What Are My Startup Costs?

Low initial investment makes Great Steak your opportunity to bring the classic American cheesesteak to your community

Great Steak™ is a low-cost investment opportunity with high potential returns; the startup costs for traditional stores range from $146,600 to $511,050. Having sold millions of cheesesteaks since our founding in 1982, Great Steak has an experienced business model for entrepreneurs who are passionate about bringing the classic American cheesesteak experience to their communities. The franchise fee for your first traditional Great Steak franchise is $30,000, and the franchise fee for multiple units may be discounted if certain conditions and criteria are met.

Your total initial investment depends primarily upon the number of restaurants you build, their size, their configuration, their location, who develops the real estate for and/or constructs them, and the amount and terms of financing. For a much more detailed look at the costs and fees of the Great Steak cheesesteak franchise opportunity, please review the table below:

Traditional Franchise Model

(located within a shopping mall, strip center, or similar venue)

Type of ExpenditureAmountMethod of PaymentWhen DueTo whom Payment is to be Made
Initial Franchise Fee$14,000 - $30,000Lump SumAt Signing of Franchise AgreementUs
Lease Review Fee$0 - $1,250Lump SumAt Signing of Franchise AgreementUs
Rent/ Security Deposit (for 3 months) 2$12,000 - $30,000As IncurredPrior to OpeningLandlord(s)
Travel and Living Expenses (2 Persons) while training, not including salaries, if any, for you and your employees$2,500 - $5,000As IncurredDuring trainingAirlines, Hotels, Restaurants, Etc.
Real Estate(Note 2)(Note 2)(Note 2)(Note 2)
Architectural Fees 3$5,000 - $12,000As IncurredPrior to OpeningDesignated at Approved Architect
Leasehold Improvements$40,000 - $210,000 4As IncurredPrior to OpeningContractors and approved vendors 3, 4
Restaurant Equipment, Furniture, Small Wares, Interior Signage, and Menu Panels$40,000 - $140,000Lump SumPrior to OpeningApproved Vendors and Suppliers
Exterior Signage$9,000 - $12,000As IncurredPrior to OpeningApproved Sign Company
Computer Hardware, Software (POS System)$2,700 - $12,000Lump SumPrior to OpeningApproved Suppliers
PCI Compliance Costs$150 - $1,300 per yearAs billed by third party vendorAs billed by third party vendorApproved Vendor
Opening Inventory (Food and Paper) 6$2,500 - $7,000As IncurredPrior to OpeningApproved Supplieres
Business Insurance 7$1,000 - $5,000Lump SumPrior to OpeningInsurance Company/ Agent
Miscellaneous Opening Costs 8$4,750 - $17,500As IncurredAs IncurredApproved Suppliers, Utilities, Etc.
Grand Opening$5,000 - $10,000Lump SumPrior to OpeningSuppliers 9
Depository Account 10$3,000Lump Sum; Must be replenished on a regular basisAt signing of Franchise AgreementYour bank (We have the right to withdraw from this account)
Additional Funds - 3 month initial period$5,000 - $15,000 11As IncurredAs IncurredUs, Employees, Various Third Parties
TOTAL 10$146,600 - $511,050(Does not include real estate costs and/ or rent for the business location except for the initial security deposit.)

Non-Traditional Franchise Model

(Great Steak Restaurant)

Type of ExpenditureAmountMethod of PaymentWhen DueTo whom Payment is to be Made
Initial Franchise Fee 1$5,600 - $9,500 1Lump SumAt Signing of Franchise AgreementUs
Lease Review Fee$0 - $1,250Lump SumAt Signing of Franchise AgreementUs
Rent/ Security Deposit (for 3 months) 2$6,000 to $30,000As IncurredPrior to OpeningLandlord(s)
Travel and Living Expenses (2 Persons) while training, not including salaries, if any, for you and your employees$2,500 - $5,000As IncurredDuring TrainingAirlines, Hotels, Restaurants, Etc.
Real Estate(Note 2)(Note 2)(Note 2)(Note 2)
Architectural Fees 3$5,000 - $10,000As IncurredPrior to OpeningDesignated at Approved Architect
Leasehold Improvements$40,000 - $120,000 4As IncurredPrior to OpeningContractors and approved vendors 3, 4
Restaurant Equipment, Furniture, Small Wares, Interior Signage, and Menu Panels 5$40,000 - $75,000Lump SumPrior to OpeningApproved Vendors and Suppliers
Exterior Signage$9,000 - $12,000As IncurredPrior to OpeningApproved Sign Company
Computer Hardware, Software (POS System)$2,700 - $12,000Lump SumPrior to OpeningApproved Suppliers
PCI Compliance Costs$150 - $1,300 per yearAs billed by third party vendorAs billed by third party vendorApproved Vendor
Opening Inventory (Food and Paper) 6$2,500 - $7,000As IncurredPrior to OpeningApproved Supplieres
Business Insurance 7$1,000 - $5,000Lump SumPrior to OpeningInsurance Company/ Agent
Miscellaneous Opening Costs 8$4,750 - $17,500As IncurredAs IncurredApproved Suppliers, Utilities, Etc.
Grand Opening$2,000 - $6,000Lump SumPrior to OpeningSuppliers 9
Depository Account 10$3,000Lump Sum; Must be replenished on a regular basisAt signing of Franchise AgreementYour bank (We have the right to withdraw from this account)
Additional Funds - 3 month initial period$5,000 - $15,000 11As IncurredAs IncurredUs, Employees, Various Third Parties
TOTAL 12$129,200 - $329,550(Does not include real estate costs and/ or rent for the business location except for the initial security deposit.)

Miscellaneous Opening Costs

Miscellaneous Opening Costs
Estimated Typical Range
Pre-Opening Employee Training Payroll$1,000$3,000
Utility Deposits (e.g., gas, water)$1,000$3,500
Petty Cash (including cash register "opening banks")$250$1,000
Licenses and Permits (including any required deposits)$500$3,000
Miscellaneous Expenses (e.g., SERVSAFE training fees, uniforms, menus, security system, interior/ exterior landscaping, sound system, business telephone deposit [phone additional], banking pre-opening costs, accountants, lawyers)$2,000$7,000
Estimated total$4,750$17,200

Request Franchise Information

Want to learn more about opening your own Great Steak Franchise? Fill out this form to get started:
  • This field is for validation purposes and should be left unchanged.