Hamburgers
Steak N Shake Non Trad
Indianapolis, IN · Founded 1934 · SNSN
Steak 'n Shake's principal business is the operation and development of a chain of quick-service restaurants specializing in premium burgers and milkshakes. The franchisor offers qualified employees and third parties the opportunity to acquire and operate existing company-owned Steak 'n Shake restaurants as franchises under the Steak 'n Shake system.
2026 Franchise 500
Unranked
272
units (2025)-4.2%
year over yearUnits by Year
3192022
3122023
2842024
2722025
Total outlets at year end, from FDD Item 20.
The Investment
Initial investment
$259,336 – $997,942
FDD Item 7
Franchise fee
$10,000
FDD Item 5
Ad fund
—
FDD Item 6
Financial performance
Yes
FDD Item 19 disclosure
Royalty
1% of Gross Receipts
Leadership
Sardar Biglari
Chairman & Chief Executive Officer
Steven L. May
Chief Administrative Officer
On File
Franchisee records
196
Current roster rows
Signed, not open
—
FDD Item 20, Table 5
Franchising for
92 yrs
Franchise Disclosure Documents
Also in Hamburgers
More in Food: Quick-Service Restaurants→Read from this brand's Franchise Disclosure Documents. FDD library maintained by AskTy; figures are as filed by the franchisor.