St. Louis native David Choi is living proof that success doesn't have to come from the tech industry. With a winning idea and the drive to make it a reality, Choi turned his love of Korean food into a multimillion-dollar business.
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Seoul Taco, Choi's Korean-Mexican fusion fast-casual chain, is a massive success with numerous locations in two states. But it all started with a single food truck that Choi purchased for $18,000, using the last of his savings.
"I didn’t want to work three minimum wage jobs 100 hours a week," Choi explained in an interview. "I sold my car, cashed out my bank account and found someone selling a food truck in Philadelphia for $40,000. I had $18,000. He sold it anyway."
Undeterred by his lack of resources, Choi convinced friends and family to invest an additional $22,000 in his business.
Choi's gamble paid off. His Korean-inspired tacos quickly became a hit with customers, and he was able to recoup his initial investment in just a few months. Choi's talent for cooking and his ability to spot a winning concept helped him to grow Seoul Taco into the successful business it is today.
Choi's approach to expansion has been unconventional but effective. Instead of building new restaurants from scratch, he has transformed existing spaces into vibrant Seoul Taco locations, using local artists to create a unique and colorful atmosphere. His business acumen and creative vision have made Seoul Taco a beloved brand in the Midwest, and he shows no signs of slowing down.
Over the years, Seoul Taco has expanded into nine brick-and-mortar locations across Missouri and in the Chicago area, along with two food trucks and a catering business. The restaurant is known for its unique cuisine, which it calls Korean-American street fare. Menu items include tacos and burritos with Korean-inspired flavors and toppings, gogi bowls topped with fried eggs and nachos.
Instead of formal culinary training, Choi acquired his kitchen skills from his Korean-American family and various positions in the food industry, including making pizza, sandwiches and working in a Chinese restaurant.
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He credits these experiences with helping him manage his food truck better and ultimately laying the foundation for his now thriving business.
"I got most of my culinary training through my grandma and my mom, so I really honed in on that. I didn’t grow up with much, so I always worked different restaurant jobs, just always worked back of house at different little restaurants," he said.
As Choi looks to the future, he has big plans for his brand, including expanding into new markets and possibly creating a new concept. But no matter how big his business grows, he remains grounded and focused on what matters most: making great food that people love.
Investing in Startups and the future of American Small Business
It’s easy to forget the restaurant powerhouses of the world like Starbucks Corp., Chipotle Mexican Grill, Inc., McDonald’s Corp., and many others, were just small single-store businesses at one point. But, like Choi, those were once started by founders who had a vision and believed in themselves. But the investors in all of these early successes also made out well. Platforms like StartEngine allow anyone to invest in the future of American small businesses, with hundreds of startups and high-growth small businesses on their site to invest in. For example, Gameflip is building a digital marketplace for gamers that consists of both traditional gaming assets and blockchain-based assets. With over $160 million in sales volume and six million users on the site, Gameflip has seen significant growth despite its relative infancy. For a limited time, anyone can own shares in Gameflip alongside top Silicon Valley venture capitalists.
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