Steak n Shake Co. - 2001 Specimen Stock Certificate

Specimen Stock printed by American Bank Note Company.

Steak 'n Shake Operations, Inc. (doing business as Steak 'n Shake) is an American casual restaurant chain concentrated primarily in the Midwestern United States with locations also in the South, Mid-Atlantic, Western United States, Europe, and the Middle East. The company is headquartered in Indianapolis, Indiana and is a wholly owned subsidiary of Biglari Holdings. As of 2018, 628 Steak 'n Shake restaurants were in operation; of those 414 were corporate-owned, and 214 franchised. The company has since attempted to convert to a fully franchised model. Restaurant locations have sit-down, drive-thru, and front-window service; they provide a hybrid of fast-food to-go and diner-style sit-down service. In 2021, the company had 536 locations, but the number had dropped to 493 by March 31, 2023, according to Biglari Holdings; not all of those were in operation at that time. The business model had been shifting away from full-service restaurants as well, toward a drive-thru model and to "counter-service ... featuring kiosks". Many locations are open 24 hours a day, seven days per week. The menu features primarily burgers and hand-dipped milkshakes; other entrees, side items, and drinks are also available. The corporation's slogan, "Famous for Steakburgers", refers to its most prominent food item, the Steakburger. The "steak" in the restaurant name comes from the menu item. Read more at https://en.wikipedia.org/wiki/Steak_%27n_Shake