Food Truck Business Plan Template
Writing out a food truck business plan template is one way to explain your plan to potential investors. Investors, of course, will need to understand your business’s viability as well as your projections for success. In this article, we’ll highlight a food truck business plan template and show why writing out a food truck business plan template is so important. Before you do anything else, make sure that you’ve actually created a food truck business plan template yourself – one that you can be proud of! Here’s what you need to know…
Investors want to see that you have done your homework and know what you’re doing. The food truck business plan template you create should be able to clearly illustrate your projections for profits and loss, as well as your financial projections. Make sure that your financial assumptions about customer spending are realistic. Remember, most investors will look for a company that is projecting fast growth and high profit margins. This means your food trucks will have to be popular with customers within a very short amount of time – definitely not the ideal situation to find yourself in when you first start out.
Another important thing that an investor will want to see is an executive summary. In your food truck business plan template, include an executive summary page, which outlines your business goals and objectives. This section should be no longer than one page, single spaced, without fancy graphics or fonts. Your headline should be the first sentence in your executive summary, as it will be the page that the majority of potential investors will be looking at.
Now, let’s talk about the other two main sections of an executive summary. The first section should discuss your mission statement. In the food truck business plan template I suggest including a few bullet points about what your company does. Just be sure that the bullet points tell people exactly what you do. Don’t be too vague, but don’t be so broad that you leave out critical details that could affect how investors to fund your company.
Next, there should be a couple pages dedicated to your financial projections. In your food truck business plan template I recommend including a table showing projected sales and expenses over the next three years. You need to keep this fairly short because you’ll want to be able to easily compare your current cash flow situation with your projections. The first few years may seem bleak, but if you carefully study your numbers you should quickly see that your projected numbers are very conservative. In fact, you should probably be happy with where you are now.
The third section should be about your social media strategy. If you are a relatively new food truck entrepreneur then you should already have some social media accounts up and running, and hopefully you will soon be gaining traffic from all of those posts. If not, at least you should have accounts set up for the major networking sites that you can use to promote your business.
The fourth section should be about your finances. This is where you can really show others what you can do for them if they choose to back you. Include a table comparing your startup costs to those of the competition in your field. If you find that yours is less expensive, then you should be able to persuade potential investors that it’s better to spend a lower dollar on your food truck than the competition. Include a slide show of your costs, but leave the audience to judge for themselves just how expensive you are.
The fifth and final part should be about your legal aspects. This is the section that gives other investors the chance to learn more about you and what you are doing. Start by including information about your location, legal documents, sales tax identification numbers, business insurance, and other things that might be of interest to others. Always include information about the liability limits on the food trucks you are selling, as well as other safety measures that you take to ensure customers are not harmed while they are eating your food.