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Home > Franchises > Great Steak & Potato Co.
Great Steak & Potato Co.
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
Nicola J. Lanni opened the first Great Steak and Potato Company store in Dayton, Ohio, in 1982. The stores menus include Philadelphia Cheesesteak sandwiches, fresh-cut French fries, chicken and baked Idaho potatoes. The signature cheesesteak sandwich is prepared with grilled choice sirloin steak and onions, melted Provolone cheese, mayonnaise, lettuce and tomato on a warm bun. Every item is grilled and prepared to order in front of the customer.
The Great Steak & Potato Company has locations across the United States, as well as in Canada and the Middle East. It is owned by the Kahala Corporation, franchisor of Frullati Café and Bakery, Surf City Squeeze, Ranch 1, Samurai Sam's, Rollerz and Taco Time. Kahala Corp is a privately held corporation dedicated to the franchising, development, and marketing of quick-service restaurants.
Franchisor is a privately held company with 18 employees and 11 employees in franchise department. Great Steak & Potato Company is the Fast-food chain specializing in cheesesteaks, chicken and potatoes. The costs & fees include total investment is 147000 to 433.5000 dollars, express or kiosk option available, franchise fee is 30000 dollars, ongoing royalty fee is 6 percent, term of agreement is 10 years, renewable, renewal fee is 5000 dollars.
The Great Steak ranked 255 in 2006, 365 in 2004, 120 in 2003, and 163 in 2002 and ranked 1 in category in 2003. Kahala Corp is unique as no other restaurant franchisor offers the concept variety and co and tri-branding opportunities. The co-branding presents a unique business opportunity that keeps occupancy costs down while increasing daypart opportunities and average check amounts. This results in higher unit volume and increased profitability for Kahala Corp franchisees.
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