Franchise Facts Report → brands → Steak n Shake by Biglari
Steak n Shake by Biglari franchise — is it worth it?
Medium risk Item 19 disclosed
What Steak n Shake by Biglari's most recent Franchise Disclosure Document says about the money, the litigation, and the franchisee churn — before you wire a five- or six-figure franchise fee.
Everything below is free, read straight off Steak n Shake by Biglari's registered filing, with where the numbers land against category peers. Weighing Steak n Shake by Biglari against other options? Get a free shortlist of franchises that fit your budget.
Figures above are as disclosed in Steak n Shake by Biglari's most recent FDD (registered 2023). Source: Minnesota Dept. of Commerce — CARDS franchise registrations · filing 31681-202405-06 — check it yourself. See every other Minnesota-registered franchise.
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How much does a Steak n Shake by Biglari franchise make?
Steak n Shake by Biglari is one of the franchisors that answers this on the record: its most recent FDD makes an Item 19 financial performance representation — actual unit earnings figures, disclosed by the franchisor itself. The headline figure did not machine-read cleanly from this filing, so we don't print one; Item 19 of the source FDD has the tables. See every other brand that discloses earnings in the Other franchises with disclosed Item 19 earnings ranking.
Steak n Shake by Biglari franchise profit vs. revenue
Revenue is not profit. An Item 19 almost always reports sales — what a location takes in — not what an owner keeps. Out of that number come Steak n Shake by Biglari's 5% royalty, the ad fund, rent, payroll, supplies and debt service. No FDD tells you a Steak n Shake by Biglari franchise's profit, because profit depends on your site, your rent and how you run it — so treat any "Steak n Shake by Biglari franchise profit" figure quoted elsewhere as someone's estimate, not a disclosure.
Steak n Shake by Biglari lawsuits & legal history (FDD Item 3)
Steak n Shake by Biglari's most recently filed Franchise Disclosure Document (2023) does disclose legal proceedings in Item 3 . Item 3 is the item where a franchisor must put its material legal history on the record. Two things it is not: it covers the franchisor and its predecessors, parents and affiliates, so a disclosed case is not necessarily a suit against Steak n Shake by Biglari itself; and a disclosure is a fact, not a finding of wrongdoing — most entries are contract disputes with former franchisees, which every large system accumulates. Item 3 of the source FDD describes each case.
Steak n Shake by Biglari closures & failure rate
Before you sign, Steak n Shake by Biglari will hand you a list of current owners to call as references — and they choose who's on that list. It won't include the owners who quit, got bought out, or were forced out last year. The FDD does report that number, even though the reference list leaves those people off. Below is what Steak n Shake by Biglari's most recent filing shows, and whether it's normal for a franchise of this kind.
The closest thing an FDD has to a failure rate is Item 20 — outlet openings, closures, terminations and non-renewals, reported by the franchisor. Steak n Shake by Biglari's outlet tables did not machine-read cleanly; Item 20 of the source FDD has them.
Who owns Steak n Shake by Biglari?
Steak n Shake by Biglari's franchise is offered by Steak n Shake Enterprises, Inc. — the franchisor named on the cover of its most recently filed Franchise Disclosure Document (2023), and the entity a franchisee actually signs with. That name comes straight off the filing at MN CARDS; it identifies the franchisor, not necessarily the ultimate parent company behind it. The same franchisor files separate FDDs for other brands, which is worth knowing — sibling brands share a franchise-support organization but disclose their own numbers:
Compare Steak n Shake by Biglari head-to-head
Franchises at a similar investment level at a similar investment level
Anyone weighing Steak n Shake by Biglari is really weighing it against the other brands their money could go into. These are the closest by total initial investment (FDD Item 7), each with its own FDD-based page.
Steak n Shake by Biglari franchise — frequently asked
Who owns Steak n Shake by Biglari — who is the franchisor?
Steak n Shake by Biglari's most recently filed FDD (2023) names Steak n Shake Enterprises, Inc. as the franchisor — the entity you would actually sign the franchise agreement with, as stated on the disclosure document itself. The same franchisor also files FDDs for Franchise Partner Program. A registry filing names the franchisor, not necessarily its ultimate parent company.
How much does a Steak n Shake by Biglari franchise cost?
Steak n Shake by Biglari's most recently filed FDD (Item 7) puts the total estimated initial investment at $1,344,419 – $2,340,385 and a 5% royalty. That price is the franchisor's own estimate of what it takes to open, not a quote. Against category peers it sits in the bottom quartile (median $227,750).
How much profit does a Steak n Shake by Biglari franchise make?
Steak n Shake by Biglari discloses unit earnings in Item 19, but that figure is revenue — sales — not profit. Royalties (5% of gross for Steak n Shake by Biglari), the ad fund, rent, payroll and supplies all come out of it, and no FDD discloses what an owner nets. Any Steak n Shake by Biglari franchise profit number quoted elsewhere is an estimate.
Does Steak n Shake by Biglari disclose financial performance (Item 19)?
Yes — Steak n Shake by Biglari reports unit-level earnings in Item 19. The headline figure did not machine-read cleanly, so check Item 19 of the source FDD for the numbers.
Are there lawsuits against Steak n Shake by Biglari?
Steak n Shake by Biglari's most recently filed FDD (2023) discloses legal proceedings in Item 3. Item 3 covers the franchisor, its predecessors, parents and affiliates — so a disclosed case is not necessarily a suit against Steak n Shake by Biglari itself, and a disclosure is not a finding of wrongdoing.
Is Steak n Shake by Biglari a good franchise to buy?
Nobody can answer that from Steak n Shake by Biglari's numbers alone — it comes down to how its investment, earnings, litigation and franchisee churn stack up against category peers and against your own budget. Our read on this filing is medium risk. Every figure behind that read is on this page for free. If you're comparing options, the free shortlist on this page matches you with 5–10 franchises that fit your budget and industry.
Get a free email when something changes on Steak n Shake by Biglari or this category: a new FDD registration, a new lawsuit, an outlet count that shifts, or Item 19 earnings going from undisclosed to disclosed. Pulled straight from the same state registries this page is built on.