Steak n Shake Company

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International Guild of Hospitality & Restaurant Managers

500 Century Building
36 S. Pennsylvania Street
Indianapolis , IN 46204

Phone: (317) 633-4100
Fax: (317) 633-4105

The Steak n Shake Company, founded in 1934, is engaged primarily in the ownership, operation and franchising of Steak n Shake restaurants, through its wholly owned subsidiary, Steak n Shake, Operations Inc. As of September 26, 2001 , Steak n Shake had 332 Company-operated restaurants and 56 franchised restaurants, located in 17 midwestern and southeastern states. Steak n Shake restaurants are generally open 24 hours a day, seven days a week, and in addition to the core menu, offer a breakfast menu during breakfast hours.

Steak n Shake restaurants have a distinctive exterior appearance and interior decor. The exterior design of a Steak n Shake restaurant has the individual character of a branded logo, embracing building shape, awning detail, building graphics and pylon signage. The interior decor is reminiscent of the nostalgic diner era using chrome, glass, neon and tile in a contemporary manner. Food preparation takes place in view of the customer. The kitchen area is designed to allow for efficiency of workflow, thereby minimizing the amount of space required.

Steak n Shake operates a distribution center in Bloomington, Illinois, from which food products (except for items purchased by the restaurants locally, such as bakery goods, produce and dairy products) and restaurant supplies are delivered to 101 Company-operated and 16 franchised restaurants located in parts of the Midwest (primarily in Illinois, Missouri and Iowa). Its semi-trailers have the capability to handle refrigerated and frozen products, along with dry goods in the same delivery trip. The remaining Steak n Shake restaurants, located primarily in the Southeast and parts of the Midwest, obtain food products and supplies that meet the Company's quality standards and specifications from an independent distributor with locations in Tampa, Florida, and Bloomington, Indiana.

The Company's franchising program is designed to extend the brand name recognition of Steak n Shake to areas where the Company has no current development plan and to derive additional revenues without substantial investment by the Company. The Company's expansion plan includes selectively seeking new franchisees to help grow the Steak n Shake brand.

As of September 26, 2001, the Company had 56 franchised Steak n Shake restaurants operated by 15 franchisees, located in Georgia, Illinois, Indiana, Kentucky, Mississippi, Missouri, North Carolina and Tennessee. These restaurants are located in areas contiguous to markets in which there are Company-operated restaurants. The Company has commitments from its existing franchisees for the development of additional franchised restaurants.

Disclaimer:
The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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