Not Ranked

Initial Investment

LOW: $1,700,000
HIGH: $3,300,000

Change in Units

-13.6% -8 UNITS (1 Year)
+1.7% +1 UNITS (3 Years)

Promoted Opportunities

Company Profile

Founded

1974

Franchising Since

1997 (19 Years)

Corporate Address

101 Chestnut St. Sharon, PA 16146

CEO

Greg Lippert

About Quaker Steak & Lube

In 1974, with gas prices rising and gas stations closing around the country, George "Jig" Warren III and Gary "Moe" Meszaros sought to preserve the culture of those old gas stations by opening Quaker Steak & Lube, a "cook-your-own-steak" restaurant and decorating the restaurant with old muscle cars.

The company began franchising in 1997, and new locations continue to use vintage cars in their decor. The menu, meanwhile, has expanded beyond steaks to include chicken wings, hamburgers, sandwiches, salads, ribs, appetizers, desserts and more.

Financials

Financial Requirements

Initial Investment

$1,700,000 - $3,300,000

Net-worth Requirement

$3,000,000

Liquid Cash Requirement

$500,000

Ongoing Fees

Initial Franchise Fee

$40,000

Ongoing Royalty Fee

5%

Ad Royalty Fee

3%

Franchise 500® Rank History

  • 2011 - 286
  • 2013 - 324
  • 2014 - 329
  • 2015 - 314

* Not all years were ranked

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units throughout the U.S.

Operations & Franchisor Support

Training at headquarters: 8 weeks

Ongoing Support
Purchasing Co-ops
Newsletter
Meetings
Grand Opening
Internet
Security
Field Operations

Marketing Support
Co-op Advertising
Regional Media
National Media

Number of employees required to run: 100 - 125

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Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: July 2nd, 2015

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