Your business description is an explanation of what your company does, the industry your business is operating in, and what differentiates your business from others.
Each interview will highlight a different step in the business building process. The hope is that as we follow Salvagno over the course of the next 6 — 12 months so that you can follow along as he launches his own truck. I sincerely hope you enjoy this series of posts.
I also want to point out to the listeners that this case study is going to be a little bit different than my traditional shows. In the future I will create a table of contents page that allows you to jump the different topics of content, but for right now this is it.
What began as a simple contest and idea would eventually lead him down a path to business ownership. Serious about Starting a Food Truck? How to Use This Training In my opinion, this case study is most effective when listening to the audio and downloading the example that Salvagno was kind enough to provide for this post.
This document is referenced in the podcast. Example 1 and Example 2. What began as a fun contest would eventually lead him down a path to business ownership.
The important thing is to have a plan for the business. Think of this as the first page of a book report. Do you best to make it look pretty. Include your business name and applicable contact information in this section.
This is an overview of the information that is contained in the business plan and should introduce the name of your food truck and what it is you plan to serve at a high level. Typically, this section is one page in length. Food Truck Concept and Description: This is the fun part.
Here you will describe what you hope the food truck will become, the food you plan to serve, and why you believe it will be a successful business. Make sure to include information on why your food is both desirable and unique to customers in the area. Also, if you have some type of theme, like an islander theme for example, be sure include that into the description.
For smaller markets with a couple hundred thousand people living nearby this section might be short and include just 4 — 5 other trucks. Consider adding a spin to your own food concept like serving Asian tacos instead to provide local consumers will more variety and fill a potential need.
Any data about local trends that you can find will be useful to include as well like this report from IBIS World that forecasts growth in the United States food truck industry for the next 5 years. Google can be a good friend in locating the data to include in the document. This section is simple for solo food vendors.
List yourself as the owner and operator if that applies. Many food trucks need a team of 3 — 5 employees to operate successfully during a lunch rush. Product Line and Services: Finally… This is the section you finally get to describe your food.
I recommend outlining the main menu items and any signature dishes that you have in this section. Other products and services that you plan to offer could include corporate catering gigs or weddings. These can be big money makers for a mobile food vendor. It pays to think outside the box too.
Some vendors that started out by serving food out the window of a truck exclusively have now begun to sell their trademark dishes in stores and online. Previous guest of the show Martie Richie of Motley Crews is an excellent example of someone that is doing just that.
How do you plan to market your business and get sales? Are you planning to setup shop near a lot of potential customers or not so much?
Make sure to have a few different parking location options before getting started. Additionally, many new food trucks have a social media marketing plan as well to help attract local customers.The business plan is the key ingredient for a successful business and is often ignored.
This session shows you how to create an individualized business plan, and provides the tools to make it easy. The primary value of your business plan will be to create a written outline that evaluates all aspects. Lastly, make mention of the purpose of this business plan: to get financing, provide a detailed roadmap or serve as a general framework to start your business (redefining the plan as the business .
The business plan is the key ingredient for a successful business and is often ignored. This session shows you how to create an individualized business plan, and provides the tools to make it easy.
The primary value of your business plan will be to create a written outline that evaluates all aspects.
Now that you understand why you need a business plan and you've spent some time doing your homework gathering the information you need to create one, it's time to roll up your sleeves and get. See this Guide to Writing a Business Plan Step By Step for a detailed description of how to write each section of a full-sized plan.
Keep in mind that a business plan is a living document and you can always start with a one-page plan and enlarge it with additional detail as required. Oct 03, · A Standard Business Plan Outline [Updated for ] by: Sample business plans: Over free sample business plans from various industries.
Business plan template: This fill-in-the-blank business plan template is in the format preferred by banks and the U.S. Small Business Administration (SBA)/5().