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    Franchise opportunities compared

    Sonic Drive-In vs Steak n Shake Enterprises Traditional Franchise Program

    Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.

    Sonic Drive-In2026 FDDSteak n Shake Enterprises Traditional Franchise Program2026 FDD

    Initial investment · Item 7

    Sonic Drive-In

    $1,485,200

    2026 FDD · Item 7 · PDF p. 38

    Steak n Shake Enterprises Traditional Franchise Program

    $316,000 – $2,656,425

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    Sonic Drive-In

    Not available

    Steak n Shake Enterprises Traditional Franchise Program

    Not available

    Royalty · Item 6

    Sonic Drive-In

    1%

    2026 FDD · Item 6 · PDF p. 34

    Steak n Shake Enterprises Traditional Franchise Program

    5%

    2026 FDD · Item 6 · PDF p. 19

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Steak n Shake Enterprises Traditional Franchise Program discloses more than one business format, so the investment range spans formats; the full report breaks them out.
    • Item 19 figures cover the location groups each FDD names (Sonic Drive-In: 8, Steak n Shake Enterprises Traditional Franchise Program: 8). Different groups are not directly comparable.

    Financial commitment

    Estimated initial investment (Item 7)

    Sonic Drive-In

    $1,485,200
    TOTAL ESTIMATED INITIAL INVESTMENT (excluding free- standing real estate costs) (15) — 1485200
    2026 FDD · Item 7 · PDF p. 38

    Steak n Shake Enterprises Traditional Franchise Program

    $316,000 – $2,656,425
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    Sonic Drive-In

    Not available
    No single standard fee identified

    Steak n Shake Enterprises Traditional Franchise Program

    Not available
    No single standard fee identified
    Royalty (Item 6)

    Sonic Drive-In

    1%
    lows: Duration of Effective Royalty Fee Effective Royalty Fee Opening through Year 1 — 1%
    2026 FDD · Item 6 · PDF p. 34

    Steak n Shake Enterprises Traditional Franchise Program

    5%
    Royalty and System Fee & License Fee
    2026 FDD · Item 6 · PDF p. 19
    Brand / advertising fund (Item 6)

    Sonic Drive-In

    Not available
    No reviewed brand or advertising fund fee

    Steak n Shake Enterprises Traditional Franchise Program

    $50
    Custom Marketing Services: $50 to $135 per hour
    2026 FDD · Item 6 · PDF p. 21

    System scale & health

    Total outlets (Item 20)

    Sonic Drive-In

    3,412
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 74

    Steak n Shake Enterprises Traditional Franchise Program

    Not available
    No reviewed outlet counts
    Net outlet change (Item 20)

    Sonic Drive-In

    −109
    Calculated: 3,521 at end of 2023 → 3,412 at end of 2025

    Steak n Shake Enterprises Traditional Franchise Program

    Not available
    Only one year reported
    Outlet exits (Item 20)

    Sonic Drive-In

    Not available
    No complete exit records for a year

    Steak n Shake Enterprises Traditional Franchise Program

    Not available
    No complete exit records for a year
    Franchising since (Item 1)

    Sonic Drive-In

    Not available
    Not in reviewed records

    Steak n Shake Enterprises Traditional Franchise Program

    Not available
    Not in reviewed records
    Franchisor founded (Item 1)

    Sonic Drive-In

    Not available
    Not in reviewed records

    Steak n Shake Enterprises Traditional Franchise Program

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Sonic Drive-In
    Locations counted not stated in the reviewed record — 2nd Quartile
    47 percent
    other 2nd Quartile
    2026 FDD · Item 19 · PDF p. 71
    Locations counted not stated in the reviewed record — All Restaurants
    1,338 restaurants
    other All Restaurants
    2026 FDD · Item 19 · PDF p. 72
    Locations counted not stated in the reviewed record — 1st Quartile
    294 restaurants
    other 1st Quartile
    2026 FDD · Item 19 · PDF p. 71
    +5 more groups in the full report
    Steak n Shake Enterprises Traditional Franchise Program
    Locations counted not stated in the reviewed record — Traditional Franchise Restaurants
    59 outlets
    other Traditional Franchise Restaurants sample size
    2026 FDD · Item 19 · PDF p. 75
    Locations counted not stated in the reviewed record — Total Franchise Restaurants
    214 outlets
    other Total Franchise Restaurants sample size
    2026 FDD · Item 19 · PDF p. 75
    Locations counted not stated in the reviewed record — Franchise Partner Restaurants — Quartile 2
    25.5 percent
    other Total Labor Cost as % of Net Sales
    2026 FDD · Item 19 · PDF p. 78
    +5 more groups in the full report

    Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.

    Sonic Drive-In vs Steak n Shake Enterprises Traditional Franchise Program: common questions

    Which costs less to open, Sonic Drive-In or Steak n Shake Enterprises Traditional Franchise Program?
    Sonic Drive-In: $1,485,200 (2026 FDD · Item 7 · PDF p. 38); Steak n Shake Enterprises Traditional Franchise Program: $316,000 – $2,656,425 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Steak n Shake Enterprises Traditional Franchise Program. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    How do Sonic Drive-In and Steak n Shake Enterprises Traditional Franchise Program royalties compare?
    Sonic Drive-In: 1% (2026 FDD · Item 6 · PDF p. 34); Steak n Shake Enterprises Traditional Franchise Program: 5% (2026 FDD · Item 6 · PDF p. 19). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Do Sonic Drive-In and Steak n Shake Enterprises Traditional Franchise Program disclose financial performance (Item 19)?
    Sonic Drive-In has reviewed Item 19 figures for 8 location groups; Steak n Shake Enterprises Traditional Franchise Program has reviewed Item 19 figures for 8 location groups. Different location groups are not directly comparable, and revenue is not profit.

    Answers restate the reviewed figures above. Not a ranking or recommendation.

    How Franopolis reviews FDD figures

    Keep researching

    Full Sonic Drive-In report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    Full Steak n Shake Enterprises Traditional Franchise Program report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

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