Do you want to increase food sales and build a brand? If YES, here is a sample food truck marketing plan template that will help you attract & retain customers .
Okay, so we have considered all the requirements for starting a food truck business. We also took it further by providing an in-depth sample food truck business plan template. In this article, we will be analyzing and drafting a sample food truck marketing plan backed up by actionable guerrilla marketing ideas for food truck businesses. So put on your marketing hat and let’s proceed.
A Sample Food Truck Marketing Plan Template
Table of Content
- 4. Our Marketing Budget
- 5. MARKET ANALYSIS
- 7. SWOT Analysis
- 8. SALES AND MARKETING STRATEGY
- 9. Sales Forecast
- 10. Our Pricing Strategy
- 11. The Benefits Our Client Stand to Gain When They Patronize Our Foods and Drinks
- Strategic Marketing Alliance with Our Competitors in the Food Truck Industry
- 12. Our Customer Retention Strategies (Ways to Improve Our Customer Experience)
1. Our Present Business Situation
On The Track® Mobile Food Company is a Los Angeles based restaurant business that makes use of food truck to sell various menu of foods; basically lunch meals to different category of clients on the go. It is a company that is owned and operated by Mrs. Shavonne who happens to be the Chief Operating Officer.
Our food truck business has been legally registered and we have acquired the required business license and all the necessary permits to run this type of business in Houston, Texas and neighboring states. Presently we have our food handling certificate, the appropriate driver’s license, health inspection certificate, kitchen insurance and proof of district-issued food manager identification card amongst others.
All the required employees have been duly employed and trained. We have our branded food truck (40 ft. trucks, with standard kitchen facility and cooling system) and all accessories intact including the supply we would need for a period of 2 weeks.
We have a physical office cum kitchen as required by the law in Texas. As a matter of fact, we have been able to test run our services for 2 weeks in a small community in Huston, and we are set to commence fulltime operation from Monday the 31st Day of November, 2015.
2. Our Product and Services
The mobile food truck business might not be too ideal an environment to prepare and sell high end and expensive delicacies like; intercontinental meals et al. However, we at On The Track® Mobile Food Company is set to go all the way to ensure that we meet the basic needs of our esteemed customers. As much as lies within our power, we will offer a variety of menus ranging from snacks, to real meals, and also assorted non – alcoholic drinks and wine. Here is a sneak peep at what we plan to offer;
- We sell lunch (assorted meals)
- We sell snacks
- We sell assorted drinks (Soft Drinks, Wines, smoothie, and punch, Fruit Juice, Chapman and Energy Drinks et al)
- We Sell franchise
- We offer training and consultancy services on mobile truck food business
3.Our Mission and Vision Statement
To become the leading brand in mobile food truck business in Los Angeles and the whole of united states of America and Canada
We are in the mobile food truck industry with the aim of building a brand that can meet the needs (foods, snacks and drinks) of our esteemed clients in places where they can hardly access standard cafeterias. And also to offer entrepreneurs the opportunity and training needed to successfully lunch their own mobile food truck business in other cities in the US and Canada
Our Market Goals
First and foremost, our number one corporate goal as a food truck company that is in operational in Huston Texas is to become the number one choice when it comes to food truck. In essence we want to become the market leader in the food truck industry as far as Texas is concerned.
In view of that, we are set out to achieve the following market goals:
- Sell a minimum of 80 percent of our foods and drinks everyday within the first 6 months of operations
- Sell – out all our foods and drinks at all times (after 6 months of entering the market)
- Increase the numbers of people that patronizes our food truck business by 10 percent quarterly
- Increase the numbers of our food trucks to 5 functional food trucks within 3 years of launching the business
What we aim to achieve from our market efforts are as follows:
- To compete favorable with the leading food trucks companies in the whole of the United States of America and Canada
- Build a successful food truck brand so as to enable us start selling our food truck franchise after 5 years of full – time operations.
4. Our Marketing Budget
When it comes to food truck business, the number one marketing tool is the food truck itself which is why we have been able to set aside $10,000 as our marketing budget for the first year of operations. This is so because of the nature of the food truck industry; people will patronize you when they see you and of course repeated sales can only be generated if your food and drinks taste good and are affordable.
Going forward, we will budget between 5 percent and 10 percent of our annual income towards marketing of food truck business. Please note that we are likely going to increase this budget when the need arises especially if we have to explore a more expensive but efficient marketing approach.
5. MARKET ANALYSIS
- Food Truck Industry/Market Overview
For the last seven years; from 2008 to 2015 to be exact, the truck food industry has experienced consistent growth. Despite the fact that the food truck business may not be new in the food service and restaurant industry, it is a known fact that the food truck industry is still growing in leaps and in bounds and there is still more rooms for growth within the industry. Notwithstanding the introduction of some unfavorable laws and regulations by many cities across the United States and Canada, food truck business is still flourishing trade.
- Interesting Statistics About the Food Truck Industry
The annual food truck revenue in the United States is about $1,200,000,000 and the Industry revenue increase by 12.4% over the past five years. The total number of food trucks in U.S. is put at 4,130. Food truck Industry revenue increased over the past five years at the rate of 12.4 %. The average revenue generated per food truck in the United States is about $290,556 and the average spending per order at a food truck is $12.40. The average amount required to own a food truck is about $85,000.
In the United States, Canada, Australia and even Europe, the percent of sales generated by food trucks based on market segments are; Street locations or street corners accounts for 55%, construction work sites and industrial sites accounts for 15%, shopping malls accounts for 12% and other locations, venues and event centers accounts for 18%.
Food trucks have been around for years, they are popular when it comes to serving construction sites, camp grounds, factories, and other blue-collar work locations. The industry is meeting a need in the society; people who don’t have the time to search for restaurants or travel a distance to eat in a restaurant find it time saving and cheaper to patronize food trucks. Food trucks are not only patronized for their affordability, but also because it saves time and it brings back memories; the business has been around as far back as 1800s.
6.Our Target Market
Although food truck business is business concept that is designed for everybody especially the average person on the street or on a construction site, but statistics has it that the biggest buyers of foods from food trucks are young adults and parents with children at home. As a matter of fact, people that fall within the age range of 25 to 34 are the largest consumers of snacks and fast foods from food trucks. They spend an average of $ 44 per month.
The idea of starting a food truck business is to sell food and drinks on a mobile truck in areas where people find it difficult to access a restaurant, areas such as carnival sites, construction sites, sporting event centers, camp grounds, and beach et al.
We are also going to take advantage of places like campuses, office complexes, military bases, mechanical village, industrial parks, farmer’s markets, cinemas, and religious centers. These are the factors that will guide us when choosing a location for your food truck business.
7. SWOT Analysis
As a team together with our paid business consultants, we have been able to look both inward and outward, as well as critically assess ourselves and business ideas to know if we are truly ready to launch our mobile food truck business in Los Angeles.
No doubt, we have a lot of factors working in our favor but at the same time we have some factors that we must contend with if we intend becoming the number one brand when it comes to mobile food truck business in Los Angeles and the whole of North America. Below is a summary of the SWOT analysis that was conducted on behalf of On the Track® Mobile Food Company;
Aside from the trainings that have been acquired, as well as the hands on experience attained over the years prior to starting On The Track ® MobileFood Company, our strength lies in our financial capacity and determination to succeed in the business at all cost. We have been able to acquire a brand new mobile food preparation vehicle (MFPV).
It has the capacity to meet the needs of well over 500 customers per day. Our strength also lies in the fact that we have relationship with brand experts who are working almost for free for us. With that, will be able to build our brand to a level where we can start selling franchises and offer trainings and consultancy services on mobile food truck business.
The fact that we are planning to roll out our mobile truck business alongside other similar business offerings like training, consultancy services and sale of franchise could distract us from concentrating and channeling our energy in one direction. We are quite aware of that and we are working towards blocking any area that will sap our energy and make us under performed in our core business area – sale of foods and drinks from a mobile truck.
The opportunities that we stand to leverage on are much. The fact that we are not tied down to a location is indeed a good opportunity for us to grow our business to the level we want to grow it to. For example; we can afford to trade foods, snacks and drinks in more than two locations within a day. It is all about knowing when to arrive and leave for another location.
There is hardly any business venture that doesn’t face its own threat. Regarding mobile food truck business, one of the threat that we may likely face is; vehicular traffic in key cities. Traffic can delay one and as a result of that one may get to the location where one intend selling the foods and drinks late- this could be when the lunch break is over (basically for organized events). Yet another threat is; the government policies, which could also pose a great threat to the mobile food truck industry.
8. SALES AND MARKETING STRATEGY
- Sources of Income
Businesses that do pretty well are businesses that have more than one source where they generate revenue. It is risky to run a business where you can only generate income from just one source. The truth is that if anything goes wrong with the source of income, the business might likely collapse. The big picture we have for On The Go® Mobile Food Company is to generate income from the following sources;
- Sales of launch (meals)
- Sales of Snacks
- Offering training services
- Offering consultancy services in line with our business goal
- Sales of drinks
- Sales of our franchise
9. Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also assumptions. This is for sales projections based on what we saw.
- 1000 lunches per day (on average), 12 months per year
- $20 per person on the average
- 1500 snacks per day, 12 months per year
- $5 per person on the average
Sales of Drinks and Water et al:
- On the average over 80% of people who purchase lunch (meal) and snacks would normally consume drinks as well.
- $1.5 for a bottle of coke
- This equates to 2000 drinks in a day when you multiply 2000 by 1.5 we will make an estimate of $3000 daily from the sale of drinks alone
N.B: The possibility of the figure to increase or even reduce cannot be ruled out. Since most of the figures quoted above are partly based on the report from our market survey and feasibility studies and partly on assumptions
10. Our Pricing Strategy
Generally food truck business sells meals, and snacks at a cheaper rate when compared to the conventional fixed – restaurant. We don’t have any plans to sell our foods, snacks and drinks beyond the prices that is obtainable in the industry. That does not mean that we will fall below standard when it comes to the quality of our food. As a matter of fact, one of our strongest selling points will be the taste and perhaps the quantity of our foods when compared to our competitors.
From our market survey and feasibility studies, we are sure going to make reasonable profits even when we sell a little below the average price for package foods and snacks in the food truck industry, especially if the location we intend selling our foods and drinks is not far away from our base.
Our Unique Selling Point; What Makes Our Food Truck Company Superior to Our Competitions
We are quite aware that in order to gain market relevance in the food truck industry, we must come up with unique strategies that will stand us out in the industry.
In essence, our unique selling point cum value proposition is geared towards selling our foods and drinks at prices a little below what our competitors are selling. Another idea that will give us leverage in the industry is to ensure that our food truck is a one stop mobile restaurant; we will engage in the sales of varieties of foods, snacks and drinks (organic and non – organic food, vegan foods et al.)
Over and above, we will not at any time compromise in the quality and quantity of our food. Our quality control office will be made to always up the game as far as our food quality is concern.
11. The Benefits Our Client Stand to Gain When They Patronize Our Foods and Drinks
We are quite aware of the competitions that exist in the food truck industry in the United States of America, hence we were able to conduct a thorough feasibility studies and market survey so as to enable us penetrate the market and also generate the required daily sales that will guarantee that will grow as projected in our business plan.
In view of that, here are the benefits our customers and potential customers stands to benefits when they patronize of foods and drinks:
- Good quality and healthy food and drinks at all times
- The best price / deal they can get within Texas and neighboring states
- Flexibility when it comes to making choices for foods and drinks
- Availability of takeaway packs (free of charge)
- Excellent customer service experience from our highly trained employees
Strategic Marketing Alliance with Our Competitors in the Food Truck Industry
The nature of food truck industry makes it possible for companies in the industry to enter into strategic alliances as it suits them. But the truth is that, most players in the industry will ensure that they maximize sales as much as they can.
Well food truck business unlike the conventional brick and mortar restaurants can easily move from one locations to another if there is need for you to quickly change locations or first more than five locations in one day, you can easily achieve it.
So when it comes to strategic alliances, it will only be possible if a food truck company is not a one stop food truck company where consumers can get every kind of foods and drinks they want.
For example if company A operates a gourmet cuisine food truck and they are in a location where people are in need of organic food and drinks, they can easily contact company B if they operate freshly prepared sushi rolls and organic food truck. As a matter of fact, they can operate as business partners so as to be giving clues on the best locations to visit based on what people are asking for per time.
12. Our Customer Retention Strategies (Ways to Improve Our Customer Experience)
The success of any business is directly proportional to the numbers of repeated business they are able to generate. If a company is able to achieve over 60 percent retentions the company will sure experience huge turn over. We have perfected plans to improve our customer experience from time to time.
These are the ways we intend utilizing when it comes to improving our customer experience so that we can create a good impression and generate repeated sales from them:
- Ensures that our food and drinks taste good and delicious at all times
- Ensure we get feedbacks from our customers at all times
- Give our customers the flexibility to choose what they want.
- Make use of mobile Apps to communicate the locations or our food truck per time to our customers and potential customers
- Make use of effective customer relationship management (CRM) software to effectively manage our clientele base.
- Ensures that we carry our clients along when making decisions that directly affect them.
The Possible Ways We Intend Offering Incentives to Our Customers / Clients (Bonus, Discounts, etc)
Part of our marketing strategies which is clearly stated in our business plans is to ensure that we offer our customers incentives in order for us to retain them and of course continue to generate repeated sales from them and also to attract new customers. We know that if we are going to win our own fair share of the existing market, then we must be willing to outsmart our competitors.
In view of that, we will ensure that we sell our foods and drinks a little bit below the average price in the industry while still maintain good quality and quantity of food.
We will create a loyalty plan that will enable us reward our loyal customers. Rewarding them could be giving them discounts on every purchase they make and also giving the gifts during special occasions
- After Sales Service and Customer Support
Well the nature of our business does not warrant that we offer after sales services or customer supports but we will ensure that we try as much as possible to always get feedbacks from everyone that purchase our foods and drinks. With that we will be able to know how to meet their needs.
We will ensure that we open several communications channels such as email, telephone and social media platforms so as to enable our customers communicate to us or lodge their complaints.
Possible Questions We Intend Asking Our Customers During Our Market Survey
These are the 10 possible questions we are going to put forward when conducting marketing survey on our customers / clients:
- Are you satisfied with the taste and quantity of our foods?
- If you are not satisfied with the taste and quantity of our food what areas would you want us to improve on going forward?
- What time of the day would you want our food truck to be stationed in your location?
- How would you want us to communicate with to you when our food truck will arrive at your location? Text messages, e – mail, or via mobile apps (BBM, twitter, WhatsApp et al)
- How much are you willing to pay for a pack of breakfast and lunch?
- Is there any food or drink that you would prefer that is not in our menu? If yes please list them.
- Aside from food and drinks, would you also prefer to buy snacks and ice cream from us?
- If you are to change one thing in Food Truck Company what would that be?
- Can you comfortably recommend our foods and drinks to your family members, friends and colleagues?
- Are you satisfied with our customer service delivery? If not what areas would you want us to improve on?