5/10

Franchimp Summary Rating

7 /10
Earnings Transparency
3 /10
Investment Accessibility
Higher than 77% of peers

Franchise Summary

Description
The franchisee will operate one or more Bonchon Korean fast-casual service restaurants. Among other original menu items (including appetizers, entrees, side dishes and beverages), the signature product offerings at Bonchon Restaurants are chicken wings and drummettes that are dipped into a runny batter, twice-fried and thinly coated with one of two intensely flavored proprietary sauces.
Company Background
Bonchon is a fast-casual Asian restaurant that specializes in Korean fried chicken. Bonchon was founded by Seung Jung Kim, who opened the first location in 2002. The company has since grown to include over 100 locations around the world with plans for more growth. The franchisor offers an excellent opportunity for qualified individuals to join our team and develop their own business while operating one or more Bonchon restaurants of their own.
Franchise Opportunity
The fast-casual food industry is growing rapidly, but it can be difficult to break into. Opening a Bonchon franchise is a great way to get started in the fast-casual food industry. With our help, you'll be able to open your own Bonchon Restaurant and serve our delicious Korean cuisine to your customers. Our team of experts will guide you through the process of opening and operating your Bonchon Franchise. We'll provide you with all the training and support you need to make your restaurant a success.
Corporate Structure
Bonchon Franchise LLC is New York limited liability company organized in June, 2011. Their principal business address is 213 West 35th Street, New York, New York, 10001. They have been offering franchises since August 2011.

Earnings Transparency

7 /10
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry

Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet

Financial Performance of "Standard" Units

Average Revenue Per Unit

Compared vs. QSR Industry

$1,390,243 / unit

Franchise Type: Standard

Average Revenue During 2020

$1,390,243
$173,917
Industry Low
$2,256,060
Industry High
Show All Years +

Franchise Types Available

# Type Investment Fees

Employee Contact Database

# Name Position Phone Number Email Address

Distribution of Bonchon Franchisees

Bonchon Franchise System Development in 2021

FAQ

How much investment do I need to start my own Bonchon business?
Franchisees typically require at least $768 to $1 investment to get their Bonchon business started
What are the initial franchise fees for Bonchon?
Franchisees typically need to pay at least $35 in fees directly to Bonchon in order to earn the right to launch their business
How much money can I make with a Bonchon franchise? What are the average revenues for a typical Bonchon business?
We estimate that the average revenue of an individual Bonchon unit is approximately $1,390,243. We based this on Item 19 in franchise disclosure document
How long do I need to commit to running a Bonchon unit? What is my contractual commitment?
Bonchon franchisees are typically required to sign up to a 10 year contract initially. The renewal length is 5 years. You can of course exit early but don’t expect to get any refund!

Accessibility

3 /10
The Franchisor's investment costs ranges from $768,934 to $1,158,501 which is Much Higher than the $0 to $0 average in the QSR industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc

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