Selling a Sonic Drive-In Franchise

Franchise Resale & M&A Advisory for Sonic Franchise Owners

By Mercedes Shaffer, Managing Director | Highwater Partners

Selling a Sonic Drive-In franchise is a strategic transaction that requires brand-specific expertise, disciplined valuation, and national buyer exposure. Sonic operates within a distinctive drive-in QSR model with unique real estate, labor, and operational dynamics. Franchise resales are carefully evaluated by buyers, lenders, landlords, and the franchisor—making experienced M&A representation essential to achieving optimal value and a smooth closing.

At Highwater Partners, we specialize in franchise resale and M&A advisory for franchise owners, representing Sonic franchisees across the United States. We advise owners on single-unit sales, multi-unit portfolio exits, and strategic divestitures, delivering a professional, highly structured process designed to maximize value and ensure transaction certainty.

True to our name, Highwater Partners serves clients at the highest level, combining disciplined execution with senior-level advisory and respect for the significance of each franchise owner’s business.

Why Selling a Sonic Franchise Requires Specialized M&A Expertise

Sonic franchise resales involve unique system and operational considerations, including:

• Franchisor approval and formal transfer processes

• Buyer net worth, liquidity, and QSR operating experience standards

• Drive-in–specific brand compliance reviews and operational audits

• Lease assignment, landlord consent, and pad-site or freestanding real estate economics

• Carhop labor model, hours of operation, and menu complexity

These variables directly affect valuation credibility, buyer eligibility, financing, and transaction timelines. A general business broker may understand restaurants—but a franchise M&A advisor understands Sonic.

How Sonic Franchises Are Valued

Sonic franchise valuations are driven by cash flow durability, operational execution, and real estate structure, not gross sales alone.

Key valuation considerations include:

• Seller’s Discretionary Earnings (SDE) or EBITDA

• Trailing twelve-month and historical financial performance

• Drive-thru and drive-in sales mix and margin structure

• Labor efficiency within the carhop model

• Lease terms, rent ratios, and remaining option periods

• Management depth versus owner involvement

• Brand compliance and anticipated capital expenditures

At Highwater Partners, we apply M&A-grade financial normalization and valuation methodologies, ensuring the business is positioned credibly for sophisticated buyers and lenders.

Who Is Buying Sonic Franchises Today

Active buyers for Sonic franchises include:

• Existing Sonic franchisees expanding regionally

• Multi-unit, multi-brand QSR operators

• Private equity–backed franchise platforms

• Strategic buyers seeking differentiated drive-in restaurant concepts

Through maximum listing exposure and targeted outreach, we ensure sellers reach the most qualified and motivated buyers nationwide.

National Exposure, Executed at the Highest Level

Highwater Partners is a national business brokerage and M&A advisory firm representing franchise owners and independent multi-unit operators across restaurants, wellness, fitness, beauty, and pet services. Led by a team of elite business brokers and franchise M&A professionals, the firm delivers maximum listing exposure, disciplined valuation, and transaction management at the highest level.

Highwater Partners delivers broad, national exposure through:

• A proprietary database of 100,000+ qualified franchisees and private equity investors

• A nationwide network of 110+ professional business brokers across the United States

• Direct outreach to active, brand-aligned buyers

• Professionally prepared marketing materials built for serious acquirers

Our approach balances maximum exposure with disciplined execution, ensuring sellers receive both attention and professionalism at the highest level.

Why Sonic Franchise Owners Choose Highwater Partners

Franchise owners choose Highwater Partners because we provide:

• Top-tier professionals with deep franchise and M&A experience

• Brand-specific Sonic resale expertise

• Institutional-quality valuation and deal preparation

• National buyer reach supported by a disciplined process

• A service standard rooted in operating at the highest level

• Professional, discreet representation from start to close

We are trusted advisors for franchise owners who value execution, integrity, and results.

Our Sonic Franchise Resale Process

1. Confidential valuation and strategic exit planning

2. Professional CIM and transaction preparation

3. National buyer exposure and targeted outreach

4. Buyer qualification and franchisor coordination

5. Offer negotiation and deal structuring

6. Transaction management through closing

Every step is designed to protect value, reduce execution risk, and respect the responsibility of representing your business.

When Is the Right Time to Sell a Sonic Franchise?

The strongest outcomes typically occur when:

• Cash flow is stable or improving

• Financials are clean and defensible

• Real estate and lease terms support buyer financing

• Management systems are in place

• Buyer demand is active

Preparation and representation often matter as much as timing.

Speak with a Franchise M&A Advisor

If you are considering selling your Sonic franchise—now or in the future—begin with a confidential consultation.

Mercedes Shaffer

Managing Director | Highwater Partners

Call or text: 714.330.9999