BONCHON CONTINUES MOMENTUM ANNOUNCING STRONG FIRST QUARTER

Fast-growing franchise brand signs 20 new store deals in the first 90 days of 2024

DALLAS, April 16, 2024 /PRNewswire/ -- Bonchon, a global leader in Korean fried chicken,  announces today that in Q1 2024, the company opened four new restaurants – two in California, one in New York, and one in Massachusetts – and signed an additional 20 new deals across the United States.

"We are on course to smash the record we set last year for deals signed," says Suzie Tsai, Bonchon's U.S. CEO. "Our flexible store formats combined with our simplified kitchen and operational ease are extremely attractive to individuals exploring a restaurant franchise."

In 2023, Bonchon achieved its strongest new store sales in company history with more than 40 locations signed throughout the year adding 13 new franchise partners.

The franchise concept, known for its distinctive Korean fried chicken, hand-battered and double-fried to achieve its craveable crunch and hand-brushed to perfection with its proprietary sauces, looks forward to bringing its unique flavor to several new markets in 2024, including Long Island and Staten Island, N.Y., Huntsville, Ala., and Tucson, Ariz.

Positioned for growth

While the ongoing popularity of Korean culture and cuisine has significantly contributed to interest in the brand, Bonchon has strategically evolved its variety of restaurant formats to enable franchise partners to open locations best positioned to succeed in their local markets. In addition to traditional full-dine and fast-casual formats as well as recent openings in malls and food halls, Bonchon launched its first two remote kitchens and first hotel location in 2023, with its airport debut slated for 2025.

To attract both customers and potential franchise partners, the brand continually focuses on menu innovation, which includes award-winning wings and signature sauces along with a variety of approachable Korean specialties. Innovation includes new seasonal sauces and menu extensions around Korean fusion menu items.

Continued expansion

Founded in Busan, South Korea in 2002, Bonchon first opened in the U.S. in New York City in 2006 and is well on its way to growing from 130 to 500 U.S. locations and 1,000 locations worldwide in the next five years. 2023 saw continued expansion within existing markets such as Chicago, Colorado Springs, Denver, Houston, Nashville, New York City, Raleigh, and Washington, D.C., with record-breaking openings in Smyrna, Ga. and White Plains, N.Y. demonstrating consistent performance beyond forecasted projections. On the international front, Bonchon debuted its first restaurant in France in 2023, with Laos and Taiwan planned to open in 2024.

"While Bonchon currently has locations in more than 25 states across the country, the brand is actively seeking franchise partners in markets including Georgia, Southern California, New Jersey, New York, Arizona, Southern Florida, and Texas," says Amanda Millikan, senior vice president of development at Bonchon.

About Bonchon
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 430 restaurants across nine countries including Thailand, Philippines, Singapore, Cambodia, Myanmar, France, 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 2023 "Franchise 500", "Top 10 Hot Franchise Trends" and "Top 12 Chicken Franchises to Buy" lists. Bonchon was also voted #1 in 2023 for "Best Chicken Wings" and "Best Korean Food" in The Dallas Morning News.

For more information about Bonchon, visit bonchon.com. To learn more about its franchise opportunities, visit franchising.bonchon.com.

SOURCE Bonchon