Business Description

As the tagline states, Great Steak serves “America’s Premier Cheesesteak.” For more than 25 years, Great Steak has carried on the tradition of this hearty, affordable and all-American meal. Always cooked to order on an exhibition-style grill, Great Steak cheesesteaks are made with sirloin steak and topped with the customer’s choice of cheese and toppings and served on a freshly baked bun.The menu at Great Steak has grown from a single Cheesesteak sandwich to 14 core entrées, including the popular Chicken Philly and Super Steak sandwiches. Also on the menu are Great Steak’s famous fries—large, golden brown and overflowing from their signature cups. The Great Steak concept appeals to both men and women between the ages of 18-45.

Franchisor Background

Year Established:  1982

Franchising Since:  1985

Operating Units:
Franchised Units:	240	99.2%
Company-Owned Units:	2	0.8%
Total Operating Units:	242	100.0%
Minority Representation Units Owned by Minorities: African-American: 5% Asian-American: 40% Hispanic: 5% Native American: 0 Other: 30% Specific Minority   Program(s) in place: We employ a Korean consultant in California to help us reach the Asian community. We do not "change the rules" for any nationality and welcome all that are financially qualified. While not considered a minority, we do have over 30 franchisees from the Middle East.
Geographic Distribution: U.S.: 234 96.7% In 31 States Canada: 0 0% In 0 Canadian Provinces International: 8 3.3% In 0 Foreign Countries   Total: 242 100.0%

North America:
States/Provinces with the largest number of operating units:

Density	Units
1. California	40
2. Illinois	27
3. Ohio	20

Registered in Following Registration States: California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District Of Columbia

Financial Requirements

Investment:
Minimum Net Worth:	$320K
Cash Investment:	$75-150K
Total Investment:	$153.1-456K
Average Total Investment:	$305K
Fees:
Initial Franchise Fee:	$30K
Average Franchise Fee:	$30K
On-Going Royalty:	6%
Average Royalty:	6%
Advertising Fee:	2%

Average Number of Employees: 2 Full-time, 12-15 Part-time

Space Needs (in square footage): 600-2,000

Preferred Sites: Free-standing Building, Storefront, Strip Center, Regional Mall

Other Sites: Airport,University, Lifestyle Center

Encourage Conversions? Yes

Earnings Claims Provided?: No

Franchisee Qualifications
Ranked from 1 (unimportant) to 5 (important):
Financial Net Worth:	4
General Business Experience:	4
Specific Industry Experience:	3
Formal Education:	2
Psychological Profile:	3
Personal Interview(s):	4
Terms of Contract
Term of Initial Contract:	10 Year(s)
Term of Renewal Period:	10 Year(s)
Passive Ownership:	Allowed
Area Development Agreements?	Yes, for 0 Year(s)
Sub-Franchising Contracts?	Yes
Franchisees Allowed to Expand Within Territory?	Yes
Support and Training
International Franchise Association:	No
Canadian Franchise Association:	No
Franchisee Association/Member:	No
Size of Corporate Staff:	250
Site Selection Assistance?	Yes
Lease Negotiation Assistance?	Yes
Financial Assistance?	No
Marketing Support:
Co-Op Advertising:	No
National Advertising:	Yes
Regional Advertising:	No
Local Advertising:	No
Marketing Materials:	None Specified
Additional Services:	Grand Opening, In-house Marketing
Other Marketing Support:	LSM Support, Marketing Representative available
On-Going Support:
Central Data Processing:	At Additional Cost
Central Purchasing:	Included in Fees
Field Operation Evaluation:	Included in Fees
Field Training:	Included in Fees
Initial Store Opening:	Included in Fees
Inventory Control:	Included in Fees
Franchisee Newsletter:	Included in Fees
Regional or National Meetings:	Included in Fees
800 Telephone Hotline:	Included in Fees
Training:
1. Scottsdale, AZ	1 Week
2. Local Franchise	1 Week
Expansion Plans
Projected New Units Over Next 12 months: 24 U.S.: Yes, All United States Canada: Yes, All Canada Overseas: Yes	Request Franchisor Info   Submit an online form to receive information from Great Steak.