Charleys Philly Steaks
#110

Initial Investment

LOW: $162,850
HIGH: $475,923

Change in Units

+1.7% +9 UNITS (1 Year)
+7.1% +38 UNITS (3 Years)

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Company Profile

Founded

1986

Franchising Since

1991 (25 Years)

Corporate Address

2500 Farmers Dr., #140 Columbus, OH 43235

CEO

Charley Shin

Parent Company

Gosh Enterprises Inc.

About Charleys Philly Steaks

Visits to his relatives near Philadelphia inspired Charley Shin's entrepreneurial spirit, and he saw his future in cheesesteak sandwiches. In 1986, Shin opened his first Charley's Grilled Subs at Ohio State University. The then-22-year-old's restaurant became an instant hit with professors and students.

Since then Shin has expanded to locations nationwide. In 1999, he was named Entrepreneur of the Year by Ernst & Young.

Financials

Financial Requirements

Initial Investment

$162,850 - $475,923

Net-worth Requirement

$300,000

Liquid Cash Requirement

$100,000

Ongoing Fees

Initial Franchise Fee

$24,500

Ongoing Royalty Fee

6%

Ad Royalty Fee

0.25%

Financing Options

Charleys Philly Steaks has relationships with third-party sources which offer financing to cover the following: 
startup costs, equipment, inventory, accounts receivable, payroll

Franchise 500® Rank History

Highest Rank: 91

Lowest Rank: 153

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units in the following regions/states:
See List

Operations & Franchisor Support

Training Onsite: 7 days

Training at headquarters: 3 weeks

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

Marketing Support
Ad Slicks

Absentee Ownership Allowed

Number of employees required to run: 20

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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: June 10th, 2016

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