Things are looking a little shaky (😏) for beloved Midwest diner-style fast food chain Steak ‘n Shake. According to new info released by the International Business Times, the Indianapolis-based burger joint has closed 106—I repeat, 106—stores just this year. But, like, why??
Well, with fast food dives popping up left and right, it’s been pretty difficult to keep the restaurant afloat. But Steak ‘n Shake isn’t going down without a fight. The creative juices started flowing earlier this year when the company’s CEO announced that he could save $1 million by leaving cherries off their milkshakes.
No joke. $1 million for simply forgoing a maraschino cherry makes that much of difference. Steak ‘n Shake’s parent company, Biglari Holding’s Inc., said that the closures are temporary, as they plan to reopen the doors under a new franchise partnership program, according to the Indianapolis Business Journal. The model details a three year roll-out. But, being a franchise partner isn’t so easy. They’ll have to serve up $10,000 right off the bat and then hand over half of their profits to the parent company. Excuse me, what?! I guess that’s business ¯\_(ツ)_/¯.
"Steak n Shake is actively working to identify franchise partners for these closed stores,” the company said in a statement. “However, no assurances can be given that Steak n Shake will be able to secure suitable franchise partners or that its strategy will restore profitability," Biglaria told IBT.
Well, here’s to hoping that Steak ‘n Shake lives on because honestly, a world without their steakburgers is not a world I want to live in.
