Booming Chicken Chain Believes It Can Reach 1,000 Stores In the Next 5 Years
If thoughts of twice-fried chicken, beef bulgogi-topped French fries, and savory pork buns are enough to make your mouth water, prepare yourself for some exciting news. Bonchon, a Korean fried chicken chain that serves all of these dishes and more, could be coming to an area near you as it plans for rapid growth.
In a new update posted on April 16, Bonchon recapped some of its recent expansion efforts and previewed its ambitious growth goals for the future. The chain has already opened four new restaurants within the first quarter of 2024, including two in California, one in New York, and one in Massachusetts. Additionally, it has signed 20 new deals for future restaurant openings since the start of the year, adding to the record 40 signings it achieved during 2023.
"We are on course to smash the record we set last year for deals signed," Bonchon's U.S. CEO Suzie Tsai said in a statement.
The chain, which was founded in South Korea in 2002, currently operates more than 130 restaurants in the United States and more than 430 worldwide. Bonchon said in the release that it's "well on its way" to reaching 500 U.S. locations and 1,000 locations worldwide in the next five years. In other words, Bonchon believes it can more than triple its presence in the United States, making its signature hand-battered chicken and Korean fare much more widely available to Americans.
Bonchon plans to open locations in several brand-new markets this year, such as Long Island and Staten Island, N.Y., Huntsville, Ala., and Tucson, Ariz. It's also seeking new franchise partners to help grow its brand further in markets such as Georgia, Southern California, New Jersey, New York, Arizona, Southern Florida, and Texas.
Bonchon customers should also expect to see the chain pop up in more nontraditional locations. After opening its first two remote kitchens and first hotel restaurant in 2023, the chain's first airport restaurant is slated to open in 2025.
Though we're just a few months into 2024, this year is already shaping up to be a major one for new chicken chain openings. The fan-favorite regional chain Bojangles just announced a new deal to open 30 locations in California, which will mark its first entry into the Golden State. Other brands plan to expand their store count by the hundreds in 2024 alone. Wingstop expects to add 270 net new restaurants globally this year, while Krispy Krunchy Chicken is looking to open 700.
Sign up for our newsletter!
