What was the amount of depreciation and amortization for Noodles & Company in the most recent year presented?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
You may incur debt in connection with the development of Noodles & Company Restaurants hereunder, provided that (a) you will, in connection with the development of each such Restaurant, receive equity contributions from your Owners equal to not less than 25% of the total development cost of the Restaurant (which shall consist for this purpose of the cost of all leasehold improvements, furniture, fixtures and equipment) and (b) from and after the first anniversary of the opening of your first Restaurant hereunder, at no time shall your total indebtedness outstanding at any time during any fiscal year exceed 4.0 times your earnings (determined in accordance with generally accepted accounting principles consistently applied) before interest, taxes, depreciation and amortization (EBITDA) minus any distributions to Owners for such fiscal year. You agree to provide within 90 days after the end of each fiscal year a statement certified by one of your executive officers setting forth the amount of your EBITDA and distributions to Owners (if any) for such year and your indebtedness at year end. Such debt shall have an initial amortization schedule of no more than 10 years from inception. You shall not extend, renew, refinance, modify or amend any debt or liability permitted by this Section 3.07 without our prior written consent, which consent shall not be unreasonably withheld.
Source: Item 23 — RECEIPT (FDD pages 99–350)
What This Means (2025 FDD)
I am unable to provide the exact amount of depreciation and amortization for Noodles & Company, as the provided excerpts from the 2025 Franchise Disclosure Document do not contain this specific financial figure. However, the FDD does reference EBITDA (earnings before interest, taxes, depreciation, and amortization) in the context of franchisee debt restrictions.
Specifically, the FDD states that a franchisee's total indebtedness outstanding at any time during any fiscal year should not exceed 4.0 times their EBITDA, minus any distributions to owners for such fiscal year. Franchisees are required to provide a certified statement of their EBITDA, distributions to owners, and year-end indebtedness within 90 days after the end of each fiscal year.
To obtain the specific depreciation and amortization figures, a prospective Noodles & Company franchisee should directly request the company's financial statements from the franchisor. This information is crucial for understanding the company's profitability and financial health, which can help in making an informed investment decision.