FOOD TRUCK BUSINESS PLAN
Business Plan
April 8, 2015
TABLE OF CONTENTS EXECUTIVE SUMMARY 3
MANAGEMENT TEAM 5
ORGANIZATION PLAN 6
PRODUCT/SERVICE DEVELOPMENT PLAN 6
INDUSTRY ANALYSIS 7
OPERATIONAL PLAN 10
MARKETING PLAN 12
GROWTH PLAN 14
CONTINGENCY PLAN 15
FINANCIAL PLAN 16 FINANCIAL RATIOS 17 BREAKEVEN ANALYSIS 18
FINANCIAL GROWTH PLAN 19
REFERENCES 20
APPENDIX 21 START-UP FUNDS 21 SALARIES AND WAGES 22 FIXED OPERATING EXPENSES 23 PROJECTED SALES FORECAST 24 CASH RECEIPTS AND DISBURSEMENTS 25 INCOME STATEMENT 26 CASH FLOW STATEMENT 27 BALANCE SHEET 28
Executive Summary
The food truck industry is booming and more trucks are popping up all over the nation. Grand Rapids is one area in Michigan where this industry is really taking off. Over the past few years more trucks have been seen in the Grand Rapids area, serving multiple classes various kinds of delicious and affordable food. The Smitten Mitten will be joining other local food trucks this summer in the downtown streets of Grand Rapids. This new venture is made up of three current employees; the owner, head chef and sous chef. Cassondra is the CEO of The Smitten Mitten, and has hired Jess as the head chef and Torey as the sous chef. Cassondra has over four years in the food and beverage industry, and has advanced business management and communication skills. Jess has over six years of experience in the restaurant business, and Torey has just over four years of experience working in the kitchen as a prep chef.
General management, sales, marketing and food preparation are all well-covered with the current staff. Future positions needing to be filled are an account and financial manager. The long-term goal is to hire these positions directly into the business. The hiring process may take a an extended amount of time due to the fact that the best needs to be hired. Applicants will be interviewed for the positions and must have a minimum of 5 years of experience and hold at least a bachelor’s degree in
April 8, 2015
TABLE OF CONTENTS EXECUTIVE SUMMARY 3
MANAGEMENT TEAM 5
ORGANIZATION PLAN 6
PRODUCT/SERVICE DEVELOPMENT PLAN 6
INDUSTRY ANALYSIS 7
OPERATIONAL PLAN 10
MARKETING PLAN 12
GROWTH PLAN 14
CONTINGENCY PLAN 15
FINANCIAL PLAN 16 FINANCIAL RATIOS 17 BREAKEVEN ANALYSIS 18
FINANCIAL GROWTH PLAN 19
REFERENCES 20
APPENDIX 21 START-UP FUNDS 21 SALARIES AND WAGES 22 FIXED OPERATING EXPENSES 23 PROJECTED SALES FORECAST 24 CASH RECEIPTS AND DISBURSEMENTS 25 INCOME STATEMENT 26 CASH FLOW STATEMENT 27 BALANCE SHEET 28
Executive Summary
The food truck industry is booming and more trucks are popping up all over the nation. Grand Rapids is one area in Michigan where this industry is really taking off. Over the past few years more trucks have been seen in the Grand Rapids area, serving multiple classes various kinds of delicious and affordable food. The Smitten Mitten will be joining other local food trucks this summer in the downtown streets of Grand Rapids. This new venture is made up of three current employees; the owner, head chef and sous chef. Cassondra is the CEO of The Smitten Mitten, and has hired Jess as the head chef and Torey as the sous chef. Cassondra has over four years in the food and beverage industry, and has advanced business management and communication skills. Jess has over six years of experience in the restaurant business, and Torey has just over four years of experience working in the kitchen as a prep chef.
General management, sales, marketing and food preparation are all well-covered with the current staff. Future positions needing to be filled are an account and financial manager. The long-term goal is to hire these positions directly into the business. The hiring process may take a an extended amount of time due to the fact that the best needs to be hired. Applicants will be interviewed for the positions and must have a minimum of 5 years of experience and hold at least a bachelor’s degree in
References: Ehrlich, T. (2015). Mobile Food Vendors. Retrieved from SBDCNet: http://www.sbdcnet.org/small-business-research-reports/sbdcnet-connections-issue-55-mobile-food-vendors Ellison, G Lake, L. (2015). What is branding and how important is it to your marketing strategy? About Money: Marketing and Brand Strategy. Retrieved March 10, 2015, from http://marketing.about.com/cs/brandmktg/a/whatisbranding.htm Myrick, R Product differentiation. (2015). Business Dictionary: Web Finance. Retrieved March 11, 2015, from http://www.businessdictionary.com/definition/product-differentiation.html Sonnenshein, M