What was the net change in the number of franchised Bonchon outlets during 2023?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2022 | 111 | 117 | +6 |
| 2023 | 117 | 127 | +10 | |
| 2024 | 127 | 143 | +16 | |
| Company-Owned | 2022 | 4 | 5 | +1 |
| 2023 | 5 | 4 | -1 | |
| 2024 | 4 | 4 | 0 | |
| Total Outlets | 2022 | 115 | 122 | +7 |
| 2023 | 122 | 131 | +9 | |
| 2024 | 131 | 147 | +16 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 84–91)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, the net change in the number of franchised outlets during 2023 was an increase of 10. At the start of 2023, there were 117 franchised Bonchon outlets, and by the end of the year, this number had increased to 127. This indicates a positive growth trend for the franchise system.
For a prospective franchisee, this growth can be seen as a positive indicator of the brand's health and appeal. A net increase in franchised outlets suggests that existing franchisees are finding success and that new entrepreneurs are interested in joining the Bonchon system. This can provide a level of confidence in the brand's business model and support system.
However, it's important to consider this number in the context of other factors. While the net change was +10, the document also shows that the total outlets opened during 2023 was 14, while 2 were terminated, 1 non-renewed and 1 ceased operations for other reasons. Prospective franchisees should investigate the reasons behind closures or non-renewals to fully understand the dynamics within the Bonchon franchise system. They should also compare this growth rate to previous years and industry benchmarks to assess whether it is sustainable and competitive.