- 2024 Franchise 500 Rank
-
#474 Ranked #428 last year
- Initial investment
-
$203K - $1.2M
- Units as of 2023
-
415 19.6% 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 (18 years) |
---|---|
# of employees at HQ | 50 |
Where seeking |
This company is offering new franchises throughout the US. This company is offering new franchises worldwide. |
# of Units | 415 (as of 2023) |
|
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.
Initial Franchise Fee
|
$35,000 |
---|---|
Initial Investment
|
$202,557 - $1,157,172 |
Net Worth Requirement
|
$700,000 |
Cash Requirement
|
$250,000 |
Veteran Incentives
|
$10,000 off first-unit franchise fee |
Royalty Fee
|
5% |
Ad Royalty Fee
|
1.5% |
Term of Agreement
|
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 | 65 hours |
---|---|
Classroom Training | 51 hours |
Ongoing Support |
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
|
Marketing Support |
Co-op Advertising
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
Is absentee ownership allowed? | No |
---|---|
Can this franchise be run from home/mobile unit?
|
No |
Can this franchise be run part time?
|
No |
Are exclusive territories available?
|
Yes |
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.
Sign Up for Our Franchise Newsletter
Stay up to date on the latest news and trends affecting the franchise industry.
Related Franchises
Are you eager to see what else is out there? Browse franchises that are similar to Bonchon Korean Fried Chicken.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
McDonald's Is Extending Its $5 Meal Deal in Most of the U.S. — Get the Details Here
The $5 deal, created in response to a demand for value from inflation-strapped consumers, was initially planned for a four-week run.
McDonald's is About to Bring Back a Beloved Menu Item — Here's What You Need to Know
A new test run indicates that the popular Snack Wraps — off the U.S. menu since 2016 — may return soon.
Join the #1 Breakfast Franchise with Eggs Up Grill!
Eggs Up Grill has a talented executive team focused on driving the strategic growth of the brand. They provide franchisees access to open territories, the ability to diversify a portfolio, and is a brand with demonstrable growth.
In a 'Landmark Victory' for Franchises, NLRB Drops Expanded Joint Employer Appeal — Here's What it Means for Businesses
The attempt to implement the expanded Joint Employer Rule is "finally finished" in a win for the IFA-led coalition and for franchises across the U.S.
4 Things I Wish I Knew Before Starting My Franchise Journey
Discover key insights about franchise ownership by understanding these four learned lessons from a seasoned franchise owner and consultant.
Four Takeaways for the Franchise Industry From My Time at the Republican National Convention
Matt Haller, President and CEO of the IFA, says the stakes are high for franchisors and franchisees in the upcoming presidential election.