Wednesday, November 29, 2023
HomeExclusiveSteak N Shake Franchise Fee

Steak N Shake Franchise Fee

- Advertisment -

Steak N Shake Classic Franchise

Steak ‘n Shake Franchise Partner Program: Denise Greene

The new Steak n Shake design entertains guests by providing the theater to showcase the production of our famed made-to-order Steakburgers⢠and tasty hand-dipped milkshakes. Conversion opportunities exist to develop a Classic restaurant franchise location.

Square Footage:

  • Building â 3,315 3,800 square feet with drive-thru
  • Land â .7 acres 1 acre

Dining Area & Menu:

  • Dining area of 99 seats plus a quick serving drive-thru
  • Open 24 hours, seven days a week, with full menu

Are Steak Burgers Always Made With Ground Steak

Steakburgers are usually made in the same way that ground beef hamburger patties are with a grinding process that chops up the meat to make it easily moldable into a patty. However, this isnt the only way that you can make patties from steak to create your perfect burger.

Some restaurants and people who enjoy steakburgers at home have adopted a different technique: Adding steak in its whole form to a toasted bun instead of a ground patty. In other words, you cut the steak from the bone to make a boneless portion, cook it to your desired level of doneness, and add it to the bun with your favorite toppings. Its like a burger steak that combines everything you love about hamburgers and steak.

Here at Chicago Steak Company, you can choose the option you like best. We offer gourmet steakburger patties that are already ground and shaped into bun-sized patties for you. But we also have boneless cuts that will do the job as the meat on your juicy burger. Our boneless strip steaks and boneless ribeye steaks, for example, can be cut to fit your bun for a steakburger with unbeatable flavor.

How Much Do Steak N Shake Employees Make

So how much do employees get paid, on average? According to Indeed, pay can vary significantly, depending on the position. Servers at Steak n Shake make the least, at an average of just $7.53 an hour, while restaurant staff can expect to make $9.43 an hour and cashiers $10.15 an hour. Glassdoor does note, though, that servers can expect to receive tips of $3 to $5 an hour as extra compensation, something that no other staff members receive. However, the restaurant recently announced some big changes, including news that the server position will soon be eliminated in favor of kiosks.

Based on Indeeds figures, it pays better to be in management, not surprisingly. Hourly wages for managerial roles include $12.64 for a retail assistant manager, $12.70 for a shift manager, $13.56 for a restaurant manager, and $14.82 for a store manager. On an annual basis, that comes out to $47,564 for a general manager, while district managers can make $73,451 per year.

Benefits also differ depending on the position. According to Steak n Shakes corporate website, hourly employees can expect employee meals, training, cell phone discounts, and flexible scheduling. Those in management roles, however, are entitled to medical and dental insurance, paid vacations, and a bonus program.

Dont Miss: What Ingredients Are In Montreal Steak Seasoning

Don’t Miss: Kansas City Steaks Beef Wellington

Steak And Shake Franchise

Since its inception in 1934 in Normal, Illinois, Steak n Shake has acquired significant brand strength and a devoted fanbase. Today, this 77-year-old iconic American brand, which pioneered the concept of quality Steak Burgers and hand-dipped milkshakes, has relaunched its franchising program.

And it is looking for single and multi-unit operators to help it develop its network of almost 500 QSR sites throughout 22 states.

Steak n Shake offers potential franchisees a wide range of investment and best-in-class aesthetic design options, including Steak n Shake Signature, a new smaller-footprint format well-suited for shopping centers, building on its current best-in-class string of 10 consecutive quarters of positive same-store sales growth despite the Great Recession.

Steak n Shake Signature is a low-cost variant with a more straightforward operation.

Are you want to start and run a franchise without breaking the bank?

According to Steak n Shake, anyone can own a restaurant for as little as $10,000. At first appearance, this appears to be a method to enter the franchise business without getting into debt or having half a million dollars in cash on hand.

But, as with any claim, you have to ask what the catch is.

Inside this franchise evaluation, I delved into all of the finer points and terms of this opportunity, so be sure to read all of the specifics and analysis below.

Read more: Lendio franchise

Advantages Of Owning This Franchise Opportunity

Steak n Shake Franchise Costs Examined on Top Franchise ...

There are several advantages attached to owning a Bonanza Steak and BBQ franchise.

First, franchisees benefit from the business pattern of a global brand. Being a global brand, with outlets spread across several countries including the United States, the Bonanza Steak and BBQ franchisee gets to use the business model of the franchisor which has been tested and consistently given great results.

This ensures that the chances of the franchise not succeeding under the franchisee are significantly reduced.

The franchisee is allowed to operate under the franchisors brand name, plus having unrestricted use of Bonanza Steaks business secrets and formula. There is a sound support network that guides the franchisee at every step of the way, ensuring that minimal to no mistakes are made.

The Bonanza Steak and BBQ franchise have an effective worker-to-business ratio in place. This ensures the business is patterned in a way that there is a decreasing need for many employees.

This strategy significantly reduces the wage bill to be paid, leading to a much-reduced expense on running cost.

Read Also: Quaker Steak And Lube Gift Card

Ideal Candidate & Qualifications

We seek out people who:

  • Are vision-driven, passion-minded, and have an unwavering desire to achieve the American Dream
  • Have a successful track record in business leadership with proven positive results
  • Are free of any other active business ventures and can operate the restaurant on a full-time hands-on basis
  • Are results-oriented self-starters
  • Have a servant heart committed to improving the lives of others
  • Have a passion for excellence

Also Check: Knife Block Set With Steak Knives

Steak And Shake Franchise Fees

As previously stated, you do not control the whole Steak n Shake business unit, but rather a section of it. However, the advantage of this structure is that you only need to invest $10,000 to begin your business.

These figures are merely a rough estimate of what youll need to get started with the franchise and may not include all of the additional fees.

Heres a quick rundown of the basic financial criteria for a Steak n Shake franchise. Its also worth noting that, despite the fact that youre starting a franchise, youll be deemed a franchise partner and will earn half of the revenues.

  • Liquid Capital -$10,500
  • Royalty Fee -5.5%
  • Estimated Initial Investment -$672,000-$1,835,000

A more complete analysis of the costs and fees associated with partnering in a Steak n Shake franchise can be found here. Keep in mind that the fees of setting up a franchise will vary based on the sort of business you choose.

There are a few different types of franchise sites that you will learn about later:

Steak and shake franchise Fee

  • Initial Franchise Fee $25,000 $40,000
  • Working Capital $15,000 $20,000
  • Royalty Fee 5.5%
  • Advertising Fee Not available

Its vital to keep in mind that these are only the start-up expenditures for your firm. Additional costs that are not included in these figures may apply depending on the location or type of shop you intend to start.

Also, keep in mind that the franchise model you choose will have an impact on the quantity of money you spend.

You May Like: Are Omaha Steaks Delivered Frozen

Steak ‘n Shake Classic Franchise

The new Steak ‘n Shake design entertains guests by providing the theater to showcase the production of our famed made-to-order Steakburgers⢠and tasty hand-dipped milkshakes. Conversion opportunities exist to develop a Classic restaurant franchise location.

Square Footage:

  • Building â 3,315 – 3,800 square feet with drive-thru
  • Land â .7 acres – 1 acre

Dining Area & Menu:

  • Dining area of 99 seats plus a quick serving drive-thru
  • Open 24 hours, seven days a week, with full menu

Theres Not That Much Thats Good For You

Steak And Shake Franchise Cost of $10k TOO GOOD to be TRUE?

Sure, everyone loves a milkshake once in a while, but thats the thing its usually just once in a while. Theres a ton of health-conscious consumers out there, and even if youre not looking for an ultra-healthy, super-delicious meal thats still affordable, its safe to say youre also not looking for a heart attack on a plate. And if you hit Steak n Shake, well, there arent that many options there that arent horrible for you.

Theyve gotten some attention for their horribly unhealthy meals, too, named in the Center for Science in the Public Interests Xtreme Eating Awards. In 2015, their completely unnecessary 7×7 Steakburger n Fries and Chocolate Fudge Brownie milkshake made it onto the list, coming in at a whopping 2,530 calories and 68 grams of saturated fat combined. Thats enough to make your arteries start to clog just thinking about it.

And when SFGate looked at what you had to choose from when it came to healthy options there, there wasnt a heck of a lot. They recommended just the mini Steakburger Shooter , and noted that even the healthier-sounding turkey club came with your entire days worth of sodium. Thats unfortunate, because in the 21st century restaurants just need to have decently healthy choices to keep all their customers happy and coming back through those doors.

Recommended Reading: Set Of 6 Steak Knives

Sba Loan For Steak N Shake Details

Please visit the SBA Loan Franchise Directory for the latest details on each franchise and its SBA loan eligibility.

Vetted Biz has reviewed the SBA Loan Data for Steak n Shake. Steak n Shake is available for SBA financing. Steak n Shakes SBA Franchise Identifier Code was issued on October 1, 2017. Steak n Shake also meets the Federal Trade Commissions definition of a franchise.

Receive more information on how to obtain an SBA loan

By clicking the button, you agree to Vetted Bizs Terms of Use and Privacy Policy and consent to receive notices and other communications electronically.

Useful Links

Prsentation De Steak’n Shake

Steak’n Shake a toujours joui dune réputation sans pareil dans la branche de la restauration. Elle enregistre une fréquentation extrêmement élevée avec une vente annuelle dépassant les 110 millions de burgers et les 60 millions de milk-shakes.

Steak’n Shake a bâti sa renommée sur ses steakburgers, ses frites et milk-shakes qui dénotent une qualité et une fraîcheur sans égal.

Aujourdhui, lenseigne continue de servir lexcellence à ses consommateurs grâce à une sélection particulièrement exigeante dingrédients. De plus, dans un restaurant Steak’n Shake, les produits sont toujours préparés devant les clients, ce qui constitue une garantie de leur respect, de leur qualité et de leur fraîcheur.

Don’t Miss: Cooking Steak On George Foreman Grill

Commercial Permits Filed In Round Rock Pflugerville And Hutto Including Mixed

Curious what new businesses and renovations are underway or coming to Round Rock, Pflugerville and Hutto? The following All information, including costsand timelines, is subject to change. Scope of work: This project involves the construction of a new tilt-up building to contain administrative office and manufacturing spaces.

Community Impact Newspaper

Dont Miss: How To Make A Good Steak On The Grill

Steak N Shake Is Franchising Company

Apply Now for your Steak

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.

Dont Miss: Best Place To Buy Steak To Cook

Recommended Reading: Nordic Ware Sizzling Steak Server

How To Buy Fast Food Franchises

In this section, you will find questions regarding how to purchase fast food franchises.

How much is it to buy a McDonalds franchise?

Most franchise owners will enter the franchise world by purchasing an existing McDonalds restaurant. The cost for operating and purchasing a McDonalds franchise can have an investment of at least $1,000, 000 to $2.2 million. The initial franchise fee for a McDonalds franchise is $45,000.

How much is it to buy a Chick-fil-A franchise?

In order to purchase a Chick-fil-A franchise, you will need to have the initial franchise fee of $3,500. However, the operational cost of a Chick-fil-A restaurant can be as high as $296,000.

How much is it to buy a Subway franchise?

In order to purchase a Subway franchise, it will require a franchise fee of $15,000. However, the franchise can have a startup cost including operational costs of $105,800 to as high as $393,000.

How much is it to buy a Starbucks franchise?

Unfortunately, Starbucks does not offer the option to purchase a franchise of one of its stores. However, if you open your own coffee shop, you can apply for a Licensed shop which means the coffee shop is owned by Starbucks and can have a cost of $315,000.

How much is it to buy a Dominos franchise?

To purchase a Dominos franchise, it will require a franchise fee of $25,000. The total investment needed for a Dominos franchise can have a cost between $120,000 to as high as $460,000. There is also a royalty fee of 5.5%.

How Hard Is It To Open A Chick

Operators pay an initial $10,000 fee to be granted the rights necessary to operate a franchised Chick-fil-A, according to the company website. Thats compared to other fast-food chains where franchisees can invest hundreds of thousands, even millions, of dollars to open a restaurant, industry experts said.

Dont Miss: Wagyu Skirt Steak North Italia

You May Like: How Do You Cook Steak

Steak N Shake Wants To Sell All Of Its Company Stores

Steak n Shake, eager to shift more of its restaurants to franchise ownership, is now selling partnerships in all of its more than 400 company-owned restaurants for an initial investment of $10,000.

Thats a fraction of the typical investment for a Steak n Shake restaurant. Initial investment on a classic format Steak n Shake ranges from $1.6 million to $2.6 million, according to the companys franchise disclosure documents.

Qualified operators would have to complete an extensive six-month training program and would pay the $10,000 to buy into the partnership. They would then be single-unit owner-operators.

A spokesperson for Steak n Shake said that the plan is to convert all of the companys corporate locations into these franchise partnerships.

The franchise partner would get 50% of the restaurants profits. The company did not answer questions as to who would be responsible for the costs associated with building and site improvements.

I started my company with $15,000 and built a thriving enterprise, Sardar Biglari, CEO of Steak n Shake owner Biglari Holdings, said 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, he added. We are seeking to harness the power of entrepreneurs and to create a company of owners.

Consider The Following Things

Steak ‘n Shake Franchise Owner Interview: Andre Moore

Sit-down, drive-thru, and front-window service are common at typical restaurant settings, resulting in a mix of fast-food to-go and diner-style sit-down service.

Many Steak n Shake locations are open seven days a week, 24 hours a day. The menu focuses on burgers and hand-dipped milkshakes, but there are also additional meals, side dishes, and drinks to choose from.

Steak n Shake offers a variety of franchise opportunities. In a typical location, there is a sit-down, hybrid service that offers both fast food and sit-down service. It serves an all-American menu of burgers, milkshakes, and other such dishes 24 hours a day, seven days a week.

You May Like: Best Place To Get Steak

How Much Profit Does A Steak N Shake Franchise Makes

The corporation has an annual revenue of $939,990,000 on average. In terms of per-unit sales, the system as a whole has a $1,027,000 average. Keep in mind that you are merely a franchise partner and do not receive 100% of the income.

You will earn a percentage of the revenues depending on the sort of franchise you open. The majority of the time, youll get half of the earnings.

Steak N Shakes Transformation Continues But At A Price

The classic chain is flipping to quick service, and more franchises.

Steak n Shakes two-pronged transformation remains an uphill trek. The company reported Q3 revenue of $57 million, a 27 percent decline from $78.3 million in the year-ago period. The company credited much of the slide to its continued effort to shift company restaurants to franchise-partner locations.

Its a multi-year effort that began in fall 2018, where company stores are sold to single-unit operators for $10,000. The brand then assesses a fee of up to 15 percent of sales as well as 50 percent of profits.

At these stores, however, Steak n Shake only records its portion of restaurant profits and certain fees as revenue. We are therefore fully affected by the operating results of the business, unlike in a traditional franchising arrangement, where the franchisor obtains a royalty fee based on sales only, the company noted in filings.

READ MORE: The Steak n Shake of Old is Gone

After the initial franchise fee of $10,000, recognized when the operator becomes a partner, the company reports franchise partner fees monthly as underlying restaurant sales occur.

The brand had 221 corporate stores as of September 30. There were 276 at the end of last year. In addition, 42 of those company-operated venues were temporarily closed as of September 30.

The franchise-partner tally is up to 140 from 86 at years close.

read more

You May Like: Steak And Shake Grilled Cheese

You May Like: Best Grill For Steaks And Burgers

- Advertisment -

Most Popular

- Advertisment -