According to Bonchon's 2025 Franchise Disclosure Document, one Bonchon outlet in New York was reacquired from a franchisee during 2024. The table provided in Item 20 details the changes in outlet status across various states. This reacquisition contributes to the overall count of franchise outlets that Bonchon manages, and it is important to note that one outlet in New York also closed during the same year. The net effect was that the number of Bonchon outlets in New York remained at one.

For a prospective franchisee, this information highlights the potential for Bonchon to reacquire a franchise. It is important to understand the circumstances under which Bonchon might reacquire a franchise, as this could impact a franchisee's investment and operational control. The closure of another outlet in New York during the same year could also indicate market challenges or specific location-related issues that potential franchisees should investigate further.

It is also worth noting that Bonchon provides contact information for current and former franchisees, as listed in Exhibit N. This allows potential franchisees to gather firsthand insights about the factors that may lead to reacquisition or closure. Speaking with current and former franchisees in New York could provide valuable context and help in assessing the risks and opportunities associated with operating a Bonchon franchise in that state.

Overall, the data suggests that while Bonchon is expanding, individual locations can be subject to change, including reacquisition by the franchisor. Prospective franchisees should carefully consider these factors and conduct thorough due diligence to understand the dynamics of the market and the terms of the franchise agreement regarding reacquisition.