Steak ‘N Shake Franchise

Steak ‘N Shake is among the most popular franchises in the United States, offering delicious burgers and shakes for over 90 years. Starting a Steak ‘N Shake franchise can be very profitable if done correctly, as it provides good returns on investment and has a large following of loyal customers.

If you’re thinking about starting your own Steak ‘N Shake franchise, this article will provide all the information you need to make an informed decision.

We’ll discuss everything from Franchise Fees, Profit, Total Investment, and Training Requirements to Restrictions, Renewal Terms, and Return on Investment so that you have all the facts necessary to make an educated decision about whether or not this franchise is right for you.

So read on to learn more about becoming a successful Steak ‘N Shake franchise owner!

Steak ‘N Shake Franchise
Steak ‘N Shake Franchise

About the History Of Steak N Shake 

Steak ‘n Shake is an American casual diner-style restaurant chain concentrated in the Midwestern and Southern United States. It was founded by Gus Belt in Normal, Illinois, in February 1934. The concept originated with Belt’s idea to blend fast food speed with a full-service restaurant’s service. He opened his first Steak ‘n Shake on March 17, 1934, in Normal, Illinois.

By 1941 all 12 locations were open 24 hours a day and had become renowned for their steakburgers and hand-dipped milkshakes. By 1950, there were 60 restaurants across the Midwest, and the company began to expand beyond its regional boundaries into Texas, Florida, Ohio, and Georgia.

In 1956, the company began franchising; by 1957, there were over 100 locations. In 1967, the Lehman Brothers purchased Steak’ n Shake, and in 1969 they moved the headquarters to Indianapolis.

In 1977, Steak ‘n Shake introduced its first Drive-Thru location in Fairfax, Virginia. The 1980s saw the chain’s rapid expansion, with new restaurants opening up around the country, including California and New York. In 1989, Hardee Foods acquired Steak ‘n Shake for $327 million.

In 2001, Biglari Holdings Inc., an investment firm led by Sardar Biglari, purchased Steak ‘n Shake out of bankruptcy for $45 million. Since then, the chain has expanded, with over 500 locations in 32 states as of 2020.

Today, Steak ‘n Shake continues to be known for its steakburgers, hand-dipped milkshakes, and classic diner atmosphere.  The chain has become a favorite spot for families and friends looking for a hearty meal at an affordable price.


Steak ‘N Shake Franchise Model 

Investment$1,476,250 to $2,420,500.
Franchise fee $25,000
Royalty fee 5.5%
Area RequirementN/A
Total Outlets600

Advantages Of Owning Steak N Shake 

By achieving the American Dream, they respect their heritage as a classic American brand.

At Steak ‘n Shake, they believe that everyone deserves a chance to live the American dream.

On the other hand, those with the potential frequently lack access to the finance required to accomplish their goals.

That reality challenges and changes. We offer you the chance to become a business owner without making a significant financial investment. The opportunity is as follows: 

  • With a $10,000 investment, you can become a Franchise Partner.
  • 50% of the profits from the restaurant are yours to keep.
  • Earning potential is limitless.

Steak N Shake Comparison

CompanySteak N Shake Five Guys Burgers
Founded In19341986
Initial Investment$1,476,250 to $2,420,500$306k to $641k
Franchise-Fee$25,000$25,000
Total Outlet6001550
Annual Revenue$263.14 million$1.711 Billion

Frequently Asked Questions 

What is the annual revenue of a Steak 'n Shake franchise?

The corporation has an annual revenue of $939,990,000 on average.

Who now owns Steak & Shake?

We’re continuing Steak n Shake’s 85-year history of offering the country’s greatest, freshest, and tastiest burgers and shakes. Biglari Holdings Inc. owns Steak ‘n Shake Operations, Inc., a wholly-owned subsidiary.

What is the total number of franchise locations?

There is 183 franchised Steak ‘n Shake sites in the United States as per the 2020 Franchise Disclosure Document.

Does Steak' N Shake Offer a Franchise?

Steak ‘n Shake is a quick-serve restaurant serving premium products, and yes, it offers a variety of franchise opportunities to entrepreneurs.

How much does a Steak' N Shake Franchise Cost?

To buy a Steak’ n Shake franchise, you’ll require an investment of $1,476,250-$2,420,500 and $25,000 as an initial franchise fee.

Who is the owner of Steak N Shake?

The owner of Steak N Shake is Biglari Holdings Inc. The company was founded by Sardar Biglari in 2006 and is based in San Antonio, Texas. The parent company holds a majority stake in Steak N Shake, making it the primary owner. Before its acquisition by Biglari Holdings, Steak N Shake had been owned by various companies since its founding in 1934.

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