Tapping Into the Demand of High Traffic Areas, TaKorean Targets New Jersey for Expansion

As TaKorean, the Korean taco grill concept, kicks off its franchise expansion, New Jersey has been brought forward as a strong target market opportunity. Not only is the state relatively close to New York suburbs, but it provides access to the high-traffic I-95 corridor.

“I think there’s a lot of opportunity in the New York suburbs,” explained Mike Lenard, founder and CEO of TaKorean. “There are shopping centers that we would fit well in, and the I-95 corridor runs through the state. Areas like Brunswick and Newark are great targets.”

The highly-trafficked interstate runs from Florida to Maine and is estimated to serve 110 million people. It also accounts for the facilitation of about 40% of the country’s gross domestic product. Further, the route serves an area with a population density more than three times that of the U.S. average.

Target market opportunity

The convergence of these circumstances creates a ripe market for business. Not only do the targeted locations lend themselves to serving densely populated areas, but they are close enough to capitalize on the demand of those traveling along the East Coast.

Crucial to TaKorean’s brand is its unique simplicity and welcoming, comfortable company culture. The brand’s core leadership has prioritized respect, passion and a love for great food since day one, and those values are present on all levels.

Franchisee requirements

As he considers prospective franchisees, Lenard explained that determination, coachability and an ability to truly embrace the brand and what it stands for are key attributes.

“There’s a personality type that we want. If you’ve never stood and faced a customer, whether it’s at a shoe store, a car wash, or whatever, that’s something that’s really important. It’s a question of whether they really get it, like people and feel a sense of fulfillment in taking care of people,” he added.

As the brand continues expansion, it is targeting multiple New Jersey markets as well as 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.