Rank no.430 – The Great Steak & Potato Co. – US

The Great Steak & Potato Co.

Products & Services: Philly cheesesteak sandwiches, fries, baked potatoes

Number of Locations: 120

Total Investment: $146.14K – 554.75K

Founded: 1985

Began Franchising: 1986

About The Great Steak & Potato Co.

Nicola J. Lanni opened the first Great Steak & Potato Co. store in Dayton, Ohio, in 1982. The stores’ menus include Philadelphia Cheesesteak sandwiches, fresh-cut French fries, chicken and baked Idaho potatoes. The signature cheesesteak sandwich is prepared with grilled USDA choice sirloin steak and onions, melted Provolone cheese, mayonnaise, lettuce and tomato on a warm bun. Every item is grilled and prepared to order in front of the customer.
Great Steak & Potato is owned by Kahala, franchisor of Blimpie, Cereality, Cold Stone Creamery, Frullati Café & Bakery, Johnnie’s, Nrgize, Ranch 1, Rollerz, Samurai Sam’s, Surf City Squeeze and TacoTime.

Where Seeking Franchisees: Franchisor is seeking new franchise units worldwide.
Startup Costs, Ongoing Fees and Financing

Total Investment: $146,150 – $554,750
Franchise Fee: $30,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable
FINANCIAL REQUIREMENTS
Liquid Cash Available: $30,000
OPERATIONS
35% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 10 – 15. Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators).

How This Franchise Supports Franchisees

Training: Available at headquarters: 2 weeks. At franchisee’s location: 2 weeks. At existing locations : As needed.
Ongoing Support: Newsletter, Meetings, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
Marketing Support: Ad slicks, National media, Regional advertising,
Franchise Ranking History

Franchise 500®: #430 (2013), #477 (2012), #467 (2011), #399 (2010), #296 (2009),

Since 1982, The Great Steak and Potato Company® has been serving the finest cheesesteaks in hundreds of locations across the United States and abroad. Now known simply as Great Steak, our menu has grown from a single cheesesteak to a complete line of specialty sandwiches, fries and baked potatoes.

Our recipe for loyalty? Authenticity. Our cheesesteak may look like a sandwich, but its heart is red, white and blue. Invented in Philadelphia, the cheesesteak is an American original that’s become a tradition. At Great Steak, we make our cheesesteaks with only the finest American ingredients, from the specially cut and marinated beef to our freshly baked bread. Grilled to perfection, it’s a genuine slice of homegrown comfort food.

Source: http://www.thegreatsteak.com