Panda Express vs Sonic
Franchise Comparison 2026
Both Panda Express and Sonic are quick-service restaurants franchises. Panda Express requires an investment of $515K – $3.3M while Sonic requires $1.5M – $2.5M. In terms of revenue, Panda Express reports higher average unit revenue at $1.6M. Sonic has SBA lending data on file with a 8.3% charge-off rate. FranchiseVerdict rates Panda Express A (Strongest tier) and Sonic A (Strongest tier).
| Metric | Panda Express | Sonic |
|---|---|---|
| Verdict Grade | AStrongest tierStrongest tier | AStrongest tierStrongest tier |
| Investment Range | $515K – $3.3M | $1.5M – $2.5M |
| Franchise Fee | $25K | $15K |
| Royalty Rate | 8.0% | 5.0% |
| Average Revenue (Item 19) | $1.6M | $1.6M |
| SBA Charge-Off Rate | Limited data | 8.3% (144 loans) |
| Total Units | 2,502 | 3,412 |
| Unit Growth (YoY) | N/A | N/A |
| Year Began Franchising | 1995 | 1974 |
| FDD Year | 2025 | 2026 |
Investment Range
$515K – $3.3M
$1.5M – $2.5M
Franchise Fee
$25K
$15K
Royalty Rate
8.0%
5.0%
Average Revenue (Item 19)
$1.6M
$1.6M
SBA Charge-Off Rate
Limited data
8.3% (144 loans)
Total Units
2,502
3,412
Unit Growth (YoY)
N/A
N/A
Year Began Franchising
1995
1974
FDD Year
2025
2026