Steak ‘n Shake Is Franchising 400 Company
We are honoring our heritage as a classic American brand by providing a path to achieving the American Dream. Do you have a successful track record in business leadership with proven positive results? Steak ân Shake is seeking entrepreneurial Franchise Partners with vision, passion and an unwavering desire to take hold of the American Dream.
Advantages Of Steak N Shake
The popular Midwestern-focused restaurant has a lot of benefits. One of the most important benefits to franchising is that the company has withstood all types of economic circumstances without fail. For example, Steak n Shake grew from $268 million in sales to $549 million in sales, even during the economic recession of 2008. In the past decade, the All-American chain has doubled in size, proving its popularity even further.
With over 600 units already established in twenty states, theres still potential to develop in other states. Right now, Steak n Shake wants to open 1,000 units nationwide, in states that havent already been occupied by the franchise.
The franchise has a loyal following, primarily in the Midwestern United States. It is a mid-scale, casual dining option, ideal for middle class families looking for a great meal to enjoy together. The menu of steak burgers, thin and crispy french fries, milkshakes, and chili is already a popular choice amongst their loyal customers, and their menu continues to grow as new trends and ideas come into play.
As a franchise partner, you will be able to operate all aspects of the 24-hour restaurant and become successful both financially and career-wise. Financially, youll receive 50% of the restaurant profits as well as receive a guaranteed $100,000 minimum salary in your first year. Being a franchise partner means that you can reap the rewards of opening a franchise without completely emptying out your pockets.
How Much Money Are Franchise Partners Making
In 2020, the average franchise partner earned $161,079 with some on track to make more than $300,000 in their first year alone. We spoke with Press McDowell, a St. Louis, Missouri franchise partner, who shared, I earned in two months what I made in a year at my previous job.
When asked about the $10,000 one-time cost to join the program, he stated, It is the best investment I have made in my life close to 20 times that amount in the first year.
Says Steak n Shake CEO Sardar Biglari, Doubtless, a good number of our partners will become millionaires. But make no mistake: We are not minting millionaires but are merely providing the meansthey are earning every penny.
Why Did Steak And Shake Shut Down
Why Steak n Shake is turning to counter service is no secret. Biglari said earlier the decision stemmed from the same reason units started to close in the first placecustomer service. The company in recent years took a low-price approach to driving transactions. But its kitchen design lagged behind.
Steak N Shake Franchise Cost
The estimated total investment necessary to begin operation of a traditional Steak n Shake free-standing Quick Service restaurant ranges from $1,208,000 $1,687,000.
Steak n Shake also offers various operating formats and their costs are different from the traditional free standing restaurant.
In-Line Quick Service Format: $454,000 $1,371,000
Non-Traditional: $316,000 $715,000
Roadside Format: $705,000 $1,199,497
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How Much Does It Cost To Open Shake Shack Franchise
Do you want to start a restaurant business by buying Shake Shack franchise? If YES, here is how much it cost to open a Shake Shack franchise. Shake Shack is an American fast casual restaurant chain that is based in New York City. The restaurant was founded by Daniel Meyer. The business all started out as a hot dog cart that was stationed inside Madison Square Park in 2001.
Because of its epic location, the popularity of the business steadily grew. In 2004, it moved to a stand within the park, expanding its menu from New Yorkstyle hotdogs to one with hamburgers, hotdogs, fries and its namesake milkshakes.
Since its founding, Shake Shack has been one of the fastest-growing food chains in the united states, eventually becoming a public company filing for an initial public offering of stock in late 2014. The offering was priced in January 29, 2015, and the initial price of its shares was at $21, immediately rising by 123% to $47 on their first day of trading.
Shake Shack Inc. owns and operates more than 249 locations both domestically and internationally, and it is typically located in stand-alone restaurants and shopping malls.
Financial Requirements And Fees
As mentioned, you technically do not own the Steak n Shake franchise unit outright, but rather a portion of it. The benefit to this structure, however, is that you only need to invest invest $10,000 into the opening of your outlet. These numbers only give you a general idea of what you need to start the franchise and may not include the all additional costs needed.
Here is a base overview of what the essential finance requirements are for a Steak n Shake franchise. It is also important to remember that although you are opening a franchise, you are considered a franchise partner and will receive 50% of the store profits.
It is important to note that these are just the initial costs youll need to get your business started. There may also be additional fees that are not accounted for in these numbers that depend on the location or type of store you want to open. Also, take into consideration that the franchise model you open will influence the amount of money youll spend.
Here is a breakdown of fees required of a Steak n Shake franchise. Unfortunately, the costs of developing the franchise and maintaining it are not available to the public.
|Type of Fee|
|Sub industry:||Fast Food|
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Steak ‘n Shake Franchise Opportunities
Steak ‘n Shake is an American casual restaurant chain which was founded in February, 1934 in Normal, Illinois and started franchising since 1945. The menu consists of the company’s signature steakburgers and hand-dipped milk shakes, along with sandwiches, hot dogs, salads and sides. Many S& S restaurants are open 24 hours a day, seven days per week. As of 2018, 628 restaurants were in operation 414 corporate operations and 214 franchised establishments. Company is seeking entrepreneurial Franchise Partners with vision, passion and an unwavering desire to take hold of the American Dream.
Review: 77 Steakburger From Steak N Shake
Posted March 17th, 2013 | 6:58pm by Chefprotoss
Its 4:45 on a dark, rainy Saturday morning. Why is my alarm clock going off? I should be sleeping now. Did I set it by accident? Oh yeah, its waking me up so I can drive down to Steak n Shake and try their 7×7 Steakburger. The new Up All Night menu has me up before the crack of dawn to grab what any red-blooded American would obviously want to start their day with a full pound of beef and melted cheese. Sarcasm is just as effective as caffeine, you know.Steak n Shake describes the 7×7 Steakburger like this:
Its 7 Steakburgers and 7 slices of American cheese- a one pounder!
Pros: Really great burger. Excellent value. Less of a novelty than a Doritos Locos Taco.
Cons: I just want to order tasty food, take pics, eat and then leave. Why couldn’t I do that? Is that too much to ask for? It also sucks that this burger is only available from midnight to 6am.
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How Much Does A Steak And Shake Franchise Owner Make
Is Steak n Shake profitable? Our traditional franchise businessâdomestic and international combinedâis now a prodigious cash generator. In 2018, franchise operations posted a record profit of $8.0 million. How much does a Steak n Shake franchise owner make? The Opportunity: Become a Franchise Partner with minimal investment.
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Steak N Shake Is Franchising 400 Company
We are honoring our heritage as a classic American brand by providing a path to achieving the American Dream. Do you have a successful track record in business leadership with proven positive results? Steak n Shake is seeking entrepreneurial Franchise Partners with vision, passion and an unwavering desire to take hold of the American Dream.
How Much Does Steak N Shake In The United States Pay
Average Steak N Shake hourly pay ranges from approximately $8.00 per hour for Specialist to $15.75 per hour for Performer. The average Steak N Shake salary ranges from approximately $17,890 per year for Cook/Dishwasher to $124,103 per year for Director of Technology.
Please note that all salary figures are approximations based upon third party submissions to Indeed. These figures are given to the Indeed users for the purpose of generalized comparison only. Minimum wage may differ by jurisdiction and you should consult the employer for actual salary figures.
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Challenges Of Steak N Shake
A potential challenge is the lack of 100% ownership of the franchise. As a franchise partner, you are given 50% of the profits, despite running 100% of the day-to-day operations. If you look at the financial requirements, however, you will see that the small investment fee could make up for the lack of total ownership among some operators.
Steak n Shake seems to be using a similar approach to franchising as Chick-fil-A. After all, Chic-fil-A franchise doesnt actually own their business. The owners are actually the operators of the business. One of the requirements of becoming a Chic-fil-A partner is youll need to actively operate the store you open and it cant be used as a passive investment.
Heres another reason you should be concerned about the Steak n Shake company. The company has been losing a significant amount of money in recent years. For example, in 2020 the franchise lost $4.6 million and shuttered 70 locations over the past two years. No company can continue losing money year after year and expect to remain in business.
- Not having 100% ownership over your site.
- The franchise wants a manager to take over the operations of the restaurant.
- You need to be working in the Steak n Shake and involved in the day-to-day.
- This is not a passive investment opportunity.
- The company has been losing money for the past few years. This isnt sustainable.
S On How To Get A Shake Shack Franchise
Shake Shack does state that a limited number of its locations are operated through licence agreements. That means that it has cultivated a relationship with partners that share its vision in order to expand to international markets. Territories that are currently available under licensing agreements include Bahrain, Egypt, Japan, Jordan, Kuwait, Lebanon, Oman, Qatar, Russia, South Korea, Saudi Arabia, Turkey, United Arab Emirates and the uk.
The burger restaurant has high expectations of its partners, and to become one you must have the right experience behind you. Youll need a proven track record in the retail or hospitality industry, or ideally, in the fine dining, casual dining or quick service sector.
As well as this, you must have strong core values that are in line with Shake Shacks ethos, and enough capital to realize a development agreement in a specified country. Finally, you must have existing company infrastructure and, of course, a strong basis of knowledge of your local territory.
If becoming a franchisee isnt quite right for you, you could become a Shake Shack supplier. If you think the business could benefit from the use of your products, you should get in touch and make your case. Remember, knowing the origins of their food is a priority for Shake Shack, so theyll only consider suppliers if they have the ability to offer quality ingredients that are responsibly sourced.
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Steak N Shake Is Particularly Pleased With The 50
Steak n Shake I wanted to take this opportunity to tell you how much we appreciate the consulting relationship that Steak n Shake has with World Franchise Associates. Steak n Shake is particularly pleased with the 50-store development agreement WFA secured for Saudi Arabia. I continue to be impressed by the quality of the Franchise Candidates that you have brought to us over the last year. Per your invitation we presented at the WFA Conference in Dubai which brought us very positive results that far surpassed what weve experienced at shows with a much larger attendee profile. I look forward to closing on many more groups with you in the near and long term.
Gregory C. Carey
Is The Steak N Shake Franchise Right For You
In order to open and operate a franchise, you must ask yourself whether or not you are qualified and experienced enough to do so. Opening a business is no small feat, but Steak n Shake may just be the right opportunity to get involved as a business owner. Ask yourself the following questions to see if this is the right business opportunity for you:
Do you have enough to liquid capital? Fortunately, this franchise only requires $10,000 of liquid capital to get started. Keep in mind, however, that if you consider royalty and advertising fees, development costs, and building maintenance that your investment will grow to several hundred thousand dollars.
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Are you capable of running this business? If you have no additional business venture, restaurant management experience, commitment to high performance, and a passion for customer service, then this job is the right one for you.
Another thing you need to consider is what specific location youll be running. Ideally, youll be taking over a location thats already profitable. If youre being asked to reopen a store with no existing customer base, theres going to be more risk associated with the location. Make sure to conduct your own due diligence and think about whether or not a location youre being offered is worth it.
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Steak N Shake Wants To Sell 400 Corporate Stores For Cheap
flickr: George Thomas
Steak n Shake isnt fooling around with its refranchising plans. The company announced August 13 its looking to deal its 400-plus company units , to would-be entrepreneurs who want to be hands-on, single-unit owner-operators for a paltry initial investment of $10,000. For comparison, the initial franchise fee for a Taco Bell operator is $45,000. Its $30,000 at Blaze Pizza. Per franchise disclosure documents, the initial investment for a classic Steak ‘n’ Shake runs between $1.6$2.6 million.
I started my company with $15,000 and built a thriving enterprise, said Sardar Biglari, CEO of Biglari Holdings, owner of Steak n Shake, in a statement. I want to provide an opportunity to other entrepreneurs who are highly motivated to excel but lack the financial means. What will be important to become a franchisee is not great capital but great ability. We are seeking to harness the power of entrepreneurs and to create a company of owners.
Steak n Shake added that the offering to buy into the company as a franchise partner requires operators to successfully complete a six-month training program. The franchise partner would then get 50 percent of the restaurant’s profits. This is a partnership, shared-profit deal similar to the system Chick-fil-A deploys.
Considering A Steak N Shake Franchise Dont Overlook These 37 Important Franchise Fees
If you are considering a Steak n Shake franchise, dont get blindsided by these 37 important franchise fees .
1. Franchise Fee: $25,000
- For each Franchise Agreement you sign, you must pay Steak n Shake an upfront fee upon execution of the Franchise Agreement . The Franchise Fee is $25,000 however, Steak n Shake reserves the right to charge a different fee for Restaurants operating from Captive Facilities.
2. Area Development Agreement Fee: the sum of: the amount of the Initial Franchise Fee for the first Restaurant you will open plus a non-refundable deposit for each additional Restaurant that you are obligated to open under the ADA
- ADAs are granted at Steak n Shakes sole discretion. To secure development rights pursuant to an ADA, you must pay Steak n Shake an ADA deposit equal to the sum of: the amount of the Initial Franchise Fee for the first Restaurant you will open plus a non-refundable deposit for each additional Restaurant that you are obligated to open under the ADA.
- The amount of the Per Unit Deposit Steak n Shake requires will vary depending on the number of Restaurants you are granted the right to develop within your Development Area, your restaurant management experience, your creditworthiness, and such other factors as the market for Steak n Shake By Biglari Restaurants within your Development Area.
3. Computer Equipment and Proprietary System Fees: varies
- Due Date: Weekly on Friday.
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