The Steak Escape

Founded: 1982 Franchising since: 1983
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.

222 Neilston St. Columbus, Ohio 43215

Phone: (614)224-0300

Franchisor is a privately-held company with 35 employee(s); 3 employee(s) in franchise department.

Franchise Growth

Year	U.S. Franchises	Canadian Franchises	Foreign Franchises	Company Owned
2009	93	0	5	5
2008	110	0	3	6
2007	113	0	3	10
2006	132	0	0	0
2005	148	3	1	9

Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Worldwide

Exclusive territories available.

Total investment: $190.2K-499.7K Franchise fee: $25K

Ongoing royalty fee: 6% Term of agreement: 20 years, renewable

Type of Financing Available

	In-House	Third Party
Franchise Fee	No	No
Startup Costs	No	No
Equipment	No	No
Inventory	No	No
Accounts Receivable	No	No
Payroll	No	No

Qualifications
Net worth requirement: $350K
Cash liquidity requirement: $100K
Business Experience:

• General business experience

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)

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

Franchise 500® rank:
#384 (2009); #490 (2008); #468 (2007); #458 (2006); #366 (2005);