What FRANdata Thinks

New Concept Report Insights – 2022 Volume 1

February 15th, 2022 by TJ Wagman

In this first volume of the NCR for 2022, we have identified 78 new brands. One of the things that stuck out with this batch is the jump of international-based brands coming into the US market. We found 11 international brands for this quarter alone, compared to a total of 18 foreign-based brands from all of last year.  Following this theme, below are some interesting international brands we found:

  • Happy Lamb Hot Pot:  Happy Lamb Hot Pot is a creation by the original founder of Little Sheep Hot Pot. Little Sheep Hot Pot, which began in 1999, has over 300 units across the globe, and in 2011 was purchased by Yum! Brands eventually separating into Yum!’s Chinese operations with the creation of Yum China in 2016.
  • Burrito Bar: Burrito Bar is the US extension of the Canadian franchise, BarBurrito. The concept began in 2005, since then, the brand has grown to 113 units. The company believes it can grow to 400 locations over the next seven to ten years and views the US as a possible 3,000 store market.
  • Kyochon: Kyochon is the number one fried chicken brand in South Korea. They have over 1,200 locations in South Korea with annual sales exceeding $334 million in 2019. The brand plans to open 500 stores in 25 international markets over the next 5 years. It will be interesting to see how the brand is able to grow in the US market with stiff competition from similar established concepts like Bonchon.

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