Great Steak
Food & Beverage · Sub Sandwiches
Description
What is Great Steak?
The franchise stands out for its signature cheesesteaks featuring thinly sliced beef grilled to perfection, paired with fresh-baked bread and a variety of customizable toppings. Beyond their famous Philly cheesesteaks, Great Steak offers an extensive menu including chicken sandwiches, gyros, and their popular loaded fries, catering to diverse taste preferences.
What sets Great Steak apart is their dedication to maintaining consistent quality while providing generous portions at competitive prices. Their efficient service model, particularly successful in mall food courts and shopping centers, has helped build a loyal customer base. The brand's open-kitchen concept allows customers to watch as their meals are prepared, adding to the authentic experience.
Franchise owners benefit from a proven business model that combines time-tested recipes with modern operational efficiency. Great Steak's training program ensures that each location maintains the high standards that have made the brand successful for nearly four decades. The franchise system provides comprehensive support in areas such as site selection, staff training, and ongoing operational guidance.
For entrepreneurs looking to enter the food service industry, Great Steak offers the opportunity to own a business with a established reputation in the competitive sandwich segment, backed by a brand that continues to innovate while staying true to its original mission of serving quality, satisfying meals.
- Nearly 40 years of operational history since 1985
- Significantly lower investment than sub-sector average
- Specialized cheesesteak menu focus reduces complexity
- Fresh preparation with made-to-order customization
- Founded by brothers inspired by authentic Philadelphia cheesesteaks
- Streamlined operations compared to lengthy menu competitors
Location Analysis
Where Great Steak wins
The franchise's footprint reveals a strategic focus on high-traffic, densely populated areas, particularly evident in their presence in Washington DC and major metropolitan markets. While this urban-centric approach provides steady customer flow, it also intensifies competition in the quick-service restaurant sector. The strong concentration in the Mid-Atlantic region creates operational efficiencies but leaves significant untapped markets in the Northeast and Southeast.
Prospective franchisees should focus on locations with high daytime population density, proximity to office complexes or retail centers, and strong lunch traffic patterns. The success of their Pleasant Prairie, Wisconsin location suggests potential in secondary markets with lower competition and operating costs. Key location criteria should include areas with median household incomes above $60,000, visible storefront positioning, and adequate parking facilities. Markets with established food delivery infrastructure and catering opportunities present additional revenue streams.
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Financial Analysis
The numbers behind Great Steak
Founded in 1985 by two Ohio brothers inspired by Philadelphia cheesesteaks, the brand has maintained nearly four decades of operational experience with a focused menu strategy. With 27 active units, Great Steak demonstrates system stability while maintaining opportunities for strategic expansion in underserved markets.
The reported gross revenue of $566,711 approaches the sub-sector average of $608,302, reflecting solid performance within the specialized cheesesteak segment. The brand's streamlined menu focus differentiates it from competitors with extensive offerings, potentially reducing operational complexity and inventory management challenges.
Great Steak emphasizes fresh preparation and customization, with meals prepared to order in front of customers. This operational model requires hands-on management commitment but creates differentiation in the quick-service segment. Prospective investors should possess food service experience and maintain adequate working capital beyond the initial investment for sustained operations and local market development.
Financing partners
Vetted partners, tailored to franchisees
Your Franzy advisor can connect you with these partners later in the process — competitive rates, specialized in franchise financing.
FranFund
CRF USA
Nonprofit SBA lender; provides financing for franchise acquisitions, startups, and expansion.
First Bank of the Lake
Pension Pros
FDD Item 7
Initial investment range
Per FDD Item 7, total initial investment ranges from $155,900 to $615,050. The midpoint $385,475 is what most franchisees report at signing — financing typically reduces cash-at-close by 80–90%. Knowing the investment range helps you plan confidently and ensure you're fully prepared to make the leap.
FDD Item 19
Average gross sales
According to Item 19 of the Franchise Disclosure Document, Great Steak has an average gross revenue of $567K. (Note: This information is based on the latest FDD in our records. Please review the Franchise Disclosure Document (FDD) and confirm this information directly with the brand. We make no claims of accuracy for the information presented.)
Growth over time
Franchise footprint
2023 Franchise Disclosure
FDD documents
Below are items 2, 3, 4, 7, 11 and 19 for Great Steak's 2023 FDD. The complete FDD is delivered to you directly by the franchisor, per the FTC Franchise Rule.
Connect to download Items 2, 3, 4, and 11 — direct from the franchisor.
Buyer FAQs
Frequently asked questions
The initial investment for a Great Steak franchise typically ranges between $155,900.00 and $615,050.00. This includes the franchise fee, equipment, real estate, and other startup costs. To get a detailed breakdown and better understand the financial requirements, we recommend scheduling a call with the Franzy team. We'll walk you through the specifics and answer any questions you might have. For more detailed information, refer to the financial sections of the FDD.
Disclaimer. The information provided on this page is based on the latest Franchise Disclosure Document (FDD) that is publicly available and that we have on record, which was issued in 2023. This information is for informational purposes only and is not intended to constitute legal, financial, or business advice. We make no guarantees or claims regarding the completeness or accuracy. For the most current and detailed information, we recommend consulting the franchisor directly for the most recent FDD and regarding any questions that you may have about the information provided.
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