History of Noodles & Company
Noodles & Company is a casual dining restaurant chain based located in Broomfield, Colorado. It was founded on the 15th of May 1995 under the leadership of Aaron Kennedy, the chain was able to overcome challenges in its early period and continued to grow rapidly. After a revenue of $300,000 in 1995, profits climbed to over $300 million by 2013. There are 339 locations in Noodles and Company along with a few franchises.
History of Noodles Early History
The background of Noodles and Company was started by Aaron Kennedy, a former marketing executive at Pepsi. After having dinner in Mamie’s Asian Noodle Shop New York’s Greenwich Village he immediately conceived the concept of the restaurant.
According to Kennedy, it was a demand for it since there weren’t enough eateries or restaurants that served noodles. Alongside Joe Serafin, who would be the future COO of the company, Kennedy began developing recipes that he derived from his mother-in-law’s kitchen of his mother-in-law.
Kennedy could earn $73,000 out of his own pocket and an additional $200,000 was sourced from his family and friends. The first outlet was opened within Cherry Creek in Denver, Colorado in October of 1995, and a second store opened in March of the following year.
History of Noodles Early Struggles and Revamp
In its initial three years in operating, Noodles & Company lost $42,000. In 1996, the company was in danger of closing due to negative reviews about the restaurant that were published by the Wisconsin State Journal and the Denver Post. Instead of closing, Kennedy began a campaign to revamp and reorganize every aspect of the business.
The middle of the year 1996 was when Kennedy together with other senior management executives traveled to Chicago to study the things that successful noodles restaurants were doing well. After returning, however, the cellar of Noodles and Company was inundated. Then, unfazed, Kennedy went on to make a list of 15 items that the business needed to work on. The list stressed that it was necessary to upgrade the menu, update the design and decor, and make pricing more appealing to customers.
The revamp included that the use of warmer colors as a part of the theme of the restaurant. Additionally saute lines were added to cook food as they’re placed on the menu, replacing the traditional steam tables. In addition, an executive chef was brought in to redesign the menu and two additional managers were appointed to oversee the entire project.
While a number of changes were being implemented, however, they were put into the quickest time possible. Industry observers have noted that it took just two months for the dramatic changes and enhancements to be in effect.
History of Noodles Success and Growth
The changes made have had a major impact on Noodles & Company. After a few years of losing revenue, the restaurant was able to earn money, between $300,000 and more than $13 million. At the same time, food critics began to take note and the restaurant earned the reputation of being a great restaurant to dine in after work.
In 2002, Noodles and Company was home to 37 restaurants. The number grew to 65 by 2003, and by 2007, the total was 142. It was also 2007 when the restaurant began franchising. The franchises were branded with the new packaging and color changes that were introduced in 2004. Noodles & Company also now put more emphasis on carry-out orders and also redesigned the restaurants to ensure that the saute line became more visible.
It was in the year 2006 that the corporate headquarters of Noodles and Company was relocated into Broomfield, Colorado from Boulder in 2006. In the same year, Kennedy was removed as CEO and was replaced by Kevin Reddy. Despite the shift and the economic crisis of 2007-2008, Noodles & Company continued growing to 339 branches.
Apart from the expansion, a large stake in Noodles and Company was bought from Catterton Partners and a group of investors. In the month of January, it came out that the business was in the process of preparing an IPO and just within two days of the stock market announcement was announced, the cost of Noodles and Company shares doubled.
Franchises and Operations
A majority of Noodles and Company restaurants are operated through the corporation. However, there are a few that are currently franchising. Franchise locations are operated by a franchisee that Noodles & Company trains. To ensure the highest quality the menu, branding, and pricing are identical to the locations run by the company.
Records from 2010 show that every Noodles and Company restaurant earns one million dollars in annual sales. million, which is the restaurant to earn 21% of its profits. Based on the most recent figures taking orders for a takeaway account for over 25% of the revenue. The growth of franchising has been steady, however Noodles & Company is noted as being selective about franchise partners, which is why it has the greater proportion of restaurants that belong to the corporation.
Although Noodles & Company has undergone numerous modifications, the main changes are related to their menu. At present, the restaurant offers American and international cuisines and sandwiches as well as pasta, salads, and soups. Most of their pasta dishes are vegetarian however alternatives for tofu, shrimp chicken, and beef are readily available. Additionally, Noodles & Company is famous for its affordable meals, with the majority of meals costing around $8 per person. Additionally, Noodles & Company is also known as a source of recycled bamboo furnishings.
Did noodles and the company change their name?
It has changed its name officially to “Noodles World Kitchen” on Thursday at the Springs. In addition to the name change Noodles is currently testing a range of new menu items only within Olympic City USA before potentially rolling them out across the nation.
Does McDonald’s own noodles company?
Noodles & Co has both franchisees and stores that are operated by the company. In the year that ended in June, Noodles & Co generated $253 million in revenues from 239 owned by the company and $2.6 million in sales from franchised stores in 45 – which equates to $256 million of revenues from 284 restaurants. ….
What’s the Deal With Noodles & Company?
Who is Noodles and Company-owned by?