how much does it cost to own a sonic franchise

Estimated Initial Investment for a Sonic Franchise

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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.

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

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.

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.

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.

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.

Are Sonic's individually owned?

Sonic Drive-In has over 3,500 locations nationwide, almost 90% of which are franchised.

Are Sonic's privately owned?

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 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 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.

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.

How much is a Route 44 slush at Sonic?

Sonic Drive-In Menu PricesFOODSIZEPRICEReal Fruit SlushesMedium$2.39Real Fruit SlushesLarge$2.79Real Fruit SlushesRoute 44$2.99Soft DrinkSmall$1.19182 more rows

How do you pay at Sonic stalls?

Credit Card or Debit Card – Usually accepted at the stall where you are parked or other outside readers. Visa, Mastercard, American Express and Discover are all accepted. My Sonic Gift Card – Also usually accepted at the stall where you park or at walk-up reader.

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 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.

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 ).

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 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 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 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.

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 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.

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.

What is a non-traditional restaurant?

A non-traditional restaurant enables you to strengthen your earning potential by tapping into traffic at popular venues in your region. Examples of non-traditional units would be on a college campus, at your local international airport or in a famous event venue. SONIC’s new footprints include options to open up a world of possibilities.

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.