Noble Roman's is a pizza franchisor and restaurant operator that manages two distinct business models: a non-traditional franchise program and a chain of full-service restaurants. The non-traditional program, which serves as the primary growth engine, licenses a turnkey foodservice model to convenience stores and other host locations like hospitals. This program provides operators with proprietary, shelf-stable ingredients and a simplified preparation process that requires no specialized dough-handling expertise. Noble Roman's earns revenue through upfront franchise fees and ongoing margins on proprietary ingredients sold to these franchisees. The company's other segment, Craft Pizza & Pub, consists of nine dine-in locations offering pizza, pasta, and alcohol. While Noble Roman's currently operates these company-owned locations itself, it intends to use them primarily as a proof of concept for future franchising. The company's growth strategy centers on expanding the convenience store program, supported by a development agreement for 100 new locations and a backlog of signed franchise contracts. Noble Roman's argues that its franchising business is highly scalable because its fixed overhead costs remain relatively stable as the number of operating locations increases.