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Noble Roman Pizza

Noble Roman Pizza

The total investment to open a Noble Roman Pizza franchise ranges from $37,030 to $478,770.

What is the Noble Roman Pizza franchise?

Noble Roman Pizza is a full service restaurant brand headquartered in Anderson, Indiana. It focuses on pizza, a food with broad appeal across age groups and demographics. Its full service format places the concept apart from quick service and fast casual restaurants through table service, a wider menu, and an atmosphere intended for relaxed meals and social occasions. The model can serve family dinners, casual visits, and celebrations. A full service operation may also offer appetizers, salads, desserts, and a complete beverage program, creating more dining occasions and potentially higher average checks than a pizza only concept. Public records do not provide extensive detail about the brand’s founding story, but its identity communicates a focus on quality and pizza tradition. The continuing popularity of pizza gives the franchise a base of established consumer demand, while the service model requires attention to food quality, customer service, and the local community.

The pizza and full service restaurant markets are large, competitive sectors. The global pizza market continues to grow because of urbanization, rising disposable income, convenience, and ongoing changes in flavors and crust options. Projections commonly place annual growth at more than 4% to 5%, with the market reaching multi billion dollar valuations in coming years. The broader full service restaurant segment also involves billions of dollars in annual consumer spending as people dine out for convenience and social experiences. Pizza has shown resilience during economic downturns because it is affordable, versatile, and familiar across demographic groups. Full service restaurants compete through atmosphere, service quality, menu breadth, and customer loyalty. Consumer interest in healthier choices, plant based alternatives, and locally sourced ingredients also creates opportunities for operators that adapt their menus. These restaurants face the added work of managing a broader kitchen, front of house staff, and more inventory, but they may produce higher margins and stronger customer engagement than fast casual concepts. Alcoholic beverages, where offered, can increase revenue potential and affect the overall dining experience. Pizza’s role as a shared meal, combined with demand for comfortable dining environments, supports ongoing demand. The market is mature while still allowing innovation, quality execution, and location based competition.

The estimated initial investment for a Noble Roman Pizza franchise ranges from $37,030 to $478,770. The total depends on the operating model, geographic area, and real estate situation. Public information does not specify the initial franchise fee. That fee generally covers the right to use the brand name, trademarks, operating systems, and proprietary information, along with access to the business model and support structure. The investment range can include leasehold improvements or real estate acquisition, depending on whether the franchisee renovates an existing location or constructs a new restaurant. A full service restaurant also requires commercial kitchen equipment such as ovens, mixers, refrigeration units, preparation stations, and dishwashing equipment, as well as dining room furniture, fixtures, and point of sale systems. Opening inventory can include food ingredients, beverages, paper goods, and cleaning supplies. Real estate costs can vary by market demand, population density, and visibility. A high traffic location may cost more while offering greater customer traffic and revenue potential. Training costs for the franchisee and key management staff are also included in the overall investment. Buyers should review the Franchise Disclosure Document, especially Items 5, 6, and 7, for the estimated initial investment, continuing fees, and financial obligations tied to opening and operating the franchise. The size of the range makes capitalization, business planning, and financial management important before signing a franchise agreement.

The Noble Roman Pizza operating model is intended to give franchisees the procedures and training needed to manage a full service restaurant, including those with limited prior culinary or hospitality experience. Initial training would generally combine classroom work with practical instruction at a certified training location. Topics would cover Noble Roman Pizza food preparation, inventory control, waste reduction, use of proprietary point of sale systems, local marketing, and recruiting, training, and retaining employees. Training would also address health and safety requirements, cleanliness, and consistent food quality across locations. Continuing support is a central part of the franchise relationship. Field support representatives may visit restaurants to provide operating guidance, review performance, and help solve problems. A support team at the corporate headquarters in Anderson, Indiana, would likely assist with matters such as marketing campaigns and supply chain logistics. The franchisor may use its purchasing power to negotiate terms with approved vendors for ingredients, equipment, and supplies. Marketing support can include national or regional advertising, digital marketing strategies, and local store marketing tools. An operating manual would detail daily opening and closing procedures, customer complaint handling, and other parts of restaurant management. This structure is intended to reduce some of the risks of starting a new business and give franchisees access to shared operating experience. Franchisees would still need to follow brand standards and manage daily execution to maintain quality and customer satisfaction.

Results for a full service pizza restaurant can vary with operating efficiency, local competition, customer traffic, average check size, and cost control. Without specific FPR information, a prospective franchisee should study the intended territory, speak with existing Noble Roman Pizza franchisees where possible, and work with a qualified financial advisor to review the FDD and prepare projections. Industry averages can provide context, but the performance of an individual location will depend heavily on execution, site selection, and local market conditions. A buyer should investigate expected revenue and operating costs before making an investment decision.

Noble Roman Pizza currently has 28 total units, reflecting measured expansion in the full service restaurant sector. This unit count indicates that the brand has progressed beyond its initial concept stage and has developed an operating model used across its existing locations. Its Loan Activity Score is 23. The score is presented within the PeerSense framework as a data point concerning the brand’s health, potential, or investment profile, although the source does not provide the scoring methodology. Twenty eight units represent a smaller system than larger brands with faster expansion, but may reflect attention to franchisee support, operating consistency, and market selection. The full service format gives the brand a point of difference from quick service pizza through table service, a broader menu, and a more inviting dining environment. Those features can support higher average checks and repeat visits. Pizza also provides broad and continuing product demand. Experience from the existing 28 units may support supply relationships, operating efficiencies, consistent product quality, and lessons about local markets and customer preferences. The concept may serve dine in customers as well as take out and catering customers, creating additional revenue sources. A system of this size may still have available territories before markets become saturated. The brand can use experience from its current units to refine operating practices and develop additional locations in a measured manner.

A suitable Noble Roman Pizza franchisee generally needs more than the capital required for the $37,030 to $478,770 investment range. Useful qualities include leadership, interest in hospitality and customer service, and a hands on approach to managing the business. Restaurant experience can help but may not be required because the franchise system provides training and support. Knowledge of financial management, marketing, and human resources is valuable. Franchisees should be involved in their communities and prepared to build relationships with customers and employees. Restaurant ownership also requires persistence, attention to quality, and the ability to adjust to changing market conditions. Managing and motivating employees is especially important in a full service operation. Franchisees must follow the franchisor’s operating standards and brand guidelines so that customers receive a consistent experience across locations. Territory selection is another major factor. A suitable market generally needs enough population density and income to support full service dining. The site should offer visibility, parking, and convenient access for dine in and take out customers. Nearby residential areas, business districts, schools, and other community centers can affect traffic. The franchisor may conduct market research that considers competition and the potential for another Noble Roman Pizza unit. Buyers should also examine the local labor market to determine whether enough qualified workers are available. Territory decisions should fit local conditions and the franchisor’s development plans.

Noble Roman Pizza offers an opportunity to enter the full service restaurant sector with 28 existing units and an investment range of $37,030 to $478,770. The current system provides an established operating base while leaving room for development in additional territories. The Loan Activity Score of 23 is another data point for prospective investors reviewing the brand through PeerSense. Pizza has broad consumer recognition, and the full service format centers on table service, a wider dining experience, and a community location. The investment covers a range of operating models and market conditions, but buyers should assess the costs that apply to their particular site rather than relying only on the headline range. Due diligence should cover the operating model, training and continuing support, territory, staffing needs, real estate, ongoing fees, and local competition. A review of the Franchise Disclosure Document and discussions with current franchisees can help clarify the opportunity. Buyers should also prepare location specific financial projections and determine whether they have enough capital and management capacity for the opening period and continuing operation. PeerSense provides independent franchise research information for that review. PeerSense is a commercial capital advisory firm that introduces franchise buyers to SBA and conventional lenders, but it is not a lender and does not approve or provide loans.

Loan Activity Score

23/100

SBA Default Rate

61.8%

Active Lenders

16

According to its Franchise Disclosure Document or public business records, Noble Roman Pizza has 12 locations, all owned by franchisees. Public SBA loan records show 16 lenders made 34 loans to franchisees of Noble Roman Pizza. PeerSense calculates Noble Roman Pizza's score as 23 out of 100, using public SBA loan performance and recent lending activity.

12 locations

Investment

$37,030 to $478,770

Total Units

12

12 franchised

Loan Activity Score
High
23
SBA Lending
0
Lender Quality
9
Transparency
4
Reach
7
Momentum
3

Proprietary PeerSense metric

Limited
Capital Sources
16SBA lenders

Distinct lenders in public SBA records for Noble Roman Pizza

34

Total SBA loans

$315K

Average loan size

Source: public SBA 7(a) and 504 loan records through December 31, 2025

Referral fee at closing

SBA Lending Activity for Noble Roman Pizza

Loan Activity Score Breakdown

Established (25 to 99 loans)

High Confidence
23out of 100
Limited
Market Momentum3/35

Are lenders increasingly or decreasingly funding this brand? Growing trends score highest.

Loan Safety0/25

Blended default rate (recent + all time) compared to NAICS sector peers.

Lender Confidence9/15

Quality lenders actively backing this brand, with penalty for lender pullback.

Transparency4/15

FDD availability, Item 19 disclosure, and overall data completeness.

Footprint7/10

Geographic spread of SBA funded locations across states.

SBA Lending Performance

SBA Default Rate

61.8%

vs 10.3% peer avg

SBA Loans

34

Total Volume

$10.7M

Active Lenders

16

1 selective

States

11

vs. SBA Sector Average

-51.5%higher default rate

SBA loan default rate vs. all franchises in the same NAICS sector, not limited to direct competitors

Key Highlights

Data Insights

Key performance metrics for Noble Roman Pizza based on SBA lending data

SBA Default Rate

61.8%

51.5% above peer avg

SBA Loan Volume

34 loans

Across 16 lenders

Lender Diversity

16 lenders

Avg 2.1 loans per lender

Investment Tier

Mid range investment

$37,030 to $478,770 total

Noble Roman Pizza: Deep SBA Data

Brand specific metrics derived directly from SBA 7(a) approval records: peak lending year, leading state, average loan size, and lender concentration. PeerSense computes these per brand so capital advisors and prospective franchisees can benchmark this opportunity against the rest of the franchise universe.

Peak SBA Year

2007

13 approvals. The best year on record for Noble Roman Pizza.

Top SBA State

Indiana

11 SBA financed Noble Roman Pizza locations, the densest operator footprint.

Average Loan Size

$315K

Median $277K. Use as a sizing anchor when modeling your own Noble Roman Pizza unit.

Lender Concentration

52.9%

Concentrated

Share of Noble Roman Pizza approvals captured by the top 3 SBA lenders.

Noble Roman Pizza's SBA lending pipeline peaked in 2007 (13 approvals). Operator density is highest in Indiana with 11 SBA financed locations. Average funded ticket sits at $315K, with the median at $277K. Lender mix is concentrated: the top three SBA lenders account for 52.9% of approvals. Credit decisions concentrate with a small group of incumbents.

Payment Estimator

Loan Amount$30K
Interest Rate9.5%
Term (Years)10 yr

Estimated Monthly Payment

$383

Principal & Interest only

Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.

Locations

Noble Roman Pizza, unit breakdown

Total Units
N/A
Franchisee Owned
n/a
System Owned
n/a
Closed
n/a

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Noble Roman Pizza

Page Review

Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense

  • PeerSense is a capital advisory firm that places commercial financing with direct capital sources; it does not lend, fund, or approve loans, and the capital source sets final terms.
  • Edward L. Freeman founded PeerSense in January 2020.
  • He is a Registered Franchise Consultant with Business Alliance, Inc., a credential issued in March 2022, and worked as a franchise consultant there from March 2022 to May 2023.
  • His recorded experience includes a $22 million SBA construction loan, with about $16 million funded on the deal.
  • In the 12 months through September 30, 2026, PeerSense tracked 912 publicly announced financings with a disclosed size of $361.32 billion. PeerSense Capital Data Report · Methodology page

Last reviewed LinkedIn profileAbout Edward Freeman