TL;DR
Bonchon has signed a franchise agreement to open five locations in New York and New Jersey, expanding its Korean fried chicken concept to the region. The brand currently has 13 locations in New York and New Jersey and over 390 units worldwide.
Bonchon, the wildly popular Korean fried chicken restaurant concept with more than 120 U.S. locations, announced today it has signed a franchise agreement to open five locations throughout the New York and New Jersey markets. This will bring the brand’s world-famous signature menu to neighborhoods throughout Kings County, New York County and Queens County in New York as well as Middlesex County and Bergen County in New Jersey. YCY International FB1, LLC is developing the Korean fried chicken restaurants in the area, with the first location set to open in 2023.
This announcement comes at an exciting time for the brand, which currently has 13 locations in New York and New Jersey as well as 390-plus units worldwide, including in the countries of Cambodia, Myanmar, Philippines, Singapore, Australia, Thailand and Vietnam. Bonchon is continuing to prioritize ramping up growth in key cities across the United States, including the Midwest, Northeast and Southern markets.
“Expanding further into New York and New Jersey is a major priority for our ongoing development. As we broaden the communities we serve and grow our fanbase, we look to the talented franchisees behind this momentum,” said Greg Buchanan, chief administrative officer for Bonchon. “We’re looking forward to seeing Bonchon’s success in these new markets and continuing to bring our unique, flavorful menu to neighborhoods around the world.”
In addition to the brand’s growth planned for the New York and New Jersey markets, there are several other factors driving Bonchon’s impressive momentum, such as reaching a 24.7% AUV increase to $1.57 million since the time VIG Partners invested in the company at the end of 2018. According to Black Box Intelligence™ data, Bonchon’s year-over-year sales increase of 12 percent is outperforming the industry average and leading the fast casual and casual dining segments. The brand has displayed its perseverance and ability to thrive in all market conditions.
As its unwavering commitment to strategic expansion continues and as Bonchon locations sustain consistent sales growth, multi-unit operators have placed a high priority on adding the concept into their portfolios. An ideal Bonchon franchise candidate is dedicated to operational excellence and maintains a commitment to customer service and product quality.
Bonchon, which translates from Korean to English as “my hometown,” is known for its signature Korean fried chicken that is hand battered, double-fried to achieve its signature, crave-worthy crunch. Every piece of chicken is hand brushed to make each bite perfectly flavorful. Born in Busan, South Korea in 2002, Bonchon’s founder Jinduk Seo dreamed of sharing his favorite flavors with the world. In 2006, U.S. fans were able to Crunch Out Loud with the global sensation as the brand continued to expand across the country.
Bonchon is a global restaurant brand known for distinctive Korean double-fried chicken, Asian fusion cuisine, and Korean specialties. Born in Busan, South Korea in 2002, the concept was established in the United States in 2006. Bonchon sets out to have its fans “Crunch Out Loud” by sharing the joy of hand-battered, double-fried, crazy crispy Korean fried chicken with the world. It currently has more than 390 restaurants across eight countries including Thailand, Philippines, Singapore, Cambodia, Myanmar, Australia, U.S, and Vietnam.
The brand has earned several accolades – it was recognized by Business Insider as “the gold standard for fried chicken” as well as included on Nation’s Restaurant News 2022 “Top 500 Restaurants”, Fast Casual Magazine’s 2022 “Top 100 Movers & Shakers” and Entrepreneur’s 2022 “Franchise 500”, “Fastest Growing Franchises”, “Top Food Franchise” and “Top Global Franchise” lists.
In this story
This story was originally published in Franchising.com on November 3, 2022. Burnaze summarizes and links to the original reporting.
Read the full story at Franchising.comLiked this? Get the week's franchise news, explained
- Sunday 8 AM ET weekly + a monthly deep dive
- Sections picked for the industries you follow
- Every claim linked to its source. Free.