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However, your business plan can do a lot more than secure funding—it also serves as a guide to take you through each step of building your business.
Whether you’re focusing on quality, value, nutrition, or location, use the Company Description to depict why your food truck will be a success.
This is your chance to sell potential investors on your truck—and to remind yourself why you’ve taken on this challenging but very important mission.
As you write down your goals and work through the numbers, you’ll also gain a deeper understanding of what it will really take to turn a profit.
Keep in mind that your business plan should also include growth projections and ideas for expansion.
Go ahead and jot those dreams down to give yourself something to work toward and to show others how serious you are about this truck.
Like your to-die-for buffalo chicken wrap or heavenly pulled pork sandwich, an awesome business plan contains several vital ingredients.What does your truck do that no other truck can do?If there aren’t any other trucks in your area serving your signature item, make this clear.Describe what your truck will offer and where you plan to sell food.If you’re trying to find funding for your truck, be sure to include financial information about the costs and profit expectations for your business.According to a report by the National League of Cities, the food truck industry earns about 0 million each year. You’ll also need to factor in your pricing plans and any licenses or local restrictions that could impact your ability to attract more customers.That’s a lot of cheddar—and trends suggest that profits will quadruple over the next five years to .7 billion. Your Market Analysis should display your knowledge of the food truck industry and show readers that you’ve done your homework.Maybe you decided to open a food truck after enjoying the most delicious tacos of your life at a place like Mariscos Jalisco or Calbi BBQ.Or perhaps you realized that you couldn’t spend another day working from 9-5 in a gray cubicle full of paperwork, fluorescent lighting, and the sound of your coworker droning on during a sales call.Next up is your Company Description—the section that really gets to the heart of your purpose, plans, and goals.Effectively serving as a mission statement, the Company Description should clearly describe what your food truck is all about (a focus on organic ingredients, fusion cuisine, etc.) and how it fulfills a need in your community.