NOBLE ROMAN’S PIZZA: Worst Franchises for SBA Loan Defaults
Our recent post 15 Worst Franchises by SBA Loan Defaults listed the franchise concepts with the highest rate of SBA loan defaults for 2008.
[Also read: FRANCHISE LAWSUITS: Noble Roman’s Granted Summary Judgment Against Franchisees]
Noble Roman’s Pizza franchise was listed as the worst. According to Katie Adams of Investopedia:
1. Noble Roman’s Pizza
Billing itself as “The Better Pizza People,” this Indianapolis-based franchiser has had a tough time selling that proposition to customers.
While the company reported a 30% net income increase in Q1 of 2009, Q2 total revenues were down more than $500,000 from the comparable period in 2008.
Maybe that’s why 53% of all owners with SBA loans defaulted in 2008.
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