Growth Club
1851 Growth Club
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4 Must-Know Asian Restaurant Franchises in 2024
There is strong demand for Asian food across the U.S., and franchisees have an opportunity to tap into the underserved market. Here are some of our favorite investment opportunities.
In 2022, the global Asian cuisine market produced over $145 billion in revenue and is expected to grow at a compound annual growth rate of 7% through 2030. Nearly three-quarters of counties across the U.S. have at least one Asian restaurant, and it’s clear consumer demand is persistent.
Here are four opportunities for franchisees to consider to break into the lucrative industry.
Teriyaki Madness
- Unit Count: 150+
- Initial Investment: $350,500 - $976,860
Teriyaki Madness is a Seattle-style teriyaki franchise that offers fresh, flavorful, filling bowls that also happen to be healthy. With dine-in, pick-up, third-party delivery and catering options, Teriyaki Madness allows owners to capture multiple streams of revenue and scale even more quickly.
Tin Drum Asian Kitchen
- Unit Count: 11
- Initial Investment: $394,300 - $608,250
Tin Drum Asian Kitchen was launched 21 years ago in Atlanta, Georgia, and has steadily grown throughout the state since. With fast-casual pan-Asian food including soups, salads, wings, appetizers and ramen, Tin Drum offers affordable yet exciting meal options for diners on-the-go.
Cupbop
- Unit Count: 208
- Initial Investment: $160,000 - $663,400
Cupbop is a “Korean BBQ in a cup” restaurant. The concept’s founder was born in Korea, but the brand itself started in the U.S. just over a decade ago and it offers a refreshing twist on Korean BBQ (or “spirit,” as its website says) in a cup. With both mobile and storefront restaurant franchise models, Cupbop has a flexible model that can be accessible to entrepreneurs of all kinds.
“The Cupbop brand, the truck, started in Utah … The founder had come from Korea and was living in Utah,” Chief Operating Officer Dok Kwon said in a recent interview with Workstream. “They really accepted our brand with open arms. We’ve been able to grow one store at a time starting here, and it’s really still our hub market. We have the most locations by far here in Utah.”
Dae Gee Korean BBQ
- Unit Count: 7
- Initial Investment: $380,875 - $954,125
Dae Gee Korean BBQ is a Denver-based Korean BBQ restaurant using recipes that have been passed down for generations. With unlimited offerings of chicken, beef and pork bulgogi, along with other Korean BBQ mainstays, Dae Gee is a place for guests to “pig out” while connecting with loved ones over a delicious meal.
While there is a clear demand for Asian food nationwide, it can be difficult to find franchise concepts in the space that have proven their model through expansion and stood the test of time. These four brands offer unique but reliable models for entrepreneurs looking to bring in-demand dining options to their communities.
Learn more about other food-service franchise opportunities on 1851:
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