Noble ChickenFranchise Cost, Revenue & Review 2026
Data from FDD filing
FranchiseVerdict summary · 2026
A Noble Chicken franchise requires a total initial investment of $432K – $725K, including a $35K franchise fee and an ongoing 5.5% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $432K – $725K
- 29th pct Service Resta…
- Avg gross sales
- N/A
- 28th pct Service Resta…
- Royalty
- 5.5%
- 24th pct Service Resta…
- Units
- 0
- 0th pct Service Resta…
- SBA default
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = >15% above Full-Service Restaurants avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Started franchising in 2024. Newer systems carry more uncertainty but may offer better territories.
Bottom line
- Total investment $432K – $725K including a $35K franchise fee, 5.5% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict A (Top Quintile) with a risk score of 50/100.
- No Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Buffalo Wings & Rings, LLC
- Incorporated in
- OH
- HQ
- 396 Wards Corner Road, Loveland, OH 45140
- Auditor
- GBQ Partners LLC
- Audited financials
- Franchisor revenue
- $18.7M
- vs $19.9M prior year
Overview
About
Noble Chicken franchisees operate fast-casual or QSR chicken concepts, likely focused on prepared chicken entrees and related sides. Day-to-day operations include food preparation, inventory management, staff scheduling, customer service, and point-of-sale management within a protected territory.
- CEO
- Nader Masadeh
- Headquarters
- OH
- Founded
- 2005
- FDD year
- 2025
- States available
- 0
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $25K | $45K |
| Equipment, build-out, other | $372K | $645K |
| Total initial investment | $432K | $725K |
Source: Noble Chicken 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $432K – $725K
- Better than avg vs category
- Liquid capital req'd
- $25K – $45K
- Better than avg vs category
- Franchise fee
- $35K
- Better than avg vs category
- Royalty
- 5.5%
- percentage · typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 8.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.5% of gross sales |
| Marketing / ad fund | 3.0% of gross sales |
| Transfer fee | $5K |
| Renewal fee | $5K |
| Total fee load | 8.5% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Full-Service Restaurants averages
How Noble Chicken Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 0
- Opened
- 0
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Company-owned
- 0
- Corporate units in the system
- Multi-unit owners
- 12.1%
3-year detail · Item 20
- Transfers (3yr)
- 0
- Projected new
- 1
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 8 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Pre-revenue franchise with zero operating units, active CEO litigation alleging fraud, and undisclosed financials—extreme risk unsuitable for most investors.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · GBQ Partners LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: No
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 50 / 100 rating
- 01MINORZero operating units with unknown growth trajectory—no proven franchise system or track record
- 02HIGHGoing Concern status is FALSE, indicating potential financial instability or viability questions at corporate level
- 03HIGHActive litigation involving President/CEO (Masadeh) with allegations of fraudulent inducement and breach of fiduciary duty—directly relevant to franchisee protection
- 04MEDNo Item 19 financial performance disclosure (Avg Revenue and Net Income not disclosed)—impossible to validate ROI or unit economics
- 05MEDHigh initial investment ($432K-$725K) paired with 5.5% royalty on undisclosed revenue creates profitability uncertainty
- 06HIGHLitigation involves operational/distribution disputes that could foreshadow franchisee-franchisor conflict
- 07MINORBrand is pre-launch or extremely early-stage with no franchisee reference pool to validate claims
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius |
| Protected territory | Yes |
| Territory population | 25 |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Ohio |
| Litigation count | 1 |
Items 10, 11
Training & Operations
- Classroom training
- 17 hrs
- On-the-job training
- 128 hrs
- Training location
- Corporate Training Center or Certified Training Restaurant and Franchise Location
- Ongoing training
- Required
- Field support
- 191 hrs/yr
- On-site visits per year
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
8 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Noble Chicken · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Noble Chicken franchise?
The total investment to open a Noble Chicken franchise ranges from $432K – $725K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Noble Chicken franchise owners earn?
Noble Chicken does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Noble Chicken's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Noble Chicken (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
Is Noble Chicken a good franchise to buy?
FranchiseVerdict rates Noble Chicken as a A-grade franchise with a risk score of 50 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.