Noodles & Co.
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| Public | |
| Traded as | : NDLS |
| Industry | Fast Casual |
| Founded | 1995 in Cherry Creek, Denver, Colorado |
| Founder | Aaron Kennedy |
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Number of locations
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410 |
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Key people
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Dave Boennighausen (CEO) |
| Products |
Pasta Salads Soups Appetizers & Other food products |
| Revenue |
 $300.4 million USD |
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US$16.052 million (2012)
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US$5.639 million (2012)
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| Total assets |
US$156.99 million (2012)
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| Total equity |
US$10.4 million (2012)
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Number of employees
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7,000+ |
| Website | www |
Noodles & Company (NASDAQ: NDLS) is a fast-casual restaurant headquartered in Broomfield, Colorado, that offers international and American noodle dishes, as well as soups, salads, and pasta.
It was founded in 1995 by Aaron Kennedy. It grew from $300,000 in revenue in 1996 to $300 million when it went public in 2013. The company had 510 locations, including franchises, in 39 states, as of December 2016.
The idea for Noodles & Company was conceived by former Pepsi marketing executive Aaron Kennedy, after eating at Mamie's Asian Noodle Shop in Greenwich Village, New York. He felt there were not enough restaurants that served noodle dishes, which are a staple for many international foods. Kennedy started developing recipes out of his mother-in-law's kitchen with the future COO, Joe Serafin, and head chef, Ross Kamens, in 1994.
Kennedy raised $73,000 ($118 thousand in 2016 dollars) in personal funds and $200,000 ($323 thousand in 2016 dollars) in investments from 24 friends and family members. The first Noodles & Company was opened in October 1995, in the Cherry Creek neighborhood of Denver, Colorado. Kennedy was joined by partner and real estate developer Tom Weigand, whom he had met at Augustana College. They opened a second location in Madison, Wisconsin, the following March.
In the first three months, Noodles & Company lost $42,000.($64.1 thousand in 2016 dollars), and almost went out of business in 1996 after a reporter with the Wisconsin State Journal published a negative review. He said Noodles & Company was "a killer idea" but "criticized nearly every dish he'd tried." The Denver Post and other newspapers had published similar reviews. In response, Kennedy started a "Redefine Noodles & Company" campaign "to redefine and refine nearly every aspect of the operation."
In mid-1996, the management team went to Chicago to observe other noodle restaurants and, the night of their return, the basement flooded at the Madison location. The next day, Kennedy made a list of 15 areas for improvement.Rocky Mountain News said "the team completely revamped the Noodles concept, overhauling the menu, the prices, the decor and more. It worked." The restaurant implemented a warmer color scheme. Steam tables to keep food warm were replaced with saute lines to cook each dish as it is ordered. Two new managers were hired and an executive chef re-worked the menu. According to Inc. Magazine, within sixty days "the food had improved dramatically."
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Wikipedia