KOKOMO, IN
There isn't one in Michigan, but everyone knows about the Sonic commercials. I always thought Sonic would be a great business to open...BUT...here's the info I found on the Sonic website:
These are the basic requirements to own a SONIC franchise:
* The term of a SONIC franchise is 20 years, plus a 10-year renewal.
* The franchise fee is $30,000, with a total initial investment ranging from $710,000 to $2.3 million.
* You must have prior or current successful restaurant experience and/or strong entrepreneurial skills.
* Royalty fees are 1 to 5 percent; advertising fees are 4 to 5 percent.
* Financial Requirements Are:
Liquidity Net Worth
1 Store $500,000 $500,000
2 Stores $1,000,000 $1,000,000
3 Stores $1,500,000 $1,500,000
5+ Stores $2,000,000 $3,500,000
