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How to Start a Food Truck Business | Free Book PDF Download

How to Start a Food Truck Business, Free Food Truck Business Plan Pdf

 

How to Start a Food Truck Business - Free Food Truck Business Plan PDF


Are you considering starting a Food Truck Business? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a Food firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of.
You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Food Truck Business' book:

How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.

A detailed manual that will walk you step by step through all the essential phases of starting your business

A complete business plan template. This fill-in-the-blanks template includes every section of your business plan, including Executive Summary, Objectives, SWOT Analysis, Marketing Analysis and Strategy, Operations Plan, Financial Projections and more (a similar template is sold elsewhere for $69.95).

All this and much much more.

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your book for free (PDF version)

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Here's a Sample 'Executive Summary' for a Food Truck Business plan:

This high-end specialty sausage restaurant will be the premier, high-energy, modern upscale specialty sausage restaurant in Southern California. COMPANY NAME’S goal is to remain a step ahead of the competition through an exemplary service provision. COMPANY NAME  expects guests to have more high quality food and beverage during their leisure time.
The main objectives of the development of this new venue are:

  • Capitalize on excellent location opportunity with swift commitment to the [INSERT TOWN] Metro area, focusing on [INSERT TOWN] Metro.
  • To maintain tight control of costs, operations, and cash flow through diligent management and automated computer control.
  • To maintain a food cost below 33% of food revenue.
  • To maintain a total beverage cost below 25% of beverage revenue.

The keys to success in achieving COMPANY NAME’S goals are:

  • Provide exceptional service that leaves an impression.
  • Consistent entertainment atmosphere and product quality.
  • Managing the company's internal finances and cash flow to enable upward capital growth.
  • Strict control of all costs, at all times, without exception.

Consumers who are able to treat themselves again in 2011 will do so — meaning that restaurants with a few indulgent menu items or experiences could see an uptick in orders of high-margin and high-price-point dishes. This could spell opportunity not only for casual-dining chains to entice diners with more premium dishes like the Flavor-Loaded Steaks at Applebee’s, but also for higher-end chains like Fleming’s Prime and Morton’s to attract new customers with their bar menus, as they’ve done throughout the downturn.  COMPANY NAME seeks to establish a higher-end chain throughout California starting its first eatery in [INSERT TOWN].
COMPANY NAME is seeking funding for start-up expenses detailed later on in this plan.  The Company is open to discussing all possible funding venues from loans to possible investment.

1.1 Objectives

COMPANY NAME’S objectives for the first three years of operation include:

  • The creation of a unique, chic, modern and upscale environment that will differentiate COMPANY NAME from other specialty sausage restaurants in the [INSERT TOWN] area.
  • Educating the community on what the COMPANY NAME has to offer.
  • The formation of an environment that will bring people with diverse interests and backgrounds together in an atmosphere that would enhance enjoyment of a fine meal.

1.2 Mission

COMPANY NAME is a commercial enterprise, and as such, exists for the purpose of generating sales & profits for its investors, owners, managers and staff.  Because COMPANY NAME is a service business, it also exists to serve its customers. These two reasons for its existence are inextricable.  If one aspect does not exist, the other will cease to exist.
COMPANY NAME will offer mouth-watering foods & beverages in a casual yet a sleek, modern and upscale environment.
COMPANY NAME’S staff will be cheerful, courteous, and focused on pleasing all customers.
COMPANY NAME’S customers will always be treated with importance and warmth. When it comes time for customers to decide where to spend their entertainment dollars, the company will strive to become their first eating destination of choice.
COMPANY NAME’S staff will be offered a workplace where they can prosper & grow in a dignified, fun and rewarding manner.
Investors will see a lucrative return on their dollars, and will have opportunity for future growth & prosperity with the company.
COMPANY NAME’S vendors will be treated with loyalty, and they will find their future with the company to be fruitful.
COMPANY NAME will be a good neighbor to the businesses in the [INSERT TOWN] Metro area, and the company will be a contributing & supportive member of the growth and expansion, helping it to thrive.
At COMPANY NAME, commitment is in line with the Company's core values of caring for guests by delivering the highest quality food, beverages and genuine hospitality in a warm and inviting atmosphere along with a cozy and elegant feel. COMPANY NAME feel passionately about guests leaving the establishment with the memory of a great experience and having them look forward to come back again.  It is the owner's belief that in today's economic environment it's easier for consumers to lose their sense of direction. More and more people are looking for solutions. The answer still remains that all of life's successes are about people and how they are treated. These relationships are driven by transparency and accountability.
The Company’s team-base approached to quality food and table service is designed to enhance the guest contact and speed of service without intruding on their experience.  COMPANY NAME’S entire restaurant staff will be dedicated to ensuring that guests enjoy a superior dining experience.

1.3 Keys to Success

Keys to success for COMPANY NAME will include:

  • Maintaining a reputable and untarnished reputation in the community. 
  • High quality food, spirits and service. 
  • Competitive pricing. 
  • Excellent central location in the [INSERT TOWN] Metro area.

The key elements of COMPANY NAME’S concept are as follows:

  • The company will focus on themes that have mass appeal.
  • Distinctive design features -- COMPANY NAME will be characterized by the elaborate sleek and modern high-end specialty sausage restaurant which will attract food aficionados and trendsetters alike.
  • Location, location, location -- One of the major advantages that COMPANY NAME will have over its competition will be its location in the Metro [INSERT TOWN].
  • Quality food and spirits -- All would be lost without special attention being paid to the level of food quality. A simple menu offering foods similar to those found at a premier venue. Innovative appetizers will be on hand for patrons while they drink and enjoy themselves.
  • Exceptional service -- In order to reach and maintain a unique image of quality, COMPANY NAME will provide attentive and friendly service through a high ratio of service personnel to customers, and will also invest in the training and supervision of its employees. 

2.1 Company Ownership

COMPANY NAME will be created as a California Corporation based in [INSERT COUNTY], privately owned by its principal operator, OWNER’S NAME.

2.2 Start-up Summary

The Company is seeking an investment for start-up purposes for a new entertainment venue in [INSERT TOWN] Metro, California.
Funds needed to accomplish goal referenced above will be $122,500.  COMPANY NAME will utilize the anticipated investments to build out the space and purchase equipment necessary for the start-up of a new restaurant venue. The following tables and charts illustrate the capital requirements.

Start-up

 

 

 

Requirements

 

 

 

Start-up Expenses

 

Legal

$2,000

Stationary, Menus, Brochures

$2,500

Food Inventory

$10,000

Alcohol Inventory

$10,000

Operating Supplies

$6,000

Uniforms

$1,000

Linen

$500

Exterior Improvements

$2,000

Signage

$1,000

Liquor License

$10,000

Point of Sale System

$5,500

Office Furnishings

$2,000

Pre-Opening Labor/Training

$4,000

Pre-Opening Marketing

$2,000

Permits and Fees

$9,500

Insurance

$6,500

Rent (6 months)

$36,000

Utility Deposits

$2,000

Total Start-up Expenses

$112,500

 

 

Start-up Assets

 

Cash Required

$10,000

Start-up Inventory

$0

Other Current Assets

$0

Long-term Assets

$0

Total Assets

$10,000

 

 

Total Requirements

$122,500


The COMPANY NAME’S menu will feature a broad selection of high quality gourmet and premium sausage, sides and sauces which will be complimented by other traditional menu items inspired by the owners' rich east coast heritage.
Everything on the menu is prepared in the COMPANY NAME kitchen and it is the Company's promise to guests to deliver the best quality food, beer and wine at affordable prices in a comfortable and relaxing environment.  COMPANY NAME will keep the highest quality standards.  COMPANY NAME will also offer approximately 40 to 50 wine-by-the-glasses.  The Company will possess a limited liquor license allowing for wine and beer to be served.

The concept and management of COMPANY NAME has been well received. 
A sausage is a food made from ground meat and often salt, herbs, and spices. The word sausage is derived from Old French saussiche, from the Latin word salsus, meaning salted.  Typically, the sausage is formed in a casing traditionally made from intestine, but sometimes synthetic. Some sausages are cooked during processing and the casing may be removed afterwards.  Sausage making is a traditional food preservation technique. Sausages may be preserved by curing, drying, or smoking.
In Los Angeles, according to the census, 33.5% of households had children under 18, 41.9% were married couples, 14.5% had a female householder with no husband present, and 37.4% were non-families. 28.5% of households were made up of individuals and 7.4% had someone living alone who was 65 years of age or older. The average household size was 2.83 and the average family size 3.56.
The age distribution was: 26.6% under 18, 11.1% from 18 to 24, 34.1% from 25 to 44, 18.6% from 45 to 64, and 9.7% who were 65 or older. The median age was 32. For every 100 females there were 99.4 males. For every 100 females aged 18 and over, there were 97.5 males.
The median income for a household was $36,687, and for a family was $39,942. Males had a median income of $31,880, females $30,197. The per capita income was $20,671. 22.1% of the population and 18.3% of families were below the poverty line. 30.3% of those under the age of 18 and 12.6% of those aged 65 or older were below the poverty line.  [INSERT TOWN] has had a high degree of income disparity as compared to the rest of the country. Recently, however, income disparity has declined.  The median household income of the wealthiest neighborhood was $207,938, while in the poorest it was $15,000.

3.1 Market Segmentation

The owner sees COMPANY NAME as appealing to three major market segments. Fortunately, the long, late night hours of operation help COMPANY NAME lend itself to multiple segment appeal. COMPANY NAME’S market segmentation scheme allows some room for estimates and nonspecific definitions.

  • Young Adults--Due to the restaurant's proximity to [INSERT TOWN] and all of its surrounding areas, COMPANY NAME must appeal to single adults and young couples. Whether it is a group of friends or a couple out to see a neighboring business or function, these people need a place to eat/drink either before and/or after their engagement. These customers will range in age from 25 to 45. COMPANY NAME will appeal to this category by switching the tempo and entertainment to be more appealing to adults as it gets later into the evening. COMPANY NAME also anticipates a 15% annual growth rate in tandem with the growth rate of [INSERT TOWN] Metro and through increased popularity.
  • Mature Adults--By creating an environment that is appealing to the growing population of mature however hip adult, COMPANY NAME secures a natural progression between the young adult to mature adult. Through word of mouth, COMPANY NAME expects realize an increase of five percent annually from this segment.

The following chart and table outline the target market segments for COMPANY NAME, and include annual growth projections.

Table: Market Analysis

Market Analysis

 

 

 

 

 

 

 

 

 

 Year 1

 Year 2

 Year 3

 Year 4

 Year 5

 

Potential Customers

Growth

 

 

 

 

 

CAGR

Young Adults 25-45 years old

15%

132,000

151,800

174,570

200,756

230,869

15.00%

Mature Adults

5%

100,000

105,000

110,250

115,763

121,551

5.00%

Total

11.02%

232,000

256,800

284,820

316,519

352,420

11.02%


3.2 Target Market Segment Strategy

COMPANY NAME’S strategy is based on serving the company's niche markets exceptionally well. COMPANY NAME gourmet food enthusiast, the tourist and business traveler, the local nightclub crowd, the local service industry as well as groups going out together, can all enjoy COMPANY NAME experience.
The marketing strategy is essential to the main strategy:

  • Emphasize exceptional service.
  • Create awareness of COMPANY NAME’S unique features.
  • Focus on the company's target markets.

COMPANY NAME must charge appropriately for the high-end, high-quality service and food that the company offers. COMPANY NAME’S revenue structure has to match the company's cost structure, so the wages that are paid and the training COMPANY NAME will provide to assure superior quality and service must be balanced by the fees charged. 
Part of the superior experience COMPANY NAME will offer is the simplicity of the menu items. While being unique, they are relatively inexpensive and easy to prepare. While a premium is appropriate for the experience, the pricing has to be balanced in accordance with what COMPANY NAME is serving.
All menu items will be moderately priced.  COMPANY NAME’S target customer spends more than the industry average for moderately priced establishments. This is due to COMPANY NAME creating an atmosphere that encourages longer stays and more spending, while still allowing adequate table turns due to extended hours of appeal.

3.3 Service Business Analysis

Consumers who are able to treat themselves again in 2011 will do so — meaning that restaurants with a few indulgent menu items or experiences could see an uptick in orders of high-margin and high-price-point dishes. This could spell opportunity not only for casual-dining chains to entice diners with more premium dishes like the Flavor-Loaded Steaks at Applebee’s, but also for higher-end chains like Fleming’s Prime and Morton’s to attract new customers with their bar menus, as they’ve done throughout the downturn.
As they compete to expand geographically and broaden their customer bases, many high-end specialty sausage restaurant chains are promoting new amenities especially to attract such nontraditional specialty sausage restaurant users as women, young professionals, and health-conscious diners.
Among the tactics being employed are the promotions of bars as social gathering places that offer moderately priced menus, the broadening of dining room menus beyond their core steak entrées, the pairing of appetizers with specially chosen wines by the glass and even the introduction of children’s menus.
Updating their bars and bar menus are a trend for most of those operators. Morton’s, for example, has given its bars their own identity with the name Bar 12-21. Most offer after-work specials from a “Small Bites” menu of miniature cheeseburgers, oysters and other items. So far, about 18 of Morton’s 75 restaurants have deployed the Bar 12-21 format.

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