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Tuesday, 27 March 2018

5 Restaurant Franchises That Will Cost You at Least $1 Million

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With 3,557 locations as of the start of 2017, Sonic has less than a 10th the number of units as McDonald’s, but the drive-in burger and ice cream joint has been franchising for almost as long. The company, which ranks No. 6 on the Franchise 500, first opened in 1953 as Top Hat Drive-In but began franchising in 1959 under the Sonic Drive-In name.



There is still plenty of franchise ability left in the U.S., which you can find on the Sonic franchising page.



CEO: Cliff Hudson



Business headquarters: Oklahoma City



Franchising since: 1959



Initial investment: $1,073,000 to $2,361,500



Initial franchise fee: $45,000



New units in 2017: 31 units (0.9 percent)



Training: 400 hours on the job, 24 hours in the classroom



Marketing support: Co-op advertising, ad templates, national media, regional advertising, social media, SEO, website development, email marketing, loyalty program/app



Related: Just How Much Does It Cost to Own a Fast-Food Franchise?





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