Hear that crunch? It’s the sound of the Korean fried chicken wave closing in on New York and New Jersey…a surge of the Hallyu movement that is sweeping the nation.
Bonchon, the wildly popular Korean fried chicken restaurant concept with more than 120 U.S. locations, announced today it has signed a franchise agreement to open five locations throughout the New York and New Jersey markets. This will bring the brand’s world-famous signature menu to neighborhoods throughout Kings County, New York County and Queens County in New York as well as Middlesex County and Bergen County in New Jersey. YCY International FB1, LLC is developing the Korean fried chicken restaurants in the area, with the first location set to open in 2023.
This announcement comes at an exciting time for the brand, which currently has 13 locations in New York and New Jersey as well as 390-plus units worldwide, including in the countries of Cambodia, Myanmar, Philippines, Singapore, Australia, Thailand and Vietnam. Bonchon is continuing to prioritize ramping up growth in key cities across the United States, including the Midwest, Northeast and Southern markets.
“Expanding further into New York and New Jersey is a major priority for our ongoing development. As we broaden the communities we serve and grow our fanbase, we look to the talented franchisees behind this momentum,” says Greg Buchanan, chief administrative officer for Bonchon. “We’re looking forward to seeing Bonchon’s success in these new markets and continuing to bring our unique, flavorful menu to neighborhoods around the world.”
In addition to the brand’s growth planned for the New York and New Jersey markets, there are several other factors driving Bonchon’s impressive momentum, such as reaching a 24.7% AUV increase to $1.57 million since the time VIG Partners invested in the company at the end of 2018. According to Black Box Intelligence data, Bonchon’s year-over-year sales increase of 12 percent is outperforming the industry average and leading the fast casual and casual dining segments. The brand has displayed its perseverance and ability to thrive in all market conditions.
As its unwavering commitment to strategic expansion continues and as Bonchon locations sustain consistent sales growth, multi-unit operators have placed a high priority on adding the concept into their portfolios. An ideal Bonchon franchise candidate is dedicated to operational excellence and maintains a commitment to customer service and product quality.
Bonchon, which translates from Korean to English as “my hometown,” is known for its signature Korean fried chicken that is hand battered, double-fried to achieve its signature, crave-worthy crunch. Every piece of chicken is hand brushed to make each bite perfectly flavorful. Born in Busan, South Korea in 2002, Bonchon’s founder Jinduk Seo dreamed of sharing his favorite flavors with the world. In 2006, U.S. fans were able to Crunch Out Loud with the global sensation as the brand continued to expand across the country
