SONIC Drive-In ownership easier for investors due to low interest rates
If you are looking for a franchise with unprecedented brand recognition and pent-up national demand, now is a great time to invest in a SONIC® franchise. The U.S. Federal Reserve continues to keep interest rates at record lows, making it easier to bring our iconic American drive-in to your community.
SONIC has great potential as a long-term investment for seasoned operators who are well-versed in franchise systems or for experienced business owners who want to diversify their portfolios. Our company is focused on growth, aiming for 1,000 new locations over the next decade. SONIC is backed by visionary leadership, robust national advertising power and tier-one brand operational excellence.
“It really is a fantastic time to open a SONIC franchisee. We have a best-in-class franchise support team that works with you every step of the way, strong brand equity and recognition even in markets where we have not yet opened thanks to our successful Two Guys national advertising campaign,” says Lori Osley, Senior Director of Franchise Sales/Development Marketing.
SONIC is America’s Drive-In®, serving more than 3 million customers a day at more than 3,500 locations nationwide. An iconic brand with a rich heritage encompassing more than 60 years, we believe in excellent customer service and developing core relationships with customers and the communities where our franchise owners operate. We are in the middle of a major nationwide expansion, capitalizing on a series of historic revenue increases — and joining SONIC makes more sense than ever.
From Discovery Day to opening day, we help franchisees succeed
Our corporate franchise support team is here to assist every step of the way. Once potential franchisees speak with Lori and go through the proper application channels, they are invited to attend Discovery Day at our Oklahoma City headquarters.
“Discovery Day is critical for potential franchisees,” Lori says. “We are a relationship brand, so we want to make sure we start that relationship on that first day.”
Prospective franchisees meet with SONIC’s core group of decision makers, from our real estate and construction team to our technology and operations teams. This is a big investment, and we want to ensure it is the perfect fit.
Once financing is approved, it typically takes 6 to 8 months to get a SONIC site secured. Construction and buildout of your restaurant takes an additional three months, depending on the area. We provide help throughout the process, analyzing critical factors such as demographics and traffic, to make the entire site-selection and construction process as stress-free as possible for franchisees.
Meeting the requirements to become a SONIC franchise owner
We are a brand with growth 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.
SONIC franchise owners must meet several specific requirements. In addition to total net worth of $1 million, a variety of attributes make an ideal SONIC franchisee: strong business acumen, restaurant experience and/or franchise experience, preferably as a multi-unit operator, and active involvement in their local community.
The franchise fee is $45,000, with an total estimated initial investment for a traditional SONIC ranging from $1.02 to $1.77 million, exclusive of land costs. 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.