#150
At a Glance
Products & Services: Steakburgers & milkshakes
Number of Locations: 497
Total Investment: $672K - 1.84M
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
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
Operations
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 |
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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),
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