Director of Real Estate Development

We are a dynamic international restaurant franchise specializing in delicious fried chicken and casual dining experiences. Our focus is on providing friendly, high-quality service and creating a welcoming environment for families and friends alike.

The Director of Real Estate Development will partner with an existing Real Estate Director to jointly lead Bonchon’s U.S. real estate strategy, site selection process, and franchise asset optimization initiatives.

This role is designed to support a high-growth development platform, where responsibilities are divided across markets, deal flow, and strategic initiatives, while maintaining shared accountability for overall development performance.

The Director will own the end-to-end site selection process, support franchise development, and lead franchise transfers and asset repositioning efforts, ensuring disciplined growth and improved system performance.

• This role operates within a dual-director structure, requiring strong coordination and clear ownership.

Shared Responsibilities

• Site selection standards and approvals
• Real Estate Committee governance
• Pipeline reporting and performance tracking
• Alignment with Franchise Development and Construction
• Achievement of annual opening targets

Key Responsibilities

Market Strategy & Development Execution

• Execute market development strategy across assigned regions
• Support white space analysis and trade area prioritization
• Drive cluster-based development to build brand density
• Align real estate execution with franchise sales pipeline

Site Selection Process Leadership (Core Function)

Trade Area Alignment

• Validate trade areas based on demographics, traffic, and competitive positioning
• Ensure alignment with franchise territories and development agreements

Site Sourcing & Pipeline Development

• Build and maintain a high-quality pipeline of sites
• Leverage broker and landlord relationships for strong deal flow
• Identify both traditional and non-traditional opportunities

Site Evaluation & Screening

• Apply brand criteria:
• Visibility and access
• Parking and site functionality
• Co-tenancy and retail synergy
• Maintain discipline in filtering suboptimal sites

Financial Underwriting

• Lead site-level underwriting:
• AUV projections
• Occupancy cost thresholds
• ROI and payback expectations
• Ensure alignment with franchisee economics and brand standards

Site Approval & Governance

• Present site packages to Real Estate Committee
• Drive cross-functional alignment (Finance, Operations, Construction)
• Ensure timely approval decisions

Lease Execution

• Lead LOI negotiations and lease execution
• Ensure deal terms align with underwriting assumptions

Development Lifecycle Oversight

• Track sites from approval through opening
• Ensure execution timelines are met

Franchise Transfers & Asset Optimization

• Lead franchise transfer (resale) pipeline and execution
• Identify underperforming locations and drive refranchising strategies
• Partner with Franchise Development to place qualified operators
• Structure transfer economics, including:
• Reinvestment requirements
• Incentive structures
• Monitor post-transfer performance and turnaround success

Cross-Functional Leadership

• Partner closely with:
• Franchise Development (territory planning and pipeline)
• Construction & Design (buildout execution)
• Operations (unit performance and transitions)
• Finance (underwriting validation)
• Collaborate daily with the second Real Estate Director to ensure alignment and avoid duplication

Pipeline Ownership & Reporting

• Own pipeline across:
• Active site deals
• Lease negotiations
• Franchise transfers
• Provide reporting on:
• Deal conversion rates
• Lease timelines
• Openings vs. plan
• Ensure alignment with annual growth targets

• 8–12 years in QSR, retail, or franchise real estate development
• Proven experience in multi-unit expansion
• Experience working within franchise systems required
• Experience with franchise transfers or asset repositioning preferred
• Strong financial underwriting and deal structuring
• Deep understanding of site selection and trade area analysis
• Strong negotiation and relationship management skills
• Ability to operate in a collaborative, shared-leadership structure
• Executive communication and presentation skills
• Bachelor’s degree in Real Estate, Finance, Business, or related field
• MBA or Master’s in Real Estate is a plus

Join us as our Director of Real Estate Development to shape the future growth of our brand by transforming strategic site selections into thriving new locations!

Pay: $130,000.00 - $150,000.00 per year

Benefits:

• 401(k) matching
• AD&D insurance
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance

Work Location: In person

Salary : $130,000 - $150,000