According to the Franchise Business Journal, the typical franchise partner will earn $161,079 in 2020, with some on course to earn more than $300,000 in their first year alone. We met with Press McDowell, a franchise partner in St. Louis, Missouri, who related his experience, saying, ″I earned in two months what I earned in a year at my prior work.″
How much does a Steak’n Shake franchise cost?
With a franchise fee of up to $40,000 and a total initial investment ranging from $464,000 to $2,706,000, Steak ‘n Shake is a lucrative business opportunity.
How much does it cost to open a steakhouse franchise?
- Steak ‘n Shake franchises are available for as little as $25,000 in franchise fees, with a total initial investment ranging from $1,476,250 to $2,420,500 in total.
- Royalty Fee: 5.5 percent of the total revenue.
- A number of expenses are included in the initial cost of a franchise — Unlock this franchise to have a deeper understanding of the expenditures associated with it, including as training and territory charges.
Why did steak and Shake Go Out of business?
Several experts believe that the chain’s falling popularity may be attributed mostly to a reduction in the quality of its service and cuisine, which began in 2008. This occurred the same year that the company’s new owner, Biglari Holdings Inc., took control and made significant modifications to Steak ‘n Shake’s business model.
How much did Steak n Shake lose in 2008?
Following a 7.1 percent drop in same-store sales in 2008, the brand has seen seven consecutive years of positive growth, including a 7.5 percent improvement in 2010 that built on a 4.1 percent increase the year before. Until the current management team took control on August 5, 2008, Steak n Shake was losing $100,000 per day, according to company records.