The Steak Escape vs The HoneyBaked Ham Company & Cafe Franchise Comparison

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

Start-Up Costs and Fees

 
The Steak Escape Franchise
The HoneyBaked Ham Company & Cafe Franchise
Investment $190,200 - $1,300,000$292,900 - $567,600
Franchise Fee $25,000$30,000
Royalty Fee 6%6%
Advertising Fee -3.25%
Year Founded 19821957
Year Franchised 19831998
Term Of Agreement 20 years7 years
Term Of Agreement 20 years7 years
Renewal Fee --


Business Experience Requirements

 
The Steak Escape Franchise
The HoneyBaked Ham Company & Cafe Franchise
Experience
  • General business experience

  • Industry experience
  • General business experience
  • Marketing skills

  • Financing Options

     
    The Steak Escape Franchise
    The HoneyBaked Ham Company & Cafe Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/NoNo/No
    Start-up Costs No/NoNo/No
    Equipment No/NoNo/No
    Inventory No/NoNo/No
    Receivables No/NoNo/No
    Payroll No/NoNo/No

    Training & Support

     
    The Steak Escape Franchise
    The HoneyBaked Ham Company & Cafe Franchise
    Training -Comprehensive two-week training, both in-store and in a classroom. Ongoing training through conferences and webinars. On-The-Job Training: 97 hours Classroom Training: 25 hours
    Support Newsletter, Toll-free phone line, Grand opening, Internet, Field operations/evaluationsNewsletter 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, National media, Regional advertising
    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)

    25% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 7 - 10

    Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators)


    Expansion Plans

     
    The Steak Escape Franchise
    The HoneyBaked Ham Company & Cafe Franchise
    US Expansion -Yes
    Canada Expansion NoNo
    International Expansion YesNo

    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 The HoneyBaked Ham Company & Cafe

    After inventing the spiral slicer, Harry Hoenselaar founded The HoneyBaked Ham Co. and Cafe in 1957. Family-owned and operated for three generations, the company has more than 300 locations in the United States. Incorporated in 1974, the Atlanta-based company has a catalog division, corporate sales businesses and a temporary holiday store system. The company purchased The Hickory Ham Co. and its 40 franchise stores. In addition to its sweetly glazed ham, the company offers HoneyBaked turkey breast, side dishes, cheesecake, key lime pie and sandwiches. HoneyBaked Ham offers a corporate gift-giving program, employee recognition options, and catered meals for holidays and business functions.

    The total investment necessary to begin operation of a HoneyBaked Ham Store ranges from $292,900 to $567,600. This includes initial fees of $45,900
    to $50,500 that must be paid to the franchisor or their affiliate(s).
    If you sign an Area Development Agreement to develop multiple HoneyBaked Ham Stores, you will pay a Development Fee to the franchisor in the amount of $10,000 for each Store that you agree to develop.
    Veteran Incentives  $10,000 off first-store franchise fee
    "Entrepreneur
    #173 in Franchise 500 for 2020.
    #257 in Franchise 500 for 2021.