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Updated RecentlySonic Drive In vs Binghamton Hots Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Sonic Drive In vs Binghamton Hots including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $1,242,000 - $3,523,300 | $122,850 - $213,450 |
| Franchise Fee | $45,000 | $25,000 |
| Royalty Fee | 2.45-5% | 5% |
| Advertising Fee | 3% | 2% |
| Year Founded | 1954 | - |
| Year Franchised | 1959 | - |
| Term Of Agreement | 20 years | 10 years +5+5 |
| Term Of Agreement | 20 years | 10 years +5+5 |
| Renewal Fee | 10 years for $6K | - |
Business Experience Requirements |
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| Experience | Some familiarity with restaurant operations is helpful, but it’s not required to be part of the Binghamton HOTS casual restaurant franchise program. We do look for people who will be dedicated to their restaurant operations, and who have solid business and people management experience. The ability to build a strong operations team and potentially open and operate multiple units are also important factors we evaluate. | |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | No/- |
| Start-up Costs | No/Yes | No/- |
| Equipment | No/Yes | No/- |
| Inventory | No/Yes | No/- |
| Receivables | No/Yes | No/- |
| Payroll | No/Yes | No/- |
Training & Support |
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| Training | On-The-Job Training: 400 hours Classroom Training: 24 hours Additional Training: At existing franchise location | Classroom (up to 16 hours) On-the-job (up to 60 hours) sessions |
| Support | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform | We will send a representative to assist you and your team on-site around the time of your Grand Opening. We will present you with a copy of our confidential operations manual to help you run your casual restaurant franchise properly on a day-to-day basis. |
| 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. | - |
Expansion Plans |
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| US Expansion | Yes | Yes |
| Canada Expansion | No | - |
| 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.
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#91 on Franchise Rankings.com
#4 in Franchise 500 for 2020.
#28 in Franchise 500 for 2021.
About Binghamton Hots
Everyone, from college kids and downtown residents to families and workers from local businesses, comes in to Binghamton HOTS for food and fun, throughout the day and night.
You can create your own local a destination that appeals to today’s consumers, including Millennials, who want creative menu options loaded with convenience.
You can create your own local a destination that appeals to today’s consumers, including Millennials, who want creative menu options loaded with convenience.
- You can build business with flexible service options across multiple dayparts - from lunch to dinner to late night - and even offer carry-out, delivery, and catering options, too.
- You can be part of the immense restaurant industry, where demand for customization, convenience and flavor have quick service and fast-casual sales on a continual upward growth trend.
Best of all, you can operate your local HOTS spot with confidence, with our full support at every stage of your restaurant’s operations.