What was the occupancy cost for Noodles & Company in 2024?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Delivery program receivables | $ 1,306 | $ 1,869 |
| Vendor rebate receivables | 763 | 779 |
| Franchise receivables(1) | 1,127 | 1,043 |
| Other receivables | 862 | 1,453 |
| Accounts receivable | $ 4,058 | $ 5,144 |
(1) Franchise receivables include amounts related to equipment purchased in advance at a discount for franchisees.
Prepaid expenses and other assets consist of the following (in thousands):
| |
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, prepaid occupancy related costs were $850 in 2024 and $800 in 2023. This indicates the amount that Noodles & Company has already paid for occupancy-related expenses, such as rent, for a future period. It's important to note that this figure represents prepaid costs, not the total occupancy costs for the year.
For a prospective franchisee, understanding prepaid occupancy costs is crucial for financial planning. While this specific figure reflects Noodles & Company's corporate expenses, franchisees will also incur their own occupancy costs, including rent, property taxes, and insurance. These costs can vary significantly depending on the location and lease terms.
It is important to note that this figure only represents the prepaid portion of occupancy costs. To gain a comprehensive understanding of total occupancy expenses, a prospective Noodles & Company franchisee should inquire about the typical range of monthly rent, common area maintenance fees, and other related charges for franchise locations. This information will help in accurately forecasting operating expenses and assessing the financial viability of a franchise.