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How many Sonics are franchised?
3,534Facts & FiguresLiquid capital required$1,000,000Royalty2.5% - 5.0%Units in operation3,534Founded1953Franchising Since19593 more rows
Are all Sonics franchise?
Franchise System 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.
How much is a Sonic franchise cost?
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 much does a Sonic owner make?
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 20 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
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 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.
Are Sonic's individually owned?
Prior to its acquisition by Inspire Brands, its stock traded on NASDAQ with the symbol SONC. Most restaurants are owned and operated by franchisees.
How much land do you need to build a Sonic?
Traditional Sonic Drive-In. A Traditional Free-Standing Restaurant is a Sonic Drive-In located on a lot size ranging between 24,000 to 34,000 square feet and suitable for constructing a 1,150 to 1,500 square-foot Sonic Restaurant building with canopies for 8 to 24 drive-in stalls, a drive-thru lane, and patio seating.
What is Sonics profit margin?
Sonic Automotive net profit margin as of June 30, 2022 is 2.76%.
How much does it cost to buy a Burger King franchise?
Burger King Franchise Cost /Initial Investment/ Burger King Franchise. The franchise fee is $50,000, and requires a total investment of anywhere between $316,100 and $2,660,600. Franchise agreements include an additional royalty fee of 4.5%. Franchise incomes vary by location.
What does the initial franchise fee cover at Sonic?
20% of the then-current license fee (currently would be $9,000 for traditional drive-ins and $450/yr. of term for non-traditional restaurants). Cost of obtaining insurance. 3% of gross sales....Sonic Franchise Costs & Fees.Name of FeeLowHighInitial License Fee$45,000$45,000Training, Travel and Living Expenses while Training$5,000$53,50017 more rows
Are Sonic's individually owned?
Prior to its acquisition by Inspire Brands, its stock traded on NASDAQ with the symbol SONC. Most restaurants are owned and operated by franchisees.
Is McDonald's franchised?
McDonald's is an equal opportunity franchisor by choice. We seek individuals who are capable of operating multiple locations. Candidates who have successfully operated multiple businesses may be suited to operating several McDonald's franchises.
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 a non traditional Sonic?
Traditional locations are drive-in locations that use intercoms for ordering and carhops for delivery, while a non-traditional Sonic location requires customers to go to the counter to place their orders with cashiers,.
When did Sonic Mania Plus come out?
An add-on by the name of Sonic Mania Plus was released in 2018.
What is Sonic the Hedgehog?
video games. This list is incomplete; you can help by adding missing items with reliable sources. Sonic the Hedgehog is a video game series. It is published by Sega, with entries developed by Sega, Sonic Team, Dimps, SIMS Co., Ltd., BioWare, and Sumo Digital. The series debuted in 1991 with the video game, Sonic the Hedgehog, ...
When was Sonic Boom released?
Sonic Boom. Sonic the Hedgehog is a video game series. It is published by Sega, with entries developed by Sega, Sonic Team, Dimps, SIMS Co., Ltd., BioWare, and Sumo Digital. The series debuted in 1991 with the video game, Sonic the Hedgehog, released for the Mega Drive video game console (named Sega Genesis in North America).
When will Sonic Colors Ultimate be remastered?
Remastered in 2021 with additional features as Sonic Colors Ultimate.
Who is the villain in Sonic 3D?
Celebrates Sonic's 10th anniversary, with the ability to play as both heroes: Sonic the Hedgehog, Miles "Tails" Prower and Knuckles the Echidna, and villains: Dr. Eggman, Shadow the Hedgehog and Rouge the Bat.
Who are the heroes in Sonic?
Notes : Celebrates Sonic's 10th anniversary, with the ability to play as both heroes: Sonic the Hedgehog, Miles "Tails" Prower and Knuckles the Echidna, and villains: Dr. Eggman, Shadow the Hedgehog and Rouge the Bat. Sonic Heroes.
Who is the playable character in Sonic Mania Plus?
Features three playable characters: Sonic, new character Mighty the Armadillo (who would later re-appear as a playable character in Knuckles Chaotix and Sonic Mania Plus ), and new character Ray the Flying Squirrel (who would not re-appear in the franchise outside of cameos until Sonic Mania Plus, an enhanced version of Sonic Mania ).
How long has SONIC been in business?
Over more than 65 years in the business, SONIC has established itself as a permanent fixture in American culture. SONIC’s success stems from our long-standing legacy of balancing familiarity with bold advancement, making our concept as relevant today as it was when we started.
Where is the first Sonic drive in?
After three previous business ventures, founder Troy Smith struck gold with the first SONIC Drive-In located in the small town of Shawnee, Oklahoma. Smith’s vision and knack for spotting customer trends gave us our first state-of-the-art intercom system and, as they say, the rest is history.
Is there a sweeter time to franchise with Sonic Drive-In?
We’re glad you’ve reached out to us! There’s never been a sweeter time to franchise with SONIC Drive-In. Here’s what you can expect next in the process.
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.
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.
How much does it cost to become a SONIC?
What does it take to become a SONIC franchisee? The franchise fee is $45,000, with a total investment for a traditional SONIC ranging from $1.02 to $1.77 million (excluding land). The net worth of a partner can be used toward the total net worth/liquidity requirements. The term of a traditional SONIC franchise is 20 years, plus a 10-year renewal.
Is it a good time to own a Sonic franchise?
Increasing revenue, balanced dayparts and open territory make it a great time to own a SONIC franchise.
Is there a better time to become a Sonic franchisee?
There has never been a better time to become a SONIC franchisee. Leadership from a best-in-class franchise support team, a diverse menu that maximizes all five dayparts like no other QSR in the industry and the marketing muscle of the wildly successful Two Guys national campaign have positioned us as a brand with remarkable momentum. SONIC franchise owners saw average gross sales-by-store increase from $1,072,000 in 2012 to $1,246,000 in 2015, with more than 23 percent of our stores exceeding $1.5 million in gross sales in fiscal year 2015.
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.
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 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.
How much does a Sonic Drive-In franchise make?
Typically, franchise profits are proportionate to the size of investment. We can help you figure out how much money you can make by reviewing your personal situation. Please unlock this franchise for more information.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 3329 franchised Sonic Drive-In locations in the USA.
When did they begin franchising?
They began franchising in 1974. The average Burgers franchise began franchising in 2008.
What is Sonic Drive In?
We do business under the brand names “Sonic,” “Sonic Drive-In” and “Sonic, America’s Drive-In,” among others. We grant franchises for the operation of a distinctive drive-in restaurant (and in many cases, with a drivethru lane) focusing on a unique menu of quality, made-to-order food products including several signature burger items and innovative technology.
What does it mean to find the best franchise?
Finding the best franchise means comparing several brands to determine the ideal fit for you.
What company bought Sonic in 2018?
By 2018, Sonic knew it needed to make some changes to save its business. Its sales were falling, it was in debt, and it needed resources. So, in September of that year, Sonic reached a deal with multi-brand restaurant conglomerate, Inspire Brands, which owns other niche restaurant chains like Arby's and Buffalo Wild Wings. Inspire Brands agreed to buy Sonic, and all of its debt, for $2.3 billion, and then use its resources to help "further drive innovation and long-term growth at Sonic ."
Who is the CEO of Sonic?
The deal with Inspire Brands was completed by the end of 2018, along with a management shakeup for Sonic. The company's longtime CEO, Cliff Hudson, stepped down as part of the acquisition. Sonic's president at the time, Claudio San Pedro, took over as the head of the brand, under Inspire Brands leadership.
What is the number 13 Sonic?
In Restaurant Business Magazine's ranking of the top 500 restaurant chains for 2019, Sonic came in at number 13, behind McDonald's, Burger King, and Wendy's. Other popular chains like Chick-fil-A, Chipotle, Taco Bell, and Subway also outrank Sonic when it comes to sales and revenue.
What is the new Sonic logo?
A few months after showing off its new look, Sonic announced a brand new restaurant design. The new restaurants feature a large brightly-lit cherry on top of the building, symbolic of the company's signature Cherry Limeades.
Why is Sonic so laggard?
One of the reasons Sonic lags behind its competition is because it simply doesn't have as many store locations as some of the other big names. According to the company, the weather is to blame for that.
Why is Sonic so successful?
According to parent company CEO Paul Brown, Sonic's success is thanks to its "car centric model.". Sonic's drive in concept has always encouraged people to pull up and enjoy their meal right away from the comfort of their car.
When did Sonic change their logo?
Another update to Sonic's brand included a redesigned logo. Sonic announced the new logo in a twitter post in February of 2020 ... and let's just say fans weren't exactly impressed.
