How many Bonchon franchise agreements have been signed in Texas, but the outlet has not yet opened?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Column 2 Year | Outlets at Start of Year | Outlets Opened | Outlets Reacquired from Franchisee | Outlets Closed | Outlets Sold to Franchisee | Outlets at End of the Year | |---|---|---|---|---|---|---|---| | Maryland | 2022 | 0 | 0 | 0 | 0 | 0 | 1 | | | 2023 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2024 | 1 | 0 | 0 | 0 | 0 | 1 | | Massachusetts | 2022 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2023 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2024 | 1 | 0 | 0 | 0 | 0 | 1 | | New York | 2022 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2023 | 1 | 0 | 0 | 0 | 0 | 1 | | | 2024 | 1 | 0 | 1 | 1 | 0 | 1 | | Texas | 2022 | 1 | 1 | 0 | 0 | 0 | 2 | | | 2023 | 2 | 0 | 0 | 1 | 0 | 1 | | | 2024 | 1 | 0 | 0 | 0 | 0 | 1 | | Total | 2022 | 4 | 1 | 0 | 0 | 0 | 5 | | | 2023 | 5 | 0 | 0 | 1 | 0 | 4 | | | 2024 | 4 | 0 | 1 | 1 | 0 | 4 | Table No. 5 Projected Openings as of December 31, 2024
| State | Franchise Agreements Signed But Outlet Not Opened | Projected New Franchised
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 84–91)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, as of the end of the 2024 fiscal year, there were four franchise agreements signed in Texas for which the outlet had not yet opened. This indicates that Bonchon is continuing to expand its presence in Texas, with several franchisees committed to opening new locations.
For a prospective franchisee, this information is valuable as it provides insight into the brand's growth trajectory and market penetration in Texas. It suggests that there is interest in the Bonchon franchise within the state, but also highlights the importance of understanding the timeline and potential challenges involved in opening a new outlet. The FDD also projects that six new franchised outlets will open in Texas in the next fiscal year.
It is important to note that the number of franchise agreements signed but not yet opened can fluctuate due to various factors such as site selection, permitting delays, construction timelines, and franchisee financing. Prospective franchisees should inquire about the average time it takes to open a Bonchon franchise in Texas and what support Bonchon provides to help expedite the opening process. Understanding these factors can help a franchisee better prepare for the initial stages of launching their Bonchon business.
Furthermore, the FDD includes a list of franchisees who have signed a franchise agreement but have not yet opened an outlet as of the end of the 2024 fiscal year. This list is included as Exhibit N to the Disclosure Document. A prospective franchisee should contact these franchisees to understand their experiences and the challenges they may be facing in opening their Bonchon locations.