The Colorful And Tasty World Of Food Trucks – What You Need To Know About The Industry

TRUCK

The Food Trucks industry being one of the best-performing segments in the broader food-service sector has grown in strength over the past five years. The food trucks are being unique, gourmet cuisine at moderate budget prices. “Cities such as Melbourne, Sydney, Brisbane etc. has an increased industry revenue at an impressive annualized rate of 9.3% over the five years to 2015.

The Marketing Research Of Food Trucks :

“Market Research” of the food truck is the process of analyzing the data of food trucks to help you understand which types of food menus or food products are in demand, and how to be competitive.

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To start a food truck business and make it successful, all you need to learn is, about the food truck industry, your prospective customers and your competitors. The best way to gain the information is through the food truck market research.

Conducting food truck market research will help you to know:

  • How to reduce the business risks
  • Helps to build the food truck business plan
  • Helps out to spot the current problems in mobile food truck industry
  • Identifies the sales opportunities and the revenue streams

In the following means marketing research of food trucks can be done easily:

  • Local mobile food associations
  • Trade groups
  • Business Magazines (mobile cuisine magazines)
  • Culinary Institutions

The food trucks secret weapons would be the following:

Customer Experience:

When the customers were asked about the quality of food at food trucks and their offerings, 43% gave rating as excellent and 48% gave as good. Over 80% of the customers described food trucks as:

– Exciting
– Fun place
– Unique

And when they were asked why they choose to dine at one, the answers were

  • Reasonable prices
  • Good service on time

Good Money Management:

Good money management is must to run a profitable business.

one should at least have a report weekly or monthly on the following expenses:

– Food and gas
– Routine maintenance
– Parking
– Employees salary
– Monthly truck rent fee

Know Your Goals:

Separate The “Needs” From “Wants”- if the revenue a food truck creates is spent recklessly, Even the most profitable food truck business will fall flat on its face. But if you’re flipping the steaks and serving the customers with so much stuff on your plate, it’s hard to focus what you really need and what you just want.

Emergency Funds:

Without the backup funds, even a single accident could send your business crashing down. At least, a 6 to 12 months’ worth of profit should be saved.

Customer Service and Experience:

Customer-base is the food truck’s life-blood.

– Listening to the positive and negative feedback’s (social media, face-to-face, etc.)

– Always being on time (deliveries, serving food, on events, etc.)

–Using the amazing sincere smile.

– Keep the customers involved! Talking to them through google or Facebook  – running a poll for the next truck design or asking them what they want to see on the menu next week. All these will make them feel like a part of the business, which can only be good!

Good Time Management:

Good time management for the tasks like

– Food preparation & Delivery
– Routine safety and the maintenance checks
– Checking the emails and reading customers feedback

Maintaining the Hygiene:

though it’s a small mobile food provider customer will not compromise about the cleanliness, maintaining the hygiene and cleanliness with good taste of food can grab more customers.

Promotions:

Promoting about the food truck through pamphlets, newspapers, advertisements, asking the customer to write a review on social media will help people know about the food truck better. last but not the least nothing can do better than MOUTH TALK.

References

(n.d.). Retrieved from http://www.ibisworld.com/

(2016). Retrieved from Broadwayworld.com: http://www.broadwayworld.com/bwwfood-wine/article/Food-Trucks-in-the-US-Industry-Market-Research-Report-from-IBISWorld-Has-Been-Updated-20150202-page2

FAST FOOD SERVICES IN AUSTRALIA MARKET RESEARCH | IBISWORLD. (2016). Retrieved from “Fast Food Services In Australia Market Research | Ibisworld”. Ibisworld.com.au. N.p., 2016. Web. 21 Aug. 2016.

Food Truck Market Research: 3 Great Resources. (2015). Retrieved from Mobile Cuisine | Food Truck, Pop Up & Street Food Coverage: http://mobile-cuisine.com/startup-basics/food-truck-market-research-3-great-resources/

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