Steak n Shake Enterprises Inc.

At a Glance

Products & Services: Steakburgers & milkshakes

Number of Locations: 497

Total Investment: $672K - $1.8M

Founded: 1934

Began Franchising: 1945

About Steak n Shake Enterprises Inc.

Gus Belt opened the first Steak n Shake in 1934 in the town of Normal, Illinois. Franchising began in 1945. The menu consists of the company's signature steakburgers (which Belt used to grind from round, sirloin and T-bone steaks right in front of his customers) and hand-dipped milk shakes, along with sandwiches, hot dogs, salads and sides.

Franchise Units

Year U.S. Canadian International Company Owned
2012 83 0 0 414
Where Seeking Franchisees: Franchisor is seeking new units internationally.

Startup Costs, Ongoing Fees and Financing

Total Investment: $672,000 - $1,835,000
Franchise Fee: $25,000 - $40,000
Ongoing Royalty Fee: 5.5%
Term of Franchise Agreement: 20 years, renewable
Financial Requirements
Net Worth: $1,500,000
Liquid Cash Available: $500,000
94% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 60 - 80. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Accounts Receivable

How This Franchise Supports Franchisees

Training: At franchisee's location: 1,152 hours. Manager training : 8 weeks & 24 weeks.
Ongoing Support: Meetings, Grand opening, Security/safety procedures, Field operations/evaluations
Marketing Support: Ad slicks, Regional advertising,

Franchise Ranking History

Franchise 500®: #150 (2013),