It’s no surprise that the fastest-growing brand by sales growth in 2023, according to the Technomic Top 500, was a coffee chain (7 Brew). But the fact that the second-fastest is a casual concept serving Korean barbecue and hot pot has certainly turned some heads.
Even more impressive is the fact that KPOT Korean BBQ & Hot Pot had only three units open at the end of 2020, but boasted 55 at the end of 2023, with sales of roughly $300 million.
Margaret Monahan Farrell, head of marketing for KPOT parent Vertex Hospitality Group, said the company developed KPOT specifically to be scalable to accommodate rapid growth.
“And once we started opening the first, say, dozen locations,” she said, “we saw how many people continued to essentially create this fanatical following around us.”
She added that the company is locating KPOT in areas that are “rich in cultural and ethnic diversity but lacking a little bit in the various types of cuisine to fulfill the modern-day palette.”
KPOT’s menu features a wide range of meats, seafoods, and veggies on both its BBQ and Hot Pot menus. The latter also includes a number of noodles and soy options, plus eight soup bases from which to choose.
Monahan Farrell said that bringing together these two preparation methods under one menu is what sets KPOT apart from competitors. She adds that there are grill guides and highly trained servers who navigate guests through the experience, but the goal is to allow them to enjoy a sort of choose-your-own-adventure meal.
“We know the importance of high-quality premium food, great service, ambiance, but also recognizing that you don't want someone hanging over you all the time,” she said. “You really want to enjoy it, right? And part of the fun with KPOT overall as a concept is you get to take your time and scroll through all of the options.”
The company is developing off-premises options like bento boxes so that the brand can be more accessible to customers, particularly during the lunch daypart. Take-out and delivery are available at two-thirds of units today, she said.
KPOT’s explosive growth will continue into 2025, Monahan Farrell said, as customers continue to discover the exciting flavors of Korean barbecue and hot pot.
“You pair [those] with the affordable price point and a great lively bar [and] nightlife atmosphere,” she said, “and that's the recipe for success right now.”
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