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Noble Roman's Signs 60-unit LA development deal
May 23, 2007
INDIANAPOLIS — Noble Roman's Inc. has signed a 60-unit area development agreement for its dual-branded concepts, Noble Roman's Pizza and Tuscano's Italian Style Subs.
The development territory is for all of Los Angeles County, Calif., except for the following cities: Los Angeles, Beverly Hills, West Hollywood, Santa Clarita, Lancaster and Palmdale, and includes a development schedule requiring 60 new franchise locations within the territory over the next seven years.
Area developers pay a development fee of 5 cents per capita in their development area, and receive 30 percent of the initial franchise fee and 2/7ths of the royalty from the locations developed pursuant to their agreements. Noble Roman's Inc. retains all training and supervision responsibilities, and must approve all franchisees and all locations.
During the last few months the company has announced the signing of twelve other area development agreements for its traditional, dual-branded concept. With the signing of this new agreement, the thirteen area development agreements in place thus far call for 489 units over the next five to seven years.
In addition, so far this year the company has entered into 72 dual-branded franchise agreements for traditional locations, 32 of which were sold through area developers.
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