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    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.

    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.
    DisclosureSDSonic Drive-InSNSteak n Shake Enterprises Traditional Franchise Program
    Financial commitment
    Estimated initial investment (Item 7)
    $1,485,200
    TOTAL ESTIMATED INITIAL INVESTMENT (excluding free- standing real estate costs) (15) — 1485200
    2026 FDD · Item 7 · PDF p. 38
    $316,000 – $2,656,425
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)
    Not available
    No single standard fee identified
    Not available
    No single standard fee identified
    Royalty (Item 6)
    $1.00
    lows: Duration of Effective Royalty Fee Effective Royalty Fee Opening through Year 1 — 1%
    2026 FDD · Item 6 · PDF p. 34
    $5.00
    Royalty and System Fee & License Fee
    2026 FDD · Item 6 · PDF p. 19
    Brand / advertising fund (Item 6)
    Not available
    No reviewed brand or advertising fund fee
    $50
    Custom Marketing Services: $50 to $135 per hour
    2026 FDD · Item 6 · PDF p. 21
    System scale & health
    Total outlets (Item 20)
    6,824
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 74
    Not available
    No reviewed outlet counts
    Net outlet change (Item 20)
    −218
    Calculated: 7,042 at end of 2023 → 6,824 at end of 2025
    Not available
    Only one year reported
    Outlet exits (Item 20)
    Not available
    No complete exit records for a year
    Not available
    No complete exit records for a year
    Franchising since (Item 1)
    Not available
    Not in reviewed records
    Not available
    Not in reviewed records
    Franchisor founded (Item 1)
    Not available
    Not in reviewed records
    Not available
    Not in reviewed records
    Performance (Item 19)
    Financial performance (Item 19), by location group
    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
    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.

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