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Restaurant Industry News |
Tuesday December 2nd, 2008 |
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Noble Roman's Signs 40 Unit Area Development Agreement for Santa Clara County, California |
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Indianapolis based Noble Roman's, Inc. (BULLETIN BOARD: NROM) today announced the signing of another Area Development Agreement for 40 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 county of Santa Clara in California, and includes a development schedule requiring 40 new franchise locations within the territory over the next six 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 1.7 million people.
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