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Executive summary
Food truck feasibility study sample
Executive summary
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Executive Summary
The end goal of this proposal is to come up with a food truck that will be located in Harrisonburg. A demographic will be targeted and marketed to. The food truck will not be tied down to one spot but will, move around the Harrisonburg area, based on the ever evolving market. The food truck will come up with a specialized menu with a limited variety, but focus on quality. Many people do not like the monotony of everyday food choices, and often look for new places. The food truck will try innovative choices that break away from the monotony of everyday choices. It will be the goal to offer a niche food choices that are unique and can be made quickly and affordable. Not only will the niche food be offered but along with drinks and sides that complement the main food offered.
The food will be up to date with all health code requirements. It will also be in compliance with the standards and practices of the locations that the food truck will be located. As of such research in permitting, regulations, and city zoning will need to be explored.
It is the goal of the food truck to find an advantage and develop an appeal that will raise the company above the competition. To do this trends and untapped potential markets will need to be explored. A food trucks main advantage comes in its mobility. Harrisonburg is a huge college town. James Madison is continuing to grow and pulls large amounts of students in every year. Mobility of the truck will give the truck the ability to target customers based on the target demographic.
Marketing and Branding is essential to survival. The possibility of food specials will need to be explored, as well as discounts for students, the elderly, and veterans. The ability...
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...ess visibility.
Utilize Social Media
In the modern day of social media, a web presence is a must. By using face book and twitter you can keep connect to your regular customers and advertise successfully. Through use of social media, your location can be passed to your customers. It is also a good way to keep in touch with the general public, to allow for feedback to further improve your business.
Expand
If the business is successful there should be a plan for expansion. Once the business model is proven there is an opportunity to get bigger. Merchandising could present another stream of income. Merchandising also adds to advertising. The more unique the food truck the more people will be likely to promote your business with merchandising. The addition of more food trucks or carts, as well as a brick and mortar store should periodically be looked at.
After a long day in school and studying, every student needs a night off to just relax and enjoy a meal at a restaurant. In this modern time, some aspects of a restaurant can be the deciding choice. Many choose their restaurant of choice based on either those they are with, their personal, cultural appetite, their routine eating habits or their mood. Some of these preferences are similar yet others are the deciding differences. Two common franchise restaurants that pose differences are Applebee’s and Olive Garden. These two restaurants present their differences in environmental and food options causing a choice between them.
In order for any restaurant to keep up, they have to be willing to learn and implement instead of sitting back and expecting repeat customers for a location with menu options that never change to accommodate its customers. When a restaurant thinks bigger, acts quicker, and moves faster they are more likely to stay ahead of their competition. Sanjiv Rasdan (2016), Senior VP of operations for Applebee’s USA, points out three key opportunities that he believes are key to this strategy: food, experience and environment, and keeping ahead with
The Santa Fe Grill is a relatively new Mexican restaurant that was started by two former business students from the University of Nebraska, Lincoln. The idea sparked after the two roommates who were both interested in pursuing entrepreneurial interests decided that a Mexican restaurant in their city would be highly successful. While taking an entrepreneur class at the University, the plan for the business began coming together. Their main focus was to create a restaurant that would feature the freshest ingredients, as well as a lively atmosphere, cutting edge advertising and marketing, plus exceptional service for customers. (Research Methods, Pg. 19) By doing so, the students hoped that they could fulfill their dreams of ownership.
the city they will tend to stop somewhere like KFC or pick up Chinese food and take it home because it is close, fast, and everyone can not resist eating it. To take a case in this point, for example, in Orlando, Florida they have over four hundred and sixty-three fast food restaurants. Per 100,00 residents they have about 196 fast food joints to feed
The creation of a “healthy hamburger” could be an excellent choice, as they would be the first QSR (Quick Service Restaurant) to have FDA backing on marketing a low calorie burger with low calorie combo alternatives. In conjunction with healthier options, they can also implement optional allergen free food items, such as gluten free and peanut free. This would enable people that are more health conscious or with special dietary needs more options to choose from. McDonald’s currently serves approximately 1% of the world’s population so expansion in newly developing markets could prove to be beneficial. With such a prominent brand name and image, they can also choose to venture cooperatively with retailers such as supermarkets to help build their dining-out market. If they would prefer to focus on their dining-in market, they could improve restaurant settings to appeal to a more upscale market, like McDonald locations in particular cities like New York. If they would like to remain competitive in the beverage industry, they would need to find more ways to appeal to consumers and increase their offerings. Such additions include a more compelling drink menu and revision of the atmosphere in their stores. They can achieve this by broadening advertisement of Wifi and internet capabilities in their stores, which would go in tangent with a more classier and upscale
In the past few years, the sandwich market has gained incredible popularity in the American culture. As the fast food landscape continues to...
The purpose of this paper is to introduce you to the fast food industry, how it is everywhere in the United States and increasingly spreading globally. The majority of the fast food restaurants in the United States is dominated by hamburger fast food restaurants. Amongst the burger segment, McDonald’s is the number one leader in the burger industry, followed by Burger King, and Wendy’s respectively (Oches, 2011).
Serving Up Healthy Choices in New Franchise Opportunities. (2011). Retrieved from Fresh & Healthy Brands: http://www.freshandhealthybrands.com
All cooking and baking for the fast food will be done in the kitchen facility. This facility will be equipped with computerized deep fryers, commercial freezer and refrigerators, preparation tables, stoves, ovens, and other related equipment. One employee and one chef will be in charge in the kitchen.
By choosing to expand into markets later than other fast food restaurants Burger King hopes to avoid the problems of developing infrastructure and establishing a market base. For instance, by following McDonalds into Brazil, Burger King avoided the need to develop the infrastructure and mark...
Since the time Charles Goodnight moved the very first chuck wagon along the plains of northern Texas, food trucks have then performed an extremely significant part in America’s culinary landscape. They attract visitors as well as foodies looking for very special foods; take care of starving individuals, laborers, and also office workers of each demographic; and also please residents who identify the ideal meals in town doesn’t just come from a four-star restaurant but from the side window of a food truck.
The “Create Your Taste” is definitely drawing millennial attentions however there are problems associated with the change in the system. The major risk of custom-built sandwiches is speed. When a customer orders Create Your Taste, it takes about five to seven minutes to serve on the table. Furthermore, drive-through service would be processed slower. Soon after, this speed issue was mentioned during an investor meeting and resulted reduction of the number of Extra Value Meals from 16 to 11. McDonald’s could have lost its loyal customers from this menu changes after the company reported U.S. sales decline of 4.6 percent (Bowerman, 2014). However, this project was launches in 2015, cutting few menus would ease the time for processing custom burgers. In addition 2015 third quarter sales reported 0.9 percent increase in part of few menu change; adding EggMcMuffin with original recipe that use butter instead of margarine (Jargon, 2015). Likewise, McDonald’s are able to put the old menus back again and still bring back the loyal
Competition Among Fast Food Chains MARKETING INFORMATION NEEDED FOR THE FAST FOOD INDUSTRY. To begin with, for the fast food industry around the world, the leading fast food chains marketing information is wrapped around convenience location, changing preferences, quality of food, pricing of fast food, potential customers, age of the customers, menu selection and diversification and last of all superior service. From a marketing perspective, location for the fast food service to the potential customers is most important, according to Maritz Marketing Research. A recent study showed the location has to be convenient. The analysis said that adults under the age of 65 prefer a convenient location for their fast food.
Social media is a form of online communication channels devoted to society input, intercommunication, and cooperation. In social media, people can talk and interact without restriction, exchange and debate information with each other about their lives by using many different combinations of the words, personal multimedia, photos, and videos. Also, in social media, individulsa and groups can create, edit, comment on, and engage in personal conversations. There are numerous types of social media, for example, wikis, blogs, social network site, micro blogging services, and sites sharing media. At the beginning, social media was limited to a few networks sites, for instance, Bulletin Board System that allows people to communicate with each other and post a comment. Today, social media has transformed from ineffective sites to more useful and effective websites, for example, Facebook, and MySpace. Some companies are using social media to achieve their goals which is attracting more customers to company website. Three advantages of using social media in business are: raising brand consciousness, building customer relationships, and increasing performance measurements.
Food trucks are becoming increasing popular in the past few years. You can find them in every city and even some town in America. I’m not just talking about hot dog or ice-cream trucks. I am talking about the trucks that sell things like crab cakes, barbeque, fancy desserts, fish tacos, or upscale grilled cheese. The world of food trucks has changed so much. “People are looking at L.A. as a hotbed of the street food movement. (Robbins)” I think it has to do with the nice weather. Venders can sell food almost everyday. Also a lot of people live there and they all need to eat. Food trucks are a fast and convenient way to get good food. “During the first LA street fest the pair had anticipated they’d draw around 5,000 to the downtown event, not the estimated 20,000 fans who waited up to two hours for red velvet pancakes, mini banh mi, and lamb roti roll-up. (Robbins).” This was four times the amount of people they thought would show up. This tells us that they had a better idea than they ever thought. If people are willing to wait in for food from for two hours you know they must have something better. One of the great things about food truck is they are able to move around. They can go to the people. For instance, if there is a concert or a sporting event they can park right outside and people will just come to them. Also social media has had a very positive impact on food trucks. The trucks can post their location so people will know where to find them. People can voice their options about the food they have eaten. If a truck sees that people don’t like one of their items they can find out soon and start selling food people what to eat. Or when people have ideas of what they like to see on the menu they can voice their