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Below is an in-depth analysis and side-by-side comparison of The Steak Escape vs NYC Bagel & Sandwich Shop including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $190,200 - $1,300,000 | $119,000 - $208,000 |
Franchise Fee | $25,000 | $29,500 |
Royalty Fee | 6% | 5% |
Advertising Fee | - | $300 - $600 |
Year Founded | 1982 | - |
Year Franchised | 1983 | - |
Term Of Agreement | 20 years | - |
Term Of Agreement | 20 years | - |
Renewal Fee | - | - |
Business Experience Requirements |
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Experience | - | |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | -/- |
Start-up Costs | No/No | -/- |
Equipment | No/No | -/- |
Inventory | No/No | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
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Training | - | Full training from stocking your store, helping with employees and management to showing how to prepare every item on the menu |
Support | Newsletter, Toll-free phone line, Grand opening, Internet, Field operations/evaluations | NYC Bagel & Sandwich Shop has a 24/7 support system in place and does a full training from stocking your store, helping with employees and management to showing how to prepare every item on the menu, POS support and even stays during the opening period to be on-site for additional help/support. Corporate also follows back up with each location often to ensure food product is going out correctly and to assist with further questions in your location. The NYC Bagel Franchise also has an additional training program for all franchisees after opening their location to go over and refresh on any or all food product, recipes or formulas. |
Marketing | - | NYC Bagel & Sandwich Shop Corporate helps create all social media to help market and cater to certain areas as well as other online campaigns to help better each individual location. |
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) | - |
Expansion Plans |
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US Expansion | - | Yes |
Canada Expansion | No | - |
International Expansion | Yes | - |
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.