In a medium-sized saucepan, combine 1 cup of tomato ketchup, 1/2 cup of brown sugar, 1 tbsp Molasses, 1/4 cup of apple cider vinegar, 2 tablespoons of Worcestershire sauce, 1 tablespoon of honey, 1 tablespoon of Dijon mustard, 1 teaspoon of garlic powder, 1 teaspoon of onion powder, 1 teaspoon of smoked paprika, a pinch of cayenne pepper, and salt and black pepper to taste.
Place the saucepan over medium heat and whisk all the ingredients together until well combined.
Once the sauce starts to simmer, reduce the heat to low and let it cook for about 15-20 minutes, stirring occasionally. This will allow the flavors to meld together and the sauce to thicken slightly.
After the cooking time, remove the saucepan from the heat and let the sauce cool completely.
Once the sauce has cooled, transfer it to an airtight container or jars for storage. It can be refrigerated for up to 2 weeks, or you can freeze it for longer shelf life.