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FDD Talk 2013: Average Net Sales and Operating Profits for Noodles & Company Restaurants (2013 FDD)

by Franchise Chatter on June 23, 2013

in Fast Casual Restaurant Franchise, Franchise Earnings



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Highlights of Noodles & Company’s Item 19 Financial Performance Representations (2013 FDD)

Explanatory Notes for Table 1 – Statement of and Information Regarding Average Net Sales of Noodles & Company Restaurants for the 52-Week Period Ended January 1, 2013

  • As of January 1, 2013, Noodles & Company operated 276 company-owned Restaurants and there were 51 franchise-owned Restaurants, for a total of 327 Restaurants.
  • However, the Statement of Average Net Sales consists of the mean average of the reported Net Sales for those Restaurants open for the entire preceding 52-week period. This includes 237 company-owned Restaurants and 45 franchise-owned Restaurants, or 282 in total.
  • The financial performance representation figure does not reflect the costs of sales, operating expenses, or other costs or expenses, that must be deducted from the gross revenue or gross sales figures to obtain your net income or profit.

Explanatory Notes for Table 2 – Statement of and Information Regarding Average Net Contribution to Gross Profit and Restaurant EBITDA of Company-Owned Restaurants for the 52-Week Period Ended January 1, 2013

  • This Statement consists of the averages of 237 company-owned Restaurants open during the entire 52-week period ended January 1, 2013. This Statement does not include Royalties, which the franchisee would have to pay the franchisor, interest on any financing, income taxes, depreciation or amortization, some of which can vary substantially depending on the decisions made to capitalize your business.
  • Noodles & Company Photo by fensterjNet Sales is defined for this Statement as the aggregate amount of all sales of food, beverages, and other products sold in or by a Noodles & Company Restaurant during the entire 52-week reporting period ended January 1, 2013 whether for cash or credit, but excluding:  (1) all federal, state, or municipal sales or service taxes collected from customers and paid to the appropriate taxing authorities and (2) all coupons, promotions, discounts, refunds, employee discounts, or other adjustments made by Noodles & Company Restaurants.
  • Of these 237 company-owned Restaurants, 45.1% attained or surpassed the Average Net Sales.
  • Cost of Sales includes the cost of food, beverages, paper, and other products included in the preparation and sale of food, beverages, and other products to customers. The cost of sales may vary considerably based on where a Restaurant is located within the geographical area serviced by the company’s approved suppliers and distributors.
  • Labor includes wages paid to management and employees of the Restaurant, including restaurant managers and shift supervisors, management bonuses, payroll taxes, health insurance, workers compensation, vacation and other employee benefits. This amount does not include wages or overhead from Noodles & Company Central Support Office.
  • Controllable Expenses include repairs and maintenance, smallwares, cleaning supplies, office supplies, trash removal, uniforms, employee activities, and other miscellaneous operating expenses.
  • Occupancy Costs includes base rent, percentage rent, common area maintenance, real estate taxes, and other miscellaneous lease expenses.
  • Non-Controllable Expenses include personal property taxes, credit card processing fees, bank charges, restaurant marketing, leased equipment and licenses, utilities, insurance, and other miscellaneous fixed expenses.
  • Restaurant EBITDA means restaurant contribution to profit before interest expense, income taxes, depreciation, and amortization. Calculation of Restaurant EBITDA for this Statement excludes the 5% Royalty, which these Restaurants are not charged. Of these 237 company-owned Restaurants, 49.4% attained or surpassed the Average Restaurant EBITDA.

Table 1 – Statement of and Information Regarding Average Net Sales of Noodles & Company Restaurants for the 52-Week Period Ended January 1, 2013



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