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Noble Roman's is a company dedicated to providing and servicing quality pizza and sub foodservice systems to a variety of clients, including individual franchisees and operators in entertainment facilities, convenience stores, universities, and more. They also offer a deli-based take-n-bake pizza program in partnership with quality groceries. Their full-service pizzeria concept, Craft Pizza & Pub, is well-known for scratch-made crusts, hand-crafted pizzas, and craft beer and wine.
Noble Roman's reported a net loss of $872,964 for Q4 2022, with revenues of $3.329 million, compared to a net loss of $123,692 and revenues of $3.594 million in Q4 2021. For the year, the loss reached $1.056 million on revenues of $14.453 million, a decline from a profit of $509,465 and revenues of $13.885 million in 2021.
The company has opened 31 new non-traditional franchises in 2022 and continued growth in Q1 2023 with 11 new franchise sales. The Employee Retention Credit refund of $1.718 million is expected to enhance margins in 2023. Inflationary pressures and staffing issues remain concerns for business operations.
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