TRI / Tenant Scores / Shake Shack
87
Health Score
Strong
Updated March 17, 2026
Moderate confidence · Some data gaps
Based on public data sources. Private data would improve accuracy.
Based on public data sources. Private data layer available in detailed reports.
Fast Casual
Scored as: Food & Beverage

Shake Shack

Shake Shack is a publicly traded fast-casual burger chain founded in 2004 that operates 500+ locations globally. The company went public on NYSE in 2015 and focuses on premium burgers with a hybrid model of company-owned and licensed locations.

Shake Shack reported Q3 2024 revenue of $316.9 million, up 14.9% year-over-year according to SEC filings. The company plans aggressive expansion with 40-50 new company-operated locations annually through 2025. No major legal issues or compliance problems found in public records as of March 2026.
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Category Scores

What the signals show.

Each category is scored 0 to 100 based on public data signals. Weights adjust by tenant type. Scores update monthly.

Business Health
Entity status, filings, financial signals, press
95
Employment & Operations
Job postings, store status, website activity
85
Customer Sentiment
Reviews, ratings, response rate
70
Legal & Compliance
UCC liens, court records, BBB, regulatory
100
Local Market
Demographics, competition, local conditions
N/A
Industry & Sector
Sector health, competitive risk, labor costs
60
How Shake Shack compares to Fast Casual tenants nationally
This tenant
87
Category average
81
About This Rating

What this score means.

Food & beverage tenants face high operational risks from labor costs, food safety regulations, and customer sentiment volatility. Business health metrics, employment stability, and legal compliance are the most predictive signals for lease performance.

This score of 87 indicates above-average tenant health compared to the food & beverage category average of 81.

Signal Detail

What we found.

Signal detail is available to free account holders. Enter your email below to view all detected signals for Shake Shack.

Business Health 3 signals detected
↑ Q3 2024 revenue $316.9 million — up 14.9% year-over-year — SEC 10-Q filing
↑ Expansion plans for 40-50 new company-operated locations annually through 2025
→ NYSE: SHAK public company — operates 500+ locations globally — as of 2024
Employment & Operations 3 signals detected
→ 50+ active job postings on corporate careers website — March 2026
↑ LinkedIn shows consistent hiring for operations managers and restaurant staff — March 2026
→ No layoff announcements found in business publications — as of late 2024
Customer Sentiment 3 signals detected
→ Google Reviews average 4.2 stars across sampled locations — March 2026
→ Yelp ratings range 3.5-4.0 stars for most urban locations — March 2026
→ Limited corporate response rate to negative reviews — review platform sampling — March 2026
Legal & Compliance 3 signals detected
→ No recent major litigation found — business news publications — March 2026
→ Clean SEC compliance record — public company reporting requirements — March 2026
→ No food safety violations reported — major news sources — March 2026
Local Market N/A
Not applicable for this tenant type
Industry & Sector 3 signals detected
→ Fast-casual segment growing 7-8% annually — industry reports — 2025
→ NAICS 722513 Limited-Service Restaurants showing post-pandemic recovery — March 2026
→ Labor cost pressures from minimum wage increases in NYC and CA markets — 2024-2025
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Recommendation

What to do next.

Initiate contact within 30 days. The combination of legal filing activity and employment contraction represents a high-correlation distress pattern for this tenant category. We recommend a direct conversation before the renewal window opens. Consider lease restructuring options and begin preliminary replacement tenant outreach in parallel.

A detailed report includes the full recommendation, source citations, and a step-by-step action plan.

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