| ||||
Updated RecentlySonic Drive In vs Mega Wraps Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Sonic Drive In vs Mega Wraps including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $1,242,000 - $3,523,300 | $189,000 |
| Franchise Fee | $45,000 | $10,000 |
| Royalty Fee | 2.45-5% | 6% |
| Advertising Fee | 3% | 2% |
| Year Founded | 1954 | 1998 |
| Year Franchised | 1959 | 1999 |
| Term Of Agreement | 20 years | 5 Years +5 |
| Term Of Agreement | 20 years | 5 Years +5 |
| Renewal Fee | 10 years for $6K | - |
Business Experience Requirements |
||
| Experience | - | |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | -/- |
| Start-up Costs | No/Yes | -/- |
| Equipment | No/Yes | -/- |
| Inventory | No/Yes | -/- |
| Receivables | No/Yes | -/- |
| Payroll | No/Yes | -/- |
Training & Support |
||
| Training | On-The-Job Training: 400 hours Classroom Training: 24 hours Additional Training: At existing franchise location | - |
| Support | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform | - |
| Marketing | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Email marketing Loyalty program/app | - |
| Operations |
International franchisees required to buy multiple units/master licenses; 60% of all franchisees own more than one unit Number of employees needed to run franchised unit: 25 Absentee ownership of franchise is NOT allowed. | Average Number of Employees: 2 Full-time, 4 Part-time |
Expansion Plans |
||
| US Expansion | Yes | Yes |
| Canada Expansion | No | Yes |
| International Expansion | No | - |
Company Overviews
About Sonic Drive In
Sonic Industries Inc. was founded in 1973. In 1974, Sonic acquired the name 'Sonic Drive-In' from Troy Smith, Sr., and began franchising. Smith used his more than 15 years of experience in the restaurant business to develop and operate the Sonic franchise program. A wholly owned subsidiary of Sonic Corp., the company is based in Oklahoma City, Oklahoma, and has locations throughout the United States. The company's storefronts recently got a facelift to give them a 'retro-futuristic' look.
Your estimated initial investment necessary to begin operation of a
Traditional Sonic Drive-In franchise ranges from approximately
$1,242,200 to $3,537,700 plus land costs and includes the $45,000
franchise fee that must be paid to Sonic.
Your estimated initial
investment necessary to begin operation of a Non-Traditional Sonic
franchise ranges from approximately $361,900 to $978,700 and includes
the $22,500 franchise fee that must be paid to Sonic.
!["franchiserankingscom"]("https://d3t9r0kmeshe93.cloudfront.net/settings/71116cc7-281b-43ed-8275-5087635f96d8.png")
!["Entrepreneur]("https://d3fg11dgb68kbp.cloudfront.net/assets/photos/franchise-badge-22686037fc120ba1bd59c2c9fd6e0fbf.png"){kind=icon}
#91 on Franchise Rankings.com
#4 in Franchise 500 for 2020.
#28 in Franchise 500 for 2021.
About Mega Wraps
Mega Wraps is defining a healthy outlook on the quick service restaurant. With the current customer trends in mind, Mega Wraps features a variety of Pita Wrap offerings. Founded in Toronto, Ontario, Canada, Mega Wraps is poised to establish itself as an industry leader across North America.