SONIC Drive-In (NASDAQ: SONC) today announced a new franchise agreement that will bring five new drive-ins to the Raleigh-Durham market over the next five years, adding to the 23 drive-ins currently operating in the Raleigh-Durham market.
SONIC Drive-In (NASDAQ: SONC) today announced a new franchise agreement that will bring five new drive-ins to the Raleigh-Durham market over the next five years, adding to the 23 drive-ins currently operating in the Raleigh-Durham market. The nation’s largest chain of drive-in restaurants has signed an agreement with a new SONIC Drive-In franchisee, PGM Properties, LLC, to develop these locations.
“The folks of PGM Properties have extensive experience in the franchise world, and we are confident in their capabilities to develop the first new locations in Raleigh since before the recession,” said Bob Franke, senior vice president of franchise sales and international development for Sonic. “Franchisees have many different restaurant concept options, but the SONIC Drive-In experience offers something special. The light-hearted, family-friendly atmosphere with menu items available only at SONIC and the sense of humor reinforced by our national Two Guys advertising are unique, all equating to a brand that is attractive to both franchisees and guests.”
PGM Properties is a full-service commercial development firm with over 75 years of combined commercial real estate experience among the founding principles alone. The company specializes in the development of grocery stores, shopping centers and single-tenant retail and restaurant locations in the Southeast.
“SONIC will be our first foray into the restaurant industry as owners, but it’s something we’ve been pondering and planning for a long time,” said Dudley Parker, principal of PGM Properties. “After a great deal of research and strong recommendations from other SONIC franchisees, we made the easy choice to pursue a development agreement with SONIC Drive-In. It has been a wonderful experience, and we look forward with working with this strong brand for years to come.”
In April 2014, SONIC Drive-In announced plans to open 1,000 new locations in the span of 10 years. This Raleigh agreement is one piece of the nation-wide puzzle that will culminate in reaching the brand’s ultimate goal of having a drive-in within 10 minutes of every single guest.
SONIC’s unique menu, friendly Carhops and over one million drink combinations make it among the most differentiated concepts in the restaurant industry. SONIC continues its transition from a regional powerhouse to a national brand, and current national expansion plans mean that franchise opportunities are still available. In North Carolina, there are additional opportunities throughout the state. Individuals interested in pursuing a SONIC franchise are encouraged to visit SonicFranchises.com for more information.
SONIC, America’s Drive-In, is the nation's largest drive-in restaurant chain serving more than 3 million customers every day. Nearly 90 percent of SONIC’s 3,500 drive-in locations are owned and operated by local business men and women. Over the past 60 years, SONIC has delighted guests with signature menu items, more than 1 million drink combinations and friendly service by iconic Carhops. SONIC received top honors as America's "#1 burger quick service restaurant," ranking in the top 5 of all brands in the 2014 Temkin Experience Ratings report.
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