Cook the bacon in a large pot or Dutch oven until crispy. Remove the bacon and set aside, reserving the bacon fat. Crumble the bacon once cooled.
Melt the butter in the same pot with the reserved bacon fat over medium heat. Add the chopped onion and cook until softened, about 5 minutes. Add the minced garlic and cook for another minute until fragrant.
Sprinkle the flour over the vegetables and cook for 1-2 minutes, stirring constantly, to create a roux.
Gradually whisk in the chicken broth, making sure to break up any lumps. Bring the soup to a simmer, then stir in the heavy cream.
Add the gnocchi to the soup and cook according to the package directions. They usually take just a few minutes to cook through.
Remove the pot from the heat and stir in the shredded cheddar cheese until melted and smooth. Stir in most of the crumbled bacon, reserving some for garnish.
Season the soup with salt and pepper to taste.
Serve hot, garnished with the remaining bacon and a sprinkle of fresh parsley.
