Great Steak Franchise

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Detailed Information

Capital Required
$133,500 - $519,050

Liquid Capital
$150,000

Net Worth
$250,000

Financing Assistance
Available Via Third Party

Training and Support
Available

Initial Franchise Fee
$30,000

CEO Name
Eric Lefebvre

Existing Units
61

 

Overview

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.

Why Choose Us?

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.

History

Great Steak was founded in 1982 by two brothers hailing from Ohio. On travels to Philadelphia, they experienced one of the city’s delights, its cheesesteaks. Back in Ohio, they established the Great Steak & Potato Company, and the company is now called Great Steak.

Great Steak is owned by Kahala Franchising, an Arizona company founded in 2008. It oversees other brands such as Cold Stone Creamery, Taco Time, Baja Fresh, Thai Express and Sweet Frog. In turn, Kahala Franchising has a parent company, Kahala Brands, which has its own parent company, MTY Franchising USA.

Training And Support

Comprehensive training is given in varied areas such as cheesesteak prep and inventory management.
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