Steak N Shake Franchise Startup Cost, Profit & Opportunities
Are you seeking a top restaurant franchise opportunity to invest in?
The Steak n Shake franchise may just be the perfect opportunity for you. Steak N Shake franchise offers equal opportunity for investors seeking to invest in low-cost, yet highly viable restaurant businesses.
If you’re ready to learn about this franchise opportunity, we’re ever willing to show you all that needs to be known.
Plus, we’ll not only be giving you the basic information about the Steak n Shake franchise but also how to proceed for those seeking to own one.
About Steak N Shake Franchise
Steak N Shake franchise has been in the business of offering a wide variety of quality menu items since 1934.
Among its major categories are steakburgers, fries, and milkshakes. These are served to over 370,000 customers daily across its multiple franchise outlets across America.
It poses a unique franchise opportunity for persons seeking to be part of its success story. Owned by Biglari Holdings, it started from humble beginnings and gradually warmed its way into the heart of its clients.
As a testament to that fact, there is over 550 Steak ‘n Shake restaurants scattered in about 28 states across the United States and growing.
With this brief introduction out of the way, let’s consider the ideal Steak ‘n Shake candidate.
Who’s the Ideal Steak ‘N Shake Franchisee?
This franchisor is seeking to enter into a business partnership with persons having no additional business venture.
This is to allow for minimal conflict of interest. What more? If you’re capable of operating a business whereby there’s no absentee ownership, then this opportunity is for you.
Investors drawn to people-businesses will find this franchise opportunity interesting. This is because Steak ‘n Shake allows you to meet the yearnings of its growing clientele.
Plus, there’s a culture of high performance and superior service you’ll be introduced to.
What You Get As A Steak N Shake Franchisee
Every prospective franchisee is first interested in what they can get. In other words, a good franchise opportunity should be able to offer opportunities for its investors.
At Steak ‘n Shake, you get to become its franchisee with a minimum investment of $10,000.
As part of its effort to make its business model attractive, Steak ‘n Shake allows franchisees to earn about 50% of restaurant profits. This includes an unlimited earning potential for investors seeking to put in the work necessary.
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Support
Steak ‘n Shake offers a wide range of support services to all its franchisees.
These are all aimed at helping them succeed. Before your door opens for business, you’re armed with all the knowledge necessary to operate the business.
Asides from the initial training, there’s continued support in the form of on-the-job extensive training. This is targeted at bringing franchisees up to speed with innovations and customer service tips.
Support also covers administrative services such as payroll and accounting among others. Of great importance to your success is access to its turnkey system or business model.
What more? Steak ‘n Shake franchise has a powerful marketing support system to help advertise the business.
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Training Duration
Before a Steak ‘n Shake franchisee is considered qualified to handle its franchise operation, such a person must have undergone about 6 months of on-the-job training. During this time, every aspect of the business is taught.
This includes on-site and classroom training.
Responsibilities
In terms of responsibilities, Steak n Shake franchisees must be willing to serve to improve the lives of people.
Also, clients streaming through its doors and premises must be served the best quality shakes and burgers. Service quality matters and franchisees will be taught everything about that.
As part of the ownership responsibilities, you get to oversee all operational procedures. Its restaurants are operated on a 24-hour basis and include a drive-thru, third-party delivery, and takeout service.
With such an opportunity, your hands are full as you need to be overseeing multiple areas of operation.
How To Franchise Steak N Shake
If you’re convinced that this restaurant franchise is the perfect fit or just what you need, you’ll need to begin the application process. The application starts by filling its online application form.
Here, detailed personal questions relating to your capability are asked.
Asides from basic details such as your name and contact details, you’ll need to answer questions on legal work permits, and commitment to operating the franchise as a sole business. In terms of funds necessary, a minimum requirement of $10,000 is necessary.
You’ll be asked if you have such funds set aside.
Financial details on bankruptcy filings are also required. Steak ‘n Shake requires its franchisees to meet a minimum work experience threshold that’s appreciable. It’s normally between 1 to 5 years or more. Now, you’ll have to pick your most preferred and preferred geographic area of interest.
This refers to the area you wish to have your Steak ‘n Shake franchise opened.
Apart from the states listed in the drop-down menu, you get to further narrow down to the specific city you wish to open up the business in. This is necessary to determine the availability of such franchise opportunities.
If it isn’t available in your preferred location, it will be communicated to you.
A possible replacement will be given which is probably closer to the area chosen. Do you have any skills especially those related to restaurant franchise operation? You’ll need to supply details about such skills.
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Franchise Offering
It’s important to note that filling its online form doesn’t automatically qualify you for the franchise opportunity. After going through the franchise application, the franchisor gets to decide if a franchisee is eligible or not.
Eligible franchisees get the offer through the delivery of its Franchise Disclosure Document (FDD).
This contains detailed requirements about the franchise. The presentation of the FDD is followed by series of meetings and training designed to transfer the skills necessary to open your first store.
The Steak ‘n Shake franchise is a viable business opportunity you can take advantage of.
However, you’ll need to know if it suits your needs For example, the idea of operating a single franchise might sound uncomfortable for some but welcoming to others.
