How much does a Sonic Drive-In franchise cost?
- Initial Franchise Fee: $45,000
- Total Investment: $1,242,200 to $3,537,700
- Working Capital: $61,000 to $162,500
- Royalty Fee: 5.0%
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How much does it cost to open a Sonic Drive-In?
Candidates will need $500,000 in liquid capital and a minimum net worth of $1,000,000 to open 1 – 2 units. Keep in mind, the SONIC Drive-In franchise is primarily a multi-unit opportunity. Minimum financial qualifications for additional units will increase. What qualities is SONIC looking for in a franchisee?
How much does a SONIC owner make a year?
Average Sonic Drive-In Owner Operator Driver yearly pay in the United States is approximately $69,794, which is 66% below the national average. Salary information comes from 22 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
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.
What is the royalty fee for SONIC?
5%$3,543,000Type of FeeAmountRoyalty Fee5% (maximum) of gross sales for traditional and 4% of gross sales for non-traditional.Brand Fee0.90% of gross sales.Advertising Cooperative Fee3.25% (minimum) of gross sales for traditional and 1.85% for non-traditional.Technology Fee/BTF Contribution0.25% of gross sales.9 more rows
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...•
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.
How do you make a Sonic Drive-In?
To buy a franchise with Sonic® Drive-In, you'll need to have at least $500,000 in liquid capital and a minimum net worth of $1,000,000. Franchisees can expect to make a total investment of $1,020,000 - $1,770,000.
Is Sonic the Hedgehog a good franchise?
Sonic the Hedgehog is Sega's flagship franchise and one of the bestselling video game franchises, selling over 140 million units by 2016 and grossing over $6 billion as of 2020. Series sales and free-to-play mobile game downloads totaled 1.14 billion as of 2020.
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 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.
What is the cost of a Subway franchise?
How much is the franchisee fee? The initial franchise fee ranges from $10,000 - $15,000* (US dollars) depending on your country.
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 Sonic the Hedgehog a good franchise?
Sonic the Hedgehog is Sega's flagship franchise and one of the bestselling video game franchises, selling over 140 million units by 2016 and grossing over $6 billion as of 2020. Series sales and free-to-play mobile game downloads totaled 1.14 billion as of 2020.
Who owns SONIC now?
Inspire BrandsSonic Drive-In / Parent organizationSonic Corporation, founded as Sonic Drive-In and more commonly known as Sonic (stylized as SONIC), or "The Drive-In," is an American drive-in fast food restaurant chain owned by Inspire Brands, the parent company of Arby's and Buffalo Wild Wings.
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 Subway franchise cost?
The initial franchise fee ranges from $10,000 - $15,000* (US dollars) depending on your country.
What is the Two Guys campaign?
SONIC’s Two Guys advertising campaign is one of the most recognizable and successful advertising campaigns in QSR history, giving franchisees instant brand recognition and unprecedented advertising muscle on opening day and beyond. The Two Guys campaign resonates particularly well with Millennials, a growing customer base for SONIC, who seek out a fully customizable dining experience. The Two Guys campaign is loved by people of all ages and establishes our brand even in markets where we have not yet expanded. Our annual spend of almost $200 million creates familiarity with our products and pent-up demand in nearly every community across the U.S.
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 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.
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.
What is the menu at Sonic?
Sonic's menu consists of hamburgers and French fries, as well as onion rings, corn dogs, chili dogs and breakfast toaster sandwiches. Drink options include soft drinks, slushes, and milkshakes. Customers can combine various drinks and flavors to create thousands of possible drink combinations.
Where is Sonic located?
Please try again later. Sonic Drive-In, more commonly known as Sonic, is an American drive-in fast-food restaurant chain based in Oklahoma City, Oklahoma. In 2011, it was ranked 10th in QSR Magazine's rankings of the top 50 quick-service and fast-casual restaurant brands in the nation. As of August 31, 2018, the company operated 3,606 Sonic ...
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How much does Sonic charge for a drive in?
Ranking number four on the Annual Franchise 500 from Entrepreneur, Sonic has an initial franchise fee of $45,000 for a traditional drive-in model. However, according to Sonic, for those opting for a nontraditional model, the franchise fee is lower.
How much does it cost to open a Sonic?
While it can cost between $1,242,200 and $3,537,700 to open a traditional Sonic (without the land costs), the cost to open a nontraditional Sonic location ranges from $361,900 to $978,700.
How long does it take to build a Sonic site?
According to Sonic, securing a site can take six to eight months, and build-out can be another 100 days. Sounds like something to think over while enjoying a burger and tots. Recommended.
Where is Sonic Drive In?
Back in 1953, Sonic Drive-In began as Top Hat Drive-In in Shawnee, Oklahoma. There are now more than 3,500 Sonic locations in 46 states (via Oklahoma Historical Society ).
Who owns Sonic?
Sonic was acquired by Inspire Brands in 2018, in a $2.3 billion deal, according to QSR. In addition to Sonic, Inspire Brands owns Buffalo Wild Wings, Arby's, Rusty Taco, and Jimmy John's, making it the fourth-largest restaurant company in the U.S. (via and Inspire press release ).
What is a low amount for training?
The low amount is for local training and includes mileage and meals for two managers and two assistant managers during the required on-the-job training, new store opening experience, and classroom training.
How many stalls does Sonic have?
The amounts include the POS and POPS platforms for a Sonic Drive-In with 8 to 24 stalls, a drive-thru lane, and patio seating. It also includes additional hardware and software payment processing technology and technologies required to support them.
How big is a Sonic lot?
The lot size should be 24,000 to 34,000 square feet, and suitable for constructing a 1,150 to 1,500 square-foot Sonic building with canopies for 8 to 24 drive-in stalls, a drive-thru lane, and patio seating.
Does Sonic have indoor seating?
If you choose to include optional indoor seating at your Sonic Drive-In, the actual costs will vary materially depending on the size of your indoor dining area, its location, and its finishes.
Where is Sonic Drive In located?
In 1974, Sonic acquired the name ' Sonic Drive-In ' from Troy Smith, Sr., and began franchising. Smith used his more than 15 years of experience in the restaurant business to develop and operate the Sonic franchise program. A wholly owned subsidiary of Sonic Corp., the company is based in Oklahoma City, Oklahoma, and has locations throughout the United States. The company's storefronts recently got a facelift to give them a 'retro-futuristic' look.
Can you own a franchise if you are absent?
Absentee ownership of franchise is NOT allowed.