Are you about starting an ice cream truck business? If YES, here is a complete sample ice cream truck business plan template & feasibility study you can use for FREE.
Okay, so we have considered all the requirements for starting an ice cream truck business. We also took it further by analyzing and drafting a sample ice cream truck marketing plan template backed up by actionable guerrilla marketing ideas for ice cream truck businesses. So let’s proceed to the business planning section.
Ice-cream is a very wonderful treat to give just about anyone. They come in different flavors like- vanilla, strawberry, chocolate and what have you. Starting this kind of business is fun because you will meet a lot of ice-cream lover. What is more, this type of trade isn’t capital intensive. With a little cash you can get started.
One of the things that you have to take note of before starting this business is the fact that you have to undertake some exhaustive research. This is very vital so that you are able to arm yourself with all the information that will be need to launch out into the market. The competition in this industry is pretty much because every day more and more people throng this trade. Nonetheless, that has not diminished its viability.
After that has been done, you will be required to write a business plan. Here below is a sample ice-cream truck busies plan;
A Sample Ice Cream Truck Business Plan Template
- Business Overview
The Ice Cream Production industry has come a long way and it is still evolving with loads of ice cream makers are bringing in creativity in terms of flavors, packaging and mode of selling like ice cream truck into the industry. Ice creams and have been around for many years (since the invention of fridges and deep freezers and can be found in various flavors in all the countries of the world including Iceland and countries in the Polar Regions.
Generally, players in this industry do not just make ice cream, but also frozen yogurt, sherbet, frozen tofu and other frozen desserts, with the exception of frozen bakery foods. So also it is the norm for ice cream makers to leverage in the food truck model of doing business to sell their ice creams.
Ice creams are generally consumed by almost everybody in our planet as such, anyone who chose to establish an ice cream trucking business in any part of the world especially in tropical regions or countries in the equator is sure going to get good returns on his or her investment as long as they are doing the right thing when it comes to setting up a business and effectively running the business.
Players in the Ice Cream Production / ice cream truck industry predominantly produce ice cream, frozen yogurt and sherbet et al, and sell these products to downstream markets such as retailers and food service related businesses. Between 2010 and 2015, the Ice Cream Production industry’s performance has declined as repressed disposable income in the years following the recession caused consumers to purchase a smaller volume of industry goods at retail stores, ice cream trucks and food service related businesses.
In addition, the growing health concerns around us have caused many people to cut down their consumption of foods such as ice cream, which is naturally high in fat and sugar. Largely, the industry revenue is projected to decline by 0.3 percent per year on average to $8.0 billion in the next 5 years.
It is on record that many players in the Ice Cream Production / ice cream truck industry were able to successfully beat the economic downturn and grow strongly over the last five years, as healthy and nutritious ice cream became one of America’s favorite frozen desserts.
No doubt, the increasing popularity of the dessert has enabled the speedy franchise growth of well-known brands in the industry which has made this industry one of the food service sector’s biggest success stories of the past decade. The ice cream production / ice cream truck industry has remained resilient even as other food segments waned during recession period
Statistics has it that there are roughly three hundred and seventy three (373) standard registered and licensed ice cream production cum ice cream truck companies in the United States and they can be found in all states, in major cities and remote rural areas in the U.S. The industry is responsible for employing about 18,474 people and raking in an average of $8B annually.
If you are contemplating starting your own Ice Cream truck business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies. States in the southern region in the United States such as Texas and Illinois et al can be ideal for an ice cream truck business simply because of the climatic condition / weather there. If you get some key factors wrong before starting your own ice cream truck business, then you are likely going to struggle to stay afloat.
Ice Cream Truck Business Plan – Executive Summary
Ms. Caramel Ice Cream Truck Company® is a leading and standard ice cream truck cum ice cream Production Company that will be based in Dallas – Texas, USA that covers a wide range of clients both domestic and corporate clients.
We in the ice cream truck line of business to retail a wide range of ice cream such as Bulk ice cream, Novelty ice cream, Frozen fruit pops, Low-fat and nonfat ice cream, Frozen yogurt, Flavored ice, Sherbet, and Other frozen desserts (except bakery) to a wide range of customers along the locations where we intend positioning our ice cream truck. We have put plans in place to also sell our franchise and offer consultancy services in line with our area of business.
Ms. Caramel Ice Cream Truck Company® is established by the Dallas award winning food nutritionist – Dr. Tanya West who has B.Sc. in Food Science Technology and a Master’s Degree in Business Administration (MBA) from Harvard Business School. She has a robust experience in the food and confectionaries industry having worked both in the public sector and the private sector prior to starting her own business.
We are in the Ice Cream Production / Ice cream truck Industry to favorably compete with other leading and brands in the industry and our corporate business goal is to be amongst the top 5 ice cream production / ice cream truck brand in the United States of America.
As a company, we are willing to go the extra mile to invest in some of the finest professionals we can find and also we have set plans in place to acquire the best of equipment when it comes to setting up a standard ice cream production plant / ice cream truck business. Our truck cum mobile cold – rooms (Freezers) are customized to fit into the kind of ideas we have of how a first class ice cream truck business should look like.
When it comes to hygiene and proper packaging, we have put plans, process and structures in place that will ensure that we are always at the top of game when it comes to that. We have been able to secure permits from all relevant departments in Texas.
Ms. Caramel Ice Cream Truck Company® is set to redefine how ice cream production / ice cream truck business should be run, not just in Dallas – Texas, but also in the whole of the United States of America. This is why we have put plans in place for continuous training and re – training of all our staff members at regular interval and also liaising with stake holder in the industry to contribute our quotas in the way ice cream making equipment should be designed and fabricated to meet the ever changing demand of the industry.
Beyond every reasonable doubt, the demand for frozen yogurts and ice creams et al is not going to plummet any time soon, which is why we have put plans in place to continue to explore all available market around the cities where our ice cream truck will pass through and also ensure that we create a wide range of distribution channels via franchising. With that, we know that we will be able to maximize profits in our business.
Our strongest selling point at Ms. Caramel Ice Cream Truck Company® is the unique taste of the different flavors of ice creams and frozen yogurts that we will produce and sell. There is hardly any customer that will taste any of our products who would not want to come back and make more purchase – we take delight in welcoming repeated customers over and over again.
Ms. Caramel Ice Cream Truck Company® will at all time demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our customers need precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.
Our plan is to position Ms. Caramel Ice Cream Truck Company® to become the leading brand in the ice cream production / ice cream truck industry in the whole of Texas, and also to be amongst the top 5 ice cream production cum ice cream truck brand in the United States of America within the first 10 years of starting our business.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Dallas – Texas is the right place to launch this type of business before spreading to other cities all across The United States of America.
- Our Product and Services
At Ms. Caramel Ice Cream Truck Company® we deal in all forms and flavors of ice cream and frozen yogurts, we are an establishments that primarily prepare, serve / sell ice cream and frozen yogurt via our customized truck.
As part our strategy to create multiple sources of income in line with our core business concept, we will run a consultancy service and trainings. Our intention of starting Ms. Caramel Ice Cream Truck Company® is to make profits from the ice cream production / ice cream truck industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.
Here are some of our products and services;
- Bulk ice cream
- Novelty ice cream
- Regular retail ice cream
- Frozen fruit pops
- Low-fat and nonfat ice cream
- Frozen yogurt
- Flavored ice
- Other frozen desserts (except bakery)
- Consultancy and Advisory Services
Our Vision Statement
To be amongst the top 5leading ice cream truck cum ice production companies in the United States of America before our 10th anniversary.
- Our Mission Statement
To build an ice cream truck cum ice cream product business that will meet the needs of all our customers and potential customers in the regions / cities where we have our truck will pass through and to sell franchise all across the United States of America and Canada.
- Our Business Structure
As part of our plan to build a standard Ice Cream truck cum ice cream Producing Company in Dallas – Texas, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent and hardworking employees to occupy all the available positions in our company.
The picture of the kind of ice cream truck cum ice Production Company we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in the ice cream truck cum ice cream production industry as long as they are willing and ready to work with us to achieve our business goals and objectives.
Below is the business structure that we will build Ms. Caramel Ice Cream Truck Company®;
- Chief Executive Officer
- Plant Manager
- Food Technologist
- Human Resources and Admin Manager
- Sales and Marketing Team
- Accountants / Cashiers
- Truck Drivers
- Customer Service Executives
Roles and Responsibilities
Chief Executive Officer – CEO (Owner):
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creates, communicates and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for overseeing the smooth running of the ice cream production plant
- A Part of the team that determines the quantity of drinks that are to be produced
- Maps out strategy that will lead to efficiency amongst workers in the plant
- Responsible for training, evaluation and assessment of plant workers
- Ensures that the steady flow of both raw materials to the plant and easy flow of finished products through wholesale distributors to the market
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Ensures that the plant meets the expected safety and health standard at all times.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversees the smooth running of the daily office and field activities.
- Responsible for the production of all the flavors of ice creams and yogurts produced by the company
- Ensures that the organization follows due process as it applies to the nature of business we are into
- Serves as the quality assurance officer of the organization
Sales and Marketing Team
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers (retailers) and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer purchases
- Identify, prioritize, and reach out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
Accountant / Cashier
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
- Drives the Ice cream truck
- Assists in loading and of loading the ice cream truck
- Runs errand for the organization
- Any other duty as assigned by the sales and marketing executive or human resources and admin manager
Client Service Executive
- Ensures that all contacts with customer (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
- Consistently stays abreast of any new information on Ms. Caramel Ice Cream Truck Company® products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
- Responsible for cleaning the truck at all times
- Ensures that toiletries and supplies don’t run out of stock
- Cleans both the interior and exterior of the truck and office facility
- Any other duty as assigned by the human resources and admin manager.
Ice Cream Truck Business Plan – SWOT Analysis
Because of our drive for excellence when it comes to running an ice cream truck cum ice cream production company, we were able to engage some of the finest business consultants in Dallas – Texas to look through our business concept and together we were able to critically examine the prospect of the business and to access ourselves to be sure we have what it takes to run a standard ice cream truck cum ice cream production company that can compete favorably in the ice cream production / ice cream truck industry.
In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in Dallas – Texas and even in the United States of America as a whole. Here is a preview of what we got from the critically conducted SWOT Analysis for Ms. Caramel Ice Cream Truck Company®;
Our strength lies in the fact that we have a wide range of ice cream flavors that can meet the needs of a wide range of customers. We have well designed and structured food trucks and equipment that has positioned us to meet the demand of products even if the demand tripled over night or if we have a massive order to meet and emergency need.
Another factor that counts to our advantage is the background of our Chief Executive Office; she has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired which has placed her amongst the top flight professionals in the United States of America. We are not ignoring the fact that offering consultancy services and running a standard and accredited training center is definitely going to count as a positive for us.
The fact that we are setting up an ice cream truck business in a city with other ice cream plants might likely pose a challenge for us in breaking into the already saturated market in Dallas – Texas. In essence our chosen location might be our weakness. But never the less, we have plans to launch out with a big bang. We know with that, we will be able to create a positive impression and we have a proper handle when it comes to building on already gather momentum.
The opportunities available to us are unlimited. Loads of people consume ice creams and frozen yogurts on a daily basis and all what we are going to do to push our products to them is already perfected. There are also loads of people who would want to learn how to make ice cream or frozen yogurt and they will readily find our government approved frozen yogurt and ice cream training center highly ideal for them to fulfill that goal.
The threat that is likely going to confront us is the fact that we are competing with already established ice cream truck companies, ice cream production companies and frozen yogurt stores in Dallas Texas and also there are other entrepreneurs who are likely going to launch similar business within the location of our business.
Of course, they will compete with us in winning over the available market. Another threat that we are likely going to face, is unfavorable government policies and of course economic downturn. Usually economic downturn affects purchasing / spending powers.
Ice Cream Truck Business Plan – MARKET ANALYSIS
- Market Trends
When it comes to frozen yogurt and ice cream et al, everyone will quite agree that the market trend changes from time to time. Ice cream truck / ice cream production companies are seriously researching and creating flavors and varieties that will keep them afloat in business.
Any ice cream production company and frozen yogurt store owner who wants to remain relevant in the scheme of things in the industry must be willing to explore the ‘ice cream world’; he or she must be able to come up with a product that taste unique from what is available in the market.
Another trend is that some ice cream production companies and frozen yogurt stores have gone beyond only selling their products in their stores to taking it out to people in parks, sport centers and public places through vans and mobile food trucks. Some ice cream production and frozen yogurt stores have even gone ahead to start retailing their products to the public through vending machines; it is one of the strategies that is helping them gain a huge market share.
Lastly, technology is a major tool in marketing mobile food and ice cream truck business. As a matter of fact, there are mobile apps that customers can use to track their favorite ice cream truck or food truck. Other strategies that players in this industry adopt is to ensure that their ice cream truck or food truck is well branded, and they are always playing good music on their truck.
The truth is that people naturally get attracted to colorful designs and good music. Players in this industry also network with event managers, they are in a better position to help them increase sales especially when they are involved in outdoor events.
- Our Target Market
When it comes to ice cream and frozen yogurt, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who love ice cream and frozen yogurts and of course those who would want to try it out. This is why we have been able to map out strategic locations all around Dallas where we will position our mobile ice cream truck per time.
In view of that, we have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to engage in wholesale distribution and to retail a wide range of ice cream and frozen yogurt flavors to the following groups of people;
- Corporate Executives
- Government Officials
- Business People
- Military Men and Women
- Sports Men and Women
- Everyone who resides in our target locations.
Our Competitive Advantage
Our aim of starting Ms. Caramel Ice Cream Truck Company® is to build a business that can grow within the first 10 years of establishing the business to be listed amongst the top 5 ice cream truck cum ice cream production companies in the United States of America. With that in mind, we have been able to come up with competitive strategies that will help us compete favorably in the industry.
We are going to be one of the very few ice cream truck companies in Dallas – Texas with vending machines in all our truck.
Another competitive advantage that we have is the vast experience of our management team, we have people on board who are highly experienced and understands how to grow business from the scratch to becoming a national phenomenon.
So also, the wide varieties of ice cream and frozen yogurt flavors et al that we produce, our large national distribution network and of course our excellent customer service culture will definitely count as a strong strength for the business.
One thing is certain, we will ensure that our ice cream truck is well equipped and meet the required standard at all times.
Ice Cream Truck Business Plan – SALES AND MARKETING STRATEGY
- Sources of Income
Ms. Caramel Ice Cream Truck Company® is established with the aim of maximizing profits in the Ice Cream Production cum Ice Cream Trucking industry in the United States of America and we are going to go all the way to ensure that we do all it takes to sell a wide range of ice creams and frozen yogurt flavors to a wide range of customers.
Ms. Caramel Ice Cream Truck Company® will generate income by selling the following products;
- Bulk ice cream
- Novelty ice cream
- Regular retail ice cream
- Frozen fruit pops
- Low-fat and nonfat ice cream
- Frozen yogurt
- Flavored ice
- Other frozen desserts (except bakery)
- Consultancy and Advisory Services
It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field. Below are the sales projections that we were able to come up with for the first three years of operations;
- First Year-: $150,000
- Second Year-: $450,000
- Third Year-: $800,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and the arrival of a competitor in same location as ours within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Before choosing a location to launch Ms. Caramel Ice Cream Truck Company® and also the kind of ice cream flavors to produce, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market in the cities where we intend positioning our business.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time and also for our products to favorable compete with other leading ice cream brands in Chicago – Illinois and the whole of the United States of America.
No doubt, technology is a major tool in marketing ice cream and fast food. As a matter of fact, there are mobile apps that customers can use to track their favorite ice cream truck. Other strategies that we will adopt is to ensure that our ice cream truck is well branded, and we are always playing good music on our truck.
The truth is that people naturally get attracted to colorful designs and good music. We will also network with event managers; they are in a better position to help us increase sales especially when they are involved in outdoor events.
We hired experts who have good understanding of the ice cream production cum ice cream truck industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market Dallas – Texas and throughout the United States of America.
In other to continue to be in business and grow, we must continue to sell our products to the available market which is why we will go all out to empower or sales and marketing team to deliver our corporate sales goals. In summary, Ms. Caramel Ice Cream Truck Company® will adopt the following sales and marketing approach to sell our wide range of ice cream and frozen yogurt flavors;
- Introduce our ice cream brand by sending introductory letters to residence, merchants and other stakeholders both in Dallas – Texas and in other cities in the United States of America
- Open our ice cream production cum ice cream truck company with a party so as to capture the attention of residence who are our first targets
- Engage in road show in targeted communities from time to time to sell our products
- Advertise our products in community based newspapers, local TV and radio stations
- List our business and products on yellow pages ads (local directories)
- Leverage on the internet to promote our ice cream brands
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
Ice Cream Truck Business Plan – Publicity and Advertising Strategy
Despite the fact that our ice cream production plant is a standard one with a wide range of flavors and products that can favorably compete with other leading brands in the United States, we will still go ahead to intensify publicity for all our products and brand. We are going to explore all available means to promote Ms. Caramel Ice Cream Truck Company®.
Ms. Caramel Ice Cream Truck Company® has a long term plan of selling our franchise all around the United States of America which is why we will deliberately build our brand to be well accepted in Dallas – Texas before venturing out to other cities in the United States of America. As a matter of fact, our publicity and advertising strategy is not solely for selling our products but to also effectively communicate our brand.
Here are the platforms we intend leveraging on to promote and advertise Ms. Caramel Ice Cream Truck Company®;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
- Install our Bill Boards on strategic locations all around Dallas – Texas
- Engage in road show from time to time in targeted communities
- Distribute our fliers and handbills in target areas
- Position our Flexi Banners at strategic positions in the location where we intend getting customers to start patronizing our products.
- Ensure that all our staff members wear our customized clothes, and all our official cars and trucks are customized and well branded.
Our Pricing Strategy
When it comes to pricing for products such as ice creams and frozen yogurts, there are no hard and fast rules, the prices depend on the size and packaging. Generally, the prize for ice cream and frozen yogurts and similar products like confectioneries and cupcakes et al are affordable hence there is no need to employ any detailed strategies when it comes to pricing.
In view of that, our prices will conform to what is obtainable in the industry but will ensure that within the first 6 to 12 months our products are sold a little bit below the average prices of various ice cream and frozen yogurt brands in the United States of America. We have put in place business strategies that will help us run on low profit margin for a period of 6 months; it is a way of encouraging people to buy into our brands.
- Payment Options
At Ms. Caramel Ice Cream Truck Company®, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;
- Payment by cash
- Payment via Point of Sale (POS) Machine
- Payment via online bank transfer (online payment portal)
- Payment via Mobile money
In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.
- Start – Up Expenditure (Budget)
When it comes to starting a standard ice cream production and ice cream truck business, one is expected to spend the bulk of the start – up capital on is the purchase of standard and well – equipped ice cream truck. Aside from that, you are not expected to spend much except for purchasing ingredient, paying of your employees and utility bills.
This is the key areas where we will spend our start – up capital;
- The Total Fee for Registering the Business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
- Marketing promotion expenses for the grand opening of Ms. Caramel Ice Cream Truck Company®; in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
- Cost for hiring Business Consultant – $2,500.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The cost for Start-up inventory (raw materials and packaging materials et al) – $9,000
- Storage hardware (bins, rack, shelves, food case) – $3,720
- The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
- Cost for ice cream / yogurt making equipment – $20,000
- Cost for store equipment (cash register, security, ventilation, signage) – $4,750
- Cost of purchase of mobile ice cream truck1 – $50,000
- The cost of Launching a Website – $600
- The cost for our opening party – $5,000
- Miscellaneous – $10,000
We would need an estimate of $200,000 to successfully set up our ice cream truck company in Dallas – Texas. Please note that this amount includes the salaries of all the staff for the first 3 month of operation.
Generating Funding / Startup Capital for Ms. Caramel Ice Cream Truck Company®
Ms. Caramel Ice Cream Truck Company® is a family business that is owned and financed by Dr. Tanya West and Family. They do not intend to welcome any external business partners, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sell of stocks
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
Ice Cream Truck Business Plan – Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If any of these factors is missing from a business (company), then it won’t be too long before the business close shop.
Ms. Caramel Ice Cream Truck Company® will ensure that all the factors listed above are reinforced on a regular basis, we will continue to improvise with our products, come up with pleasant and acceptable flavors and also we will engage in continuous capacity building of our workforce.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more.
We will make sure that the right foundation, structures and processes are put in place to ensure that staff welfare is well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
- Purchase of mobile ice cream trucks: Completed