Subjects: PDT, SBS
How to Open Your Own Food Truck Business
WASHINGTON, Sept. 20, 2023 /PRNewswire/ -- With over 35,000 food trucks generating $1.5 billion in revenue in the U.S., it's no surprise when entrepreneurs want to join the industry with a food truck business of their own. But to succeed in a competitive market, entrepreneurs need the right guidance, resources and support. As mentors to America's small businesses, SCORE is here to help, offering a wide range of services and expertise to aspiring food truck owners.
"No matter how great of a cook you are or how nice of a truck you have, it takes some time to grow your business," said SCORE client Roger LeJeune, CEO of The Good Stuffed Food Truck in Mandeville, La. "Know that the first few months or so will be a struggle, don't get discouraged, just keep moving forward."
First things first
Like any small business owner, food truck entrepreneurs should begin by developing a business plan ? a critical step to obtain funding. A SCORE mentor can guide you through this process and provide feedback on your plan. Entrepreneurs can also access free online workshops and webinars hosted by industry experts, providing you with the knowledge and skills necessary to operate a successful food truck business.
"I start my clients with a detailed look at the recipes on their menu. We look at the cost of each ingredient, what they will charge and how much preparation is involved," said SCORE mentor Lori Karbel. "This feeds into the full financial view. I encourage them not to spend any money until they look at the full financials and agree that what they put into the business (both financially and timewise) will give them what they want to get out of the business."
Conduct research
Deciding on recipes and the type of cuisine is probably top of mind for an aspiring food truck owner. For example, will you use family recipes? Is something missing from offerings in your area, and can you fill that niche? However, responsible entrepreneurs will also need to research legal restrictions and certification requirements.
"It's crucial to familiarize yourself with the health department's guidelines and standards in your state and city and understand the intricacies to ensure you meet all the requirements before you even start," said SCORE client Josh Philbrick, CEO and founder of The Smoothie Bus in Manchester, N.H.
Start networking
Once you've got a plan in place, it's time to get the word out. Make sure the local community knows about your business and what it offers.
"Don't be afraid to knock on doors and ask for business," said LeJeune. "For example, if you are set up at an office building, make sure you visit someone in each of the neighboring buildings. Get several contacts that you can text or email the menus to ? this will help with additional sales."
Utilize free, available resources
SCORE offers a variety of online resources specifically tailored for food truck entrepreneurs, such as menu planning, marketing strategies and financial management. Highlights include:
- How to Start a Food Truck Business: A Step-by-Step Guide
- 4 Licenses and Permits Food Trucks Need to Operate
- Recipe for Success in Food Truck Ownership
With extensive experience in supporting entrepreneurs, SCORE understands the unique needs and challenges of those looking to enter the food truck industry. In addition to online resources, SCORE's vast network of volunteer mentors can provide one-on-one guidance and support. These mentors are seasoned professionals with experience in various industries, including the food service industry. They can offer personalized advice, help entrepreneurs identify potential pitfalls, and provide insights into local regulations and market trends. Learn more at score.org/find-mentor.
About SCORE:
Since 1964, SCORE has helped more than 11 million entrepreneurs start, grow or successfully exit a business. SCORE's 10,000 volunteers provide free, expert mentoring, resources and education in all 50 U.S. states and territories. Visit SCORE at www.score.org.
Funded [in part] through a Cooperative Agreement with the U.S. Small Business Administration.
CONTACT:
SCORE
202-968-6428
[email protected]
Visit SCORE's media resources to be connected with expert small business interview sources and news updates.
SOURCE:
SOURCE SCORE
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