Korean culture has undeniably become widespread worldwide, including the Philippines. Switch on your TV and you’ll see numerous Korean dramas being shown. Browse Youtube and you’ll likely encounter K-Pop music video suggestions. Explore a mall and chances are, you’ll encounter a handful of Korean stores.
Among said stores, BonChon Chicken Restaurant is probably one you’re generally familiar with. Whether you’re a K-Pop fan or not, you’ll most likely love BonChon’s Korean-style glazed fried chicken.
Are you considering to have your own BonChon franchise in the future? Read below to learn more about the franchise investment you need and the application procedures you’ll have to undertake to begin your BonChon franchising journey.
BonChon’s History
BonChon’s founder Jinduk Seh had a goal: to let the world know about Korean Fried Chicken.
To achieve this, he honed his skill in preparing chicken. He ended up with a recipe that yielded the combination of a crispy exterior with succulent meat on the inside. But he didn’t stop there. He developed a distinct glaze that adds either a Soy Garlic or Spicy flavor to the chicken.
These flavors would then become two of the most identifiable flavors of BonChon when it first opened in Busan, South Korea, in 2002. Over time, BonChon quickly expanded and started opening branches in the U.S. (beginning 2006), Thailand (starting 2010), and eventually, in the Philippines (in 2010).
Some of the food that BonChon currently offers are the following:
- 1 pc or 2 pcs Chicken – with Soy Garlic, Spicy, Honey Citrus, or Crunchy Garlic flavor
- Chicken Sandwich
- Chicken Poppers with Fries
- Kodog (Hotdog Sandwich with the flavors of BonChon)
- Fish and Chips (Fish with Fries)
- Calamari
- Crispy Shrimp Bowl
- Crispy Squid Bowl
- Beef Bulgogi Bowl
- Bibimbowls
- Bingsu
- Crepe
Franchise Fee and Total Investment
BonChon’s franchise fee is $40,000. The franchisee will have to fund the construction of the branch and procure some inventory products, like the chicken, sauce, cooking equipment, etc., from BonChon itself. Given these extra costs, franchisees should expect to pay an additional $400,000 to $700,000 as initial investment.
Furthermore, 3.75% to 4.5% of gross revenues will also be paid to BonChon as royalties.
The length of the franchise agreement is 10 years, with a five-year renewal option depending on the performance of the store.
Lastly, do note that there is a 4-week initial training held in the main branch in New York where the franchisee will have to pay for personal expenses, except for the training fee which is already covered by the franchise fee.
Application Procedures
- Fill out the form at http://bonchon.com.ph/about/franchise to begin your application. When BonChon receives your application, they will inform you about the availability of a BonChon franchise.
- Schedule an interview with one of the Franchise Consultants.
- BonChon will provide it’s franchise disclosure document (FDD). Take the time to read through it and it would be good to seek some legal advice.
- Pass some valid financial details (See Application Requirements).
- Confirm your interest by signing the franchise agreement.
Application Requirements
Be ready with the following to ensure that you can finish the application procedure:
- Duly-accomplished Franchise application form
- An available commercial space around 100 – 150 square meters in size, situated in places near malls, preferably in the following places (according to the company): Puerto Princesa, Tuguegarao, Gen San, Ilocos, Santiago Isabela, Metro Manila
- A copy of latest 6 months bank statements and/or your bank statement & W-2 form.
- In terms of financial requirements, the main BonChon website stated the following:
- Minimum Liquid Assets of $250,000
- Minimum Net Worth of $700,000
Contact Information
Interested to franchise Bon Chon but you still have questions? Contact them below:
Joseph Clyde N. Rodriguez
Business Development Manager
Cellphone Numbers: (63) 0917-5991253 or (63) 0998-8479582
Bon Chon Chicken Philippines
3/F The Spa Building
80 E. Rodriguez Jr. Avenue
Quezon City 1110 Philippines
Looking to franchise food carts or other food business? View our Complete list of Philippine companies available for Franchising
Information and Photo Sources: Official BonChon Website (bonchon.com.ph)
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