Profile

Biglari Holdings Inc. is an American holding company headquartered in San Antonio, Texas founded by entrepreneur Sardar Biglari. Its major subsidiaries include Steak 'n Shake, Maxim magazine, First Guard Insurance, and Western Sizzlin'. In August 2008, Biglari took over Steak n Shake, which had been losing more than $100,000 a day. Biglari turned the company around from near insolvency to one making more than $100,000 a day. By 2015, the company had attained 24 consecutive quarters of same-store sales increases under Biglari. However, for fiscal 2017 and 2018, the Steak n Shake division had returned to same-store sales contraction. The company is now selling “franchises” claiming they will split profits 50% / 50% with the investors who put in $10,000.