Folk's Folly Prime Steak House

The Restaurant

Folk's Folly opened in 1977, when Humphrey Folk Jr. — a Memphis cattleman with no restaurant experience — bought a bungalow at 551 South Mendenhall Road and turned it into the city's first dedicated prime steakhouse. The name was a joke at his own expense: nobody believed a steakhouse could survive in a barbecue town. Nearly fifty years on it is the city's senior special-occasion address, and the joke is on the doubters. Folk brought in Thomas Boggs as operating partner in 2003 and died in 2006; the room still feels like his.

The cooking is unfussy by design. Executive chef Tom Hughes sources USDA Prime from Chicago's century-old Stock Yards and treats it with restraint — his stated recipe is salt, pepper, the steak, and clarified butter on the hot plate, which is the whole philosophy of a serious steakhouse in one sentence. The petite filet runs about $36, and the bigger cuts climb from there. But the dish that has kept Memphis loyal for half a century is not a steak at all. It is the fried lobster, the one order regulars make without opening the menu.

The room is clubby and low-lit: wood panelling, white tablecloths, brass, candlelight, a warren of small dining rooms rather than one big hall. Downstairs, the Cellar piano bar opens early and runs late, a separate space with live music that has hosted more Memphis business and political talk than most boardrooms. Dress is smart with a jacket recommended, the noise level is conversation-easy, and the service is generational — the kind where the captain remembers your father.

Frequently Asked

Is Folk's Folly worth it?

Yes, if you want the real Memphis institution rather than a national chain. Folk's Folly has been the city's prime steakhouse since 1977, the beef is USDA Prime from Chicago's Stock Yards, and chef Tom Hughes keeps the philosophy plain: salt, pepper, the steak, and clarified butter on a hot plate. It is not cheap at $95–$200 a head, but it is the genuine article.

What should I order at Folk's Folly?

Skip the steak-snob debate and order the fried lobster — it is the dish locals have come back for since the 1970s. Beyond that, the petite filet runs about $36 and the larger prime cuts climb from there. Finish downstairs in the Cellar piano bar. If you try one non-steak plate, make it the lobster.

How much does dinner cost?

Budget roughly $95 to $200 per person with a starter, a steak and a glass of wine. The petite filet is around $36 before sides, which are à la carte and add up fast at any prime steakhouse. It is special-occasion pricing, not an everyday number, which is exactly why it works for a business dinner someone else is paying for.

Do I need a reservation?

Yes. Book two to three weeks ahead for a weekend table, sooner around graduations and the December holidays when Memphis families fill it for milestone dinners. A jacket is recommended but not strictly required. The downstairs Cellar piano bar opens earlier and is the place to land if the dining room is full.

Is it good for a business dinner?

It is East Memphis's default deal-closing steakhouse. The wood-panelled rooms give the table gravity without intimidating a guest, the menu needs no decoding, and the Cellar piano bar handles the after-dinner conversation in a quieter room. See the full Memphis dining guide and our best restaurants to close a deal for alternatives.