Steak-Out employees buy out local franchisee

James Medlock and Jeff Prantl purchased the business July 30 from Bill Brandt, who opened the 550 E. Chestnut Expressway location in 1992. Medlock would not disclose a purchase price. Brandt sold the restaurant franchise to pursue his plans to open an accounting firm, William P. Brandt Accounting & Tax, Medlock said.

Steak-Out, based in Atlanta, offers carry-out and delivery of made-to-order grill foods, including steaks, chicken, salmon and cheeseburgers. The local franchise also does catering – an area Medlock says the owners plan to expand.

Medlock and Prantl hope to punch up sales, which have stagnated around $1.2 million annually, Medlock said. Their goal is to reach $2 million per year.

After the duo gets on its feet, Medlock says it’ll be necessary to open a south Springfield location, with the possibility of a third restaurant. The added locations will shorten delivery routes – and cut gasoline expenses – as well as expand the company’s service area, currently bound by Battlefield Road, Highway 65, West Bypass and Springfield’s north city limit.