Not many things can compare to perfectly cooked, mouth-watering steaks. For the places with ideal meat, people can go for miles. There are two main kinds of steakhouse franchises: casual steakhouse restaurants, like Outback and Texas Roadhouse, and high-end steakhouses, like Ruth's Chris Steak House.
Becoming a franchisee of one of those 17 best steakhouse franchises is a shortcut to the stomachs and hearts of steak lovers. It is also a savvy entrepreneurial step because you will have access to proven business operation systems.
1. Tony Roma's
- Founded: 1972
- Franchising since: 1979
- Initial investment: $1,973,500 – $3,121,000
- Initial franchise fee: $40,000
- Net-Worth Requirement: $3,000,000
- Liquid Cash Requirement: $1,000,000
Tony Roma's is a full-service, casual family restaurant. The franchise specialty is BBQ steaks, ribs, and seafood. The company recently renovated the restaurant design and menu. The restaurants are located in high-traffic areas and have flexible footprint requirements.
The franchisor provides single and multi-unit opportunities, but multi-unit development is preferred. Franchisees must have hospitality industry or restaurant experience, as well as knowledge in financial management and marketing.
2. Bandana's Bar-B-Q
- Founded: 1996
- Franchising since: 2004
- Initial investment: $380,200 – $1,122,500
- Initial franchise fee: $40,000
- Ongoing royalty fee: 5%
- Liquid Cash Requirement: $250,000
Bandana's Bar-B-Q menu focused on Southern-style barbecued pork, beef, ribs, and chicken. The franchise is known for its signature smoked flavor of meat prepared over a pit of select hardwoods. The restaurants are open 24\7 and provide dine-in, carry out and catering options. The franchisees will benefit from initial training, opening assistance, ongoing business consulting, and protected territory.
3. Black Rock Bar & Grill
- Founded: 2010
- Franchising since: 2014
- Initial investment: $1,519,940 – $2,957,625
- Initial franchise fee: $50,000
- Ongoing royalty fee: 4%
- Net-Worth Requirement: $3,000,000
- Liquid Cash Requirement: $300,000
Black Rock Bar & Grill has a second-to-none concept offering Angus beef steaks served and cooked on a sizzling volcanic rock at the customer's table. The customers cook their steak themself, which allows franchisees to reduce the number of the kitchen staff. The franchise has a proven business model driven by the guest experience.
4. Ponderosa Steakhouses
- Founded: 1965
- Franchising since: 1965
- Initial investment: $1,696,500 – $2,526,500
- Initial franchise fee: $50,000
- Ongoing royalty fee: 3%
- Net-Worth Requirement: $1,500,000
- Liquid Cash Requirement: $750,000
Ponderosa & Bonanza is a family-focused steakhouse franchise with over 50 years of experience. The franchise restaurants offer flame-grilled steaks along with a buffet featuring a selection of salads, soups, appetizers, vegetables, and desserts. A typical restaurant is 2,000 - 5,000 square feet, while food courts or kiosks are smaller and need an 800 - 1,000 square feet footprint. Both single-unit and multi-unit are provided. The franchise owners will have all support for opening and successful operation.
5. Quaker Steak & Lube
- Founded: 1974
- Franchising since: 1997
- Initial investment: $473,500 – $4,106,000
- Initial franchise fee: $30,000 - $40,000
- Ongoing royalty fee: 5%
- Net-Worth Requirement: $3,000,000
- Liquid Cash Requirement: $500,000
Quaker Steak & Lube has a unique motorsports-themed decoration as a result of founders wanting to preserve the culture of old gas stations. The franchise menu includes steaks, sandwiches, hamburgers, chicken wings, salads, desserts.
Requirements for franchise owners are a restaurant or operational experience, a strong understanding of local marketing, passion for guest service and care about the local community.
6. All American Steakhouse and Sports Theater
- Founded: 2003
- Franchising since: 2016
- Initial investment: $1,500,000 – $2,600,000
- Initial franchise fee:$45,000
- Ongoing royalty fee: 3%
- Net-Worth Requirement: $1,500,000
- Liquid Cash Requirement: $350,000
All American Steakhouse and Sports Theater provides dry-aged steaks and other food items in a sports-themed atmosphere. Each restaurant has an in-house butcher and at least 20 big-screen TVs. It is highly recommended franchise locations be at least 6,500 square feet. The training program will give owners the necessary skills for business operation. The franchisor is looking for candidates with experience as full-service restaurant general manager or equal.
7. Glory Days Grill
- Founded: 1996
- Franchising since: 2004
- Initial investment: $1,696,500 – $2,526,500
- Initial franchise fee: $50,000
- Ongoing royalty fee: 3%
- Net-Worth Requirement: $1,500,000
- Liquid Cash Requirement: $750,000
Glory Days Grill is a sports-themed grill and bar franchise. The franchise restaurants are family-friendly and have televisions with content for all ages and interests. Franchisees will provide a full bar, to-go option, catering and banquet/party services. For single and multi-unit owners, the franchisor offers hands-on support that includes but is not limited by assistance and guidance in Site selection and layout, pre-approved suppliers, operational and management tools. Five years of restaurant management experience is required for candidates or its partner.
8. Woody's Bar-B-Q
- Founded: 1980
- Franchising since: 1989
- Initial investment: $125,000
- Liquid Cash Requirement: $100,000
Woody's Bar-B-Q provides Southern barbecue with secret sauces, side dishes in a relaxed, family atmosphere. The franchise restaurants have a footprint from 2,500 to 3,000 sq. f. and are located in freestanding buildings or strip centers.
The franchisor will provide training, operational manuals, and ongoing support. The restaurant background is not required but will be helpful.
9. Steak-Out Char-Broiled Delivery
- Founded: 1986
- Franchising since: 1988
- Initial investment: $223,100
- Net-Worth Requirement: $379,100
- Liquid Cash Requirement: $223,100
Steak-Out Char-Broiled Delivery specializes in delivery. The franchise menu includes ribeye steaks, chicken, cheeseburgers and sandwiches, salads, desserts, and kid's meals. The company provides single and multi-unit franchise options. Before opening, the franchise owners will attend extensive training. After launching, the franchisor will provide field support and marketing assistance.
10. Texas Roadhouse
- Founded: 1993
- Franchising since:
- Initial investment: $2,790,500 – $4,963,500
- Initial franchise fee: $40,000
- Ongoing royalty fee: 4%
- Liquid Cash Requirement: $200,000
Texas Roadhouse menu is inspired by Southwestern cuisine and includes steaks, ribs, sides, beer, and signature margaritas. The franchise business concept has proven successful in almost 600 locations in the U.S. and seven countries worldwide.
11. Shula's SteakHouse
- Founded: 1989
- Franchising since: 2004
- Initial investment: $1,224,350 – $3,814,500
- Initial franchise fee: $150,000
- Ongoing royalty fee: 9%
Shula's SteakHouse is a fine-dining restaurant that offers its signature premium black angus beef steaks and wine. The franchisor provides six restaurant concepts. The franchise owners will have complete guidance from pre opening training to post opening.
12. Outback Steakhouse
- Founded: 1987
- Franchising since:
- Initial investment:$2,489,700 – $6,065,000
- Initial franchise fee: $40,000
- Ongoing royalty fee: 3,5%
- Liquid Cash Requirement: $500,000
Outback Steakhouse brings Australian vibes to the steakhouse restaurant industry. The franchise has locations in 19 countries.
The franchisor will provide training, operational standards, marketing and ongoing support.
13. Ruth's Chris Steak House
- Initial investment: $2,593,500 – $5,932,500
- Initial franchise fee: $150,000
- Ongoing royalty fee: 5%
- Liquid Cash Requirement: $150,000
Ruth's Chris Steak House is an upscale restaurant franchise. The menu offers steaks complemented by hot and cold side dishes, a full-service bar, and an expansive wine list. The franchise restaurants are located in urban and suburban areas. The qualified franchisees have experience of operation in hospitality systems and have local expertise in consumer preferences and government regulations.
14. Montana Mike's Steakhouse
- Founded: 1998
- Initial investment: $439,000 – $2,700,000
- Initial franchise fee: $20,000
- Net-Worth Requirement: $1,000,000
- Liquid Cash Requirement: $148,000
Montana Mike's Steakhouse is a full-service restaurant with a mountain lodge atmosphere and first-class service. Customers can find on the menu steaks, baby back ribs, chicken-fried steak, and catfish alongside beer and wine. The franchisor provides initial assistance and ongoing support, including a list of suppliers and promotional programs.
15. Keg Steakhouse & Bar
- Founded: 1971
- Initial investment: $2,500,000-$3,250,000
- Initial franchise fee: $50,000
- Ongoing royalty fee: 6%
Keg Steakhouse & Bar, or just the Keg, is a steakhouse restaurant franchise originally from Canada. The distinctive feature of the franchise restaurants that they are located in historic properties. The franchisor provides complete operational support and centralized purchasing. Background in foodservice is not necessary. The ideal candidate is business savvy, knows the market of the area where the restaurant is planning to open, and ready to follow the company’s standards.
16. Great Steak
- Founded: 1982
- Initial investment: $150,900 – $519,050
Great Steak franchise serves its famous cheesesteak sandwich made with grilled sirloin steak. The franchise has two concepts: food court model and in-line restaurant. The franchisor recommends candidates to have managerial experience, while a restaurant background is not required. The franchise owners will be guided through all phases from site selection, construction, training, and day-to-day operation.
17. Mazzio's
- Founded: 1961
- Franchising since: 1990
- Initial investment: $409,000 – $1,292,000
Mazzio's is a fast-casual Italian food restaurant franchise. The franchise restaurants offer pizzas, pasta, salads, desserts available for dine-in, carryout, delivery, or catering. The franchisor is looking for multi-unit development partners. The qualified franchise owners will receive initial training, pre-opening training, and continuous support.
