See more
Are SONIC's franchised?
Sonic Drive-In has over 3,500 locations nationwide, almost 90% of which are franchised. The franchise offering comes in two different formats: traditional and non-traditional. Traditional franchises come with a 20-year term and a 10-year renewal opportunity with a $45,000 franchise fee requirement.
Is SONIC a franchise or corporate owned?
SONIC's Parent Company SONIC is owned by Atlanta's Inspire Brands, a privately held multi-brand restaurant franchise organization with a footprint approaching 10,000 units across its Arby's, Buffalo Wild Wings, SONIC Drive-In brands.
How much is it to open a SONIC franchise?
The license fee for a traditional SONIC restaurant is $45,000, with a total investment ranging from $1,242,200 to $3,537,700 (excluding land). The license fee for a non-traditional SONIC restaurant is $22,500, with a total investment ranging from $361,900 to $978,700 (excluding land).
How many Sonics are franchised?
There are 3,251 restaurants owned and operated by franchisees and 271 were owned and operated by an affiliate of Sonic.
How much does a Sonic owner make a year?
Average Sonic Drive-In Owner Operator Driver yearly pay in the United States is approximately $68,269, which is 66% below the national average. Salary information comes from 21 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
Is Subway a franchise?
SUBWAY® has an Independent Purchasing Cooperative (IPC). IPC is a franchisee-owned and operated purchasing cooperative that negotiates the lowest costs for goods and services while maintaining quality, standards and ensuring the best value for SUBWAY® franchisees.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
How much does it cost to put in a Sonic?
To operate a Sonic Drive-In, you're required to have a liquid capital of $500,000 and a minimum net worth of $1,000,000. The estimated investment to open a traditional Sonic Drive-In is $1,242,200 to $3,537,700. The franchise fee for a traditional unit is $45,000.
How much does a McDonald's franchise cost?
McDonald's franchisee applicants must have a minimum of $500,000 available in liquid assets and pay a $45,000 franchise fee. Those looking to launch a new McDonald's franchise can expect to shell out between $1,314,500 and $2,306,500. Existing franchise prices can cost upwards of $1 million or more.
What is the cost of a Starbucks franchise?
What are the Financial requirements for a Starbucks licensed store? You need to pay the licensing fee of between $50,000 – $315,000 and you must have over $1,000,000 in liquid assets to be considered for a licensed store by Starbucks.
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
What is the franchise fee for Dunkin Donuts?
Here is a breakdown and ranges of the financial requirements to open a Dunkin' franchise: Total investment range: $97,500 to $1.7 million. Initial franchise fee: $40,000 to $90,000 (varies by location) Net worth: $500,000 minimum.
Is McDonald's a franchise or corporation?
McDonald's has been a franchising company since 1955 and has relied on its franchisees to play a major role in the system's success. Currently, about 95% of all U.S. restaurants are franchised to independent franchisees and about 5% are company-owned.
Is Sonic privately owned?
The sale takes Sonic out of the publicly traded-market and makes it a privately-owned fast food chain, as Inspire Brands is under the control of private equity firm Roark Capital. According to CNBC, that gives the business a fast food empire of more than 8,000 restaurants valued at $12 billion total.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
How much does a McDonald's franchise cost?
McDonald's franchisee applicants must have a minimum of $500,000 available in liquid assets and pay a $45,000 franchise fee. Those looking to launch a new McDonald's franchise can expect to shell out between $1,314,500 and $2,306,500. Existing franchise prices can cost upwards of $1 million or more.
What is SONIC corporate office?
SONIC’s corporate office has a full support team and services available to franchisees, such as helpful demographic data and in-depth site analytics, to make the entire site selection and construction process as smooth and profitable as possible for franchisees.
How many locations does Sonic have?
SONIC ® is America’s drive-in, serving more than 3 million customers a day at over 3,500 locations nationwide. We’re an iconic brand with a rich heritage that encompasses 60 years; we believe in excellent customer service and developing core relationships with our customers and the communities in which we operate.
How long does it take to get a SONIC site secured?
The term of a traditional SONIC franchise is 20 years, plus a 10-year renewal. It typically takes six to eight months to get a SONIC site secured.
When was Sonic founded?
Founded in 1953, SONIC franchises have risen from humble origins to one of the most instantly recognizable brands in the nation, with over 3,500 locations open from coast to coast and millions of fans who make SONIC a part of their daily lives.
What is a sonic?
This is designed to increase customer awareness of the SONIC brand and our delicious food and drink variety, nationwide. SONIC's branding efforts are immediately recognizable and memorable, working on multiple levels to drive sales and build guest loyalty. Our ad campaigns focus on our food and drink and fits well with social media initiatives.
What is SONIC Cornerstone LMS?
SONIC Cornerstone LMS is a great example of how SONIC embraces technology to engage today's busy franchisees and SONIC staffers. SONIC provides certified training courses online such as operations, food safety, customer service and management training for our new and existing franchisee community.
What is a SONIC conversion model?
SONIC Conversion Model: We can work with franchisees to convert existing restaurant facilities into a SONIC restaurant in the most cost-effective way possible, utilizing the existing kitchen, dining area and patron restrooms facilities.
What is a Sonic drive in?
SONIC Drive-In is an iconic brand with more than 65 years of rich heritage of innovation. We serve a diverse menu which includes five-dayparts (breakfast, lunch, afternoon, dinner, and evening) that keeps guests coming to SONIC all day long. SONIC offers limitless possibilities for our guests, allowing for customizations and more than one million drink options. With our order-ahead mobile app, we've taken customization one step further by allowing our guests the full customization experience on their smartphones. The SONIC experience can be nearly contactless for guests, from ordering, to payment, to dining.
How many stalls are there in a SONIC drive in?
SONIC Traditional Drive-In Franchise: Our original drive-in model is the core of our business. This standard store layout typically features 16 to 24 drive-in stalls, patio seating and requires a site that is approximately ¾ of an acre for optimum build-out.
Where is the Sonic Drive-In located?
The updated look provides a fun and inviting space for guests to enjoy a moment of carefree bliss in their daily routine. Located in Tahlequah, Oklahoma, the first of the newly designed drive-ins features 18 docks, a drive-thru and a covered outdoor patio, where guests can dine under string lights and enjoy lawn games.
Where is Sonic located?
The drive-in restaurant experienced success as soon as it opened, and right after, Smith Sr. brought in the franchise’s new partner – Charlie Pappe. The partners decided to begin franchising in 1959, in order to continue expanding Sonic Drive-In’s business model of selling unique hot dogs, burgers, chicken sandwiches, tater tots, onion rings and breakfast items to its customers. 67 years later, Sonic now has over 3,400 restaurants located across 46 U.S. States. The company is currently headquartered in Oklahoma City and is led by its Chief Executive Officer, J. Clifford Hudson, who was been with the company since April 1995.
Is the Sonic Franchise Profit Worth the Franchise Cost?
To assign a valuation multiple for Sonic franchises, we leverage estimates from DealStats, a database of acquired private company transactions sourced from U.S. business brokers and SEC filings. We reviewed the broader franchise industry as well as selling price multiples for larger systems like Burger King where more transaction data is available.
When did Sonic start?
Sonic first opened in 1953 as Top Hat Drive-In in Shawnee, Oklahoma, with Troy Smith Sr. at the helm. He later partnered with Charlie Pappe and they began franchising in 1959 under the Sonic Drive-In name. Sonic's car-hops deliver burger, hot dogs, chicken sandwiches, tater tots, onion rings, fries, drinks, desserts and breakfast to customers.
How long does a franchise last?
Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease.
What is franchise fee?
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor.
What is royalty fee for franchise?
This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
