How many business days does Bonchon have to approve or disapprove the lease or purchase agreement for the Restaurant Location?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
- (2) Approve or disapprove the lease or purchase agreement for the Restaurant Location within 20 business days after we receive it. If we do not communicate our approval or disapproval to you in that time, the agreement is deemed disapproved. (Franchise Agreement, Section 6.03)
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 45–60)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, Bonchon has 20 business days to either approve or disapprove the lease or purchase agreement for the Restaurant Location. This timeframe begins once Bonchon receives the agreement.
If Bonchon fails to communicate its decision, whether approval or disapproval, within those 20 business days, the agreement is automatically considered disapproved. This clause in the Franchise Agreement, Section 6.03, emphasizes the importance of Bonchon's timely response in the site selection process.
For a prospective franchisee, this means that securing a suitable location and submitting the lease or purchase agreement promptly is crucial. The franchisee should factor in this 20-day review period when planning their timeline for opening a Bonchon restaurant. If Bonchon disapproves of the initial location, the franchisee will need to restart the site selection process, potentially causing delays and additional expenses.