Franchise Facts Report → compare → Steak n Shake by Biglari vs Johnny Rockets
Steak n Shake by Biglari vs Johnny Rockets
Two other franchises, compared on the numbers their own Franchise Disclosure Documents put on record — investment, fees, Item 19 earnings, outlet churn, and litigation. Not marketing copy.
| Steak n Shake by Biglari | Johnny Rockets | |
|---|---|---|
| Total initial investment FDD Item 7 | $1,344,419 – $2,340,385 | $517,300 – $2,667,900 |
| Initial franchise fee FDD Item 5 | — | $50,000 |
| Royalty FDD Item 6 | 5% | 6% |
| Item 19 earnings disclosed FDD Item 19 | Yes | Yes |
| Avg unit revenue (headline) FDD Item 19 | disclosed (not machine-read) | $1,643,107 |
| Franchised outlets FDD Item 20 | — | 98 |
| Net outlet change (latest yr) FDD Item 20 | — | -2 |
| Closure rate FDD Item 20 | — | 4% |
| Franchisee lawsuits FDD Item 3 | disclosed | 3 |
| Risk level our read | Medium | High |
| FDD year registration | 2023 | 2025 |
Are Steak n Shake by Biglari and Johnny Rockets the same company?
No — Steak n Shake by Biglari and Johnny Rockets are franchised by separate companies. Steak n Shake by Biglari's franchisor is Steak n Shake Enterprises, Inc.; Johnny Rockets's is JOHNNY ROCKETS LICENSING, LLC. Each registers and files its own Franchise Disclosure Document, and you would be signing with a different entity depending on which you chose. Note that a registry filing names the franchisor, not necessarily its ultimate parent — two brands owned by the same parent company can still have separate franchisors.
Cost to open
Johnny Rockets is the cheaper franchise to open: its FDD Item 7 puts the total initial investment at $517,300 – $2,667,900, against $1,344,419 – $2,340,385 for Steak n Shake by Biglari.
How much does each make? (Item 19)
Both franchisors make an Item 19 financial performance representation — the detailed figures are in each brand's FDD (Item 19).
Closures & failure rate
Steak n Shake by Biglari's outlet table did not parse cleanly — see its FDD Item 20. Johnny Rockets reports 98 franchised outlets, net change -2 in the latest reported year, a 4% closure rate (FDD Item 20). Outlet churn — closures, terminations, non-renewals — is the closest thing an FDD has to a failure rate.
Litigation
Steak n Shake by Biglari discloses litigation in FDD Item 3 (each case is described there). Johnny Rockets discloses 3 franchisee-vs-franchisor proceedings in FDD Item 3.
Deciding between Steak n Shake by Biglari and Johnny Rockets?
See what else fits before you choose. Tell us your budget and state and we'll send you the 5–10 other franchises (or any industries you pick) with the strongest FDD record for it.
Steak n Shake by Biglari vs Johnny Rockets — frequently asked
Are Steak n Shake by Biglari and Johnny Rockets the same company?
No — Steak n Shake by Biglari and Johnny Rockets are franchised by separate companies. Steak n Shake by Biglari's franchisor is Steak n Shake Enterprises, Inc.; Johnny Rockets's is JOHNNY ROCKETS LICENSING, LLC. Each registers and files its own Franchise Disclosure Document, and you would be signing with a different entity depending on which you chose. Note that a registry filing names the franchisor, not necessarily its ultimate parent — two brands owned by the same parent company can still have separate franchisors.
What is the difference between Steak n Shake by Biglari and Johnny Rockets?
Steak n Shake by Biglari and Johnny Rockets are other franchises from different franchisors (Steak n Shake Enterprises, Inc. and JOHNNY ROCKETS LICENSING, LLC). Johnny Rockets is the cheaper franchise to open: its FDD Item 7 puts the total initial investment at $517,300 – $2,667,900, against $1,344,419 – $2,340,385 for Steak n Shake by Biglari. Both franchisors make an Item 19 financial performance representation — the detailed figures are in each brand's FDD (Item 19).
Is Steak n Shake by Biglari more profitable than Johnny Rockets?
Both franchisors make an Item 19 financial performance representation — the detailed figures are in each brand's FDD (Item 19).
Which is cheaper to open — Steak n Shake by Biglari or Johnny Rockets?
Johnny Rockets is the cheaper franchise to open: its FDD Item 7 puts the total initial investment at $517,300 – $2,667,900, against $1,344,419 – $2,340,385 for Steak n Shake by Biglari.
Is Steak n Shake by Biglari or Johnny Rockets growing faster?
Steak n Shake by Biglari's outlet table did not parse cleanly — see its FDD Item 20. Johnny Rockets reports 98 franchised outlets, net change -2 in the latest reported year, a 4% closure rate (FDD Item 20).
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Other rankings
Figures are as disclosed in each brand's most recent registered FDD (Steak n Shake by Biglari 2023, Johnny Rockets 2025). “—” means the FDD does not disclose it or the table did not parse cleanly — never an estimate.