Pitching a Popular Cuisine: Seeking $1M Investment for Expansion
Entrepreneurs pitch a convenient version of a popular cuisine, asking for $1M for 3% equity. Sharks impressed with impressive sales and potential.
00:00:00 Entrepreneurs pitch a convenient version of a popular cuisine. They ask for $1M in exchange for 3% of their company. Sharks are impressed with the product and its potential.
๐ฆ A Korean barbecue brand called CUPBOP is seeking a $1M investment from the Sharks on Shark Tank.
๐ฝ๏ธ CUPBOP offers a convenient version of Korean barbecue in a cup, with various ingredients like sweet potato noodles and a spicy sauce called Chapter.
๐ฐ The entrepreneurs behind CUPBOP are passionate about expanding the presence of Asian cuisine and believe there is room for growth in the Quick Service restaurant industry.
00:02:03 Shark Tank entrepreneurs seek $1M investment for their popular and spicy beef and pork dish. Impressive sales of $18.7 million and 27 brick and mortar stores in 8 years.
๐ถ๏ธ CUPBOP offers a spicy beef and pork mix dish with customizable spice levels.
๐ฐ Their gross margin is around 75% and they have generated $18.7 million in sales in the past year.
๐ Started as a food truck, CUPBOP now has 27 brick and mortar stores.
๐ Despite COVID-19, CUPBOP experienced growth in sales through takeout, delivery, and increased same-store sales.
00:04:07 CUPBOP, a Korean brand, seeks $1M investment on Shark Tank to expand their business to 2,000 stores and offer a unique customer experience.
๐ฆ CUPBOP, a Korean restaurant, is seeking $1M investment from the sharks in Shark Tank.
๐ผ The founders already own half of the business and raised money through organic cash flow.
๐ During COVID, CUPBOP pivoted to a delivery business and had great success.
00:06:12 A Korean entrepreneur shares his incredible journey of coming to the US and starting the first Korean national brand. He asks for $1M investment on Shark Tank.
๐จโ๐ฉโ๐งโ๐ฆ The entrepreneur shares a personal story about his family immigrating to the US and the sacrifices they made for the American dream.
๐ช He emphasizes the importance of hard work and seizing opportunities in order to achieve success.
๐จโ๐ฉโ๐งโ๐ฆ๐ The entrepreneur reflects on his own experience as a parent and the deep love and gratitude he has for his family.
00:08:19 CUPBOP seeks $1M for 3% equity with a $33M valuation. Sharks impressed with growth rate and cash flow. Multiple offers received.
๐ฐ The entrepreneurs are asking for $1 million for a 3% stake in their company, with a valuation of $33 million.
๐ The growth rate of the company has been impressive, with 10 more stores planned to open by the end of the year.
๐ฆ Two Sharks make offers, but one believes the valuation is too high and the other wants a larger stake in the company.
00:10:26 Entrepreneurs on Shark Tank seek $1M investment for CUPBOP, a fun brand with huge potential. Mark offers $1M for 7% equity, while others offer loans. Marketing and PR expertise sought.
๐ฅ The business is valued at $18 million and the entrepreneurs are seeking $1 million from the Sharks.
๐ฐ Multiple Sharks offer a million dollar loan, ranging from 3-8% interest and 5-7% equity.
๐ฃ Mark offers $1 million for 7% equity with the promise to provide marketing and PR support.
00:12:33 Entrepreneurs pitch their business on Shark Tank, asking for $1M in exchange for equity. After negotiations, they agree on a deal for 5% equity.
๐ผ The entrepreneurs are asking for $1 million in exchange for equity.
๐ค The negotiation settles at a 5% equity stake for the investment.
๐ The entrepreneurs express excitement and optimism about the opportunity.
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