#489
At a Glance
Products & Services: Grilled sandwiches, burgers, baked potatoes, salads, fries
Number of Locations: 75
Total Investment: $130.5K - 580.2K
Founded: 1982
Began Franchising: 1983
Private Owned
About The Steak Escape
The Steak Escape was established in Columbus, Ohio, in 1982 by Ken Smith and Mark Turner. One year later, Escape Enterprise Ltd. was formed, and Steak Escape started franchising mall sites, as well as locations in college campuses, airports and sports arenas. The privately held company specializes in genuine Philadelphia cheesesteaks and operates in more than 30 states as well as overseas.Franchise Units
| Year | U.S. | Canadian | International | Company Owned |
| 2011 | 65 | 0 | 5 | 5 |
| 2010 | 73 | 0 | 2 | 5 |
| 2009 | 93 | 0 | 5 | 5 |
| 2008 | 110 | 0 | 3 | 6 |
Where Seeking Franchisees: Franchisor is seeking new units internationally.
Startup Costs, Ongoing Fees and Financing
Total Investment: $130,500 - $580,200
Franchise Fee: $15,000 - $25,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 20 years, renewable
Franchise Fee: $15,000 - $25,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 20 years, renewable
Financial Requirements
Net Worth: $350,000
Liquid Cash Available: $100,000
Operations
90% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 20 - 25. Absentee ownership of franchise is allowed. (75% of current franchisees are owner/operators).| Financing Type | In-House | Third Party |
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How This Franchise Supports Franchisees
Training: Available at headquarters: 3 weeks. At franchisee's location: 1 week.
Ongoing Support: Newsletter, Toll-free phone line, Grand opening, Internet, Field operations/evaluations,
Marketing Support: National media,