Are you in the market for a steakhouse franchise? If so, you are in luck! There are many different steak chains to choose from. In this article, we’ll introduce 20 different steak chains. So, which food franchise is right for you? Read on to find out!
What is a steakhouse chain?
This is a restaurant specializing in steak. Steakhouses typically have a wide variety of steak options, as well as other menu items such as seafood, salads, and side dishes.
Steakhouse Industry in 2022
The food industry as a whole is expected to reach $899 billion in sales by the end of 2022 The steak restaurant industry provided the impetus. With food as delicious as bone-in steak or flame-grilled steak, it’s no wonder the industry is poised to continue growing.
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Why you should consider franchise steakhouse
There are many reasons to start a franchise like Great Steak. Here are five of them:
- Steak is a timeless classic. Steakhouses like Stoney River Steakhouse are always popular because steak is a timeless classic. Easy to operate. You don’t need to be a chef to run a steakhouse and provide great service.
- Various steak options. There are many different types of steaks to choose from so you can offer something for everyone .
Flexible time. Steakhouses are usually open for lunch and dinner, so you can run your business according to your schedule. Proven business model. Steakhouse franchises have established, successful business models that you can emulate.
Top Steakhouse Chain
Now that we’ve seen some of the reasons why you should start one of the many steak chains, let’s take a look at 20 of the best opportunities for qualified franchisees:
1. Ruth’s Chris Steak House
has a laid-back Ambience, beautiful restaurant design, delicious steaks, and garlic butter mashed potatoes, Ruth’s Chris Steak House is a high-end steakhouse chain with initial investments ranging from $2,539,500 to $5,932,500. Franchise fees are up to $150,000 and royalties are 5.0%. The required working capital is $150,000 to $250,000 and you need a net worth of $1 million.
2. Outback Steakhouse
Outback Steakhouse is known for its Bloomin’ Onion appetizers, full-service bar and ​​bone-in steak to perfection. To open an Outback Steakhouse, you need a total investment of up to $6 million. This includes an initial franchise fee of between $30,000 and $75,000, and royalties of between 5% and 6% of total sales. The cost to build a restaurant starts at $830,000.
3. Longhorn Steakhouse
Longhorn Steakhouse is a restaurant chain owned by Darden Restaurants, Inc. with average annual restaurant sales of $3.3 million per person. The company has more than 520 locations and offers franchise opportunities in certain areas. Franchise fees for Longhorn Steakhouse will vary based on market opportunity, unit growth potential and region.
4. Texas Roadhouse
Texas Roadhouse is located all over Texas in cities like San Antonio, serving delicious steaks. The company was established in 1993 and requires a working capital investment of $200,000, with an investment of $1.6 million to $3 million. The franchise fee for Texas Roadhouse is $40,000.
5. Bonanza Steakhouse
To open a Bonanza Steakhouse, you need at least $1.5 million in net worth and at least $500,000 in liquidity. The initial franchise fee is $50,000 per location, and you’ll also pay 5% royalties on gross sales and 2% advertising. Bonanza Steakhouse has been in business since 1963 and franchised since 1994.
6. Shula’s Steak House
If you want to open the Shula’s Steak House franchise from Don Shula, a Hall of Famer and former head coach Miami Dolphins, you need a total investment of at least $1,224,350. This includes an initial franchise fee of $150,000. You also need to have at least $210,000 in working capital. Royalties are 9.0% of gross sales.
7. Quaker Steak and Lube
Founded in 1974, Quaker Steak and Lube is a popular restaurant chain that began as a series of old Gas Station. Opening a Quaker Steak and Lube franchise will cost you an initial franchise fee of $30,000 to $40,000. However, your total investment will be between $473,500 and $4,106,000 with 5% royalties and 3% advertising.
8 . The Capital Grille
Capital Grille is a high-end steakhouse chain now available for international franchising. The Capital Grille averages $6.8 million in annual sales per restaurant and has received several awards and recognition. Franchisees need to have sufficient funds to support investment funds.
9. Black Rock Bar and Grill
If you’re looking for a great franchise opportunity, Black Rock Bar and Grill is worth your consideration. Compared to other franchise opportunities in the restaurant industry, Black Rock’s initial franchise fee is only $50,000, with total investment costs ranging from $1.5 million to just under $3 million.
10.Ponderosa Steakhouse
To open a Ponderosa Steakhouse, you need a net worth of $1.5 million and a working capital of $500,000. Franchise fees are $50,000 per location and royalties are 5% of gross sales. Advertising fee is 2% of total sales. Your initial investment will be between $1,696,500 and $2,526,500.
MORE STEAK RESTAURANT FRANCHISES
Let’s go ahead and list this iconic brand serving delicious steaks :
11. Great Steak
Opening a franchise restaurant in this company is a great investment opportunity with a high potential return. Franchise fees range from $5,600-$30,000, and total investment ranges from $132,500-$593,300. To get a franchise, you need a credit score of 680 and a net worth of $250,000. You also need $120,000 in liquidity. If you are looking for
12. Johnny’s Italian Steakhouse
If you want to invest in a restaurant chain, Johnny’s Italian Steakhouse is a good choice. With $5 million in net worth and $1 million in liquidity, you’ll have the financial support you need to get started. The initial franchise fee is $75,000 and the total investment ranges from $1,275,000 to $4,000,000. The royalties are 5.0%.
13. Steak Escape Sandwich Grill
Steak Escape Sandwich Grill is a fast food restaurant specializing in bespoke steak and chicken sandwiches. Its franchise fee is only $25,000, and royalties are only 6% of total sales. Steak Escape is looking for individuals with a net worth of $400,000 and liquid assets of at least $200,000.
14. Charleys Philly Steaks
If you are looking for a Philly cheesesteak franchise, Charleys Philly Steaks is a great option with low franchise fees $24,500. The company has been franchising since 1991 with initial investments ranging from $251,637 to $1,002,700. The royalties are 6% and the net worth requirement is $500,000. The liquid cash requirement is $175,000.
15. Freddy’s Frozen Custard & Steakburgers
Freddy’s Frozen Custard & Steakburgers is a franchisee and has been franchising since 2004. Freddy’s franchises range from $641,000 to $2.1 million. Franchise fee is $25,000. Royalties are 4.5% of total sales, and advertising royalties are 0.375%. Franchisees must have a net worth of at least $1 million and liquid assets of at least $400,000.
16. Keg Steakhouse & Bar
Starting a Keg Steakhouse & Bar franchise can be a lucrative business venture with an initial investment of $75,000 , with a total investment of $4 million to $5.5 million. As a franchisee, you pay 6% royalties and 2% marketing fees on gross sales. Your net worth must be at least $4 million to qualify for this franchise opportunity.
17. Glory Days Grill
If you want to open a Glory Days Grill franchise and serve delicious steaks and wings, you’ll need to pay at Between $1.7 million and $2.5 million. You also need to have a net worth of at least $1.5 million and liquid assets of at least $750,000. The initial franchise fee is $50,000 and subsequent royalties are 3%.
18. All American Steakhouse and Sports Theatre
An initial investment of between $1,500,000 and $2,500,000 is required to open an All American Steakhouse and Sports Theater franchise. The initial franchise fee is $45,000 and the continuing royalties are 3%. There is also a 0.5% marketing and technical fee. The net worth requirement is $1,500,000 and the liquid cash requirement is $350,000.
19. Steak-Out Char-Broiled Delivery
Want to open a Steak-Out Char-Broiled Delivery store? Your total initial investment will then be between $271,000 and $453,000. You need to have at least $379,100 in net worth and $75,000 in liquid cash. Franchise fee is $30,000 and royalties are 5% of weekly net sales.
20. Tony Roma
Tony Roma’s franchise opportunity has an initial investment range of $1,973,500 to $3,246,000 for independent locations. For conversion or online positions, the initial investment range is $1,893,500 to $3,121,000. Franchise fee is $30,000 and royalties are 4% of net sales paid monthly.
How to Choose the Best Franchise to Build a Steak Franchise
There are many things to consider when choosing a steak chain . Here are four ways you can choose the best steakhouse franchise for yourself:
Menu options.
Check out their menu to see if their steaks are extensive. You should also make sure the franchise you choose offers other menu items such as seafood, salads, and side dishes.
View location.
Choose a franchise located in a busy area with high traffic. This will help you attract more customers.
Hours of operation.
Make sure the franchise of your choice is open for lunch and dinner so you can sell steaks and follow your schedule to conduct business.
Your total investment.
When choosing a steak restaurant franchise, be sure to consider the initial investment and franchise fee.
How much does it cost to open a steakhouse chain?
It depends on the chain and location you choose to work with, but the average initial investment for a steakhouse franchise is between $1 million and $2 million, with some An investment of approximately $6 million is required.
Is a steakhouse franchise profitable?
Yes, a steakhouse franchise can be profitable. If you choose a busy location that offers a variety of menu items in addition to steak, and provides a good guest experience, you can get a good return on your investment. Marketing will also play a role in your success.
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