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Food Trucks: Cooking Up A Business Plan That Will Go Places

Are you a budding restaurateur ready to appease some low-key foodies? Food trucks may be the way to go if you’re thinking about having your own start-up. Food trucks are becoming popular, trendy alternatives to fast food and even casual dining. Even something as small as a food truck is going to take some start up cash, so we’ve tailored some special business plan writing advice for you.

Why a Food Truck?

In order to explain in your business plan exactly how your specific food truck will be successful, it helps to know why food trucks in general have experienced a recent boom. Food trucks provide quick, inexpensive breakfasts and lunches. In the current economy, this is key. Professionals today look to save money on their meals and time during their workday. With more employees lunching at their desks, the instant gratification of a food truck order can’t be beat.

Plan the Logistics

Business plans are all about logistics. Even though food trucks are mobile, you should still plan your ideal location. What type of neighborhood do you want to serve? Is it hip and young? Is it corporate? Is it in a retail area? This affects how much money you’ll have a chance to make as well as what type of food you’d be able to sell. Once you know your market, you can start to search for gaps that need to be filled. Without this information, you can’t begin to crunch the numbers you’ll need to calculate your bottom line.

Play Up the Originality

One of the many charms of a food truck is the room that you have to be playful and do something a bit off-the-wall with your space. Food trucks are expected to be quirky. Don’t pull up a “food truck business plan” sample, at least not at first. Instead, by writing your own, from scratch, you have room to think about how you’ll make your business plan match your actual business. What is going to make your truck special? If you’re serving tacos, what makes your tacos any different from another taco truck?

Don’t forget to include the standard elements of a business plan as well. Now that you know what to expect, take your business plan, and some good luck for starting your food truck. An added bonus: The food truck industry is perfect for entrepreneurs. In fact, according to IBISWorld, a Los Angeles-based firm, 78% of food trucks have fewer than four employees.

Last Updated: February 17, 2017