Free Food Truck Business Plan Template

Related:

• 6 Steps on how to write a standard business plan template
• Business Plan Template

Executive Summary

Business Overview

Donut Dave’s Food Truck is located in Providence, Rhode Island, run by famous local baker and chef Dave Dagger. Dagger is not only locally popular but has earned critical acclaim for his delicious donut-based creations and coffee beverages.

Donut Dave’s menu will feature popular baked goods such as bagels and bagel sandwiches, donuts and donut sandwiches, egg dishes, and espresso drinks. Chef Dagger’s fresh take on trendy breakfast foods makes him a favorite in Providence, where his brick-and-mortar store is located. The baker’s talents are rapidly making him famous not only in the city of Providence but throughout New England. Providence foodies are loyal to his breakfast menu, and the new food truck is expected to create a buzz among college students and young professionals.

Donut Dave’s will be located in the West End, next to other popular food trucks and close to where many young people live and work. As a result, chef Dagger will receive excellent exposure in this part of the city, thanks to its heavy foot traffic, affordable housing, and proximity to bars, restaurants, and other entertainment options. Add in Dave’s popular social media posts that feature his dishes accompanied by music, and there is excellent potential for Donut Dave’s to do a lot of quality business.

Products Served

The following are the products that Donut Dave’s food truck will offer.

• Artisan donuts
• Bagel sandwiches
• Donut sandwiches
• Veggie Sandwiches w/ Egg
• Home fries
• Bacon, ham, and sausage
• Assorted espresso and coffee drinks

Donut Dave’s Food Truck will target Providence customers who live, work, or socialize near the West End. This area is frequented by many young professionals, college students, and a late-night crowd who regularly frequent food trucks. Therefore, the main target for Donut Dave’s is everyone who seeks popular dining options in this area.

Management Team

Chef Dave has spent over 15 years in the restaurant industry. So he is familiar with the long hours it takes to succeed in the business. After attending culinary school in Boston, he returned home to Providence to become part of the recently rising food industry. Chef Dave worked under two award-winning chefs, Sam Stone of TV’s Top Chef fame and Paul “Pepperoni” Zigler. After working diligently for others, Chef Dave is ready to create a food truck venture.

Chef Dave Dagger will exclusively own and operate the food truck. The hours he has established for the car are Monday through Saturday from 8 am to 10 pm. Along with Dagger, two part-time chefs will help out during peak times. Donut Dave’s specializes in selling breakfast all day, making him popular with consumers who want to enjoy breakfast specialties for lunch and dinner.

Success Factors

Donut Dave’s Food Truck plans to set itself apart from the rest of the competition in these ways:

-Excellent, fresh food made with local ingredients and creative flair.

-All-day breakfast options that other trucks cannot offer.

-Location in the West End, a living space for college students, lovers of nightlife, and busy young professionals who ride public transport or walk to work.

-Inexpensive but filling options

Financial Highlights

Donut Dave’s seeks $35,000 in financing to make this venture possible. The amount will be used to purchase the truck, cooking equipment, and supplies. The $35K will also be used as working capital for payroll expenses and inventory. Here is the breakdown of anticipated spending:

• Used Food Truck: $15,000
• Kitchen supplies and equipment – $10,000
• Inventory: $2,500
• 3 Months Working Capital: $2, 500
• Marketing (website design, advertising) – $5,000

Company Overview: What is Donut Dave’s Food Truck?

Donut Dave’s Food Truck is a startup food truck business located in Providence, Rhode Island. Chef Dagger’s menu offerings are unique breakfast-style sandwiches and side plates emphasizing fresh, local cuisine. The truck primarily does business in Providence’s West End but also attends some food truck festivals in New England.

Chef Dagger’s ingredients, such as eggs, vegetables, and meats, are locally sourced from artisans and farmers in Rhode Island. The original recipes combine a flair for invention with traditional breakfast dishes. The result is delicious, filling, inexpensive sandwiches and egg dishes that are healthy and satisfying.

Donut Dave’s Food Truck is run by Dave Dagger, a local Providence chef who attended culinary school in Boston. Chef Dagger is known for his originality, unique style, and speed in the kitchen. Dagger’s delightful dishes have already garnered acclaim in the restaurants he worked, and the chef’s idea for “all-day breakfast” is bound to explode in popularity.

Donut Dave’s Food Truck Interests and Goals

After graduating from culinary school in Boston in 2007, Chef Dave Dagger worked in three different restaurants in Providence, two of which were famous for their brunches. Dagger had the chance to learn from and train under acclaimed, award-winning chefs, and his mastery of flavors and new styles was cultivated.

Chef Dagger has made a name for himself in Providence and now feels the time is right for him to start his own business. Since starting a brick-and-mortar restaurant costs remains high, Chef Dagger decided that a food truck business selling some of his most famous dishes would be the best and most cost-effective bet.

After incorporating, Donut Dave’s has accomplished the following goals:

-Developed an original logo/branding image, created social media accounts with solid followings, and created a website.

-Has purchased a used food truck that runs well.

-Has come up with a simple yet intelligent menu.

-Has obtained the necessary permits and licenses to park and operate a food truck in Providence’s West End and throughout the city.

-Has procured a sales and tax permit.

Donut Dave’s Food Truck Products

The following are the products that Donut Dave’s food truck will offer.

• Artisan donuts
• Bagel sandwiches
• Donut sandwiches
• Veggie Sandwiches w/ Egg
• Home fries
• Bacon, ham, and sausage
• Assorted espresso and coffee drinks

Industry Analysis

It is anticipated that food truck businesses will continue to earn well over the next 4-6 years, based on consumers’ willingness to spend their money on gourmet food options. During this period, food truck revenues are expected to increase to nearly $1.4 billion as overall favorable economic conditions and the rising gourmet food truck movement stimulate growth.

Customers these days desire high-quality food, a wide range of tastes and styles, exciting presentations, and healthy options. Over the next 4-6 years, the desire for healthy options is expected to grow, so food trucks with some lighter options on the menu will be better suited for success. Likewise, food truck vendors that offer intriguing, trendy options will be in a strong position significantly if they can develop a loyal customer base intent on returning.

The food truck industry will also benefit from an expected increase in the urban population, which will comprise most of the US population in 5-6 years. The food truck industry relies on foot traffic, and urbanites are more likely to buy daily or nightly meals instead of cooking. This is based on their above-average incomes and limited spare time.

Customer Analysis: Profile of Target Market

Donut Dave’s Food Truck will frequently target the Providence population who dines in the West End. Chef Dagger will set up his business in a young, hip neighborhood full of young professionals and home to many eclectic dining establishments. The West End is also home to bars, clubs, nightlife, and additional food trucks. The target market for Donut Dave’s Food Truck comprises college students and young professionals with disposable incomes.

Customer Segmentation

Donut Dave’s Food Truck will generally target customers who are:

• College or graduate students in search of quick, trendy, delicious meals.
• Providence locals are out bar-hopping or on their way to work in the morning.
• Young to middle-aged professionals working in the West End neighborhood and adjoining area are lawyers, medical workers, insurance agents, and teachers.

Competitive Analysis

Donut Dave’s Food Truck will compete with other local food trucks in the Providence community. A profile of each competitor is below.

Pretzel Police

Pretzel Police is a local Providence favorite of foodies and college students alike. In the West End of Providence near Federal Hill, Pretzel Police serves pretzels of every flavor and every topping to the late-night crowd. Famous for its spicy sauces and unconventional gourmet pretzels, this popular spot sources local ingredients and is constantly experimenting. One of their most popular pretzels is closer to a pepperoni pizza than a traditional pretzel twist, and they also serve homemade smoothies, t-shirts, and hats.

Chowder & Clams

A few years ago, Chowder and Clams capitalized on the seafood craze by entering the food truck game. As opposed to more traditional food truck fare, Chowder and Clams offer oysters, clams, assorted raw bars, lobster rolls, chowder, and clam cakes to the masses. Chowder and Clams sources all seafood in-state from local fishing boats, and their state-of-the-art refrigeration means that everything is served cold and fresh. A hot spot for working lunches and dinners, Chowder and Clams also serves non-alcoholic beer, a variety of seltzers, juices, and house-made desserts. The popular food truck has existed for five years, and there are plans to grow the business and open a brick-and-mortar shop soon.

Competitive Advantage

Donut Dave’s Food Truck has notable advantages over the competition.

• Unique, tasty cuisine made fresh with locally sourced ingredients.
• An eclectic breakfast-all-day menu that does not exist elsewhere.
• Convenient location: Donut Dave’s Food Truck will be located in a highly-trafficked neighborhood frequented by college students, young professionals, and those enjoying the city’s nightlife.
• Inexpensive pricing. Donut Dave’s food items will be cheaper than many of the other items sold by other trucks without sacrificing quality.

Marketing Plan

Donut Dave’s Food Truck will offer a uniquely valuable opportunity to its clients.

• Tasty culinary creations made with fresh local ingredients.
• Delicious breakfast all day long without breaking the bank. Chef Dagger’s offerings will be accessible to customers who enjoy gourmet food for an affordable price.

Promotions Strategy

Social Media

Donut Dave’s Food Truck’s main marketing outlet will be social media. Chef Dagger has over 6,000 Instagram followers and is highly skilled at taking photographs and videos of his donut and bagel-based creations. Chef Dagger is also keen to expand his presence on Twitter and Facebook.

Location

Donut Dave’s Food Truck will be parked in Providence’s popular, vibrant West End neighborhood. There are only two main food trucks in this area, so competition should not be too difficult, especially since neither truck serves donuts, bagels, or coffee. In addition, the West End is home to trendy bars, hip music venues, and excellent restaurants with flavors worldwide. In the West End, Donut Dave’s Food Truck will be exposed to foot traffic during the morning, afternoon, and night.

SEO Marketing

Donut Dave’s is looking forward to investing in a strong SEO presence. Part of their comprehensive marketing plan is to ensure they appear in the top three results when people search for “food trucks in Providence” or “breakfast in Providence.” Donut Dave’s website will also feature photos, the menu, and contact information.

Third-Party Delivery Sites

Donut Dave’s looks forward to doing business with Uber Eats, Doordash, and GrubHub. So those who want their bagel sandwiches, home fries, and coffee delivered in the morning or at night will be covered.

Pricing

The pricing of Donut Dave’s Food Truck will be inexpensive and slightly lower than its competitors since Chef Dagger uses local ingredients and does not need to buy any fresh seafood or too much meat.

Operations Plan

The operations plan for Donut Dave’s Food Truck is simple since the business has both low costs and low overhead. The employees’ roles are as follows:

• Chef Dagger will manage the operation of the food truck. He will oversee inventory, menus, advertising and marketing, customer service, and bookkeeping. Every day the food truck opens, Chef Dagger will be there. The hours will be Monday through Saturday from 8 am to 10 pm.
• Two part-time cooks will be there to help Chef Dagger, working on alternating days. If needed, based on business, the cooks will work simultaneously under Chef Dagger.

Goals and Milestones

For this venture to succeed, the following goals must be met:

9/1/2022 – Purchase the food truck

9/15/2022 – Finalize menu

10/1/2022 – Commence marketing and advertising campaigns

10/15/2022 – Finish cleaning the truck and prepare it for opening

11/1/2022 – Purchase inventory, stock truck, park it in the West End in chosen/agreed upon spot

11/10/2022 – Grand Opening of Donut Dave’s Food Truck.

Management Team

Donut Dave’s Food Truck will be owned and operated by Dave Dagger

Chef Dave Dagger, Owner

Chef Dave Dagger is a Providence native who attended culinary school in Boston and returned to Providence to become a part of the rising food scene. Chef Dagger was trained under two different chefs at fine establishments in downtown Providence and was awarded Best Breakfast Chef / Donut Maker in Providence in 2020.

Chef Dagger has received multiple awards and honors for his creativity and his menu’s offbeat yet sublime tastes. He is also renowned for his quality ingredients, the speed with which he prepares them, his reliance on local farms, and his cuisine’s affordability.

Financial Plan

The revenue drivers for Dusty Dave’s Food Truck will come from the daily menu items.

The cost drivers will be the products needed to make the donuts and other menu items, as well as cooking accessories such as pots and pans. The additional cost for drivers will be staff payroll and truck expenses, such as gas and propane.

Funding Requirements and Use of Funds

Donut Dave’s Food Truck is seeking $35,000 in debt financing for the new food truck.

Here is the breakdown of anticipated spending:

• Used Food Truck: $15,000
• Kitchen supplies and equipment – $10,000
• Inventory: $2,500
• 3 Months Working Capital: $2, 500
• Marketing (website design, advertising) – $5,000

Valuable Assumptions

To pay off the loan and achieve the revenue goals, the business must average at least 45 initial customers daily.

Initial Number of Customers Per Day: 45

Average Cost of Menu Item: $8.75

Average Order per Customer: $13.50

Annual Cost for Maintenance of Truck: $9,400

We hope that this template show entrepreneurs how to effectively start and manage a food truck business. Good luck!