retrieved 2018-08-28.
  5. Murphy, Tom (August 7, 2006). "Noble Roman's seeking a return to glory". Indianapolis Business Journal. Retrieved 2020-08-08.
  6. "Noble Roman's granted favorable judgment in long-running lawsuit". Pizza Marketplace. December 29, 2010.
  7. "Pizza Franchisor Gets Burnt". Lewitt Hackman law firm.
  8. "NOBLE ROMAN'S (NROM) Franchise Complaints". Unhappy Franchisee. August 24, 2014.
  9. Schouten, Cory (March 12, 2011). "Noble Roman's expands grocery offerings to boost bottom line". Indianapolis Business Journal.
  10. Andrews, Greg (January 30, 2016). "Believers in Noble Roman's see groceries as super market". Indianapolis Business Journal.
  11. "Marsh Supermarkets". Food and Drink Magazine. April 25, 2016. Archived from the original on February 2, 2017. Retrieved January 26, 2017.
  12. Sikich, Chris (May 12, 2014). "Marsh to open 1st new Downtown Indianapolis grocery in 30 years". Indianapolis Star.
  13. "Management Structure; Continues Current Strategy Unaltered". PR Newswire (Press release). November 20, 2014.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.