Like any business, a food truck business has its own fair share of benefits and drawbacks. Unlike traditional restaurants, food trucks allow owners to be creative with their menu and location and have lower overhead costs than traditional restaurant kitchens. These are just a few of the many reasons why food trucks in the Philippines are becoming increasingly popular.
If you’re interested in starting a food truck business, we have a few tips to get you started.
1. Create a business plan
Creating a business plan is a critical but often overlooked part of starting a business. If you’re a new entrepreneur, this will help you put all your ideas into writing and will be your guide as you start your business. To create a strong business plan, it should include your vision, business goals, strength and weakness against competitors, financial statement, projected sales, and everything else.
2. Find a food truck
You need to find a food truck that suits your business vision, budget, and branding. Look for a trustworthy truck body fabrication company with experience with food trucks and other mobile businesses. While you should be working on a budget, you should also look into the quality of the food truck. There are other creative ways you can also own a food truck without spending much. For example, a 22-year-old entrepreneur saved money by converting their old multicab into a food truck.
3. Build your menu by researching your local market
It is critical to conduct market research in your area before creating a menu. Understand the types of food that are popular in your area and what kind of competition you will face. Then, research and brainstorm dishes that will stand out from the competition. For instance, the owner of a food truck named Eggluck realized that Korean sandwiches were not yet popular in their location in Ilocos Norte. She took the opportunity to build and market her brand and is now earning P100,000 a month.
Another important thing to consider is that the dishes should be easy to prepare in a small mobile kitchen. You should also have consistent and credible suppliers for your company.
4. Market and make noise
Marketing is very important in running any type of business. Because your food truck is mobile, you have more options for advertising your business. You should hang out where the people are, so try to find food fairs, festivals, concerts, and other locations. Increase your social media presence and create noise.
Once you’ve secured the permits, you’re good to go! Enjoy learning and earning in your food truck business. Good luck!
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