000411 Steak Escape Signs Deal to Open 100 Stores

Columbus, OH - Steak Escape, America's Favorite Cheesesteak, has just signed one of the largest development agreements in the history of American franchising. The plan calls for 100 stores to be opened in Colorado and California within the next 10 years.

The area developer is Giesen Restaurant Enterprises, LLC, owned by David Giesen. Plans include units in Denver, San Francisco County, San Mateo County, Orange County, and Los Angeles County. Giesen currently owns and operates six Steak Escape restaurants, including the system's highest grossing store at the Denver International Airport. Prior to the 100-unit deal, Giesen Enterprises already had several Steak Escape restaurants under development in San Francisco Center and Mission Viejo Mall in California and Flatiron Crossing in Broomfield, Colorado.

Steak Escape features a genuine grilled Philadelphia Cheesesteak sandwich prepared to order with fresh ingredients and in full view of customers. They also serve fresh grilled salads, as well as ham, turkey, and chicken sandwiches with exclusive “Smashed Potatoes,” Freshly-cut French Fries, and Freshly- Squeezed Lemonade. Each restaurant is designed so customers can enjoy interaction with the staff while their food is being prepared to order.

“Steak Escape is definitely on a roll,” says Tony Foster, Vice President of Development for Steak Escape. “This has been a banner year of growth, since we already have signed contracts for 134 new stores. We will open 45 new stores this year, and there are 65 more under development for next year, with an emphasis on freestanding units.

“We've mastered the art of serving freshly-prepared food -- offering customers excellent quality and value -- and rapid service at the same time. For almost two decades, we've been providing that quality, value, and service to our customers, plus outstanding support to our franchisees. Our franchisees also benefit from delicious lunch and dinner staples that bring customers back again and again. It's a winning combination.”

Steak Escape was originally developed in 1982 by Ken Smith and Mark Turner, two natives of the east coast, who were quick to realize that the Philadelphia cheesesteak has a broad appeal. Today there are more than 150 franchised Steak Escape units in traditional as well as non-traditional locations in malls, airports, college campuses, convenience stores, strip centers, and freestanding units in 30 states. In fact, Steak Escape's expansion has now included not only the US, but also the Middle and the Far East as well.

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