It has been two or three years since we heard Steak ‘n Shake was looking to build in Tupelo.
As the saying goes, I’ll believe it when I see it. And so far, there’s no official filing at the city’s planning office for a Steak ‘n Shake being built.
That doesn’t mean that the restaurant is never going to build a location here (talking to you, Target); it just means there’s nothing to see here for the moment.
For now, you can get your Steak ‘n Shake fix in Southaven and Memphis.
While we’re waiting (and waiting and waiting) for the day that Steak and Shake makes its way to the All-America City, let’s take a look into the three kinds of franchises the company has, as well as the requirements for a franchise owner:
1. STEAK N SHAKE CLASSIC FRANCHISE
- Building: 3,315 to 3,800 square feet with drive-through
- Land: .7 to 1 acre]
- Dining area of 99 seats plus a quick-serving drive
- Open 24 hours daily with full menu
2. LIMITED MENU, IN-LINE BURGER FRANCHISE CONCEPT
This new format, the company says, “provides franchisees with the opportunity to own a Steak ‘n Shake restaurant franchise at less costly investment, smaller footprint and a more simplified operation centered on a limited menu items.” It’s ideal for lifestyle centers, universities, shopping centers and urban centers.
- Size: 2,000 to 2,500 square feet
- Dining area: Limited menu with 40-plus seats, drive-through if possible
3. NON-TRADITIONAL RESTAURANT FRANCHISE DEVELOPMENT
The company says these are geared toward airports, train stations, toll plazas, casinos and other venue.
- Size: 500 to 800 square feet, drive-through if possible
- Dining area: Limited menu with common area seating shared by other stops or fast food franchisees
BUT TO OPEN any of the previously mentioned Steak ‘n Shake locations, you have to have at least $1.5 million net worth and at least $5oo,ooo that’s liquid.
Startup costs for the class restaurant design is $1.375 million to $2.135 million. For the limited-menu, in-line burger franchise, the initial investment ranges from $475,000 to $1.385 million; and for the non-traditional franchise, those numbers drop to $250,000 to $750,000.
So, if you’ve got what it takes and want to open a Steak ‘n Shake, it’s now spelled out for you.