James Medlock used to talk about changes he’d make at Steak-Out if he were an emperor.
Coworkers at the steak delivery shop thought he was joking. But, except for the part about being an emperor, he wasn’t.
The Springfield resident, who has worked at Steak-Out for more than 13 years, recently purchased the franchise with fellow worker Jeff Prantl.
The two are already making changes. Improvements include a new integrated payment system, ice-filled coolers to pack cold drinks and more employees to handle orders at peak times.
“It grew crazy,” said Medlock, 32, of business after the ownership change in late July.
Bill Brandt, who brought the business to Springfield in 1993, has shifted his focus to an accounting business. Brandt said he’s confident in the new owners.
“Anytime you buy a business, you’re excited,” he said. “Because of the excitement, you work harder, and you will be able to do a good job with the business.”
Medlock and Prantl, 33, already put in long hours with the new venture. But, they want to grow the business by adding new locations.
Steak-Out is at 550 E. Chestnut Expressway. Medlock said the partners hope to open a second shop on the city’s south side in 2008.
A couple of years after moving from Neosho to Springfield, Medlock started working in 1993 as a delivery driver at Steak-Out. Throughout the years, Medlock said he worked every job at the business.
Prantl, who has worked at the delivery shop for nearly 9 1/2 years, said his first job at Steak-Out was to take phone orders.
Both later worked their way up to become managers.
Prantl joked with Medlock about being emperors and making changes but never took the talk seriously.
Medlock said he was serious because he saw potential for the business to grow in the Ozarks.
Four years ago, Brandt offered to sell the business. At that time, Medlock said the asking price was beyond his reach.
Last year, Brandt lowered his price, and Medlock asked Prantl to join him.
“We know Steak-Out,” Prantl said. “It’s easy to take it over, just more paperwork.”
Brandt said he also felt “totally comfortable” selling the franchise to the two.
“Because they both worked there,” Brandt said. “I thought it just made sense.”
With personal savings and loans, Medlock and Prantl bought the business July 31.
The final sale price was not disclosed. The company’s Web site estimated the cost for a new turn-key Steak-Out franchise at $265,500 to $449,500.
Brandt now works as the accountant for the business. He is also the landlord of the real estate property for the business.
Operations turn out to be easy for the new owners.
“We can do it in our sleep,” Medlock said.
But they are learning to cope with the hassles that come with making decisions as owners.
For example, Medlock said they are installing a system to integrate payment processing and ordering but have yet to work out the glitches.
“We’ve spent hours with tech support,” Medlock said.
Medlock said customer service is key. He has added more employees, and the measure is paying off.
“When you keep a lot of people, the labor cost actually is lower because we are doing more business with better service,” Medlock said.
By Didi Tang for News-Leader.com