Food Truck Business Plan Writers
Starting a food truck has become a popular trend for a multitude of cities such as Durham, North Carolina, Orlando, Florida and Los Angeles, California. When taking on this venture, food truck operators often attempt to run this type of business as a restaurant as compared to a food truck. Because of this common misconception mistakes are often made when writing business plans. To avoid these issues, Quality Business Plan has business plan writers who specialize in working with entrepreneurs seeking to start a food truck.
Discussed below are some market statistics and popular challenges our business plan writers have come across when helping small business owners start their food truck operations.
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Our business plan writers are located in Orlando, Fl. We have researched and written business plans for numerous businesses in the US.
Our Business Plan Writers Have Found Market Statistics for Food Trucks.
One of the most difficult aspect of writing a business plan is the market analysis. Here are some common statistics that business plan writers for food trucks may need when completing this section.
Most Competitive Market for Food Trucks is Orlando, FL.
Most people believe that Los Angeles, California or Washington, DC are the best and most competitive areas for food truck operators. However, based on research found from Business Insider, the best and most competitive market for food trucks is Orlando, Florida. This is based on number of food trucks as compared to the total population.
|San Fransisco, CA.||127||837,442|
|New York, NY.||110||8,336,697|
Food Truck Industry is Growing Faster Than Restaurants
One of the largest industries in the US is the restaurant industry. Just drive down any city block and a multitude of restaurants may be found. However, the restaurant industry is considered to be a mature industry. From this, revenue growth is expected to be modest over the next several years. For example, just last year, revenues for the industry only group 2%.
The food truck industry is in sharp contrast to the restaurant industry. Our business plan writers have noted that over the last five years, this industry has grown approximately 7.9% annually. This is resulted in well over 4000 food trucks being in operation and employing well over 14,000 people in the US alone.
General Food Truck Statistics Found by our Business Plan Consultants
- Total revenues in 2017 were 960 million (IBIS World).
- Common success factors in the industry include proximity to target markets, ability to obtain various licenses and finding quality commissaries for food preparation.
- Popular food items for food trucks include hamburgers, pizza, Chinese food, dessert items and Mexican food (IBIS World).
- Costs for starting a food truck operation may include: food truck exterior design, product inventory, permits and licenses, website, uniforms, cooking utensils, and point-of-sale system. Approximate startup cost is about $90,000.
Business Plan Writing Challenges for Food Trucks
Each industry has specific challenges related to business plan writing. For the food truck industry, our business plan writers have identified some common challenges and discuss them below.
Business Plan Consultants Claimed Differentiation Issues in New Orleans, LA.
In talking with a food truck operator out of New Orleans, Louisiana, our business plan consultant noted that differentiation in the marketplace was challenging. As we all know, New Orleans is known for their Louisiana cooking. Because of this, tourists and locals expect food trucks to conform to this perception. As a result, some operators found it difficult to adequately differentiate their products and services.
A Business Plan Writer Found Customer Taste Change in the Detroit, MI.
Customers tastes change as often as the wind changes direction. This is especially true for the Detroit, Michigan area as related to food trucks. In recent years, popular food trucks in the area were American themed such as hamburgers and hotdogs. However, a new trend in the area is focused on pizza in other ethnic food truck options. Because of this, our business plan writers recommend careful research before choosing a theme food truck.
Seattle, WA. Business Plan Writer Found Weather a Problem.
Food truck operations success are often predicated on weather. Our business plan writers have researched the food truck industry as compared to weather in various regions. We found that in Seattle, Washington, the weather is unfortunately not very cooperative with this industry. For example, the average high in the city is 58°, yearly rainfall is 34 inches and days with rain or snow are approximately 152 days. This shows that operating a food truck in this climate may be challenging due to the direct impact weather has on success.
Ready for a professionally prepared food truck business plan?
Contact Quality Business Plan today for help with a food truck business plan.