Estimated Initial Investment for a Sonic Franchise
- Franchise Fee – $45,000 to $45,000
- Payroll – $56,000 to $137,500
- Training, travel and Living Expenses while Training – $5,000 to $33,500
- A-Team Trainers – $44,000 to $92,000
- Advertising Funds – $2,000 to $5,000
- Beginning Inventory – $30,000 to $140,000
- Security Deposits, impact fees for utilities, utility deposits, business license and other prepaid expenses – $2,000 to $250,000
How much does it cost to own a Sonic franchise?
The franchise fee for a single unit is $45,000, with a total estimated SONIC franchise cost ranging from $865,000 to $3.64 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.
What does it cost to buy a franchise?
Most Popular Food Franchises and How Much They Cost
- McDonald's Franchise. You will need a minimum of $955,000 in nonborrowed, personal resources to be considered for a McDonald's franchise.
- Subway Franchise. ...
- Pinkberry Franchise. ...
- Wendy's Franchise. ...
- Domino's Pizza Franchise. ...
- Pizza Hut Franchise. ...
- Dunkin Donuts Franchise. ...
- Taco Bell Franchise. ...
- KFC. ...
How much does a Panchos franchise cost?
How much does it cost to open a Panchero's Mexican Grill Franchise? The estimated investment required to open a Panchero's Mexican Grill Franchise is between $404,325-$931,000. There is an initial franchise fee of $20,000-$30,000 which grants you the license to run a business under the Panchero's Mexican Grill name.
What is the average cost of a franchise?
While the franchisor can provide you with an estimate for the working capital needed, you should do your own research too. In general, most franchise fees are between $20,000 and $50,000. Mobile businesses or home-based businesses could be less than $20,000.
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.
How much land do you need to build a SONIC?
Sonic has built on its unique operating system and found ways to leverage that system to its benefit. A standard store layout provides for 24 to 36 stalls and requires approximately ¾ of an acre for build out.
Does SONIC sell franchises?
With an adaptable model, industry-leading technology and pent-up demand in markets nationwide, SONIC offers multi-unit franchise owners like you a path to limitless possibilities.
Is SONIC franchise profitable?
If you owned multiple Sonic franchises, you do have the ability to make more of your money back. Franchise owners with over $5 million in sales have a median multiple of 0.86 So, if you had 10 franchises this would be $13.6 million in sales. And you could sell your chain of restaurants for about $11.7 million.
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 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.
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.
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.
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
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.
Who owns the Sonic franchise?
Inspire BrandsSonic 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 Sonic land?
Sonic The Hedgehog Land is a Themed Area based around the Sonic The Hedgehog Franchise that is currently being constructed in Osaka, Japan.
Where do Sonic Live?
Planet Freedom is the setting of Sonic the Hedgehog: The Movie. Its populace includes humans, anthropomorphic animals, and hybrids of the two. It is split into two parts: the Land of the Sky (home of Sonic and much of the planet's population), and the Land of Darkness (home of Dr. Robotnik).
Where is the Chevy Sonic built?
The Chevrolet Sonic is assembled all over the world at different GM plants. In the USA, Sonic manufacturing occurs at the Orion Assembly Plant in Orion Township, Michigan, USA. Other production locations include Ramos Arizpe, Mexico; Bupyeong-gu, Incheon, South Korea; and Yantai, Shandong Province, China.
Who is Sonic EXE?
Sonic. EXE is an eldritch entity taking on the form of Sonic the Hedgehog that sends out a haunted game disc featuring the creature killing the main Sonic characters, eventually leading him to rip out the soul of his victim and making them his slave.
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.
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.
Background
When it comes to quick service restaurants (QSRs), the competition is stiff. It is a billion dollar industry that has brands like McDonald's, Burger King, Wendy's, Chic-fil-A, and more saturating the industry with options to get customers in stores and driving through the drive thru.
Support and Training Offered By SONIC
In terms of support and training, franchisees can expect a 12 week training program that is broken down into 8 weeks worth of restaurant training, 3 weeks at a new store opening and a week of classroom training. Additionally, general managers are certified at a certified training store.
Franchises Similar to SONIC
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
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 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 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.
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 ).
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 ).
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 ...
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.
What is Sonic franchise?
Franchise Description: Sonic Franchising LLC, the franchisor, licenses the operation of Sonic restaurants. The franchisor is a subsidiary of Inspire Brands, Inc. Sonic Drive-Ins feature a wide array of classic drive-in favorites like made-to-order cheeseburgers, chicken options ranging from sandwiches to boneless wings, a variety of hot dogs including the 6-inch premium beef hot dogs footlong quarter-pound coneys, hand-made onion rings, tater tots and a full breakfast menu. The franchise is also known for its variety of real ice cream treats and specialty fountain drinks like our signature cherry limeades, famous slushes and its candy mix-in “SONIC Blast” treats. Sonic Drive-Ins are typically open from 6 a.m. to at least 11 p.m. and serve the entire menu all day long. The franchisor offers two types of franchises:
How long does a Sonic franchise last?
Term of Agreement and Renewal: The length of the initial franchise term is 20 years for a traditional Sonic and 10 years for a non-traditional Sonic.
What training is required for Sonic?
All management personnel are required to be ServSafe certified prior to opening the Sonic restaurant. All management personnel are also required to annually complete Sonic Safe, Sonic’s Food Safety program. The franchisor also requires Sonic Management Seminar (SMS) training for at least one full-time manager working in the Sonic restaurant. For a franchisee’s first three Sonic Drive-Ins, the franchisor will facilitate a partnership with another franchisee to have a franchisee “A-Team” participate in the pre-opening and opening of the Sonic restaurants. The franchisor will provide management training sessions, periodic mailings which will communicate system initiatives, operational recommendations and other general information pertaining to the operation of the Sonic restaurant. The franchisor will provide access to other resources and assistance that it may develop and offer from time to time.
What is a non-traditional Sonic?
A non-traditional Sonic is typically a restaurant in locations such as (1) military and other governmental facilities; (2) educational facilities; (3) sports and entertainment venues; (4) shopping centers and industrial facilities; (5) airports and other transportation facilities; and (6) and other public facilities.
Does Sonic have a career development program?
However, at least one individual (usually the manager) working full time at the Sonic restaurant must attend and successfully complete the Stage Career Development Program and any other training program developed and designated by the franchisor from time to time.
Does Sonic drive in require a food safety program?
All Sonic Drive-In employees are required to satisfactorily complete Sonic Safe, the franchisor’s comprehensive, restaurant-based food safety program. The franchisor also requires Sonic Management Seminar (SMS) training for at least one full-time manager working in the Sonic restaurant.
Does Sonic have a drive through?
Many Sonic restaurants also incorporate drive-thru service and patio seating, and some may provide an enclosed patio or indoor seating. Traditional Sonic Drive-Ins also include restaurants that are co-branded at facilities such as convenience stores and travel plazas.
How many locations does Sonic have?
Founded over 60 years ago, SONIC is one of the nation’s most recognized brands, with more than 3,500 locations and millions of fans across the country.
Is Sonic a drive in?
SONIC®, America’s Favorite Drive-In, is growing in markets across the U.S. and we want yours to be next. Hop in the driver’s seat with a SONIC franchise of your own today.
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.
Is SONIC a QSR?
SONIC is as much a technology company today as it is a leading QSR brand. From our interactive menu boards, to our POS system, mobile apps and online delivery platforms, SONIC is a high tech business. Learn More.
