Is Panera Bread or Sonic cheaper to open?

Panera Bread costs $1,266,805–$4,651,324 and Sonic costs $1,485,200–$2,522,900 to open (FDD Item 7). Panera Bread has the lower entry cost.

Which earns more, Panera Bread or Sonic?

Panera Bread reports $2,595,936 average annual unit revenue vs $1,552,145 for Sonic (FDD Item 19). Panera Bread is higher. For Panera Bread: Reported as net sales, not gross sales.

Which is the better franchise, Panera Bread or Sonic?

FranchiseVerdict grades Panera Bread A and Sonic A, from FDD Items 5–7, 19–21 and SBA loan performance. See the full side-by-side above.

Panera Bread vs Sonic

Franchise Comparison 2026

Both Panera Bread and Sonic are quick-service restaurants franchises. Panera Bread requires an investment of $1.3M – $4.7M while Sonic requires $1.5M – $2.5M. In terms of revenue, Panera Bread reports higher average unit revenue at $2.6M. Note: Reported as net sales, not gross sales. Sonic has SBA lending data on file with a 8.3% charge-off rate. FranchiseVerdict rates Panera Bread A (Strongest tier) and Sonic A (Strongest tier).

Metric	Panera Bread	Sonic
Verdict Grade	AStrongest tierStrongest tier	AStrongest tierStrongest tier
Investment Range	$1.3M – $4.7M	$1.5M – $2.5M
Franchise Fee	$35K	$15K
Royalty Rate	5.0%	5.0%
Average Revenue (Item 19)	$2.6M	$1.6M
SBA Charge-Off Rate	Limited data	8.3% (144 loans)
Total Units	2,206	3,412
Unit Growth (YoY)	N/A	N/A
Year Began Franchising	1993	1974
FDD Year	2025	2026