Best bet is cleaning and lubrication... Both the owner's manual on my Kwick Step, and the dealer at the time of delivery stressed the importance of lubrication of the step, they really stressed it, and stressed it some more
I'd take a can of Kwick Lub and go at it, work the step manually, and go at it See if it improves, Also do a visual inspection to make sure nothing is bent, damaged, way too rusted (Wrie brush rust off) or blocked by something that does not belong there.
One thing it's likely not is an adjustment