Emerging Korean BBQ Fast-Casual Franchise Shares Accomplishments from Quarter One and Expects Strong Performance Remainder of the Year
Cupbop, the nation’s first fast-casual Korean Barbeque in a cup concept, is thrilled to announce a strong first quarter of 2024, marked by continued franchise growth, menu innovation, and a focus on operational excellence within the leadership team.
The brand continued its impressive franchise expansion, opening two new locations in their home state of Utah, one at Salt Lake Community College and another at the Hill Air Force Base in Layton. Looking ahead, additional openings are planned in Spanish Fork and Bountiful, UT in Q2, with Tucson, AZ; Pocatello, ID; and Boise, ID slated for Q3. With five confirmed openings for 2024, Cupbop anticipates opening more new locations in the remainder of the year.
Cupbop achieved significant milestones this year, opening its first location inside a military base (Hill Air Force Base) and expanding its presence on college campuses with the opening at Salt Lake Community College. The brand also partnered with their Vice President of Franchise Development, Mike Penn, to open the first single-unit location in Cedar City, UT. Cupbop is now looking to broaden their footprint within its existing markets as well as new markets for new locations.
“We see tremendous potential in our existing markets,” said Kwon. “We’re excited about growing in new states throughout the U.S., we have witnessed the demand in the communities Cupbop currently serves and recognize the need to continue our expansion in cities where we already have a presence even as we tackle new areas.”
To support their leadership team during this period of rapid growth, Cupbop promoted Gina Silveira to Director of Operations. Silveira joined the company in February 2023 as a corporate trainer and has quickly impressed the brand with her dedication, work ethic, and passion for the Cupbop. In her new role, Silveira is responsible for overseeing all operational aspects of the business, ensuring a consistent and exceptional customer experience across all Cupbop locations.
Cupbop’s Q1 success story includes exciting menu innovation with the introduction of the Snow Bop, a limited-time offer that was a hit with customers. Cupbop remains committed to becoming a more efficient and successful operator while staying true to its fun and energetic brand identity. The company is optimistic about the future of the restaurant industry, particularly for strong brands like Cupbop that are well-positioned to weather market fluctuations.
“My conviction on the brand has never been higher and we are actively pursuing strategic expansion initiatives to reach new markets and further enhance customer accessibility,” said Dok Kwon, COO of Cupbop. “We remain committed to delivering an exceptional Cupbop experience while solidifying our brand presence as a leader in the fast-casual Korean cuisine game.”
Founded in 2013 by Junghun Song, the concept of Cupbop originally began as a food truck in Salt Lake City. The brand quickly captured the attention of locals and tourists, but has not opened for franchise opportunities until now. Cupbop’s sole franchisee group recently raised an additional $10,000,000 in funding to accelerate Cupbop store openings, which shows the franchisee’s strong conviction in the Korean QSR brand. The fast-casual Korean establishment is committed to providing quality cuisine while showcasing Korean flavors and culture. Serving up tasty noodles, the brand offers a unique take on Korean BBQ classics that puts an emphasis on fresh, quality ingredients. Ensuring that everyone can enjoy the Cupbop experience, the brand caters to a variety of dietary needs, providing delicious gluten-free and vegetarian options.
With 59 locations currently operating throughout the U.S., Cupbop is seeking experienced multi-unit franchisees with an entrepreneurial spirit, strong people management skills, and a passion for providing delicious, high-quality products and unmatched customer service to its community. The corporate team offers prospective franchisees the tools to operate successfully through teamwork and strong leadership while creating a first-class experience for guests. Including the franchise fee, the initial investment for an Cupbop franchise is between 300k-650k.
For more information about franchising opportunities and available territories, visit Cupbop.com/contact.
As the nation’s first quick-service Korean Barbeque in a cup franchise, Cupbop is committed to providing quality Korean cuisine. The brand has seen success both internationally and nationally with over 170 locations in Indonesia and 55 locations open throughout the states of Utah, Idaho, Arizona, Colorado, Nevada, Texas and Oklahoma. Originally founded as a food truck in 2013, the brand has stayed true to its roots with small storefronts and simple operational procedures, offering a streamlined business model that helps ensure franchisee success Cupbop is dedicated to highlighting Korean culture and has reimagined the Korean barbeque experience with their unique menu items. For more information, visit Cupbop.com.
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