Emerging Korean BBQ fast-casual concept looks to continue its success with plans to bring quality Korean cuisine to new communities in 2023
Cupbop, the nation’s first fast-casual Korean Barbeque in a cup concept, is starting the new year strong with plans for new locations and robust economic projections. With 47 locations throughout the United States and over 150 locations in Indonesia, Cupbop offers a delicious twist on Korean cuisine and is leading the way in the Asian quick-service restaurant space. The brand opened ten new locations and plans to build upon this growth in 2023.
This past year, Cupbop opened ten locations across Las Vegas, Idaho, Oklahoma, and Arizona, including Tucson, Tempe, and Phoenix. Part of a multi-unit deal, all three locations were opened by one franchisee who was grandfathered in since 2017. The brand anticipates opening 15-20 new locations in 2023, specifically targeting the Midwest and Southern areas of the country for future development.
“Sharing Korean culture across the U.S. is a huge part of what we do,” said Dok Kwon, Chief Operating Officer of Cupbop. “Our food is not only delicious, but is a way to bring communities together. It means a lot to us to be able to bring that experience to new cities around the country.”
Not only does the brand have plans for growth, it continues to see success. Cupbop was selected as the best fast food in Utah in Food & Wine’s ranking of the best fast food in every state. It saw a high level of revenue, and ended December with 26% year-over-year same store sales growth.
“This year, our goal is to continue to expand and build upon the brand,” continued Kwon. “We are looking to selectively open new locations in our target areas, and partner with strong franchisees who can further our mission to bring Korean BBQ inspired food to the US.”
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 47 locations currently operating throughout the U.S., Cupbop is planning on opening at least 15-20 locations in 2023. The brand 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 https://www.cupbop.com/contact.
