Tuesday, May 30, 2017

Writing a Food Truck Business Plan

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By Jeremy Raynolds
The popularity of food truck industry is growing rapidly nowadays. If you have always dreamt of starting your own business and you love cooking – this type of business can definitely be what you are looking for. However, before launching food truck business it is advisable to do a research and read some useful articles about prosperous businesses, or an informative article on how to start a mobile food business. Below, we have prepared a detailed guide which will help you write a business plan. Follow these steps and reach your goals.

1.Executive Summary
Begin writing your plan with an overview of the business and future plans. Introduce yourself and explain what are the reasons why you want to enter this industry. Describe what products you will be offering and the locations where you want to work. Write briefly. Try to design an eye-catching summary. This section should take no more than 2 pages. If you want to raise money from investors, try to make them like what they read.

2. Company Description
If you own an existing business, write about the previous years of activities. Indicate the legal structure and location of the company. Write what kind of truck it's gonna be and how you plan your business should be working. If you don`t have the writers` talent, you can always find it with Edu Birdie help. Describe how will you compete with existing restaurants, cafes and other food trucks. Count the main goals you will be trying to achieve. Advertise yourself, name your strengths and advantages.

3. Products and Services
If you have always wanted to become the owner a food truck, you have to describe this section broadly. Here you should write about the products you want to sell and what exact food you want to offer. Write about your future prospects and what should you improve to become successful. Share you vision and ideas about how can you expand your business in future. You can offer to serve the music festivals, weddings, or working as catering for companies.

4. Target Market
People like originality. Write who will be your target audience. Define how you will increase the target audience and what stratum of society you will appeal to. What can you offer which differs from others? What’s your distinctive feature? Describe what obstacles you may face and how to overcome them. Try to write this section in details. Check an interesting article about the legal ins and outs of starting a food truck.

5. Organization of Work
Write the ownership information. Provide information about how you organize the working process, how many people you want to employ and what schedule you will have. Write who will be the owner of the company and share responsibilities. If you already have a team, write a bit about everyone. Point out the role of each team member. And also list the work experience, qualifications, skills of each member.

6. Sales & Marketing
Create a sale forecast. Set the prices which will cover your expenses. The quality of product should remain the highest. Think and write about what payment options will be available for your clients and how to become profitable. Food truck business has a good benefit. If your sales is not as high as you want, you can always move to another location, where you think you can make more profit. How will you advertise? Will you choose traditional medium, such as radio and newspapers? Will you have any special offers or discounts? Think about advertising online, create a Facebook page, share photos on Instagram. Being present in social media is an efficient marketing hook of the majority of businesses. As more people will hear about your food truck, the more profit you will get.

7. Financial Projections
In this section, you have to write about future. Try to make monthly and quarterly projections for the income and expenses over the first year. In addition, make an assumption about the miscellaneous losses. Analyze your target market, set clear goals. Try to potentially calculate how much money will you gain. Write about the plans of expansion. Try to back your projections with supporting data.

We have collected this step-by-step guideline to assist you in writing an outstanding business plan. Now you are ready to start writing you own business plan and build a profitable business.

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