Korean BBQ In A Cup: Dok Kwon, COO of Cupbop

Modrn Business

In this episode I had a great conversation with Dok Kwon, COO of Cupbop, a fast growing Korean BBQ in a cup franchise opportunity. In the episode we discussed the Cupbop brand story, growth, investment opportunity, and future plans Dok's Background: - Originally from Korea, moved to the US at age 11 - Worked in finance at Goldman Sachs and Citadel as an investor and analyst - First encountered Cupbop as a customer when it was a food truck in Utah - Joined Cupbop 4 years ago to help scale the brand nationally Cupbop Overview: - Founded in 2013 in Salt Lake City Utah, now over 50 locations in 6 states - International presence with 170+ units in Indonesia - Korean BBQ ingredients like meat, rice, noodles served in a cup - Customizable with different proteins, spice levels, and sauces - Popular menu items: Combo Bop, Beef Bop, Rock Bop (Korean fried chicken) Growth and Expansion: - Planning to reach 100 locations by 2024, with focus on multi-unit franchise partners - Looking for experienced operators to grow brand thoughtfully and maintain culture - Unit investment around $400-500K for buildout, good unit economics Brand Strengths: - Strong branding and social media presence organically built - Viral TikTok account with over 700K followers - Appeared on Shark Tank in 2019 for exposure - Raving fan base, high online reviews and engagement Tailwinds and Market Potential: - Riding wave of interest in Korean culture and food - Creating new QSR category as first national Korean food brand - International presence with 170+ units in Indonesia, plus inquiries from Dubai and elsewhere Takeaways: - Differentiated emerging franchise with strong unit economics - Experienced leadership team focused on culture and quality - Authentic brand with engaged following and growth momentum