The Great Steak & Potato Co.
At a Glance
Products & Services: Philly cheesesteaks, fries, baked potatoes
Number of Locations: 104
Total Investment: $151.2K - $559.8K
Began Franchising: 1986
About The Great Steak & Potato Co.Nicola J. Lanni opened the first Great Steak & Potato Co. store in Dayton, Ohio, in 1982. The stores' menus include Philadelphia Cheesesteak sandwiches, fresh-cut French fries, chicken and baked Idaho potatoes. The signature cheesesteak sandwich is prepared with grilled USDA choice sirloin steak and onions, melted Provolone cheese, mayonnaise, lettuce and tomato on a warm bun. Every item is grilled and prepared to order in front of the customer.
Great Steak & Potato is owned by Kahala, franchisor of Blimpie, Cereality, Cold Stone Creamery, Frullati Café & Bakery, Johnnie's, Nrgize, Ranch 1, Rollerz, Samurai Sam's, Surf City Squeeze and TacoTime.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $30,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable
Veteran Incentives: 20-50% off franchise fee
Financial RequirementsLiquid Cash Available: $30,000
Operations35% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 10 - 15. Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators).
|Financing Type||In-House||Third Party|