What was the general and administrative cost for Noodles & Company in 2024 (in thousands)?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
from operations to evaluate performance and make key operating decisions, such as deciding the rate at which we invest resources into the segment.
The following table presents selected financial information with respect to our single reportable segment regularly reviewed by our CODM for 2024, 2023 and 2022 (in thousands):
| 2024 | 2023 | 2022 | ||
|---|---|---|---|---|
| Revenue: | ||||
| Restaurant revenue | $ 483,097 | $ | 492,648 | $ 498,359 |
| Franchising royalties and fees, and other | 10,174 | 10,757 | 11,121 | |
| Total segment revenue | 493,271 | 503,405 | 509,480 | |
| Less: | ||||
| Cost of sales | 123,692 | 124,102 | 137,859 | |
| Labor | 154,258 | 157,608 | 155,023 | |
| Occupancy | 46,366 | 45,925 | 45,213 | |
| Other restaurant operating costs | 95,032 | 91,559 | 91,220 | |
| General and administrative | 50,824 | 51,833 | 49,903 | |
| Depreciation and amortization | 29,066 | 26,792 | 23,268 | |
| Pre-opening | 1,543 | 2,215 | 1,662 | |
| Restaurant impairments, closure costs and asset disposals | 20,268 | 8,400 | 6,164 | |
| Total segment expenses | 521,049 | 508,434 | 510,312 | |
| Segment loss from operations | $ (27,778) $ | (5, |
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, the general and administrative expenses for the company in 2024 were $50,824 (in thousands). This figure is part of the consolidated statement of operations, reflecting the costs associated with managing the company's overall business activities. These costs are part of the total segment expenses, which also include cost of sales, labor, occupancy, other restaurant operating costs, depreciation and amortization, pre-opening costs, and restaurant impairments, closure costs and asset disposals.
General and administrative expenses typically cover a range of overhead costs, such as salaries for corporate staff, office expenses, legal and accounting fees, and other costs not directly tied to restaurant operations. For a prospective franchisee, understanding this figure provides insight into the financial health and operational efficiency of Noodles & Company. It is important to note that these expenses are for the entire Noodles & Company system, including both company-owned and franchised locations.
When evaluating a franchise opportunity, it's crucial to consider how these corporate-level expenses might impact the support and resources available to franchisees. While franchisees do not directly pay these general and administrative costs, the efficiency with which Noodles & Company manages these expenses can affect the overall financial stability and the ability to invest in areas that benefit franchisees, such as marketing, training, and technology. A lower general and administrative expense relative to revenue could indicate a more efficient operation, potentially leading to better support and resources for franchisees.
Prospective franchisees should also compare these expenses with those of other franchise systems in the fast-casual restaurant industry to assess whether Noodles & Company's overhead costs are in line with industry standards. This comparison can provide a more comprehensive understanding of the company's financial management and its potential impact on the profitability and sustainability of a franchise location.