How can the agreement be amended for Bonchon?

According to Bonchon's 2025 Franchise Disclosure Document, the By-Laws of the corporation can be amended. Any or all provisions, whether contractual or regulatory of internal affairs, may be amended or repealed. This requires a vote of members entitled to cast at least seventy-five (75%) percent of the votes which all members are entitled to cast. This must occur at any regular or special meeting that is duly convened after the members receive notice of the meeting's purpose.

This means that significant changes to the way Bonchon operates or to the franchise agreement itself require a supermajority vote of the members. This protects the interests of individual franchisees, as Bonchon cannot unilaterally impose changes without a significant level of consensus among its members. The requirement for prior notice ensures that members are informed about the proposed changes and have an opportunity to consider their impact before voting.

For a prospective Bonchon franchisee, this amendment process offers a degree of security and influence. While Bonchon retains the ability to modify the system, it cannot do so without the support of a substantial portion of the franchise network. This mechanism allows franchisees to collectively shape the future direction of the Bonchon system and protect their investments. Franchisees should stay informed about proposed changes and actively participate in the voting process to ensure their voices are heard.