How to Open a Sonic Franchise
Because Sonic franchises have enjoyed increasing success each year since 1987, opening your own Sonic franchise can be a great way to achieve your dream of owning your own business --- and making a good living in the process. In addition, the Sonic brand is known for operating as a close-knit family, often implementing ideas and menu suggestions from ambitious franchise owners. This spirit of cooperation is one thing that makes owning your own Sonic franchise an enjoyable career experience.
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Instructions
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Review the requirements. To own a Sonic franchise, you must have either previous experience running a successful restaurant or proven experience as an entrepreneur. You also need to be able to show a financial net worth of at least $1 million to own two franchise locations, $1.5 million for three stores or $2 million for five or more Sonic stores.
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Check the available markets. Before you get too far into the process of opening a Sonic franchise, check to see if there's availability for a new franchise in your area or an area to which you would be willing to move. You are required to live in the same state as your Sonic franchise, so keep that in mind when reviewing available markets.
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Raise the cash. Initial investments range from $710,000 to $3 million, with about $45,000 going toward the franchise fee. Sonic doesn't offer financing, so if you can't fund the investment yourself, you'll need to look into financing options with third-party lenders, such as a local bank. You might also consider contacting the Small Business Administration, which offers small business loans to entrepreneurs who might otherwise have trouble obtaining loans.
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Request an application. If you meet the requirements, obtain an application. Request your application in one of three ways: online, by calling the Franchise Sales Department at 1-800-569-6656, or by sending a written request to: Sonic Industries, LLC, Franchise Sales Department, 300 Johnny Bench Drive, Oklahoma City, OK 73104.
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Submit your application. Once you submit the finished application, you should receive a response from an official Sonic franchise representative within a few days.
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