What was the total number of Bonchon franchise transfers across all states in the year 2023?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
2 Transfers of Franchised Outlets from Franchisees to New Owners (other than the Franchisor) For Years December 31, 2022 to December 31, 2024**
| State | Year | Number of Transfers | |---|---|---| | Arizona | 2022 | 0 | | | 2023 | 1 | | | 2024 | 0 | | California | 2022 | 4 | | | 2023 | 1 |
| State | Year | Number of Transfers |
|---|---|---|
| 2024 | 0 | |
| Florida | 2022 | 2 |
| 2023 | 0 | |
| 2024 | 1 | |
| Georgia | 2022 | 0 |
| 2023 | 1 | |
| 2024 | 0 | |
| Illinois | 2022 | 0 |
| 2023 | 1 | |
| 2024 | 1 | |
| Maryland | 2022 | 3 |
| 2023 | 1 | |
| 2024 | 0 | |
| Michigan | 2022 | 0 |
| 2023 | 1 | |
| 2024 | 1 | |
| North Carolina | 2022 | 0 |
| 2023 | 0 | |
| 2024 | 1 | |
| Texas | 2022 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 84–91)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, there were a total of 9 franchise transfers in 2023 across all states. This information is crucial for potential franchisees as it provides insight into the stability and desirability of existing Bonchon franchises. A higher number of transfers could indicate franchisees are choosing to sell their businesses, which may be due to various factors such as profitability, management issues, or personal reasons.
Specifically, the data shows the number of transfers per state. For example, Arizona had 1 transfer, California had 1 transfer, Florida had 0, Georgia had 1, Illinois had 1, Maryland had 1, Michigan had 1, North Carolina had 0, Texas had 0, and Virginia had 3. This level of detail allows prospective franchisees to assess transfer activity in specific geographic areas of interest.
Understanding the reasons behind these transfers is essential. Potential franchisees should investigate why these transfers occurred by speaking with current and former franchisees, as recommended in the FDD. While the FDD provides data on the number of transfers, it does not explain the reasons behind them, which highlights the importance of conducting thorough due diligence before investing in a Bonchon franchise.