Famous Dave's vs The Steak Escape Franchise Comparison

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

Start-Up Costs and Fees
 
Famous Dave's Franchise
The Steak Escape Franchise
Investment $481,750 - $4,495,750$190,200 - $1,300,000
Franchise Fee $45,000$25,000
Royalty Fee 5%6%
Advertising Fee 1%Nat'l + 1.5% local-
Year Founded 19951982
Year Franchised 19981983
Term Of Agreement 20 years20 years
Term Of Agreement 20 years20 years
Renewal Fee 50% of then-current fee-


Business Experience Requirements
 
Famous Dave's Franchise
The Steak Escape Franchise
Experience * Prefer Ownership/management experience in full service, casual dining restaurants, in or near the desired territories. * Multi unit experience is a big plus. * Single units will be considered depending on market conditions, demographics and other criteria. * If Area Development Agreement is chosen, minimum of three units required to be developed. * Minimum LIQUID net worth of $750,000. * Minimum per unit development costs could range from approx $900,000 to $4,000,000. * Proven commitment to customer service and quality food.
  • General business experience
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    Financing Options
     
    Famous Dave's Franchise
    The Steak Escape Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/NoNo/No
    Start-up Costs No/NoNo/No
    Equipment No/YesNo/No
    Inventory No/NoNo/No
    Receivables No/NoNo/No
    Payroll No/NoNo/No

    Training & Support
     
    Famous Dave's Franchise
    The Steak Escape Franchise
    Training --
    Support Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperativesNewsletter, Toll-free phone line, Grand opening, Internet, Field operations/evaluations
    Marketing Co-op advertising, Ad slicks, Regional advertising-
    Operations Franchisees required to buy multiple units/master licenses; 84% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 65

    Absentee ownership of franchise is NOT allowed. (97% of current franchisees are owner/operators)

    		 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
     
    Famous Dave's Franchise
    The Steak Escape Franchise
    US Expansion Yes-
    Canada Expansion NoNo
    International Expansion NoYes

    Company Overviews

    About Famous Dave's

    Famous Dave's is a "specialty" casual dining restaurant franchise, creating environments that transcend current restaurant offerings by serving the highest quality, flavor-intense foods in surroundings that are stimulating, interesting and fun! Famous Dave's is more than a restaurant - it's an escape from the ordinary. Few restaurants in history have achieved as much recognition in a few short years as Famous Dave's! Dave's road to fame began with a strong hankerin' for fine barbecue and a stronger desire to make the finest slow-smoked barbecue folks had ever tasted. He visited rib shacks, roadside joints, every hole-in-the-wall or fancy pants supper club he could, all in search of the most succulent meats, savory seasonings and lipsmackin' sauces around. After 25 years of tastin' and cookin', Dave's barbecue just plain knocked the socks off his family and friends. That's when Dave decided he had to share. He wanted to give all the folks a chance to dig into the best barbecue ever. And in a place as down-home fun and frolicsome as the shacks and clubs he went a callin' on all those years.

    "Top
    #57 in Gator's Top franchises.

    "franchiserankingscom"
    #96 on Franchise Rankings.com


    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.