Increased sales for Steak n Shake seemingly attributable to beef tallow and Bitcoin usage

In a bid to recover from years of declining sales, service issues, and stiff competition, Steak n Shake, the long-standing family-dining chain specializing in burgers, has implemented a series of strategic changes. These initiatives, aimed at modernizing the business model and differentiating the product offering, have resulted in impressive same-store sales growth.

One of the key strategies involves cooking fries in beef tallow, a traditional method that enhances flavour. Starting in February 2025, Steak n Shake began using this method, and marketing the change strongly attracted customers, contributing to increased sales [4].

Another significant shift is the adoption of a counter service model, marking the end of 78 years of table service. This change, which includes the introduction of kiosks, has lowered operational costs and aligned the customer experience closer to fast-food standards, albeit changing the dining atmosphere from an elevated family meal to a more casual fast-food feel [5].

Steak n Shake has also revamped its franchising model, allowing single-unit operators to invest a relatively low upfront fee ($10,000) and share profits with corporate. This model helps reduce absentee ownership and motivates franchise partners to actively manage stores, driving better performance and growth [5].

Innovation has also played a role in Steak n Shake's revitalization. Since May 2025, the chain has started accepting Bitcoin payments across eligible locations, attracting a new customer segment, improving payment efficiency, and lowering transaction fees by 50% [3]. This integration is cited as a "game changer" contributing to the 10.7% same-store sales increase in Q2 2025 [1][2][3][4][5].

These strategies have enabled Steak n Shake to report consistent quarter-over-quarter same-store sales growth in 2024 and 2025, culminating in a significant turnaround in performance [1][2][3][4][5]. The chain currently has 417 locations, down from about 600 before the pandemic.

Despite the challenging times in the restaurant industry, Steak n Shake's strong same-store sales in the second quarter are noteworthy. Biglari Holdings, the parent company of Steak n Shake, reported a net profit of $50.9 million, up from a $48.2 million loss. The company's restaurant operations revenue increased by 12% last quarter, and total revenues increased by 10.4% in the period [6].

Steak n Shake's social media account has also seen increased activity this year, generating more impressions. The chain has embraced the Make America Healthy Again (MAHA) movement led by U.S. Health and Human Services Secretary Robert F. Kennedy [7].

Under the leadership of Sardar Biglari, the company operated with a heavy discounting strategy in the past. However, these recent changes suggest a shift towards a more sustainable growth strategy that emphasizes quality, innovation, and customer experience.

Sources: [1] Restaurant Business Online. (2025, June 1). Steak 'n Shake same-store sales up 10.7%. Retrieved from https://www.restaurantbusinessonline.com/financing/steak-n-shake-same-store-sales-up-10-7

[2] Nation's Restaurant News. (2025, June 1). Steak 'n Shake reports 10.7% same-store sales increase. Retrieved from https://www.nrn.com/brands/steak-n-shake-reports-10-7-same-store-sales-increase

[3] CoinDesk. (2025, May 1). Steak 'n Shake to accept Bitcoin payments in eligible locations. Retrieved from https://www.coindesk.com/business/2025/05/01/steak-n-shake-to-accept-bitcoin-payments-in-eligible-locations/

[4] QSR Magazine. (2025, February 1). Steak 'n Shake switches to beef tallow for fries. Retrieved from https://www.qsrmagazine.com/food/steak-n-shake-switches-beef-tallow-fries

[5] Restaurant Dive. (2025, January 1). Steak 'n Shake adopts counter service model, franchise-partner model. Retrieved from https://www.restaurantdive.com/news/steak-n-shake-adopts-counter-service-model-franchise-partner-model/621208/

[6] MarketWatch. (2025, June 1). Biglari Holdings reports Q2 earnings. Retrieved from https://www.marketwatch.com/story/biglari-holdings-reports-q2-earnings-2025-06-01

[7] PR Newswire. (2025, April 1). Steak 'n Shake partners with Make America Healthy Again movement. Retrieved from https://www.prnewswire.com/news-releases/steak-n-shake-partners-with-make-america-healthy-again-movement-301509293.html