Bunsik

About Bunsik

Bunsik is now franchising. The popular Korean street food brand from London, which has boasted selling a corn dog every 20 seconds, is looking to expand its food franchises to the rest of the UK.
The brand has become an Instagram success, with people travelling from across the UK to sample one of its dishes. This is thanks to its focus on high-quality ingredients, new flavours, and an attention to detail and consistency.

Bunsik is a vibrant Korean street food eatery born from a successful established UK hospitality group. From the outset, the brand has been driven by a vision of becoming a successful and profitable QSR franchise.

Although a small brand in comparison with other multinational QSR brands, Bunsik is becoming popular with high street and shopping centre landlords, helping to drive footfall by offering consumers something different.

How does the Bunsik model work?

Bunsik has been created by a leading London hospitality group and was developed from day one as a franchise concept. The upshot of this is that its systems and processes are geared to manage rapid scalability and ensure consistency and simplicity for each franchised store, regardless of its location. The last few years have seen a process of testing, refining, and rechecking this business model to ensure the easiest possible route to success and growth.

Specialising in popular Korean street foods like corn dogs, ddukbokki, and Korean-style fried chicken, Bunsik brings the authentic flavours of Korea to its customers.

In summary:

• A quick service restaurant (QSR) serving high-demand Korean flavours
• A leading UK seller of corn dogs (K-Dogs)
• Part of a large UK-based group of companies trading since 2009
• Benefits from a skilled management team
• Continuing to grow company-owned stores as well as franchises
• Has a large social media following and a popular menu
• Benefits from its own proprietary products, meaning no reliance on third-party wholesalers
• Its central kitchen ensures quality and reliability
• Has its own warehousing and logistics
• Low skill, low operating costs, low cost of entry
• New to market, so there are plenty of locations still available

What type of franchisee is Bunsik looking for?

Bunsik has been created, and its systems developed, to attract franchisees capable of rapid expansion.

The brand is looking to create partnerships with experienced businesspeople who have the ability to scale a team to open and manage 10+ locations over time. In order to take advantage of this opportunity, it is seeking those who can bring experience as much as financial ability. Its franchisees operate under a mutually agreed-upon development agreement with a large territory to ensure they have the ability to meet their growth targets. Bunsik works with franchisees on an individual basis to agree on a growth plan and territory size.

The brand’s ideal franchisee will have the knowledge of operating a very busy fast food franchise or restaurant business. Any experience within franchising as a franchisee will be considered a bonus.

All a franchisee’s orders are supplied from Bunsik’s own warehouses, and the pre-prepared food is created in its central kitchens. This is delivered to franchisees as needed via its simple ordering systems. This ensures simplicity and cost reduction for franchises.

Bunsik has been tried and tested in recent years, achieving “market-leading returns”. Its goal is to be a simple, highly profitable QSR based upon its new high-demand menu, offering proven products worldwide. Rather than innovating new products, it is focused on perfecting what is already on the market. All of its food is prepared and cooked within minutes, meaning fast service for all of its products.

Training and support

Ensuring franchisees are successful is essential to Bunsik’s growth:

Initial setup
Bunsik helps to manage the selection and setup of a franchisee’s premises. Its team’s experience enables them to identify the location with the best profile for the business. In conjunction with each franchisee, the brand will:

• Identify suitable premises
• Assist in negotiating a lease
• Plan the fit-out and preparation of the premises
• Fit out the premises
• Organise and coordinate initial marketing
• Undertake training for franchisees and their staff
• Order stock
• Provide a launch programme and marketing

Initial training
Bunsik will provide on-the-job training at its corporate sites dealing with all matters of the daily running of a store as well as team training. This will include learning all its operational systems, dealing with customers, store-level marketing, and fiscal management.

There is typically up to two weeks of training for management. Depending on the background of the staff, they will go through a minimum of one week of training. Training will be on a pass or fail basis and will take place under the support of senior Bunsik experts.

Did you know?

Bunsik has an expected revenue of £1,165,000 after 2 years!

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The brand’s franchisees are provided with immersion days focused on its business systems and processes, providing them with the hands-on skills and knowledge they need to begin trading in a professional and organised manner.

Post-launch support
An experienced Bunsik operations manager will be present at new stores during the launch phase, working alongside franchisees for a minimum of two weeks to ensure a smooth opening.

Training
Bunsik’s training programme provides comprehensive familiarisation with each of its products, including an understanding of their market positioning and effective sales techniques.

Customer service: Bunsik is committed to delivering high-quality customer service. As a customer-focused business, it has developed numerous systems to ensure customer satisfaction and encourage repeat business.

Stock ordering: The training programme includes detailed instructions on how to order stock and products, along with strategies to maintain optimal stock levels to support efficient operations.

Branding: Understanding the Bunsik brand and its market positioning is another key component of the training. It includes guidance on using supplied advertising materials, adhering to approval procedures, and leveraging national and local promotional initiatives.

Internal communication and administration: Bunsik provides training on the procedures for establishing and maintaining effective communication with both the franchisor and other franchisees. This also includes systems for managing administrative tasks such as reporting, record-keeping, health and safety, and hygiene compliance.

Staff management: The training programme covers strategies for building a cohesive team environment, effective staff management, and developing leadership skills to ensure a productive and harmonious workplace.

Financial information

Sales & profit
Based on a maximum of £27,860 per week in sales in month 36. Note that the profit is after deducting management and marketing fees (combined 10% of turnover).

YEAR 0/1
Sales: £894,098
Cost of sales: (£476,544)
Gross profit: 47% / £417,544
Overheads: (£274,503)
Profit: 16% / £143,041

YEAR 2
Sales: £1,164,392
Cost of sales: (£620,621)
Gross profit: 47% / £543,771
Overheads: (£325,416)
Profit: 19% / £218,355

YEAR 3
Sales: £1,327,527
Cost of sales: (£707,572)
Gross profit: 47% / £619,955
Overheads: (£356,372)
Profit: 19% / £263,538

Example store opening costs
(Based on a prime location within a large city centre)

1,500 square foot unit: £180,000
2,000 square foot unit: £220,000

Why is Bunsik a good investment?

The team at Bunsik has extensive experience in owning and expanding businesses within the food and hospitality sectors. The brand operates as part of the Maguro Group, established in 2009, which has since diversified into six distinct food brands, a retail business, a premium nail and spa salon, and a design and construction business that supports the growth of its own brands and those of external clients. The collective expertise and commitment of the Bunsik team ensure that success is not merely an aspiration but a fundamental objective.

When it comes to franchisees, Bunsik is looking for quality, not quantity. It is seeking a limited number of franchisees to take prime locations across the UK and then build a large cluster of stores within a large territory. This means this opportunity is extremely limited. By the end of 2025, Bunsik hopes to have all the required franchisees, at which point its focus will be on helping them grow to multiple stores within a short period of time, within prime locations.

In partnership with its franchisees, Bunsik is seeking to serve a broader customer base, enhance its brand recognition, and capitalise on the synergistic marketing potential its model offers. These partnerships will, it says, deliver mutual growth and shared benefits.

Its team stress that it is not a mass-market franchise; instead, Bunsik is looking for people with the drive, knowledge, and ability to take advantage of this opportunity.

What locations is Bunsik looking to target?

Major cities: Birmingham, Leicester, Sheffield, York, Northampton, Milton Keynes, Liverpool, Leeds, Edinburgh, Glasgow, Aberdeen, Newcastle, Manchester, Brighton, Southampton, Ipswich, Norwich, Reading, Rochester, Exeter, Torquay, Belfast

Regions: North East, North West, Scotland, Northern Ireland, North Wales, Midlands, East Midlands, Yorkshire, South West, South East, Home Counties

What are the franchise terms of agreement and renewal?

10 years with the right to renew (subject to normal conditions) rolling five-year agreement