Great Steak Franchise

Great Steak Franchise

Great Steak franchises serve authentic Philly cheesesteaks, which may be an appetizing choice for owners wanting something other than traditional fast food.

Restaurant and Food
Min. Liquid Capital

$150,000

Min. Franchise Fee

$30,000

Total Number of Units

24

About Great Steak

Great Steak offers American comfort food such as cheesesteaks, baked potatoes, French fries and chicken Phillys. All cheesesteaks are grilled to order and are made of premium sirloin.

Great Steak’s franchise locations fall into two groups: traditional and nontraditional. Traditional locations cost more to open. They serve full menus and include in-line restaurants and those in mall food courts. Nontraditional locations are in places such as convenience stores, retail stores, cafeterias, casinos and entertainment venues. These locations have a limited menu and cost significantly less to open.

Great Steak’s original Philly cheesesteak features just two toppings: onions and Philly cheese. Meanwhile, the Chicagoland cheesesteak, touted as having it all, boasts a long topping list with Philly cheese, provolone and white American cheese, grilled onions, green peppers and mushrooms. Other cheesesteak varieties and menu items, including breakfast and a kids menu, are available as well.

Franchising Since

1991 (34 years)

Company Units

-

Average Unit Revenue

$579,903

Franchise Fees

Min. Franchise Fee

$30,000
$24,000 Veteran's Fee

Royalty Fee

6.0%
Gross Sales

Ad Fund Fee

1.0%
Gross Sales

Why Great Steak?

Cheesesteaks and baked potatoes offer different fare from fast food restaurants serving hamburgers, chicken sandwiches and Mexican. Other cheesesteak franchises exist, but Great Steak is the most well-known. The company is proud of keeping its menu compact while still allowing for customization. One of its key demographics is Millennials, who enjoy being able to get a meal for about $8 and having the steak cooked in front of them. The food at Great Steak is high quality and authentic, appealing both to everyday consumers and to cheesesteak purists.

Due to its chain of corporate ownership, Great Steak has solid backing and management teams that know what they’re doing. Franchisees undergo extensive training by knowledgeable people, and a lot of support is available. As one owner, Moe Elhindi, says on the Great Steak franchising website, “Great Steak has made managing the inventory, the training, and maintaining the quality of the product very straightforward.” Veterans may especially like the 20 percent discount on franchise fees. In addition, Great Steak gives all franchise owners discounts on the franchise fee for their second and third stores.

Ideal Candidate

Ideal candidates have the ability to follow the company’s business model, an entrepreneurial drive and a good track record in management. Restaurant experience is not necessary but can be extremely helpful.

Initial Investment

$133,500 - $519,050

Min. Liquid Capital

$150,000

Net Worth Required

$250,000

Benefits

  • Training and Support
  • Financing Available
  • Multi Units
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