The Steak Escape vs McGhin's Franchise Comparison

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

Start-Up Costs and Fees

 
The Steak Escape Franchise
McGhin's Franchise
Investment $190,200 - $1,300,000$300,000 - $1,300,000
Franchise Fee $25,000N/A
Royalty Fee 6%-
Advertising Fee --
Year Founded 19821984
Year Franchised 19832006
Term Of Agreement 20 years-
Term Of Agreement 20 years-
Renewal Fee --


Business Experience Requirements

 
The Steak Escape Franchise
McGhin's Franchise
Experience
  • General business experience
  • -

    Financing Options

     
    The Steak Escape Franchise
    McGhin's Franchise
      In-House/3rd PartyIn-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

     
    The Steak Escape Franchise
    McGhin's Franchise
    Training --
    Support Newsletter, Toll-free phone line, Grand opening, Internet, Field operations/evaluations-
    Marketing --
    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

     
    The Steak Escape Franchise
    McGhin's Franchise
    US Expansion --
    Canada Expansion No-
    International Expansion Yes-

    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 McGhin's

    NO LONGER FRANCHISIING