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.
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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 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.
How do you own a SONIC?
Sonic Drive-InLogo since 2020Sonic's headquarters in Oklahoma City United States.Net incomeUS$64.067 million (2016)Number of employees5,000 (2021)ParentIndependent (1953–2018) Inspire Brands (2018–present)14 more rows
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.
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.
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 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.
Are Sonics individually 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.
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.
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 is Sonics profit margin?
Sonic Automotive net profit margin as of June 30, 2022 is 2.76%.
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 Sonic?
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 is Sonic stock worth?
$ 44.40CloseChgChg %$44.40-0.63-1.40%
How much is Sonic the Hedgehog worth?
What makes a copy of Sonic the Hedgehog for Sega Genesis worth $240,000? After all, 15 million copies were made. Video Game Specialist Brett Weiss explains it's a combination of popular demand and rarity.
How much does a Sonic franchise cost?
Sonic offers two kinds of the franchise: the traditional and non-traditional. Traditional Sonic franchise cost ranges from $1,023,000 to $1,765,000.
How much does it cost to start a Sonic business?
Non-traditional Sonic franchise cost ranges from $443,500 to $1,201,500. This cost covers the real estate rent, equipment, inventory, and franchise fee. Both traditional and non-traditional Sonic franchise cost offers training as well as travel and living expenses while training with them.
How much royalty does Sonic charge?
The Sonic franchise has a 5% royalty fees on the other fees that you need to pay . Royalty fees from Sonic franchise are collected from your gross sales. These fees are the payment for using the Sonic brand as well as the advertising and other support that the mother company gives in your franchise company.
What is included in Sonic franchise?
Make sure to check the things that are included in your initial investment. In Sonic franchise even in a lower cost franchise the security deposit, impact fees for utilities, utility deposit, business licenses, and other prepaid expenses is included in your initial investment. The real estate rent and equipment are also part of the initial investment.
How many cars can a Sonic restaurant cater?
A traditional Sonic restaurant can cater 16 to 24 cars in their parking space.
How much land does Sonic need?
The average land mass needed to construct a Sonic building you will need 2/3 to 1 commercial acre in order to put up a building that will be used for the business. Moreover, the area varies depending on the franchise that you have purchased.
How many Sonic drive ins are there?
Sonic is America’s largest drive-in chain. They have 3,500 drive-in locations nationwide, in which almost 90% is franchised. They have been in franchising business for 58 years. Sonic has been rapidly expanding over the years and have available ideal locations in 50 states.
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.
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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.
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.
What is a Sonic franchise?
SONIC franchisees are anything but average. They’re business-savvy leaders with genuine passion for our brand and restaurant-specific experience. Whether they grew up eating our famous coneys or worked as a car hop when they were young, they know better than anyone what it means to be America’s favorite drive-in.
How much does it cost to license a SONIC restaurant?
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 S ONIC restaurant is $22,500, with a total investment ranging from $361,900 to $978,700 (excluding land).
How long is the Sonic training program?
SONIC offers a 12-week training program that includes 8 weeks of restaurant training, 3 weeks at new store openings and 1 week of classroom training. Prior to your grand opening, your general manager must be in place and fully trained. All SONIC general managers are certified at a certified training store.
How long is a SONIC license?
SONIC offers both a traditional and non-traditional license agreements. The term of a traditional license is 20 years with a 10-year renewal option. The term of a non-traditional license agreement ranges from 5 to 10 years, plus a 5-year renewal option.
How much liquid capital do I need to open a 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.
How long does it take to open a Sonic drive in?
It typically takes six to eight months to secure a site. Once site selection is complete and construction and build-out begin, it takes an average of 90 days to open your SONIC Drive-In franchise.
Does SONIC offer direct financing?
SONIC does not offer direct or indirect financing and will not guarantee your note, lease or other obligation. SONIC maintains a preferred list of lenders. We are listed on the Franchise Registry list as an approved SBA-Franchise.
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.
