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Not only will the concept thrive in the bustling Wilmington environment, but the city is just off of the I-95 corridor, allowing for easy access to vendors and support from core leadership.
With a population of over 70,000 people, Wilmington, Delaware, is often recognized as the urban hub of the region, rich with banking, innovation, world-class restaurants, arts and more. Now, it’s next on the docket for TaKorean, the Korean taco grill, franchise expansion.
“Wilmington is right on the I-95 corridor, so it’s really easy to access for vendors, and it’s easy for us to get to provide support,” explained TaKorean’s founder and CEO, Mike Lenard. “Locationally and population-wise, there are some pockets within the area where we could thrive.”
A standout among other parts of Delaware, Wilmington breaks from the calm beach towns of the peninsula to serve as a well-populated, easily accessible business hub.
Over one-third of the Wilmington population falls between the ages of 20 and 39, creating a remarkable customer base of millennials and Gen Z, two generations with a proven interest in build-your-own restaurant concepts, the convergence of multi-cultural flavors and a fresher take on their favorite foods.
Millennial households are pivoting their spending to fresher, less processed foods, Gen Z is seeking out anything in a bowl, and nearly everyone is looking for new, exciting flavors.
“There's not that much like us. I mean, some Korean bowl concepts also serve tacos that have opened over the years, but they can fall a little flat,” Lenard explained. “I wanted to create a fresh, light spin on the Americanized street food take on Korean food. We still have those unique flavors, but everything is made fresh, and we’ve incorporated a Latin-American twist.”
TaKorean has maintained an expectation of high quality, great flavors and colorful, customizable options since its inception, and those attributes in a quick-service model will be desirable to the Gen Z and millennial populations of Wilmington.
As the brand continues expanding, it is targeting multiple New Jersey markets and the larger Mid-Atlantic region.
The total investment necessary to open a TaKorean franchise ranges from $306,000 to $757,500 for a TaKorean full restaurant or $186,500 to $484,000 for a TaKorean Food Court/Hall outlet. This includes a $30,000 franchise fee.
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