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Noble Roman's Signs 15 Unit Area Development Agreement for Six Counties Surrounding Chico-Redding, California |
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Indianapolis based Noble Roman's, Inc. (BULLETIN BOARD: NROM) today announced the signing of another Area Development Agreement for 15 units, along with receipt of the development fees, for its dual-branded concepts, Noble Roman's Pizza and Tuscano's Italian Style Subs. |
This newest development territory is for the counties of Butte, Glenn, Modoc, Shasta, Tehama and Trinity, all surrounding Chico and Redding, California, and includes a development schedule requiring 15 new franchise locations within the territory over the next three years.
Area Developers pay a development fee of $.05 per capita in their development area, and receive 30% 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. In order to maintain the right to develop the territories, each Area Developer has to meet the minimum development schedule as stipulated in their Area Development Agreement. The territory covered by this development schedule has a population of approximately 470 thousand people.
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