FOOD TRUCK BUSINESS PLAN GUIDE
Have you been thinking about starting a food truck business in your locality?
It is no news that everybody needs food as a primary need for survival, so opening a business that solves those needs should be a priority in your list of businesses to start this year if you have one.
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The food truck business is a thriving business in different parts of the world. It is still finding its footing in Africa.
One prominent characteristic of the food cart business and trucking services is that it is not capital intensive to set up and run when compared to the standard restaurant business with a fixed location.
From researches carried out by our team, it was found that people who run this food truck business don’t have more than four employees under them which makes it easy to run.
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There are two types of food trucks. One is the mobile food preparation car where food is been prepared inside the car while customers wait. The customer stops either stop the moving car and places an order or they go and meet the mobile food car at a spot and place their order.
ESTIMATE: Cost Of Renting A Food Truck
Business plan sample for a mobile food truck business
The second type of food truck business is the industrial catering vehicle (ICV).
The industrial catering vehicle doesn’t prepare their food in the car, they sell already packaged food that customers just buy on the spot, without waiting or delay.
Food trucks of this nature are subjected to routine inspection and assessment by Key Government regulatory agencies. Adhering to health-department stipulations is a necessity to legally and successfully operate food businesses.
HOW TO DEVELOP A COMPREHENSIVE FOOD TRUCK BUSINESS PLAN
MARKET ANALYSIS
Market Trends
In this present era, more people working class, professionals, mothers, families- can no longer create the time to attend to pressing matters. This development also includes cooking and the preparation of meals.
The mobile food business, therefore, sets out to meet this rising demand for meals on the go. Parts of the food truck marketing and sales strategies that shall be adopted include the following;
1. Submission of proposals to the management of infrastructural facilities such as sports centers, recreational spots, beaches, hotels, and schools, to become their official mobile food provider.
2. Submit proposals to big establishments and schools to become their official mobile food provider.
3. Sponsor-related events and programs, like cooking competitions, food TV shows, and others.
Target Market
The mobile food truck business attracts a large variety of markets. It is not intended that limits are placed on the scope and reach of the mobile food business. It is the belief that the food truck business can maximize gains and sales, by attending to any number of markets that include:
- Construction sites
- Universities
- Carnivals and parade grounds
- Stadiums and sports halls
- Outdoor Events centers
- Shopping malls
- Cinemas
- Military Institutions
Competitive Advantage
The ability to determine what is to be sold in terms of food and drinks gives the leverage to make as many sales as we can make in a day.
We develop a business plan to continually improve our knowledge and operations, to maintain our projected competitive advantage in our target markets.
We currently have a brand new fully fitted meal truck, which is sizable enough to accommodate orders from any number of customers. We are in the final stages of obtaining all relevant permits and approvals from the relevant regulatory agencies.
SALES AND MARKETING PLANS
The food truck business is an easily adaptable one, to respond to prevailing market demands and situations. If a location is experiencing low sales, the truck can easily be moved to another location with a larger turn-out of customers.
Several means have been chosen to promote and advertise the business and they include the following:
1. Direct Marketing
2. Submission of proposals and contracts’ bids
3. Hiring Sales Representatives
4. Creating a pragmatic online marketing presence (we already have an official website, a Facebook page, a Twitter handle a food blog, and are on other social media platforms).
Pricing Strategy
As a result of lower startup costs, we can afford to sell our meals a little below the average price for packaged foods.
Prices obtainable in the industry will guide our pricing but will not overly influence it. From our feasibility studies, we expect to make a reasonable profit taking this route and we will still retain the flexibility to respond to either an upturn or downturn in the market. We will always strive to offer only qualitative and wholesome meals.
Payment Options
Our payment policy embraces all payment methods, as we intend to serve customers who may prefer one payment means to another. The following payment options will be available to our customers:
1. Cash.
2. Payment using Point of Sale (POS) Machines
3. Online bank transfer (for customers we consult for, or who intend to explore franchise options with us)
4. Checks.
Startup Capital and Funds Generation
THE startup capital will come from several sources which will include:
• Personal savings
• Soft loans from family and friends
• Bank facility
Sustainability and Expansion Plans
We have been able to identify and create channels that will enable us to access several streams of revenue within the mobile food industry. In pursuing expansion, we are determined to focus on our core competencies and engage in activities related to our core business service.
FOOD TRUCK BUSINESS PLAN EXAMPLE
Are you searching for a food truck sample business plan?
Here is a sample business plan for starting a food truck business.
- Executive Summary
- Management Summary
- Business Objectives
- Mission Statement
- Products and Services
- Market Analysis
- Sales and Marketing Strategy
- Pricing Strategy
- Conclusion
EXECUTIVE SUMMARY
Zillops Food Truck is a standard food truck that specializes in the sale of different foods from a truck. It is going to operate more or less as a mobile restaurant.
Food is one vital aspect of our lives and with the increase in time spent doing every other chore or duty apart from cooking, there is always the need for the services of food on the go. This is what Zillops foods would offer people.
Zillops Foods is owned by Zack Emmy who decided to leave his pizzeria practice and go into the food truck industry.
Zillops Foods will cover three major streets in New York which are; Madison Avenue, Canal Street, and Houston Street, and would serve fresh foods that will cater to the needs of customers during breakfast and lunch hours.
MANAGEMENT SUMMARY
At Zillops Foods, we are well of the importance of good and fresh food to our customers. This is why our management team will comprise great and creative cooks that are aware of the safety and health requirements associated with the food industry.
This team will be headed by Zack Emmy, a graduate of food science and technology with five years of work experience handling a pizzeria. Each member of the team who would be in charge of any of the food trucks at the different locations will work in line with achieving our goals as a food truck business.
OUR MISSION
At Zillops Foods, our mission is to provide customers on the streets of New York with food-on-the-go with customer service that is both unique and trustworthy while observing all the safety and health regulations needed for this business.
OUR VISION
Our vision is to become the leading food truck business in New York such that our food truck will be found on all the major streets and would cater to the need of each of our customers.
PRODUCTS AND SERVICES
Zillops Foods is well aware of the fact that people are now considering eating healthily and most people have different eating preferences that vary from one person to the next. This is why we have arranged our foods in such a way that we can cater to a wide reach of customers.
The following will be our products and services at Zillops Foods.
Burgers
Hot dogs
Sushi
Soft Drinks
Sandwiches
Tea and Coffee
Tacos
Burritos
Chips
Vegetables and Salads
Catering Services for birthdays, picnics, and other small occasions
Delivery services
MARKET ANALYSIS
Market Trends
Food as earlier mentioned is one important aspect of our lives and the food truck business has been one that has been in existence for a long time. This is because instead of going into a restaurant to eat in, most people tend to patronize food trucks where they get their foods to go with fast customer service.
Target Market
Everyone, at some point, has to eat. This is why our menu w=is designed in such a way that almost everyone, no matter their age can get something from our food truck at affordable prices.
With this in mind in combination with the streets on which our food trucks will cover, our target market cuts across the following groups of people.
Corporate Organizations
School Children
College students
Homes
Offices
Campuses
Passersby
Residents
SALES AND MARKETING STRATEGY
The food industry is one in which there exists very high competition. This is a result of so many sectors involved ranging from fast foods, cafes, big restaurants, sidewalk restaurants, food trucks, and so many others.
Since we are aware of this, we got professional advice for our sales and marketing plan and they include the following;
Getting involved in direct marketing
Giving out free foods to loyal customers at intervals
Using a healthy as well as a food truck that has open space to display some of our food items to attract customers.
Using social media to create an online presence for more people to be aware of our food truck business
Make use of online advertising as well as in magazines, newspapers, journals, tv stations, radio stations, and others alike.
Hand out flyers in public places and corporate organizations
Encourage word-of-mouth marketing and advertising from both our team and customers.
PRICING STRATEGY
One advantage of using a food truck is the fact that you do not get to pay for rent or the cost of building a restaurant.
This makes food cheaper.
Foods sold from our food truck would have prices that are lower than our competitors and would vary depending on the order of each customer.
CONCLUSION
In conclusion, the above business plan for Zillops Foods would guide the management in achieving her goals and objectives.
The above food truck business plan template is subject to change especially as more meals could be added to the menu depending on the needs of our customers
