5 Tips for Starting a Food Truck Business in 2016

The key to starting a food truck is starting off with keeping things simple.

1. Know your customers and build a following
2. What’s your unfair advantage?
3. Network
4. Manage your financed
5. Never give up

Photo Source: Food Truck News

1. Know your customer and build your tribe

Think about who your customers will be, what makes them tick and how big the market opportunity is. There is plenty of research already available online to get you started. Once you’ve identified the customer, think about the best way to reach them and seek feedback on your product and/or service.  Starting a food truck business takes planning.

Once you’ve nailed down your food truck concept or food type, get started by creating your food truck Instagram.  We know it sounds questionable but grass roots marketing is about creating excitement around an idea.  Your street food idea is your concept.  Instagram is one of the best ways to attract attention for free.  It’s also one of the best ways to build out your brand and experiment with customer reactions.

Take some pictures of your best culinary creations and ask the Instagram masses what they think?  Show off your logo.  Post some recipes.  Tease them with what is coming.

2. What’s your unfair advantage?

If you’re going to sell tacos then why are your tacos better than the next guy? Do you have a fusion concept that no one is currently offering?  Is your plan just a pure marketing play?

These are all important things to consider as you create your business plan.  You have to be different some how.  You must offer something or some unique experience that the customer can’t get at the other truck.

Take for example our friend Paul over at the Sweet Suite Truck.  He did his market research and discovered that although there was no shortage of dessert trucks roaming around Los Angeles, none of them really offered a complete “suite” of dessert options. They were all specialized.

It was either ice cream or bust for the other guys.  Or gelatos or bust, etc.  He had his “unfair advantage” figured out before he started his mobile food business.

strive for progress, not perfection

3. Build a network of mentors and people in business

Never be afraid to ask for help, your networks, business contacts, friends and family can be your best resource. Seek a range of professional and general advice, for example, find a good accountant and consider approaching established food trucks for their advice – learning from the experience of others can be invaluable.  Learn as much about the food industry as possible before you start a food truck because starting a food truck business and managing food safety and customer expectation is a big job.

Another great way to build that network is to ensure you’re on LinkedIn.  Start beefing up your profile with your culinary experience and make a list of people you can introduce yourself and your new mobile food business to.

4. Manage your finances

One of the key challenges for businesses starting out is money or start-up capital. Growth can take time, so always plan for how you will fund your business while you’re getting established. Draw up a budget and know what you have to spend. Understanding cash flow and forecasting for both slow and busy times is vital.

Your business plan should include how you’re going to fund your business.  And there is a ton of options out there for you now.  More so than ever.  Don’t get discouraged.

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