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Food Truck Business Plan

post #1 of 14
Thread Starter 

    Have any of you fine people on this site-within which I am still a newbie-had to deal with business plans?  More than once?

 

    I am currently in-between semesters in St. Philip's College's culinary program.  It is an all-around program, with basic requisites, labs, and theory.  In my Hospitality Management class, we had to conduct a Feasibility Study for a fictional business.  It was to be detailed, researched, cited, yadda-yadda.  Instead of a fictional business, I took advantage to the situation and did all of the footwork for my future food truck (it's no longer too far off. WORD!).  I got a 100% and a bonus to my semester average.

 

    Being that I must take out a loan in order to get the business up and going, I am writing a business plan using the information I gathered and researched for the study.  I am almost done with the first raw draft.

 

    If any of you would be kind enough to peruse the draft and provide me with insight, criticism, guidance, etc., it would be greatly appreciated.

 

    When I'm in that conference room with those suits, I want to leave them dizzy with a proper presentation.

 

    Any and all help would be greatly appreciated.

 

 

 

Peace.

 

RedBeerd

post #2 of 14

When things were slow in my field a dozen years ago(2008 also for that matter) and I had some free time I wish I'd have thought of doing a food truck myself.  I can't offer much help as  am the only one in my family not in the food business.  I personally would consider offering just one exceptional/unique item, this has done well for some I've heard of.  Then there is a truck around Brown university that does well offering a variety of elegant French cuisine, with items typically priced around the mid-teens.  Regardless, do think of feeding the suits as part of your spiel.

 

Rick

post #3 of 14
Thread Starter 

^^ Yessir. I've been working on a way to make the presentation, then feeding them samples of the menu as a surprise at the end.

 

My kids might be involved.

post #4 of 14

RBC, wish you luck with your project, But.........reality is unless you have an 800 FICO score, years of experience in the field and cash on hand, you are going to be hard pressed to get a business loan for your venture through conventional means no matter how good your business plan looks and the food tastes.

post #5 of 14

This is true.. I had a credit score of 790-812 when I was looking for loans for my already-operating food truck, just a few grand for a 2 door fridge and an ice machine. I've been banking with my credit union for 12 years and even they turned me down. :( 

 

Good luck!

BTW, What kind of food truck concept???

post #6 of 14

My experience in trying to get loans when I was opening up my restaurant was that basically I had to prove that I didn't need the money, which I couldn't do, but I said the hell with them and went ahead with it anyway. Even the SBA wouldn't help me, I was too small, say what!

 

I didn't get any loans but through blood sweat and tears, doing the footwork pounding the pavement ferreting out incredible equipment deals and sheer stubbornness I managed to open my dream for an insanely low amount of capital that wouldn't seem feasible to any sensible person.

 

Where there is a will, there is way. Give it hell and good luck with your dream. Make it happen!

Wisdom comes with age, but sometimes age comes alone.
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Wisdom comes with age, but sometimes age comes alone.
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post #7 of 14
Thread Starter 

Not getting a loan is one of my greatest fears. For this reason (along with a few others), I created a corporation.

 

My thinking is that it might be easier to get a small business loan for a corporation, as opposed to a person.

 

Was this line of thinking wrong?

 

Thank you all for your input, kind people.

post #8 of 14

Not sure about that, what assets does the corporation have?

Wisdom comes with age, but sometimes age comes alone.
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Wisdom comes with age, but sometimes age comes alone.
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post #9 of 14

With no credit,assets or experience in the field, it does nothing for you.

post #10 of 14
Thread Starter 

Hmmm...

 

Very well then. I've got more thinking to do.

 

Thx for the input.

post #11 of 14
Quote:
Originally Posted by chefbuba View Post
 

With no credit,assets or experience in the field, it does nothing for you.


I had all three and they didn't do me any good. LOL

Wisdom comes with age, but sometimes age comes alone.
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Wisdom comes with age, but sometimes age comes alone.
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post #12 of 14
Credit for the little guy is almost gone. Do like cheflayne, hunt deals, scrape pennies, and improvise. When its up and running you got no one to thank but yourself and thats a great feeling. The most credit I ever had for my companies in the states or here is 30 days. When I bought a new truck last year for delieveries and catering I bought it cash. The dealer and the bank both offered me good terms to lease and buy, i said thankyou but no.
post #13 of 14
Thread Starter 

^^Damn, Lagom, I'm glad it worked out for you like that.

post #14 of 14

 These are a few sites that have a lot of info on the subject. I am building my own food truck as well. http://mobile-cuisine.com/ http://foodtruckr.com/. I would also offer this. Read this book:  Running a Food Truck For Dummies. It is well worth the read. Good luck on your venture. 

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