Started in Denver, Colorado, in 1995, Noodles & Company has committed itself to serving fresh, fast meals. They’ve been doing so with flair since the company became profitable in 1997.
Since its opening, the restaurant has served a variety of foods, including sandwiches and flatbreads, and has expanded to include salads, Wisconsin Mac & Cheese, Pad Thai, and more.
Despite its growth, Noodles & Company is no stranger to a shakeup. It’s considering closing a few locations in the coming months, which might help you stretch your restaurant budget .
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Noodles & Company expects to close 10-15 restaurants
Recently, Noodles & Company held an earnings call during which it was announced that it will be shutting down around ten to fifteen of twenty underperforming locations this year.
The storefronts that will be affected are not performing as well as others, but with 475 locations in 31 states, it’s hardly devastating news for the beloved chain.
Explained CEO Drew Madsen, "We believe closing underperforming restaurants will allow us to focus more on our restaurants with the most growth potential and provide an increase in company earnings and cash flow post closure.”
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Location shutdowns are TBD
While the locations that are closing have not been identified specifically yet, there is speculation that a couple of Illinois locations may be included on that list.
Madsen indicated that they will most likely end lease contracts when the time comes and that it would not be a dramatic exit from the market.
This isn’t their first downsizing
While twenty don’t seem like that many, the Noodles & Company franchise is no stranger to downsizing. In 2017, they closed 55 restaurants in just six months due to the same underperformance factor. At the time, this equated to 10% of their existing storefronts.
Before that, Noodles & Company was on the brink of closing within a year of its first store opening, all because of a negative review. This caused the company to pivot its operations, which then brought it success within a year.
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Noodles & Company is strategizing for growth
While the brand is used to closing shops, it has also experienced explosive growth in the past. In 2002, there were 37 storefronts. By 2003, there were 65, and in 2007, that number more than doubled to 142.
The team’s ability to implement new ideas based on feedback has kept it nimble in the industry for decades.
With all the restructuring and attention paid to new rollouts that were illuminated, Noodles & Company might just be on the up and up soon.
Last quarter, the popular restaurant chain opened five locations, closed one, and refranchised six in Portland, Oregon. Eight new Noodles & Company storefronts have opened so far in 2024.
The restaurant will continue to innovate with its menu
Since the hiring of new CEO Madsen earlier this year, Noodles & Company has been working on overhauling its offerings.
In March, they announced mass menu changes — not a new look for the restaurant, which is known for changing it up occasionally — and the launch of a more “contemporary comfort kitchen culinary identity.”
There are new noodles to try
In 2023, we feasted on new stuffed pasta options, like the Three-Cheese Tortelloni Caprese with Grilled Chicken. This year's dishes added to the selection include a mac n’ cheese menu featuring a delightful Four-Cheese Alfredo Mac.
More to come include Chipotle Chicken Cavatappi, Lemon Garlic Shrimp Scampi, and a Crispy Chicken Bacon Alfredo.
If you like the zucchini noodles with roasted garlic cream sauce, Leanguini Rosa, or Leanguini Fresca, you’ll want to grab them before they’re discontinued in October.
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They will revamp the digital experience
Since 55% of Noodles & Company’s sales come through digital orders, the brand is working hard to incorporate more loyalty perks and personalized offers for rewards program members.
The brand plans to roll out more exclusive meals through the app as well. Lapsed memberships are being reactivated, so if you ever signed up for communication with the franchise, you may hear from them soon.
Catering will be prioritized
Noodles & Company reported that catering sales were up over 40% compared to last year. Madsen and his team recognized the potential in catering because of this.
They will promote new deals and opportunities in the coming months, so look for ways to save for popular celebrations like Teacher’s Appreciation Day, Administrative Professionals’ Day, Halloween, and more.
Bottom line
While Noodles & Company has seen its fair share of change over the years, its adaptability and affinity for innovation keep it at the top of mind in the fast-casual world.
Its latest restructuring might mean we lose some great locations, but it will give the company more space to improve the budget dining experience and help keep more cash in your wallet .
Money tips that can work for everyone
No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.
Focus on paying off your debt . Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.
Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.
Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).
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