
Bonchon Korean Fried Chicken
Korean fried chicken- 2023 Franchise 500 Rank
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#428 Ranked #343 last year
- Initial investment
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$483K - $1.2M
- Units as of 2022
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390 17.8% over 3 years
Many people love to sink their teeth into crunchy pieces of fried chicken dripping with succulent juices. Bonchon Korean Fried Chicken understands the love for good fried chicken with a memorable crunch to boot. This franchise with South Korean roots was born from the desire of Jinduk Seo to share flavorful chicken recipes with the world in 2002.
For the love of South Korean food, Jinduk traveled to New York in 2006 to open his first restaurant after running 20 restaurants in his home country. Jinduk single-handedly created and perfected his signature sauces and chicken recipe, attempting to give them that special touch and taste. Bonchon Korean Fried Chicken is hand-battered, double-fried, and hand-brushed with their sauces for the crunch that the company prides its chicken on.
Since beginning to franchise in 2006, Bonchon Korean Fried Chicken has expanded to over 100 U.S. franchises to go along with more than 250 international locations.
Why You May Want to Open a Bonchon Korean Fried Chicken Franchise
When you open a Bonchon Korean Fried Chicken franchise, you will own part of a dream that led one man to create signature Asian dishes in the U.S. The franchisor offers varied dining experiences, including the traditional sit-down, sports bar, and quick-service restaurants appealing to families, corporates, and busy professionals alike.
A franchisee with Bonchon Korean Fried Chicken must be ready to be the principal in charge of the daily running of the restaurant. You have to be hands-on; this opportunity may not work for you if you want a passive investment. While any previous restaurant and hotel experience may not be necessary to become a franchisee, it may come in handy.
Bonchon Korean Fried Chicken has been ranked in Entrepreneur’s Franchise 500 based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
What Might Make a Bonchon Korean Fried Chicken Franchise a Good Choice?
Bonchon Korean Fried Chicken will afford its franchisees with on-site and initial training to bring you up to speed with the company’s operations. Additionally, you will receive the right to use the franchisor’s logos and signage at your location. You will also access a location setup package that includes layout, site assistance, approval, and interior design. For your daily operations, a cooking and operations manual will be provided.
To be part of the Bonchon Korean Fried Chicken franchise team, you should make sure that you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements.
How To Open a Bonchon Korean Fried Chicken Franchise
As you decide if opening a Bonchon Korean Fried Chicken franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Bonchon Korean Fried Chicken franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement with Bonchon Korean Fried Chicken, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Bonchon Korean Fried Chicken franchising team questions.
A typical Bonchon Korean Fried Chicken franchise agreement runs for ten years. Franchisees may be allowed to renew their agreement if they meet the franchisor’s requirements.
Company Overview
About Bonchon Korean Fried Chicken
Business Overview
- Franchising Since
- 2006 (2023-2006 years)
- # of employees at HQ
- 49
- Where seeking
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This company is offering new franchisees throughout the US.
This company is offering new franchisees worldwide.
- # of Units
- 390 (as of 2022)
Information for Franchisees
Here's what you need to know if you're interested in opening a Bonchon Korean Fried Chicken franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
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Initial Franchise Fee
Information Circle - $40,000
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Initial Investment
Information Circle - $483,245 - $1,187,229
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Net Worth Requirement
Information Circle - $700,000
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Cash Requirement
Information Circle - $250,000
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Veteran Incentives
Information Circle - $10,000 off first-unit franchise fee
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Royalty Fee
Information Circle - 5%
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Ad Royalty Fee
Information Circle - 1.5%
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Term of Agreement
Information Circle - 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Bonchon Korean Fried Chicken has relationships with third-party sources which offer financing to cover the following: startup costs, equipment
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 55 hours
- Classroom Training
- 35 hours
- Ongoing Support
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NewsletterMeetings & ConventionsGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite Selection
- Marketing Support
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Co-op AdvertisingAd TemplatesRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
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Can this franchise be run from home/mobile unit?
Information Circle - No
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Can this franchise be run part time?
Information Circle - No
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Are exclusive territories available?
Information Circle - Yes
Interested in ownership opportunities like Bonchon Korean Fried Chicken? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Bonchon Korean Fried Chicken landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Bonchon Korean Fried Chicken ranked on other franchise lists? Find out below.
Ranked #428 in 2023
Entrepreneur’s 44th annual Franchise 500® ranking shines a light on the unique challenges and changes that have shaped the franchise industry over the last year—and how franchisors have adapted and evolved to meet them.
Ranked #186 in 2023
If you're interested in an opportunity with international appeal, start your search with our ranking of the top franchises seeking to expand outside the U.S.
Ranked #10 in Chicken in 2022
Our annual list of the top restaurant and other food franchises, divided up by category, is the perfect place to start if you’re craving a food-based business opportunity.
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