Steak n Shake Franchise Partner Program
Franchise research report · reviewed 2026 disclosure data
Researching Steak n Shake Franchise Partner Program franchise opportunities? Every figure below is cited to the FDD.
Steak n Shake's Franchise Partner Program offers a unique opportunity to operate the iconic burger and milkshake brand through a conversion-focused franchise mo
Headline figures
Steak n Shake Franchise Partner Program quick facts
- How much does it cost to open a Steak n Shake Franchise Partner Program franchise?
- The Steak n Shake Franchise Partner Program Franchise Disclosure Document reports an estimated initial investment of $259,336 (2026 FDD, Item 7, PDF p. 26). This is the franchisor's disclosed estimate, not a quote. Details
- What is the Steak n Shake Franchise Partner Program initial franchise fee?
- The disclosed initial franchise fee for a standard single unit is $10,000 (2026 FDD, Item 5, PDF p. 16). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
- Does Steak n Shake Franchise Partner Program disclose financial performance (Item 19)?
- Yes. The Steak n Shake Franchise Partner Program FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 57). Figures apply only to the locations and period each one covers. Details
- Is Steak n Shake Franchise Partner Program a good franchise to buy?
- Franopolis does not rate or recommend franchises. From the reviewed FDD: Item 19 includes financial performance figures; check which locations and period they cover; Item 20 lists outlet openings, closures and transfers; Item 6 includes a brand or advertising fund contribution on top of royalty; Item 20 also lists current and former franchisees you can contact. Review the full FDD with a franchise attorney and accountant before deciding.
From reviewed FDD figures only. Not a recommendation or projection.
What the disclosures show
- 1Opening costs are estimated at $259,336 in the 2026 FDD (Item 7); several initial fee options apply.
- 2Item 19 covers 2 separate groups: other measures for 155 Franchise Partners locations; other measures for Franchise Partners locations. They are not combined.
From reviewed FDD figures only. Not a recommendation or projection.
Steak n Shake Franchise Partner Program head-to-head
Closest peers in the same subcategory, side by side from reviewed FDD figures. Not a ranking or recommendation.
Costs · Items 5–7
What does it cost to open?
Estimated opening costs and the fees payable to the franchisor.
Startup Investment — Item 7
Total estimated initial investment
2026 FDD · Item 7 · PDF p. 26
Standard single-unit franchise fee
2026 FDD · Item 5 · PDF p. 16
Discounted and multi-unit options are separate; see all fees.
Ongoing Fees — Item 6
Selected recurring charges; payment bases and conditions remain attached to each fee.
15 reported fees, each with its payment basis, are listed below; they haven't been sorted into recurring, initial and occasional groups yet.
Financial Performance — Item 19
What results are disclosed—and for which locations?
Two separate populations, not a revenue-and-profit comparison. Revenue is not owner income.
155 locations
Other measures · 155 locations
- Who is counted
- 155 full-year Franchise Partners
- Excluded
- 24partnersnotoperatingfull2025excluded
- Method
- Unaudited AnnualEarnings includesretainedAdditionalProfit+MinimumProfit; no allrestaurantrevenue/profit aggregation
These groups are never combined.
Outlet Changes — Item 20
How has the outlet count changed?
Coverage not stated in the reviewed record · counts as of year end of each year.
2026 FDD · Item 20 ·
Questions to investigate
Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.
For the franchisor
Which line items in the 2026 Item 7 estimate ($259,336) vary most by market, and why?
Which initial fee option would apply to my situation, and what conditions or discounts affect it?
Which locations are included in the Item 19 figures, and which were excluded?
Is a territory available in my area, and how is it defined in my agreement?
For current and former owners
How did your actual startup costs and timeline compare with the Item 7 estimate?
How many hours a week do you work in the business, and in what role?
How do your results compare with the Item 19 figures, and what explains the difference?
What support from the franchisor has been most and least useful?
For your advisors
Ask a franchise attorney to review the territory, renewal, transfer and termination terms.
Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.
Sources & vintage history
Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.
Citations (2026 FDD)
- [1]Estimated initial investment — Item 7 · PDF p. 26
- [2]Standard initial franchise fee — Item 5 · PDF p. 16
- [3]Item 19 — Locations counted not stated in the reviewed record — 155 full-year Franchise Partners · PDF p. 57
- [4]Item 19 — Locations counted not stated in the reviewed record — Franchise Partners overlastfiveyears; sample notspecified · PDF p. 58
"PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page. Source document: FDD
Territory & operations
281 addresses in Franopolis's imported location list. Coverage may differ from Item 20 outlet counts.
These are contract disclosures, not confirmation that any territory is currently available.
Legal & agreement
Franchisor financial statements
| Fiscal year | Measure | Reported value |
|---|---|---|
| 2025 | operating lease assets | $34,936 |
| 2025 | note receivable, due from affiliateMore than one value recorded for this year — open the FDD source before comparing | $80,000 |
| 2025 | assets held for sale | $559 |
| 2025 | current portion of lease liabilities | $12,741 |
| 2025 | selling, general and administrative | $62,755 |
| 2025 | deferred taxes | $5,293 |
| 2025 | total liabilities and shareholder's equity | $416,618 |
| 2025 | total shareholder’s equity | $28,245 |
| 2025 | net earnings | $12,632 |
| 2025 | changes in other assets | -$2,498 |
| 2025 | changes in accounts payable and accrued expenses | $10,175 |
| 2025 | provision for deferred income taxes | -$335 |
These figures describe the franchisor company, not individual franchise locations.
SBA-backed loans to franchisees
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Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.
Related research
Brands in the same subcategory first, then the wider industry, ordered by shared business format, overlapping investment range, Item 20 outlet count and search interest. This is not a ranking or recommendation.
Head-to-head comparisons
At a glance
Business history
Not reviewed
Owner participation
Not reviewed
Territory language
Litigation disclosure
Not reviewed
Bankruptcy disclosure
Not reviewed
Agreement term
Not reviewed
Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.
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