Noble Roman’s Inc. reported $321,431 in net profit in the first quarter, less than half the $703,003 it earned a year earlier.
The Indianapolis restaurant chain said the decline was caused by slowing growth in co-brand franchises.
Under an initiative announced in November, Noble Roman’s is screening potential franchisees more carefully, training new franchisees longer, involving franchisees more directly in construction and marketing, and tracking their performance more closely.
Noble Roman’s pointed out that royalties and fees from existing franchisees climbed to $1.7 million from $1.5 million in the same period last year.
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