Cup Bop began in Salt Lake City in 2013 as a single food truck. When owner Jung Song initially opened, there was little interest. He had to breakdance and yell a lot in order to attract people. It had the desired effect. Locals loved the truck so much that it spawned a few brick-and-mortar quick casual eateries. Dok Kwon was a regular at the restaurant and over time became acquainted with fellow Korean Song. Kwon went on to work as an investment banker in New York. Cup Bop, though, he never forgot.
Kwon became restless after 7 years in New York. He wanted to try something new in his life and work, so he phoned Song and offered to assist build the company. Song was open to the idea, and he appointed Kwon as the company’s COO. Kwon kept his promise and did exactly what he said he’d do. He was instrumental in expanding the company to 37 sites in the United States and over 100 in Indonesia. Beyond the businesses in Utah, Idaho, Arizona, Colorado, Nevada, and Oklahoma, the couple now intends to expand to every US state.
Cupbop: What Is It?
Cupbop is a fast-casual restaurant franchise situated in the United States’ Rocky Mountains. This cuisine brand’s street food is inspired by Korean barbeque, and it tastes great and is quite energetic.
After discovering Korean food, Junghun Song founded Cupbop in 2013. Cupbop’s first food truck debuted in Salt Lake County, Utah, and the company has steadily grown since then.
Many people prepare their own delectable dishes with superfood components. Cupbop operates 36 shops in the United States as of April 2022.
Arizona, Colorado, Idaho, Nevada, Oklahoma, and Utah are among the states where he has food trucks.
Cupbop’s serves a variety of cuisines. In their cuisine department, rice bowls are the main item. It makes chicken, beef, pork, veggies, and tofu bowls, among other things.
Cupbop also provides numerous Korean staples such as mandu (a Korean dumpling) and kimchi, in addition to this meal.
After Shark Tank, What Happened to Cupbop?
Cupbop is a Korean barbecue-style street food company that made an appearance on Shark Tank Season 13 Episode 21. This dish is energizing as well as delicious. This is a fast-casual American restaurant franchise based in the Mountain States of the United States. Dok & Jung, the company’s creator, has asked for $1 million in return for a 3% stake in the business on Shark Tank.
According to Wikipedia, by February 2022, this firm will have opened 36 total retail locations and six food trucks around the country.
This restaurant franchise is valued at $10 million, according to an estimate from the year 2020.
In the restaurant franchise market, there have been a lot of rivalries, and success hasn’t been easy.
Several significant restaurant franchise companies have recently been valued at billions of dollars. McDonald’s (1MCD), Chipotle Mexican Grill (2CMG), and Yum! are some well-known brands. Brands 3YUM.
To be successful in business, the restaurant chain must first strengthen its business strategy and food.
Is Barbecue Breaks the Deal?
Mark and Barbara have both found success with culinary franchises. Tom and Chee, their first restaurant, was a flop due to its rapid expansion, but others, such as The Fat Shack, Cousins Maine Lobster, and Press Waffle, have done well. Franchise success has also been achieved by firms that did not sign deals.
Robert, Lori, and Kevin aren’t likely to make an offer. Mark and Barbara will make the offer if it arrives (or both of them together). What intrigues me about this company is why it’s even on Shark Tank. They appear to have a grip on growing with over 100 sites worldwide. Maybe they think a Shark would help them develop faster, or maybe they just want to be seen in the Tank.
In a quick-service restaurant, authentic Korean BBQ.
There are a variety of healthy and vegetarian alternatives.
With ten degrees of spiciness and a variety of bowls, there’s something for everyone.
Rapid and profitable expansion.
At the Moment, Cupbop Is only Available in 6 States.