EXECUTIVE SUMMARY OF A FOOD TRUCK BUSINESS PLAN
Being the most important part of the business plan, the executive summary is under focus as we seek to provide a guide on how to write a compelling and effective business plan through the executive summary section.
This section holds the key to how well the business plan will be written. This is more so coupled with a growing interest among entrepreneurs and investors alike to take advantage of the food truck business sector.
This business plan executive summary will reveal all you need to know.
What we seek to achieve here is to provide a guide for these entrepreneurs who are interested in starting this business, yet have little or no experience on how effectively write an executive summary, and by extension, the business plan. The executive summary effectively summarizes the entire contents of the business plan, which are expanded upon in subsequent sections of the document.
At the end of this food truck business plan executive summary, you should have lesser worries on how to write one.
The Executive Summary
Mobile Restaurant is a food truck business with operational base in Florida which will offer our esteemed clients a variety of food products sold mainly through our eco-friendly food trucks which would run on vegetable cooking oils, and would target high density areas within Florida to sell our food products which will comprise of a large variety of foods such as chicken, macaroni, sandwiches, soups, and cheese among others.
An advantage we would have over several other competitors is the availability of food during most times of the day which would be served from 10am to 10pm from Mondays to Saturdays. Also, we would be building our business model on getting real value for money. Thus, our food would be sold at pocket friendly rates, while also getting value for money. As a food truck business, our services are not restricted to a specific location, as we would target high density areas to offer our services and products.
Funding for this business will be sourced from debt financing and savings. A target sum of $700,000 is required, and out of this sum, $170,000 has been realised from savings kept aside by the owner Mr. Keith Stevens. The major part would be sourced through a debt financing arrangement with reputable financial institutions with which the owner does business with.
A major part of the investment capital will be channelled into the purchase of 2 food trucks, a business outlet or office, and equipment. Others will include the payment of wages and the marketing of our business.
As part of our expansion plans, we have a target of franchising our food truck business in 5 years time starting from the date of commencement of business operations. Using the right strategies, we would expand our operations through this channel to cover several states across America. An area we would exploit to our advantage is the acceptance of all forms of payments which will include cash, Points of Sale (POS) payments for services, credit cards, and cheques and also mobile and internet payments among others.
Our mission is to be the foremost food truck business in Florida within 3 years of our operations. Currently, there are similar businesses which offer our types of services. However, we will raise the bar higher in how food truck business is done through the adoption of eco-friendly strategies such as the use of vegetable oils to power our trucks and also seeking better ways of serving our clients across Florida.
Over the next 3 years, we plan on considerably increasing our revenues which would see us generating impressive profits. Our profit projections have been drawn using current industry trends and economic indices based mainly on the level of disposable income of Americans. However, some key uncontrollable features have been discounted such as economic recession and natural disasters. The table below summarizes our financial projections;
- First Year $200,000
- Second Year $390,000
- Third Year $700,000
Our immediate expansion plans are centered on Florida in the short term, where we seek to open more outlets to cover the entire state. However, in the long term range, we have our sights set on locating our operational outlets in all the states within the United States. This would mainly be driven by our franchising arm which would make available to interested franchisees the opportunity to own our business nationally.
We have set a time frame for the commencement of our franchising operations at 6 years from the date of the commencement of business operations.
Keys to Success
We will be taking important steps in building a nationally respected food truck brand through the adoption of effective marketing strategies which would be coordinated by an effective marketing department. Also, the welfare of our workforce is a top priority, as we know how important their welfare would translate to their level of productivity. Therefore, we would have in place attractive remuneration packages that would act as an incentive to work.
This is a sample which contains some of the most important requirements for writing your food truck business plan executive summary. Using this as a guide, you are assured of producing a sound executive summary, which in turn impacts positively on your food truck business.