This franchise profile gives insight into the company with a mention of key takeaways as a conclusion. The profile provides a consolidated and up to date information about the company and comprises of information about the financial performance and/or number of stores owned and franchised by it.
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The scope of this franchise profile report is precise and covers the company’s background along with its present performance in the market. The major sections of the profile include: overview, products offered, recent developments and strategies undertaken, challenges faced, business strategy and analysis, and financial information. The report also includes revenue forecasts, presence of franchisee stores, market forecasts and key people of the company.
The report concludes with any other important information about the company and key takeaways.
- An overview of the franchise profile on Sonic Corp.
- Assessment of number of drive-in restaurants across regions in the U.S.
- Data corresponding to average gross sales by store for the 12-month period ending August 31, 2018
- Analysis of investment required for a Sonic franchise openings for both type of stores — traditional and non-traditional
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Sonic Corp. was started as a drive-in by Troy Smith, a World War II veteran, and Charlie Pappe, a local entrepreneur with an outgoing personality, in the state of Oklahoma. In 1953, the first drive-in place they had was a hamburger, hot dog and root beer stand called the “Top Hat” in Shawnee, Oklahoma. The first Sonic franchise started in 1959, when it opened multiple stores in Kansas, Texas and Arkansas. By 1978, Sonic Corp. had successfully established its business in 1,000 locations, and with the same rapid rate of advancement, the company became public in 1991. Today, Sonic Corp. serves 3 million customers per day and has 3,614 restaurants across the U.S. In December 2018, Inspire Brand Inc.
acquired Sonic Corp., and now Sonic privately operates in the market as a subsidiary of Inspire Brand.