Add the ketchup, molasses, brown sugar, apple cider vinegar, honey, paprika, garlic powder, onion powder, kosher salt, and cayenne pepper in a medium saucepan. Stir them all together until well combined.

Place the saucepan on the stove over medium heat. Let the sauce simmer for about 10-15 minutes, stirring occasionally. The sauce will start to thicken and become a rich, glossy consistency. If you prefer a thicker sauce, let it cook a little longer, but keep an eye on it!

Taste your BBQ sauce and adjust the seasoning if needed. Add more cayenne pepper for extra heat or a bit more honey if you like it sweeter.

Once it reaches your desired thickness and flavor, please remove it from the heat and let it cool before use. If you're not using it immediately, store it in an airtight container in the fridge for up to 2 weeks.