Steak n Shake Enterprises vs Tim Ho Wan International Pte. Ltd.Tim Ho Wan

Two franchise systems, side by side. For a software vendor, they are not the same opportunity.

More open target
Steak n Shake Enterprises
wins 1 of 12 vendor rows

Steak n Shake’s approved-supplier procurement model hands us the terrain we need to sell straight to franchisees. Tim Ho Wan’s franchisor-controlled buying means every deal funnels through a single, likely unreceptive corporate gate—so even if their unit economics were stronger, we’d be locked out. Steak n Shake’s 266 franchised locations give us a direct, addressable base of independent operators who can adopt POS, marketing, scheduling, and back-office tools without waiting for head-office blessing. That open procurement converts a fragmented buyer landscape into usable TAM today, not a pipeline full of permission-seeking dead ends

full_service_restaurant
Steak n Shake Enterprises
full_service_restaurant
Tim Ho Wan International Pte. Ltd.Tim Ho Wan
Total units
406
Franchised units
266
Unit growth YoY
-8.904%
Average unit revenue (AUV)
$1.82M
Royalty
5%
Ad fund
1%
Initial franchise fee
$25K
Investment range (low)
$1.21M
Investment range (high)
$2.70M
Procurement model
Approved supplier
Franchisor controlled
FDD fiscal year
2025
2025
Filing freshness
DUE
DUE

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