What’s Next? The Future Of Your Food Truck Business
Planning ahead and mapping out the future of your food truck business can be overlooked while you are busy focusing on your first food truck. It can, however, have a huge impact on where your business will head. Once you have your first truck up and running successfully, you may want to think about expanding your business. Adding another truck, catering or franchising are three potential options to consider when planning your businesses future.
Adding another truck
Once your first food truck is successfully up and running, you may start thinking about potentially adding another truck and expanding your business. If you are finding yourself needing to be in more than one place at a time, expanding your fleet may be your best option!
It is important to carefully weigh up the pros and cons; while there will be more sales, you will need to invest in another truck and staff to run your second truck. Key factors to think about include your financial status, the logistics involved in making this change, and the state of your emotional readiness to take it on.
Catering is great option to consider if you are wanting to grow your food truck business without physically expanding. With food trucks becoming more and more popular at events such as weddings and functions, catering could be the best option for you to grow your business without the financial outlay.
Make sure customers know you offer catering services. Creating a special catering menu, and promoting this service (i.e. on social media, online, word of mouth, signage on your truck). Keeping your menu simple, putting your services in writing and making sure you never run out of food are key to ensuring you ease your way into the catering industry.
Is your food truck business unique? Are customers telling you that you should franchise your truck? If you answered yes to both, considering franchising to see if its right for you could be your best option to expanding your food truck business. Culinary entrepreneurs are finding franchising is a way to quickly expand their business with minimal capital and risk.
Advantages of franchising include expansion without financial outlay (franchisee pays fee) and the opportunity to expand without risk as franchisees are assuming the risk of succeeding or failing. Keep in mind that franchising is a regulated industry, and setting up your business as a franchise takes time!
Are you looking to expand your food truck business? Send us an enquiry today.