Steak & Shake said to be selling all of it's company owned Stores converting them to franchise owned stores. The Decatur store has already closed which I have referenced under a different topic here but I didn't mention their plans to sell all of their company owned locations and convert them to franchise owned locations.
As shocked as I was at the Decatur location closing I was even more shocked at the price a person would have to pay to get a franchise location, even one that already exist. BIG TIME shocked as the price was said to be $10,000.00 for single location. Yeah that's right Ten Thousand Dollars plus complete a 6 month training course but you can't get hardly any franchise for $10,000.00 these days in fact you can't buy a new car for that. The catch, and there is most likely more than one but the franchise person cannot own or run another business but has to make Steak & Shake their ONLY business and 50% of the store profits goes to the company.
Sounds like a great deal for some but then I'm not one that knows that end of the restaurant business but as busy as some of the stores were I can't see anyone losing on that proposition, especially for stores that are already built because the property is worth far more than that so there has to be more to it than just the $10,000.00 franchise fee but According to the Steak 'n Shake company site maybe not. I'm Doubly Shocked today!
Once to see it closed (in Decatur) and 2nd a the Franchise fee cost