Steak n Shake By Biglari

Franchise Information

Analyzed filing: ND · File #223591

FDD issued: Apr 25, 2025

FDD Issued: Apr 25, 2025

Extracted: May 4, 2026

Analyzed

Franchisor Details

Name: Steak n Shake Enterprises, Inc.

Parent: Steak n Shake Inc.

Address: 107 South Pennsylvania St., Suite 400, Indianapolis, Indiana 46204

Phone: (317) 633-4100

Website: http://www.steaknshakefranchise.com

Franchising Since: 1991

Industry & Qualifications

Industry

Food & Beverage

Veteran Discount

20.0%

Franchise Fee

$25,000

Royalty

5.0%

Ad Fund: 1.0%

Total Investment

$316K - $2.70M

Initial Term

10 years

Renewable

Outlet Information

Total Outlets

406

Franchised

266

Company-Owned

140

Opened (Last Year)

Closed (Last Year)

-46

Churn Breakdown (Last Year)

Terminations

Non-Renewals

Ceased Ops

Transfers

Reacquired

Exclusive Territory

Yes

Exclusive territory may be granted under Area Development Agreement; territory f...

Item 19 (Financial Performance)

Disclosed

Data from Item 19 for Total Franchise Restaurants (214 units) for FY24. AUV is a...

Financial Performance (Item 19)

Avg Unit Volume

$1,815,588

Median

$1,729,213

Highest

$6,319,923

Lowest

$744,674

Sample Size

214 units

Unit Economics

EBITDA

20.6%

Labor Cost

27.0%

COGS

29.5%

Legal History

Litigation: Yes

Pending: SAS MONK AND KAMASI SARL VS. STEAK N SHAKE INTERNATIONAL, S.A.R.L. (settled April 2025). Co...

Bankruptcy: None

Number	File name	Source State	Filing Date	Actions
223591	510244_Franchise__Steak_n_Shake_Enterprises__In_North Dakota_223591.pdf Canonical 2025 analysis · newest filing	ND	Apr 25, 2025 FDD issue date	Restricted
638806	638806_steak-n-shake-enterprises--inc-.pdf Alternate source copy	WI	Apr 25, 2025 FDD issue date	Restricted
1931568901	MN_31681-202405-06_steak-n-shake-enterprises,-inc..pdf Canonical 2024 analysis	MN	Dec 16, 2024	Restricted
155378	510244_Franchise__Steak_n_Shake_Enterprises__In_North Dakota_155378.pdf Alternate source copy	ND	Mar 28, 2024 FDD issue date	Restricted

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