How to Buy a Sonic Franchise

Since 1953, Sonic has been serving up opportunity, success and fun in its franchise of carhop drive-ins. Sonic offers franchisees training programs, site selection support, advertising assistance, marketing materials and recruiting resources to franchise owners. Buy a Sonic franchise and enjoy low turnover rates for owners and a high customer frequency rate.

Instructions

1. Review the basic requirements for owning a Sonic franchise as outlined on the Sonic website. You are required to have prior restaurant or entrepreneurial skills. Additionally, you must have liquidity cash of at least $500,000 and a minimum net worth of $500,000 to be considered for ownership of one franchise.

2. Read the investment and franchise fee information on the Sonic website. The total initial investment is $710,000 to $2.3 million, which includes a franchise fee of $45,000. Royalty fees range from one to five percent and advertising fees are nearly six percent. Sonic does not offer financial assistance.

3. Check the Sonic website for market availability which includes 25 states that Sonic considers developing markets.

4. Fill out the "Request for Information" form located on the Sonic website. The form asks for contact information, background experience and financial information.

5. Receive and read the Uniform Franchise Offering Circular and franchise agreement sent to you from Sonic.

6. Speak with Sonic representatives to get answers to any questions you have regarding the franchise agreement.

7. Sign the franchise agreement and attend a 12-week training program, which consists of restaurant and classroom training.

Tips & Warnings

• Sonic was ranked number one in their category in Entrepreneur Magazine's Franchise 500 2007.

• Sonic, also, offers the option of owning a non-traditional Sonic franchise and is usually located in a mall, food court or travel plaza.

• Franchise fees include the initial franchisee fee, continuing royalty payments, advertising fees and other expenses outlined by the franchise agreement.

• The franchise agreement will outline what type of control you, as the franchisee, have over certain decisions.

• Before signing a franchise agreement, consult a lawyer and accountant who will help you understand the risks involved with buying a franchise.

• Always investigate a franchisor thoroughly before signing any type of agreement with them.