Charleys Philly Steaks Franchise FDD, Profits & Costs
Charleys Philly Steaks was founded by Charley Shin in 1986 as a single cheesesteak shop near Ohio State University.
Based in Columbus, Ohio, it has grown into the largest cheesesteak franchise globally. Charleys now operates over 700 locations in the U.S. and 17 countries. The brand began franchising in 1991, offering a scalable and successful business model.
Charleys specializes in made-to-order Philly cheesesteaks, using 100% USDA choice steak or all-white meat chicken.
Initial Investment
How much does it cost to start a Charleys Philly Steaks franchise? It costs on average between $203,000 - $1,004,000 to start a Charleys Philly Steaks franchised restaurant.
This includes costs for construction, equipment, inventory, and initial operating expenses. The exact amount depends on various factors, including the type of restaurant you choose, the location, and whether the franchisee chooses to lease or purchase the property.
Charleys Philly Steaks offers 3 investment options:
| Type of Restaurant | Initial Investment Range |
|---|---|
| CPS Restaurant | $203,492 to $696,266 |
| CPSW Restaurant | $202,690 to $1,004,447 |
| CPSW Restaurant in a Walmart Location | $252,061 to $646,224 |
The detailed investment estimate below summarizes the estimated initial investment for a CPS Restaurant.
For more information on the costs required to start a Charleys Philly Steaks franchise, refer to the Franchise Disclosure Document (Item 7).
| Type of Expenditure | Amount |
|---|---|
| Initial Franchise Fee | $24,500 |
| Leasehold Improvements | $50,000 to $329,000 |
| Equipment/Furniture/Fixtures | $50,931 to $145,000 |
| POS and Kiosk System | $12,711 to $15,766 |
| Signage | $5,000 to $20,000 |
| Architect & Engineer | $8,000 to $16,000 |
| Travel and Living Expenses Associated With Initial Training | $4,000 to $8,000 |
| Insurance | $3,850 to $11,000 |
| Deposits and Professional Fees | $1,000 to $7,000 |
| Real Estate Lease | $12,500 to $80,000 |
| Grand Opening Marketing Kit | $7,000 to $10,000 |
| Additional Funds – 3 Month Period | $24,000 to $30,000 |
| Total Estimated Initial Investment | $203,492 to $696,266 |
Average Revenue (AUV)
How much revenue can you make with a Charleys Philly Steaks franchise? A Charleys Philly Steaks franchised restaurant makes on average $743,000 in revenue (AUV) per year.
Here is the extract from the Franchise Disclosure Document:
Charleys Philly Steaks Franchise Disclosure Document
Frequently Asked Questions
What funding options are available for a Charleys Philly Steaks franchise?
Most franchise buyers in Charleys Philly Steakss investment range finance their unit through an SBA 7(a) loan, with some multi-unit operators using SBA 504 loans. Buyers with rollable retirement funds sometimes use a ROBS structure. See SharpSheets financial model hub for guidance.
How long does it take to pay back a Charleys Philly Steaks franchise investment?
Payback periods typically run 3-7 years depending on investment level, location performance, and financing structure. Actual payback varies significantly by unit performance and debt service obligations.
Who owns Charleys Philly Steaks?
Charleys Philly Steaks is owned by Charley Shin, who founded the company in 1986. Charley Shin started the business after discovering Philly cheesesteaks during a trip to New York City. The parent company of Charleys Philly Steaks is Gosh Enterprises, Inc., which also owns other brands like Bibibop Asian Grill.
SharpSheets Editorial Team | sharpsheets.io | Last Updated: July 2026
Disclaimer
Disclaimer: This content has been made for informational and educational purposes only. SharpSheets is an independent educational resource and is not affiliated with, endorsed by, or representing any franchisor mentioned on this website. Where noted, figures are taken from the franchisor’s Franchise Disclosure Document (FDD). In some cases, we may provide independent calculations or estimates based on publicly available information. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.
All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial and/or legal advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.
