- 2024 Franchise 500 Rank
-
#76 Ranked #89 last year
- Initial investment
-
$200K - $907K
- Units as of 2023
-
783 25.1% over 3 years
Since its founding in 1986 and subsequent franchising in 1991, Charleys Philly Steaks has grown into more than 700 locations, with legions of diehard fans across the country. Charleys Philly Steaks strives to offer 100% USDA choice steak, a no-frills menu, and unparalleled customer service. Charleys Philly Steaks is one of the biggest Philly steaks franchises in the country.
Intending to hit 3,000 stores, Charleys Philly Steaks has an ambitious plan. It is always looking for new franchisees to help it reach its goal. Franchise reinvestments are responsible for more than half of its growth, so if you’re looking for a tested and proven business opportunity, Charleys Philly Steaks may be a catch.
Why You May Want to Start a Charleys Philly Steaks Franchise
Charleys Philly Steaks strives to offer new restaurant aesthetics, innovative offerings, organized operations, and above-standard franchise training, Charleys Philly Steaks is ready to take you to the top.
Charleys Philly Steaks has the most significant advantage with its standout menu--a sure cut above the usual chicken, pizza, and burger trio that competitors seem to be stuck with. Charleys Philly Steaks targets the core of the otherwise underserved authentic Philly steak that diners demand.
Suppose you’re looking for a business that offers a favorite yet rarely served comfort food, with delivery, curbside pick-up, and all the necessary features of a modern QSR. In that case, Charleys Philly Steaks may be the franchise you wish to open.
What Might Make a Charleys Philly Steaks Franchise a Good Choice?
Charleys Philly Steaks has been ranked in Entrepreneur’s Franchise 500 many times in the past several decades. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
To be part of the Charleys Philly Steaks team, you should make sure you’re financially ready for an initial investment that will include a franchise fee and other startup costs. You should also prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees.
As you ponder if opening a Charleys Philly Steaks franchise is the right decision for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Charleys Philly Steaks franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
How to Open a Charleys Philly Steaks Franchise
To get started, submit an inquiry form. Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you.
Speak to existing franchisees and ask questions to the Charleys Philly Steaks team. If your net worth and available liquid capital match the brand’s requirements, you may qualify to open a Charleys Philly Steaks franchise, and you can get started with an initial investment. The Charleys Philly Steaks team may teach you tips and tricks while providing comprehensive training at company headquarters in Columbus, Ohio office until you’re ready to roll out your own Charleys Philly Steaks franchise.
Company Overview
About Charleys Cheesesteaks & Wings
| Industry | Food |
|---|---|
| Related Categories | Philly Cheesesteak Sandwiches, Sandwiches |
| Founded | 1986 |
| Parent Company | Gosh Enterprises Inc. |
| Leadership | Candra Alisiswanto, EVP |
| Corporate Address |
5000 Arlington Centre Blvd., #5300 Columbus, OH 43220 |
| Social | Facebook, Twitter, LinkedIn, Instagram |
Business Overview
| Franchising Since | 1991 (33 years) |
|---|---|
| # of employees at HQ | 100 |
| Where seeking |
This company is offering new franchises throughout the US. |
| # of Units | 783 (as of 2023) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Charleys Cheesesteaks & Wings franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$24,500 |
|---|---|
|
Initial Investment
|
$199,967 - $907,012 |
|
Net Worth Requirement
|
$500,000 |
|
Cash Requirement
|
$175,000 |
|
Veteran Incentives
|
50% off franchise fee |
|
Royalty Fee
|
6% |
|
Ad Royalty Fee
|
1% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | Charleys Cheesesteaks & Wings has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 95 hours |
|---|---|
| Classroom Training | 55 hours |
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 20 |
|
Are exclusive territories available?
|
No |
Franchise 500 Ranking History
Compare where Charleys Cheesesteaks & Wings landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Charleys Cheesesteaks & Wings ranked on other franchise lists? Find out below.
Ranked #1 in Philly Cheesesteak Sandwiches in 2024
Best of the Best
Ranked #76 in 2024
Franchise 500
Ranked #34 in 2024
Fastest-Growing Franchises
Ranked #1 in Philly Cheesesteak Sandwiches in 2022
Top Food Franchises
Ranked #15 in 2023
Top Brands for Multi-Unit Owners
Ranked #54 in 2023
Top Franchises For Veterans
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