Regarding renewal of the Bonchon franchise agreement, what is the deadline for a franchisee to notify Bonchon in writing of their intent to renew?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
You must exercise your right to a Successor Term under this Agreement in the following manner:
- A. You must notify us in writing no more than nine months and no less than six months before the expiration of the Initial Term of this Agreement of your desire to enter into a Successor Franchise Agreement.
- B. Within thirty days after our receipt of your notice, we will deliver to you a copy of our then-current franchise disclosure document (if we are then legally required to do so) and a copy of your Successor Franchise Agreement in a form ready to be executed
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, a franchisee must provide written notification to Bonchon regarding their intent to pursue a Successor Franchise Agreement. This notification must be made no more than nine months and no less than six months before the expiration of the initial franchise term.
This requirement ensures that Bonchon has adequate time to assess the franchisee's eligibility for renewal and to prepare the necessary documentation. It also allows the franchisee sufficient time to evaluate the terms of the new agreement and make an informed decision about renewing their franchise. Missing this notification deadline could result in the franchisee losing the opportunity to renew their franchise agreement.
Following the franchisee's notification, Bonchon will provide a copy of the then-current franchise disclosure document (if legally required) and a copy of the Successor Franchise Agreement within thirty days of receiving the franchisee's notice. This allows the franchisee to review the terms and conditions of the renewal agreement before making a final decision.