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Great Steak
As the tagline states, Great Steak serves “America’s Premier Cheesesteak.” For more than 25 years, Great Steak has carried on the tradition of this hearty, affordable and all-American meal. Always cooked to order on an exhibition-style grill, Great Steak cheesesteaks are made with sirloin steak and topped with the customer’s choice of cheese and toppings and served on a freshly baked bun.The menu at Great Steak has grown from a single Cheesesteak sandwich to 14 core entrées, including the popular Chicken Philly and Super Steak sandwiches. Also on the menu are Great Steak’s famous fries—large, golden brown and overflowing from their signature cups. The Great Steak concept appeals to both men and women between the ages of 18-45.
Franchisor Background
Year Established:
1982
Franchising Since:
1985
Operating Units:
Franchised Units:
160
99.4%
Company-Owned Units:
1
0.6%
______
_____
Total Operating Units:
161
100%
Geographic Distribution:
U.S.:
234
96.7%
In 31 States
Canada:
0
0%
In 0 Canadian Provinces
International:
8
3.3%
In 0 Foreign Countries
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Total:
242
100%
North America:
States/Provinces with the largest number of operating units:
Density
Units
1. California
40
2. Illinois
27
3. Ohio
20
Registered in Following Registration States:
California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District Of Columbia
Financial Requirements
Investment:
Minimum Net Worth:
$320K
Cash Investment:
$75-150K
Total Investment:
$153-456K
Average Total Investment:
$305K
Fees:
Initial Franchise Fee:
$30K
Average Franchise Fee:
$30K
On-Going Royalty:
6%
Average Royalty:
6%
Advertising Fee:
2%
Average Number of Employees:
2 Full-time, 12-15 Part-time
Space Needs (in square footage):
600-2,000
Preferred Sites:
Free-standing Building, Storefront, Strip Center, Regional Mall
We employ a Korean consultant in California to help us reach the Asian community. We do not "change the rules" for any nationality and welcome all that are financially qualified. While not considered a minority, we do have over 30 franchisees from the Middle East.
