Great Steak Franchise FAQ
Answers to common questions about the Great Steak franchise opportunity
How much does a Great Steak franchise cost?
Initial investment for traditional stores ranges from $146,600 to $511,050. The franchise fee for your first traditional Great Steak™ franchise is $30,000, and the franchise fee for multiple units may be discounted based on certain conditions and criteria.
For a more detailed look at cost and investment information, please visit the What Are My Startup Costs? page.
What are the financial requirements to qualify for a Great Steak?
To purchase a Great Steak franchise, you will need a credit score of 680, net worth of $250,000 and liquid capital of $100,000.
What experience do I need?
While you do not need restaurant experience to franchise with Great Steak, we recommend that you have a proven track record of managerial experience, an entrepreneurial spirit and the drive to follow our proven business model as you bring the classic American cheesesteak experience to your community.
Do I have to make my own goods?
Yes! Part of the appeal of the Great Steak brand is that we create our cheesesteaks right in front of guests. Great Steak franchise owners will spend 40 hours training in one of our restaurants, mastering the art of the cheesesteak.
I’ve never built a store before. How does this work?
The Great Steak team will guide you through all phases of the site selection, lease negotiation, construction, training, grand opening and ongoing processes for marketing and operations.
How large a space do I need for an in-line Great Steak restaurant?
A Great Steak in-line store has a small footprint. This makes securing the perfect location for your Great Steak franchise easier. It also makes for a store that is easy to manage and maintain.
Do you help negotiate leases for mall locations?
We have relationships with several of the biggest malls in the nation, and we will help you through the process of finding your perfect Great Steak location.
How many employees do I need?
We recommend that you employ a staff of two to four people, whom you will extensively train to maintain the quality of our products, as well as to ensure that your customers have positive experiences in your stores.
Do you offer training and support?
Great Steak has developed an intensive training platform that includes how to manage every aspect of your business, including the most important part: correctly preparing and serving the Great Steak products to your customers. We also train you on how to manage your inventory, operate your point-of-sale system and grow your business. We provide continual reviews to help you work toward financial and performance goals and ongoing coaching to help you market your business to your community.