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Noodles & Company facts for kids
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Location in Hillsboro, Oregon, 2013
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| Public | |
| Traded as | NASDAQ: NDLS (Class A) Russell 2000 Index component |
| Industry | Fast Casual |
| Founded | 1995 in Cherry Creek, Denver, Colorado |
| Founder | Aaron Kennedy |
| Headquarters | Broomfield, Colorado, U.S. |
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Number of locations
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448 |
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Area served
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United States |
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Key people
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Dave Boennighausen (CEO) |
| Products | Pasta Salads Soups Appetizers & Other food products |
| Revenue |  US$475.16 million (FY Ended 12/28/2021) |
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Operating income
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US$5.82 million (FY Ended 12/28/2021) |
| US$3.66 million (FY Ended 12/28/2021) |
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| Total assets |  US$341.46 million (FY Ended 12/28/2021) |
| Total equity | US$37.63 million (FY Ended 12/28/2021) |
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Number of employees
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~8,000 (As of Dec. 28, 2021) |
Noodles & Company is a popular American restaurant. It serves many kinds of noodle dishes from around the world, plus soups and salads. Aaron Kennedy started the company in 1995. Its main office is in Broomfield, Colorado. The company became public in 2013. By mid-2022, there were 458 Noodles & Company restaurants in 31 states.
Contents
The Story of Noodles & Company
How It All Started
The idea for Noodles & Company came from Aaron Kennedy. He used to work in marketing for Pepsi. One day, he ate at a noodle shop in New York City. He realized there weren't many restaurants that focused on noodle dishes. Noodles are a big part of many foods worldwide.
In 1994, Aaron Kennedy began creating recipes. He worked in his mother-in-law's kitchen. He was joined by Joe Serafin and Ross Kamens. Aaron used his own money and got investments from friends and family.
The very first Noodles & Company opened in October 1995. It was in the Cherry Creek area of Denver, Colorado. Aaron teamed up with Tom Weigand, a real estate developer. They opened a second restaurant in Madison, Wisconsin, the next March.
Early Challenges and Changes
In its first three months, Noodles & Company lost money. It almost closed down in 1996. This happened after a newspaper published a negative review. The reviewer said the idea was good but criticized almost every dish. Other newspapers also gave similar reviews.
Aaron Kennedy decided to make big changes. He called it the "Redefine Noodles & Company" campaign. They worked to improve almost everything about the restaurant. The team visited other noodle restaurants to learn. They made a list of 15 things to improve.
The restaurant changed its look to have warmer colors. They stopped using steam tables to keep food warm. Instead, they started cooking each dish fresh when ordered. New managers were hired, and a chef improved the menu. Within two months, the food was much better.
Growing Bigger
From 1996 to 2000, Noodles & Company grew a lot. Its earnings went from $330,000 to $13 million. Food critics in many cities started calling it the best fast-food restaurant. It was often listed as a "company to watch."
The company had 37 locations in 2002. By 2007, it had grown to 142 locations. In 2003, the company started allowing people to open their own Noodles & Company restaurants as franchises. By 2007, 22 stores were franchises.
In 2004, the restaurants were redesigned. They used lighter colors and new packaging. They also made it easier for customers to pick up orders. The cooking area was made open so customers could see the food being made.
The company's main office moved to Broomfield, Colorado, in 2006. Aaron Kennedy, the founder, stepped down as CEO that year. Kevin Reddy took over as the new CEO. The number of Noodles & Company locations tripled by 2013, reaching 339.
Recent Times
In 2010, an investment group bought most of Noodles & Company. In 2013, the company decided to offer its stock to the public. This is called an initial public offering (IPO). They wanted to sell $75 million in stock on the NASDAQ stock exchange.
At that time, the company had 339 locations. On June 27, 2013, Noodles & Company's stock price doubled on its first day. Many news outlets called it "the hottest IPO of the year."
In 2015, Noodles & Company closed 16 restaurants. These were mostly in places like Austin, Texas. In 2017, the company planned to close 55 restaurants that were not doing well. However, they also planned to open 14 to 17 new ones.
They also tried out a new idea in some cities. They called it Noodles World Kitchen. This test included new menu items and ways to customize food. It also offered quick pick-up service and a rewards program for customers.
What's on the Menu?
Noodles & Company serves many kinds of noodle dishes. These include international and American styles. They also offer soups, salads, and pasta. You can also buy baguettes and desserts like Rice Krispies Treats.
Originally, most pasta dishes were vegetarian. You could add protein like tofu, chicken, beef, or shrimp. In 2017, menu items started to feature specific proteins. For example, you can order Buffalo Chicken Mac. You can also choose a different protein or no protein at all.
Customers order their food at the counter. Then, the food is brought to their table. It usually takes about five to seven minutes. The average cost for one person is around $8. The restaurants have soft lighting and furniture made from recycled bamboo. They have bench seating and large tables for groups.
You can order food online for eating in or taking out. Most locations offer curbside pickup. Some even have drive-up lanes for picking up orders.
New seasonal items were added to the menu in 2002. Two years later, they added dishes without noodles. This was because many people were trying low-carb diets. In 2013, they added three seasonal items and a gluten-free pasta.
In 2015, Noodles & Company started offering customizable kids' meals. They also offer gluten-free and vegan options. However, they do warn that cross-contamination might happen.
Advertising and Marketing
From 1997 to 2002, Noodles & Company used outdoor and print ads. By 2002, they started showing ads on TV. Later, they reduced their advertising. Then, in 2008, they started a new marketing effort.
The slogan "Your World Kitchen" was introduced in 2013. Most of Noodles & Company's advertising is on billboards. They also use radio, digital media, and news websites. The billboards often highlight the global foods they offer. One billboard points to a parking lot and says, "Recipes imported from more countries than these cars."
How the Company Works
Many Noodles & Company restaurants are owned and operated by the company itself. But some are run as franchises. A franchise is a restaurant owned by an independent person or group. These owners are trained by Noodles & Company. They use the same menu, prices, and brand as the company-owned stores.
In 2010, an average Noodles & Company store made over $1 million in sales each year. About 25 percent of these sales came from takeout orders. Noodles & Company is careful about who they choose as franchise partners. They have more company-owned stores than many other franchise restaurants.