From $900 parking lot pop-up to billion-dollar franchise in 8 years: How 3 friends turned a chicken stand into a global brand

Time of India

2 days ago

In 2017, three childhood friends in Los Angeles pulled together just $900 and a dream. Armed with a beat-up fryer, borrowed tables, and an untested recipe for
Nashville hot chicken
, they set up shop in a modest East
Hollywood
parking lot. Fast forward to 2024 — their brainchild,
Dave's Hot Chicken
, has become a fiery global sensation, now sizzling under a deal reportedly worth close to $1 billion.
This isn't just a story about chicken. It's a tale of grit, friendship, and flavor-fueled ambition.
No Restaurant Experience, Just a Craving for More
At the heart of this chicken revolution was 24-year-old
Arman Oganesyan
, a stand-up comedian with zero culinary background and a pocketful of persistence. His pitch? Selling spicy
chicken tenders
with a twist. Despite early skepticism — including from chef friend Dave Kopushyan, who famously said,
'I don't even like chicken'
on
How I Built This Podcast with Guy Raz
in 2024— Oganesyan's vision proved contagious. Eventually, Kopushyan joined in, and the duo brought in a third friend, Tommy Rubenyan. With no investors willing to bite, the trio pooled their savings and hatched a plan.
They began obsessively researching fried chicken, binging documentaries, eating their way through LA's chicken scene, and experimenting in Kopushyan's kitchen. Some attempts were bizarre — like using gummy bears — but serendipity struck when leftover chicken landed in a near-empty pickle jar, creating the now-iconic brine.
From Sidewalk Sales to Celebrity Endorsements
According to a report from
CNBC Make It
, the pop-up's first night was modest — just four meals sold to Oganesyan's girlfriend and friends — but within days, word-of-mouth reached food critic Farley Elliott. The buzz exploded. Lines formed. Nightly revenues skyrocketed. Within two months, the team was pocketing $10,000 apiece — a staggering sum for a trio that had just been scraping by.
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View this post on Instagram
A post shared by Arman Oganesyan (@armanoganesyan_)
Momentum only built from there. In 2019, a powerhouse investor group — including
Samuel L. Jackson
, Michael Strahan, and Red Sox owner Tom Werner — took notice. Under the leadership of seasoned CEO Bill Phelps, Dave's Hot Chicken rapidly expanded into a
franchising
juggernaut.
— hiphopunison (@hiphopunison)
A Billion-Dollar Bite
Recently, the brand's journey took another dramatic turn as private equity giant
Roark Capital
acquired a majority stake in Dave's Hot Chicken. While the financial details remain under wraps, the deal is pegged at 'pretty close' to $1 billion — a jaw-dropping return on a humble $900 start.
— TheFranDawg (@TheFranDawg)
With over 300 locations across the U.S., Canada, the U.K., and the Middle East, the brand is on track to double its $600 million revenue from last year to $1.2 billion in 2024. Remarkably, the original founders, including Oganesyan, Kopushyan, and the Rubenyan brothers, will stay on board, holding minority stakes and steering the company's next wave of expansion.
What started as a leap of faith and a love for heat has become a blazing symbol of how friendship, flavor, and entrepreneurial spirit can change everything — one spicy chicken tender at a time.
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