Bottom line
- Total investment $32K – $228K including a $8K franchise fee.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 65/100. SBA loan default rate of 0.0% across 2 loans (below the industry average).
- 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
Yale framework · single-unit ROIC
Returns Analysis
Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.
The model · Yale framework
What would one Noble Roman’s Pizza unit return on the cash you put in?
Unlevered ROIC · per unit
66%
Above typical band (30–60%)
Overview
About
Noble Roman's franchisees operate pizza restaurants or kiosks, managing food preparation, customer service, delivery/carryout operations, and point-of-sale systems. Operators handle staffing, inventory management, and local marketing while adhering to brand standards and paying weekly royalties regardless of sales performance.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 43 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 phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.
Government records
SBA Loan Data
Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Noble Roman's presents moderate-to-high risk due to declining unit count, absence of earnings disclosure, unprotected territory, and high fixed royalties that burden marginal operators.
Score breakdown · what drove the 65 / 100 rating
- 01MINORDeclining unit count (2,872 units, -1.8% YoY) suggests system contraction and potential market saturation or franchisee satisfaction issues
- 02MEDNo average revenue or net income disclosed (no Item 19) prevents validation of earnings claims and ROI projections
- 03MINORUnprotected territory creates direct competition risk — multiple franchisees can operate in same area, cannibalizing sales
- 04MINORHigh royalty floor ($175/week minimum = $9,100 annually) creates fixed cost burden even during low-sales periods
- 05MINORWide investment range ($32.1K–$227.7K) suggests highly variable unit economics; unclear what drives 7x difference
- 06MINORLow franchise fee ($7,500) relative to investment range signals potential for understated total startup costs or hidden fees
- 07MEDStagnant small unit base (2,872) with negative growth indicates limited brand momentum and scaling challenges
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
Item 20
Franchisee Contacts
Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.
Franchisee contacts
45 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Noble Roman’s Pizza · FDD (2024) PDF