Submitted by Qaisar Shahzad Submitted To Khurram Amin Roll No MCOF19M008 Program Session 2019-2021

Submitted By
Qaisar Shahzad
Submitted To
Khurram Amin
Roll No
MCOF19M008
Program
M.COM (3rd)
Session
2019-2021
Feasibility Plan of a
Food Truck
Food Truck Business Plan Template
With so much information to keep track of, it can be easy to get overwhelmed, which
is why having a business plan is so important. We have outlined how to write a
business plan for a food truck, how to format and organize your business plan, what
key things you need to add to it, and how to cover the financial aspect of your
business. A food truck business plan should include the following:
1. Executive Summary
2. Company Description
3. Market Analysis
4. Organization and Management
5. Service or Product Line
6. Marketing and Sales
7. Funding Request
8. Financial Projections
9. Appendix
You can navigate through the steps by using the above links.
1. Executive Summary
The first part of your food truck business plan is the executive summary. Think of this
as your introduction to whoever will be reading your final product. To make a good
first impression, it's important to be concise and interesting, without delving too
deep into the details. This is your chance to highlight who your company is, how you
expect it to grow, and why your food truck will ultimately be successful.
You will want to identify a key gap in your target market that your company is able to
fill. It's also a good idea to cover how your knowledge and background will benefit
you as you pursue your company goals of opening a food truck business. Although
this will be the first thing your potential investor will read, this section should be the
last thing you write.
Key things to include in a food truck executive summary:
 What type of food do you plan to offer?

 Where do you plan to sell your food?
 Why will this type of food be successful in the area where you plan to sell it?
 What is the projected cost and profit of your food truck business?
 What are your future goals for your food truck business?
2. Company Description
The company description portion of your food truck business plan is where you
explain the details of your company. This section should describe your food truck
business and show your reader that it will be a valuable addition to the existing
market. Essentially, this is where you want to expand upon everything you briefly
touched on in your executive summary.
Key things to include in a food truck company description:
 What kind of food truck will it be?

 Why a food truck as opposed to a brick-and-mortar location?
 Will you prepare your food in the truck or at a commissary kitchen?
 How will the food items you provide compete with the menu items of existing food
trucks or restaurants in your target area?
 What specific consumer niche will you serve?
 What is your overall competitive advantage (your unique cuisine, your outstanding
customer service, your creative marketing, etc.)?
3. Market Analysis
The market analysis section of your food truck business plan is where you will explain
and detail how you'll fit into the existing market. It's important to do extensive
research on starting a food truck business before writing this section so you can
demonstrate your industry and market knowledge by having solid research findings
to back up your conclusions.
Key things to include in a food truck market analysis:
 Describe the food industry, including current trends, growth rate, major consumer
groups, etc.
 Pinpoint the age group, geographic area, socioeconomic status, and other key
demographic information of the target market your food truck will appeal to
 Identify the needs of your target market as well as any seasonal trends that could
impact your business (walking to the food truck in the snow? How about delivery
instead.)
 Define the size and growth potential of your target market
 State how you will gain a large percentage of the market share in the geographic
area your food truck will serve
 Explain your pricing structure, gross margin levels, and any other financially relevant
information
 Identify your competitors and show how you will make your food truck a viable
contender in current and future markets
 Address any obstacles you may encounter as you start your food truck business
 Cite food codes and other governmental regulations with which you will have to
comply and show how you will do so
4. Organization and Management

The next step of your food truck business plan will be to outline your organization
and management plan. Explaining your organization and management structure may
not seem that important if you're hoping to open up a food truck manned by two
people.
However, outlining responsibilities from the get-go can help you avoid confusion, or
even confrontation, as your business grows and develops. This section should include
a detailed profile of your management team (similar to a resume), information
about the ownership of your company, the salary and benefits you'll offer your
workers, and growth opportunities for people within your organization.
Creating a chart that shows the organizational structure of your business is a great
way to illustrate that you have all of your bases covered from the cooks in your food
truck kitchen to the person who balances your checkbook. This is where you want to
let your passion for your business shine through, leaving a lasting impression on your
investor as a way to encourage them to support your idea.
Key things to include in a food truck organization and management section:
Ownership information:
 Legal structure (Are you forming a partnership? Are you a sole proprietor?)
 Full names of the owners
 Percentage of the company each owner holds
 Type of ownership (common stock, general partner, etc.)
 Stock information
Profiles of your management team:
 Full name
 Position / primary responsibilities
 Educational background
 Prior employment and how it relates to his/her position within your company
 Important experience and skills that will help your business be successful
 Past track record with hard numbers to back it up
 Food industry recognition
 Community involvement
 Salary
5. Service or Product Line

You will then want to detail your service and product line in the following section of
your food truck business plan. What unique flavors do you have to offer your
customers? How will the products from your food truck entice passersby and convert
them into die-hard fans? What impact do you hope to have on your target customers?
This is the section where you can display your innovative ideas by describing your
products and showing how you plan to keep customers coming back for more.
Key things to include in a food truck service or product line section:

Describe your menu:
 What type of cuisine will you offer?

 Why are you passionate about this type of food?
 Why will customers eat your food?
 What is your competitive advantage?
 Are your recipes well established or still being developed?
Explain where your products are in terms of life cycle:
 Are you launching a totally new product?

 Are you already gaining popularity with your target market?
 What might cause a decline in demand for your product?
Discuss any intellectual property:
 Do you have any trade secrets or patents in the works?

 Will you require your staff to sign any non-disclosure or non-compete agreements?
Consider the future:
 How do you see your menu changing over time?

 Are you developing any new products?
 Do you plan to own a fleet of food trucks someday?
 Will you expand your reach by attending food truck fairs or booking catered events?
6. Marketing and Sales

The marketing and sales portion of your food truck business plan is focused on
building customer loyalty. You will need to define your overall marketing and sales
strategies, but how you do so is completely up to you. One important thing to
remember is that people value originality, whether that means adopting a
recognizable truck design or creating a unique selling point for your food truck.
Key things to include in a food truck marketing and sales section:
How do you plan to initially get into the food truck market?
 Will you set your prices lower than your competitors'?

 Will you offer a product that has never been seen before?
How will you grow your business?
 Will you hire more employees?

 Will you acquire more food trucks?
 Will you extend the geographic area your truck serves?
How will you distribute your products?
 Will you sell only from your truck?

 Will you attend food truck fairs or rallies?
How will you reach your customers?
 Will you advertise in traditional media(on the radio, in the newspaper, etc.)?
 Will you develop a large social media presence by utilizing Facebook, Twitter,
Instagram, etc.?
 Will you offer special rewards or discounts for returning customers?
 Will you give away free samples to entice possible customers?
 Will you have an interactive map that allows people to easily locate your truck?
How many sales are necessary for your food truck to be profitable?
 What is a fair menu price for the products you'll be selling?

 How many days will you take off in a year?
 Will you sell all through the winter or just during the warmer months?
7. Funding Request
Not every food truck business plan has a funding request section, but it's definitely
something to consider including. It can be tricky to map out how much a food truck
costs, but you will need to do so in order to determine where your funds will be
coming from.
If you do plan to request funding, you should clearly explain how much funding you
need, what you need it for, and how you'll repay anything you owe. If you'd like to
explore alternative options for funding your business, check out sites like Kick starter
or Gofundme, which allow you to crowd fund your business by raising money from
investors, customers, and friends. One thing to keep in mind is that some sites like
this will take a cut of what you raise, so be sure to do your research before jumping in
with two feet.
Key things to include in a food truck funding request:
 How much capital do you really need?

 Do you foresee needing more funding in the future?
 How will you use the funds you are awarded?
 How will you repay your loans?
 What are the potential benefits to an investor if your food truck does well?
 How would these funds create new opportunities for your food truck?
8. Financial Projections
It's difficult to know what realistic financial projections are when you're starting your
food truck business from scratch, but in order to allocate funds efficiently, it's
important to analyze your target market and set clear financial goals.
If your business has already been in operation for a few years, this is the section of
the food truck business plan where you'd include historical financial data. However, if
you're just starting out, you will need to calculate how much your business will
potentially make over the next five years using realistic assumptions. Make sure that
these projections align with the funds you asked for in your funding request.

Submitted by Qaisar Shahzad Submitted To Khurram Amin Roll No MCOF19M008 Program Session 2019-2021

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Key things to include in a food truck executive summary:

 What type of food do you plan to offer?

 What kind of food truck will it be?

Key things to include in a food truck market analysis:

4. Organization and Management

Profiles of your management team:

5. Service or Product Line

Key things to include in a food truck service or product line section:

 What type of cuisine will you offer?

Explain where your products are in terms of life cycle:

 Are you launching a totally new product?

Discuss any intellectual property:

 Do you have any trade secrets or patents in the works?

Consider the future:

 How do you see your menu changing over time?

6. Marketing and Sales

 Will you set your prices lower than your competitors'?

How will you grow your business?

 Will you hire more employees?

How will you distribute your products?

 Will you sell only from your truck?

How will you reach your customers?

 What is a fair menu price for the products you'll be selling?

Key things to include in a food truck funding request:

 How much capital do you really need?

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