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I'm not from US. Are they sparse?
Yeah they aren’t a major player in the fast food industry in America.
That's surprising. It was a really pleasant experience all around.
They used to be bigger, have closed a few hundred locations since their peak. Look up Sardar Biglari, he radically changed their business (from dine in to fast food, etc) with some controversial approaches (like misleading franchisees when they sold off corporate locations). He's also why Steak n Shake went after Cracker Barrel and their logo change (despite SnS doing exactly the same thing), because he has been trying to do a hostile take over for 15 years and wanted to lower their stock price more. Biglari knows how to pander to certain crowds at opportune moments to accomplish his ambitions. It's why Steak N Shake went down the Bitcoin, MAHA, conservative politics path. It's actually just marketing, nothing more.
So we can expect a pivot once Gavin Newsome wins the presidency in 2028?
Not a chance, because who is president doesn't matter. SNS and Biglari found a crowd and niche they can pander to. It will never get them to be a huge player in the QSR game (ie the scale of McD/Wendy/BK, etc) but it's enough to keep them alive. Which is what they needed after floundering for years.
Jelly