Steak 'n Shake Franchise Cost (2025)
Complete cost breakdown for Steak 'n Shake franchise: $1344K–$2340K investment, 5% royalty, franchise fee, and ongoing costs. From the official 2025 FDD.
Source: 2025 FDD filed in MN
Total Investment
$1.3M–$2.3M
Franchise Fee
$25K
Non-refundable
Royalty
5%
Gross Receipts
Ad Fund
1%
Gross Receipts
Ongoing Fees
Monthly and annual costs after opening.
| Fee | Amount | Notes |
|---|---|---|
| Royalty | 5% of gross sales | |
| Ad Fund | 1% of gross sales |
Revenue Context
Average Revenue
$1.8M
From Item 19 (2025 FDD)
Investment-to-Revenue Ratio
0.8x
Lower is better (min inv ÷ avg rev)
Annual Fee Burden
6.0%
Royalty + ad fund as % of gross sales
At average revenue of $1.8M, you'd pay approximately $89K/year in royalties alone, plus $18K/year in ad fund contributions.
Other Upfront Fees
| Fee | Amount |
|---|---|
| Computer Equipment and Proprietary Systems (Quick-Service) | $80K |
| Extension Fee | — |
| Plan Review Fee | — |
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