What Are My Startup Costs?

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

Great Steak™ is a low-cost investment opportunity with high potential returns; the Great Steak franchise costs for traditional stores range from $150,900 to $519,050. 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 cost is $30,000, and the franchise fee for multiple units may be discounted if certain conditions and criteria are met.

Your total initial investment Great Steak franchise costs depend 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 EXPENDITURE AMOUNT METHOD OF PAYMENT WHEN DUE TO WHOM PAYMENT IS TO BE MADE
Initial Franchise Fee $14,000 - $30,000 Lump Sum At Signing of Franchise Agreement Us
Lease Review Fee $0 - $1,250 Lump Sum At Signing of Franchise Agreement Us
Rent/ Security Deposit (for 3 months) 2 $12,000 - $30,000 As Incurred Prior to Opening Landlord(s)
Travel and Living Expenses (2 Persons) while training, not including salaries, if any, for you and your employees $2,500 - $5,000 As Incurred During training Airlines, Hotels, Restaurants, Etc.
Real Estate (Note 2) (Note 2) (Note 2) (Note 2)
Architectural Fees 3 $5,000 - $12,000 As Incurred Prior to Opening Designated at Approved Architect
Leasehold Improvements $40,000 - $210,000 4 As Incurred Prior to Opening Contractors and approved vendors 3, 4
Restaurant Equipment, Furniture, Small Wares, Interior Signage, and Menu Panels $40,000 - $140,000 Lump Sum Prior to Opening Approved Vendors and Suppliers
Exterior Signage $9,000 - $12,000 As Incurred Prior to Opening Approved Sign Company
Computer Hardware, Software (POS System) $7,000 - $20,000 Lump Sum Prior to Opening Approved Suppliers
PCI Compliance Costs $150 - $1,300 per year As billed by third party vendor As billed by third party vendor Approved Vendor
Opening Inventory (Food and Paper) 6 $2,500 - $7,000 As Incurred Prior to Opening Approved Supplieres
Business Insurance 7 $1,000 - $5,000 Lump Sum Prior to Opening Insurance Company/ Agent
Miscellaneous Opening Costs 8 $4,750 - $17,500 As Incurred As Incurred Approved Suppliers, Utilities, Etc.
Grand Opening $5,000 - $10,000 Lump Sum Prior to Opening Suppliers 9
Depository Account 10 $3,000 Lump Sum; Must be replenished on a regular basis At signing of Franchise Agreement Your bank (We have the right to withdraw from this account)
Additional Funds - 3 month initial period $5,000 - $15,000 11 As Incurred As Incurred Us, Employees, Various Third Parties
TOTAL 10 $150,900 - $519,050 (Does not include real estate costs and/ or rent for the business location except for the initial security deposit.) TOTAL 10 $150,900 - $519,050

Non-Traditional Franchise Model

TYPE OF EXPENDITURE AMOUNT METHOD OF PAYMENT WHEN DUE TO WHOM PAYMENT IS TO BE MADE
Initial Franchise Fee 1 $5,600 - $9,500 1 Lump Sum At Signing of Franchise Agreement Us
Lease Review Fee $0 - $1,250 Lump Sum At Signing of Franchise Agreement Us
Rent/ Security Deposit (for 3 months) 2 $6,000 to $30,000 As Incurred Prior to Opening Landlord(s)
Travel and Living Expenses (2 Persons) while training, not including salaries, if any, for you and your employees $2,500 - $5,000 As Incurred During Training Airlines, Hotels, Restaurants, Etc.
Real Estate (Note 2) (Note 2) (Note 2) (Note 2)
Architectural Fees 3 $5,000 - $10,000 As Incurred Prior to Opening Designated at Approved Architect
Leasehold Improvements $40,000 - $120,000 4 As Incurred Prior to Opening Contractors and approved vendors 3, 4
Restaurant Equipment, Furniture, Small Wares, Interior Signage, and Menu Panels 5 $40,000 - $75,000 Lump Sum Prior to Opening Approved Vendors and Suppliers
Exterior Signage $9,000 - $12,000 As Incurred Prior to Opening Approved Sign Company
Computer Hardware, Software (POS System) $7,000 - $20,000 Lump Sum Prior to Opening Approved Suppliers
PCI Compliance Costs $150 - $1,300 per year As billed by third party vendor As billed by third party vendor Approved Vendor
Opening Inventory (Food and Paper) 6 $2,500 - $7,000 As Incurred Prior to Opening Approved Supplieres
Business Insurance 7 $1,000 - $5,000 Lump Sum Prior to Opening Insurance Company/ Agent
Miscellaneous Opening Costs 8 $4,750 - $17,500 As Incurred As Incurred Approved Suppliers, Utilities, Etc.
Grand Opening $2,000 - $6,000 Lump Sum Prior to Opening Suppliers 9
Depository Account 10 $3,000 Lump Sum; Must be replenished on a regular basis At signing of Franchise Agreement Your bank (We have the right to withdraw from this account)
Additional Funds - 3 month initial period $5,000 - $15,000 11 As Incurred As Incurred Us, Employees, Various Third Parties
TOTAL 12 $133,500 - $337,550 (Does not include real estate costs and/ or rent for the business location except for the initial security deposit.) TOTAL 12 $133,500 - $337,550

Miscellaneous Opening Great Steak Franchise Costs

MISCELLANEOUS OPENING COSTS
ESTIMATED TYPICAL RANGE ESTIMATED TYPICAL RANGE
Pre-Opening Employee Training Payroll $1,000
Utility Deposits (e.g., gas, water) $1,000
Petty Cash (including cash register "opening banks") $250
Licenses and Permits (including any required deposits) $500
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
Estimated total $4,750

Want to Own a Great Steak franchise? CALL 480-771-2473

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