Bonchon Riding A Wave Of Success And Targeting 400 Units Over The Next 4 Years
Bonchon’s growing momentum is showing no signs of slowing down as America continues to embrace the unique and flavorful Korean fried chicken brand. The demand for Asian foods is reflected in the franchise’s average unit volume, which has experienced a 27 percent increase over the last four years. Riding this Hallyu – or the Korean wave - of success, Bonchon now has plans to open 400 units by 2026.
“Our growth over the last couple of years is only continuing to accelerate as customers are joining in on the fried chicken obsession and are exploring their interest in Korean cuisine,” said Flynn Dekker, CEO of Bonchon. “And, we see this as a trend that’s here to stay. After someone experiences our fried chicken, it’s hard not to keep coming back for more.”
The brand has set a brisk pace of opening new restaurants over the last couple of years, despite challenges brought on by the pandemic. After opening 11 locations in 2021, the brand now has more than 115 locations open across the U.S. with plans to open 30 more by the end of 2022.
Check out these eye-popping numbers about the brand:
- 5-Year Restaurant Count Growth CAGR: Up 21%
- 4-Year Avg. Unit Volume (AUV): $1.59MM, Up 27%
- Same store sales growth (SSSG) 2021 vs 2019: Up 17.3%
- Bonchon consistently outperformed all other segments and cuisines in its two-year metrics (2021 vs. 2019) with positive 23% same store sales as of Dec. 25, 2021, according to Black Box Intelligence.
All of this is why franchisees are buying into the concept whole heartedly. Bonchon has new franchise development agreements in Illinois, California, Colorado, Maryland, North Carolina, Florida, New York, Minnesota, Tennessee, and Texas. Tennessee is a new market for the brand and the company expects surging demand and sales in the region. The brand is particularly interested in partnering with multi-unit franchisees and there are multiple open territories across the country.
Born in Busan, South Korea in 2002, Bonchon took root in the heart of New York City four years later in 2006. The global restaurant brand is known for its distinctive Korean double-fried chicken, Asian fusion cuisine, and other Korean specialties. Its fans “Crunch Out Loud” by sharing the joy of hand-battered, double-fried, crazy crispy Korean fried chicken with the world.
The franchise industry has taken notice. Bonchon has been named a Top 10 Innovative Restaurant by Fast Casual Magazine and one of the 10 Chains to Watch by Restaurant News. The brand has earned several other accolades – it was recognized by Business Insider as “the gold standard for fried chicken” and included on Nation’s Restaurant News’ 2021 “Top 500 Restaurants”, Fast Casual Magazine’s 2021 “Top 100 Movers & Shakers” and Entrepreneur’s 2022 “Franchise 500”, “Fastest-Growing Franchises” and “Top 200 Global Franchise Brands” list.
Now is the time to buy into a brand that has not only a proven concept but a growing fan base and powerful performance metrics to boot. Visit https://bonchon.com/franchising/ for more information on how you can become a part of this unique brand.
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