Editor’s Note: Today we’re excited to present a post from Jeremy Adams. Jeremy is the President/CEO of Prestige Food Trucks, which is the world’s leading custom food truck manufacturer. In his current role as President/CEO, Jeremy manages dozens of employees, interacts with clients, and maintains a healthy relationship with all of his business partners. Since Prestige, Jeremy has launched many other successful companies.
Have you ever thought about expanding your food truck business?
If so, what did that expansion process entail? In other words, how did you plan on expanding your business?
Going along with that thinking, we wanted to dish out three expansion scenarios food truck owners can — and should — shoot for, and they can be found below.
3 Expansion Scenarios Food Truck Owners Can — And Should — Shoot For
- Open Up Another Food Truck
- Open Up A Brick-And-Mortar Restaurant
- Expand Within
3.) Open Up Another Food Truck
Opening up another food truck is a very real scenario for mobile kitchen owners. The best part is your brand/audience/customers should already be built in if you have already created a successful food truck business that people recognize.
Of course, you are going to need some additions, such as funds to buy a food truck and everything that goes into it, employees, a manager, etc.
However, if you have a great system put in place, if you have a great manager ready to take over your current food truck and if you have the money, then opening up another food truck is a real possibility.
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2.) Open Up A Brick-And-Mortar Restaurant
This is the dream of many food truck owners, and it’s the No. 1 reason why so many food truck owners became a food truck owner in the first place.
Many owners start up a food truck business because they want to try operating on a smaller scale and build their brand in hopes of one day expanding to a sit-down restaurant (of course, there are certainly other reasons as well).
This is a very real possibility if you are willing to put in the time and effort. You also need the capital to make this expansion dream a reality, but that should go without saying.
Nonetheless, if your food truck is popular, then that should go a long way when you do open up a brick-and-mortar restaurant since you will already have customers/a following in place.
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1.) Expand Within
Maybe you don’t want to open up another location, whether it is in the form of another food truck or a sit-down restaurant. Maybe you just want to focus on your current food truck but you still want to expand, if you will.
Well, food truck owners could always expand within, and that could mean a number of different things. For example, you could simply get better kitchen equipment over time, a new engine for your truck, hire more employees, buy a bigger truck, etc.
It’s okay to focus in on the food truck you have. Not everyone wants to open up multiple locations and/or franchise their trucks. Some owners probably love the luxury that is giving one food truck all of their time and effort, and that is perfectly fine; however, that doesn’t mean you can’t make some additions along the way to the truck you do have in hopes of making your business and product better over time.
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