This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Any offer to sell a franchise by Steak ‘n Shake Enterprises, Inc. (“Steak ‘n Shake”) will be made only after individuals have completed a Steak ‘n Shake franchise application and qualified to receive a Franchise Disclosure Document. Other qualifications will apply in determining whether you will be offered a Steak ‘n Shake franchise. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of or want to locate a franchise in one of these states, we will not offer you a franchise unless or until we have complied with applicable pre-sale registration and disclosure requirements in your state.

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