No matter what type of business you are trying to start, there is one thing all aspiring business owners need to do … and that is make a business plan.
A business plan can’t be avoided, especially if you plan on acquiring funding of any kind (you have to show your investors you have a concrete plan, a plan that is going to lead to them making their money back, and then some), or want any form of direction when you are first trying to start up your business.
A business plan is essential. Without it, you are going to be directionless, your goals won’t be defined, more likely than not, and the list could go on and on.
You need a business plan. Your food truck needs a business plan.
Luckily, we have you covered as we will be unleashing three articles that will help you along the path that is creating your business plan for your food truck.
Check them out below (preview and link included for each article).
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Maybe you decided to open a food truck after enjoying the most delicious tacos of your life at a place like Mariscos Jalisco or Calbi BBQ. Or perhaps you realized that you couldn’t spend another day working from 9-5 in a gray cubicle full of paperwork, fluorescent lighting, and the sound of your coworker droning on during a sales call.
However you got here, you’re about to embark on one of the craziest journeys of your life—and if you take careful action along the way, the path you’re on could lead to a successful, sustainable business that allows you to spend your days doing what you love and being your own boss.
Wondering where to get started? Well, before you quit that day job and invest in a $50,000 truck, you need to figure out if your dream is even viable. So grab some takeout from your favorite truck for inspiration and sit down with your note-taking device of choice. You’re going to write a food truck business plan—and it will take some time. It’s essentially the recipe that will determine your future success.
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1. Executive Summary
As we explained in “How to Write a Food Truck Business Plan,” the Executive Summary will appear first in the final version of your document—but you should write it last. The Executive Summary is an overview of your entire truck. It gives readers a brief introduction into what they can find in your business plan and it helps you succinctly explain what your truck is all about in no more than one to two pages. After you’ve completed Sections 2-9, return to the Executive Summary section and write a brief explanation of the following topics:
- Your experience and background
- Your food truck’s mission statement
- How your food truck fills a gap in the local market
- Your target customers
- Your products and the benefits you offer customers
- Your financial information and funding needs
- Your future goals and plans
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Just imagine that you can earn money by going where the people go and making them happy. By what? By food, of course! Fairs, outdoor parties and celebrations, and just busy spots in general tend to be accompanied by mobile food carts. As opposed to buying a restaurant, it is cheaper and more convenient.
The idea of starting a mobile food business attained its popularity among entrepreneurs, as it is cheaper than opening a restaurant. Why do people love food trucks? They create a special atmosphere and sell delicious food/drinks at affordable prices. Swarms of people who want to try something delicious on the go are your potential customers, as well as lovers of taking photos of unusual things.
While the last article is more about a plan for starting a food truck as opposed to actually creating a business plan, we still think it is valuable for aspiring mobile kitchen owners.
Nonetheless, start with that business plan, and then make your dream of becoming a food truck owner come true after that!
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This post was last modified on September 5, 2018
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