Does the Bonchon agreement define 'Financial Partner'?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
After entering into this Agreement and before the opening of the franchised Restaurant (although in no case earlier than two months before the opening of the Restaurant), your General Manager and Manager must attend and successfully complete an initial training program (the "Initial Training Program") which we will provide at no additional expense to you. If you (if franchisee is an individual) or your Operating Principal (if franchisee is an entity) will engage in the on-site management of the Restaurant's day-to-day operations on a full-time basis, then you or your Operating Principal will be considered the General Manager and must attend and successfully complete our Initial Training Program. If you (if franchisee is an individual) or your Operating Principal (if franchisee is an entity) will not be supervising the day-to-day operation of your Bonchon Restaurant on a full-time basis, then you must either attend and successfully complete our Initial Training Program or our partner training program (the "Partner Training Program") at no expense to you prior to opening your Bonchon Restaurant, and an additional manager must successfully complete the Initial Training Program (the Bonchon Restaurant must have at least two (2) fully-trained managers who intend to work in the Restaurant on a full-time basis). The Initial Training Program and Partner Training Program will be conducted for approximately 15 days to up to 20 days and may take place at our Restaurant Support Center in Dallas, TX and/or at a Bonchon Training Restaurant we designate. We will determine the date of commencement, location and duration of the Initial Training Program and Partner Training Program and notify you of them.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
Based on the 2025 Bonchon Franchise Disclosure Document, the term 'Financial Partner' is not explicitly defined within the provided excerpts. However, the document does refer to a 'Partner Training Program'.
According to the FDD, if a Bonchon franchisee (if an individual) or their Operating Principal (if the franchisee is an entity) will not be supervising the day-to-day operation of their Bonchon restaurant on a full-time basis, then they must either attend and successfully complete the Initial Training Program or the Partner Training Program at no expense before opening their Bonchon Restaurant. Additionally, another manager must successfully complete the Initial Training Program, ensuring that the Bonchon Restaurant has at least two fully-trained managers who intend to work full-time at the Restaurant.
While the term 'Financial Partner' isn't defined, the 'Partner Training Program' suggests that Bonchon recognizes different levels of involvement for its franchisees, with some potentially taking a more hands-off, investment-focused approach. A prospective franchisee should clarify with Bonchon the specific roles, responsibilities, and qualifications associated with the 'Partner Training Program' to understand if it aligns with their intended level of involvement and investment in the franchise.