Franchise Partner Program vs Steak N Shake
Side-by-side figures from each brand's latest FDD Item 20 as we extracted them; verdicts are our opinion under the published methodology, and the source filing and year are on each brand's profile. Green marks the more favorable metric (lower for distress), not a recommendation to buy.
Units · latest run
-8.2% (2021–2023)
Net unit change
-24.6% (2021–2023)
Weak
Exit quality
Weak
Strong
Transfer / churn
Strong
No SBA loans
SBA losses vs same-year loans
0.8× expected (7 of 58)
—
Distress
—
$10,000
Franchise fee
$25,000
$188K–$838K
Investment range
$156K–$2.3M
Not disclosed
Royalty
5%
Disclosed
Earnings (Item 19)
Disclosed
Franchise Partner Program
Steak N Shake
Before you sign anythingfree · 30 min · no commission
A broker is usually paid by the franchisor to place you. I'm paid only by you, never by a franchisor you're considering — and the job is pressure-testing the numbers, including talking you out of a bad deal.
Don Drummond — internal audit and controls background · what I charge