Sonics Franchise Cost
Established in 1953, Sonic started franchising in 1959, which was six years after they started operating. Currently, Sonic has over 3,525 operational units and their headquarters are in Oklahoma City, Oklahoma. Thinking about starting a Sonic franchise? Then you should first have an overview of how much it can cost you.
In this guide, you’ll learn about the investment estimations that you are expected to spend when opening a Sonic franchise. These estimations range from low to high and this variance is as a result of many factors.
So, here is to answer your question on how much is a Sonic franchise.
1. Franchise Costs
The initial franchise costs or fees that you can expect to pay range between $22,500 - $45,000. This amount is variable depending on the type of restaurant or structure that you want to put up as the franchise.
2. Payroll
Another important factor to consider when analysing a Sonic restaurant franchise cost is the payroll that you’ll have to incur as the franchisee. The amount here can range between $56,000 - $137,500 in total.
3. Training, Living and Travel Expenses During Training
For this process, the total amounts ranging from low to high budgets can cost you from $5,000 - $33,500.
4. A-Team Trainers
As you can tell, this level of trainers has premium training experiences and lessons. Therefore, expect to pay a significant amount for their services ranging from $48,000 - $92,000 in total.
5. Advertising Funds
While the brand might be profound in its operations and popular across the country, you’ll still need to advertise your new Sonic restaurant franchise. Here, you can expect to pay ad fees of about $2,000 - $5,000 to get the recognition that you require for your business.
6. Beginning or Opening Inventory
For beginning inventory or all the supplies you need to kick start your Sonic restaurant franchise, you’ll need about $30,000 - $140,000 in total.
7. Business License, Utility and Security Deposits, Impact Fees, and Other Prepaid Expenses
Ranging from $0 - $250,000, these prepaid expenses are necessary and part of the most important for handling first before you can start operating your Sonic restaurant franchise.
8. Insurance Premiums
Also essential and compulsory, insurance premiums range between $10,000 - $20,000.
9. Additional Funds of Up to 3 Months
These funds may cost you about $5,000 -$25,000 for a period of 3 months.
10. Miscellaneous and Pre-Opening Expenses
The amounts you can expect to pay for miscellaneous and pre-opening expenses may range from $5,000 - $58,300 in total.
11. Site Work, Building, and Real Estate Rent
These expenses can shoot to all-time highs and range between $15,000 - $2,300,000 depending on the location and structure for the franchise.
12. Sonic Signage
Necessary to start operating as a legal Sonic restaurant franchise, a Sonic sign should cost you about $35,000.
Finally, the total Sonic restaurant franchise cost that you can expect to pay ranges between $361,900 - $3,537,700.