Hey everyone. Im writing a 5 year business plan as I am in the middle of acquiring a food truck business. We currently have 2 trucks and both are bringing in great revenue. We almost solely work out of breweries. I am coming up with ideas to scale this business and would love your input!
To begin with we are going to do alot of things internally like fine tuning our operations, implementing automation, put more resources into marketing, outsource non-essentials, and make some new hires.
What I am looking for are some big ideas! We are going to scale this baby up! For instance here are some that I've been kicking around:
-Adding another truck to our fleet. This is probably the most obvious idea. We currently have a proven model, so bringing in a new truck makes alot of sense.
-Moving into big events. As I mentioned we currently work out of breweries for the most part. Don't get me wrong, we are doing great business there. But I have feeling that larger community events, music festivals, fairs, etc. are where the big bucks are. I havent done any research on this but plan to.
-Diversifying our existing trucks. So here is a very interesting idea. The current owner and I were chatting about the business and he mentioned that one of the owners he admires the most has a fleet consisting of two trucks that are completely different restaurant concepts. He hires them out to the same events at the same time. This is brilliant. It brings down costs across the board while boosting revenue at the same time.
-Vertical integration. In my state, food trucks are required to use commissary kitchens. This is were all the food prep is done. It must be a professional, certified, and inspected commercial kitchen. Some people work out of random spots. For instance we currently get commissary service for free. The owner is buddies with a bar owner that lets him use his kitchen. Its an awesome arrangement which I plan on including in the term sheet for purchase. For the most part though, trucks work out of a professional rented space. Starting a commissary kitchen is actually what the current owner is hoping to get into after the sale goes through. Honestly, I have no info or insight into this idea. It just sounded like it made sense and could work.
What do you all think? Have any other brilliant ideas as to how we can turn this small business into something great? Thanks for making it through this long post and letting me tell my story. All input is appreciated!
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