This cult classic fast-food chain is freezing prices for the rest of 2016
Steak 'n Shake's menu prices are set in stone for the rest of the year.
The 82-year-old chain has announced it will not raise its menu prices for the rest of 2016, in an effort to distinguish itself from the competition.
January ushered in a wave of value deals across the fast-food industry, from Burger King's five for $4 deal to McDonald's McPick 2. However, it seems likely that prices will rise as the year progresses, with a recent Fast Casual industry report finding that 60% of restaurant owners and operators say they plan to increase menu prices to improve profit margins.
The price freeze will include offerings such as the Double Cheese Steakburger 'n Fries for $3.99, milkshakes for $2.99, and all-you-can-eat pancakes for $3.99.
"We operate Steak 'n Shake on a simple principle: If we take care of our customers, our customers will take care of us," Steak 'n Shake CEO Sardar Biglari said in a statement.
Steak 'n Shake is a Midwestern icon, known for its burgers made with T-bone and sirloin. While the chain is best known in the Midwest, there are now more than 500 locations across the US. Under the leadership of Biglari — whose company Biglari Holdings also owns Maxim Magazine — the chain has begun to expand internationally in the recent years, with locations in the United Arab Emirates and Saudi Arabia.
See the top 10 most popular fast food restaurants in America:
- I tried eating like the highest-paid supermodel in the world — and what happened next was terrible
- Consumer and retail news: 10 things you need to know today
- One of the world's largest beer brewers is seeing growth in a surprising area