The Steak Escape vs Charleys Philly Steaks Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of The Steak Escape vs Charleys Philly Steaks including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
The Steak Escape Franchise
Charleys Philly Steaks Franchise
Investment $190,200 - $1,300,000$253,231 - $637,568
Franchise Fee $25,000$24,500
Royalty Fee 6%6%
Advertising Fee -0.25%
Year Founded 19821986
Year Franchised 19831991
Term Of Agreement 20 years10 years
Term Of Agreement 20 years10 years
Renewal Fee -$5K


Business Experience Requirements
 
The Steak Escape Franchise
Charleys Philly Steaks Franchise
Experience
  • General business experience

  • General business experience
    		•

    Financing Options
     
    The Steak Escape Franchise
    Charleys Philly Steaks Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/NoNo/No
    Start-up Costs No/NoNo/Yes
    Equipment No/NoNo/Yes
    Inventory No/NoNo/Yes
    Receivables No/NoNo/Yes
    Payroll No/NoNo/Yes

    Training & Support
     
    The Steak Escape Franchise
    Charleys Philly Steaks Franchise
    Training -On-The-Job Training: 120 hours Classroom Training: 60 hours
    Support Newsletter, Toll-free phone line, Grand opening, Internet, Field operations/evaluationsPurchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
    Marketing -Co-op advertising, Ad slicks
    Operations International franchisees required to buy multiple units/master licenses

    Number of employees needed to run franchised unit: 20 - 25

    Absentee ownership of franchise is allowed. (75% of current franchisees are owner/operators)

    Number of employees needed to run franchised unit: 20

    Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators)

    Expansion Plans
     
    The Steak Escape Franchise
    Charleys Philly Steaks Franchise
    US Expansion -Yes
    Canada Expansion NoNo
    International Expansion YesYes

    Company Overviews

    About The Steak Escape

    The Steak Escape was established in Columbus, Ohio, in 1982 by Ken Smith and Mark Turner. One year later, Escape Enterprise Ltd. was formed, and Steak Escape started franchising mall sites, as well as locations in college campuses, airports and sports arenas. The privately held company specializes in genuine Philadelphia cheesesteaks and operates in more than 30 states as well as overseas.

    About Charleys Philly Steaks

    Visits to his relatives near Philadelphia inspired Charley Shin's entrepreneurial spirit, and he saw his future in cheesesteak sandwiches. In 1986, Shin opened his first Charley's Steakery at Ohio State University. The then-22-year-old's restaurant became an instant hit with professors and students. Since then Shin has expanded to locations nationwide. In 1999, he was named Entrepreneur of the Year by Ernst & Young.

    The #1 Cheesesteak in the World

    The total investment necessary to begin operation of CPS Restaurant is $253,231 to $570,540 (excluding real estate and related costs). This includes $24,500 that must be paid to the franchisor.
    The total investment necessary to begin operation of a CPSC Restaurant is $458,996 to $637,568 (excluding real estate and related costs). This includes $24,500 that must be paid to the franchisor.

    Veteran Incentives   50% off franchise fee

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    #126 in Franchise 500 for 2020.
    #294 in Franchise 500 for 2021.