FOOD CART BUSINESS PLAN SAMPLE
If you are a startup entrepreneur, I am sure you must have made adequate preparation towards starting that food cart business, and you are familiar with all the requirements needed to start a food cart business.
Perhaps, you want to write a business plan because you need it to source for a bank loan.
Well, the purpose of this article is not to tell you why you need a business plan.
This article is here to give you a template to help you write a business plan for your food cart business.
BUSINESS NAME: Stevens’ Foods
- Executive Summary
- Vision Statement
- Mission Statement
- Business Structure
- Products and Services
- Market Analysis
- Target Market
- Sales and Marketing Strategy
- Financial Plan
- Exit Strategy
EXECUTIVE SUMMARY
Stevens’ Foods is a fully registered food cart business which will be established in Ann Arbor, Michigan, United States. This food cart business will offer food services to a broad range of clients ranging from corporate clients to the individual clients. We will offer various types of food delicacies with unique taste to nourish our customers.
MORE: Starting a Food Kiosk Business Plan
Stevens’ Foods will be owned by Jones and Catherine Stevens, and it will be situated in a building facility located in a strategic location in Ann Arbor, only a couple minutes bus-drive away from the University of Michigan. In due time, we will be able to execute our plans of offering franchise sales of our food cart business in the United States.
We have ensured we give adequate attention to hygienic practices and packaging of our products. We have made this possible by first obtaining all the relevant and statutory licenses and permits from the health departments in Michigan.
VISION STATEMENT
At Stevens’ Foods, our vision is simple and straightforward: To become among the top 10 leading food cart businesses in the whole of the United States. We will accomplish this vision by employing the right staff; employing the perfect sales and market strategy to our business; and most important, by serving our customers quality and unique food delicacies.
MISSION STATEMENT
Here at Stevens’ Foods, our mission statement is to establish our business to become a renowned brand that especially takes interest in readily fulfilling the needs of our esteemed customers. We will offer our products to our customers whenever and wherever.
We will also establish our business into a successful business franchise and give trainings and support to prospective franchisees to help them successfully establish their own food cart business anywhere in the United States, under our brand name.
BUSINESS STRUCTURE
We will start Stevens’ Foods as a promising food cart business, and overtime, we will grow it big into a renowned business that also offers franchises for sale to prospective franchisees. We will grow big into a leading food cart business in the United States. Because of our vision, we will do well to hire employees that are qualified, competent, and motivated, who are ready to share our vision and take part in something huge.
The following are the key employees we will employ at least for the first few years before we will review our business plan:
– Chef (caterer)
– Sales Person
– Office Administrators
– Drivers
– Cashiers
Jones Stevens and his wife Catherine will be the owners.
PRODUCTS AND SERVICES
Stevens’ Foods is committed to nourishing its customers with unique and good quality foods that will keep them happy. Because of our strong desire to be counted among the leading 10 food cart businesses in the United States, we will also offer both full-services restaurants as well as quick-services to ensure we leave no stone unturned when it comes making our customers happy and accomplishing our vision.
We will offer a broad range of pizzas that will include a variety of sizes, as well as several other snacks and assorted meals and drinks (such as fruit juice, wines, and other beverages).
MARKET ANALYSIS
There is an ever growing trend in our today’s society. People are becoming much busier by the day, the 24-hour period is no longer sufficient enough to complete all the daily tasks let alone time allotted for cooking meals.
As a result, the growth of fast foods is on the high. The food cart business richly caters for the needs of all people.
TARGET MARKET
The food cart business is one that allows you to operate anywhere within the area you are doing your business without any sort of restriction, unless any restriction as made known by law. The scope of our target market is vast, and we will not put too much limit on where to take our business.
The following are some key areas or places we will operate our food cart business:
– Tourism sites.
– Institution campuses.
– Carnival grounds.
– Construction sites.
– Relaxation areas.
– Small and big businesses locations.
– Schools of all sorts.
– Office complexes.
– Industrial areas.
– Stadia and other sport facilities.
– Hospitals and Clinics.
In fact, the above list only outlines a few of the places we will target. As long as there is a gathering of people anywhere, we will surely stretch our services to that area.
SALES AND MARKETING STRATEGY
Our business vision is again, to become one of the leading food cart businesses in the United States. We will ensure we make this vision a reality by making sure we create good sales and marketing strategies.
First, we will send introductory letters to business corporations, public and private residences and others. We will also write and submit proposals to event management companies, schools, small and big business corporations, and management of public facilities, requesting to be their official number one food vendor.
We will register our business and the products we have to offer on local directories. We will publicize our business on newspapers, magazines, social media platforms, and television and radio stations.
FINANCIAL PLAN
Pricing Strategy
On a general note, the prices of food sold in food cart are a little less than the price of foods sold in the conventional food restaurant. We will do well to ensure we do not sell our foods at prices above the typical prices of food in the industry. This does not however mean that we will sell our food at very low prices that will not guarantee us profit.
In fact, we will not by any means reduce the quality of our products just to fit within the typical prices in the industry. We will ensure to keep the prices of our products reasonable and affordable by our customers.
Payment Option
We will accept payment for purchases in the following payment options.
– By cash
– Through the use of Point of Sales (POS) machine.
– Through mobile money.
Startup Costs
The total startup investment sum required amounts to $400,000.
Sources of Funds
The startup investment sum will be sourced from the owners, Jones and Catherine Stevens; and from our Bank in the form of a loan. $200,000 out of the $400,000 will be generated from our personal savings and investments, while the other $200,000 will be obtained as loan from our Bank.
EXIT STRATEGY
Of course we do not see our food cart business heading in the exit direction because we have made enormous preparation and plans to grow it from scratch into a renowned business and a leading franchise in the industry.
However, in the event that Stevens’ Foods decide to head the exit door, we will not completely fold up the business, rather, we will sell Stevens’ Foods to any of our top franchisees. This is what a food cart business plan should look like, share.