Food Truck Business Plan in the UK

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Food Truck Business Plan in the UK
Student’s Name
Institutional Affiliation
Course Name and Number
Instructor’s Name
Assignment Due Date

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Executive Summary
A food truck is a large motorized vehicle that works the same way as a van. The food
truck sells, serves, prepares, and cooks food. Hasty Tasty Food Truck will be located in London
in the United Kingdom, and the exact location will differ depending on the events and activities
being conducted in the city. The most common foods that the food truck will make are
sandwiches, hamburgers, French fries, and tacos. The customers expected will be between the
ages 19 and 35 years, and they are explorative and spend more time interacting with their friends
and other people. The business will be at a competitive advantage over other food trucks like
Scotties Coffee Van, Luardos, Kappacasein, The Veggie Table, and Small Batch Coffee since its
process will be lower than that of its competitors. Its advertising method involves using social
media and flyers, while its sales tactics will involve upselling and changing the existing
customers into promoters. Hasty Tasty Food Truck Business is expected to become successful in
the next three years since it will register more profits than losses.
Contents
Executive Summary.....................................................................................................................................2

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Introduction.................................................................................................................................................4
Company Description..................................................................................................................................5
Business Overview...................................................................................................................................5
A brief explanation of the product(s) or service(s) offered......................................................................5
Vision.......................................................................................................................................................6
Mission....................................................................................................................................................6
Objectives................................................................................................................................................6
Unique Benefits or Value Proposition......................................................................................................7
Intellectual Property................................................................................................................................7
Opportunities, Analysis, Research and Marketing Plan...............................................................................8
Customers................................................................................................................................................8
Market Size and Trends............................................................................................................................8
Competition and competitive Edges........................................................................................................9
Estimated market share and sales...........................................................................................................9
Overall marketing strategy.....................................................................................................................10
Pricing....................................................................................................................................................11
Sales tactics...........................................................................................................................................11
Advertising and Promotion....................................................................................................................12
Distribution............................................................................................................................................12
Management Team, Company Operations and Structure..........................................................................13
Organizational Chart..............................................................................................................................13
Role of Team Members..........................................................................................................................13
Skills, qualifications, training needs, and effects that are used for the best interests of the business...14
The Financial Plan......................................................................................................................................14
Budget Overview...................................................................................................................................14
Balance Sheet........................................................................................................................................16
References.................................................................................................................................................18

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Food Truck Business Plan in the UK
Introduction
A food truck is a large motorized vehicle similar to a van that is filled with equipment to
sell, serve, prepare and cook food. A good example of a food truck is an ice cream truck, it has
prepackaged and sold frozen foods. The most common foods prepared in the food trucks are
French fries, hamburgers, and sandwiches. Street food has been trending in the United Kingdom,
and food companies have been part of the trend by feeding the people's growing desire for artisan
foods. The future of food trucks and mobile catering startups is bright because the industry is a
mobile, flexible, and affordable entry (Koay et al., 2023). Besides, the business has some risks
since a lack of research, planning, and dedication could kick the company out.
Most people prefer eating in food truckles to traditional restaurants since it creates a
whole new experience. The food trucks have been linked to the preparation of new and unique
foods that are very delicious. The operation of the food trucks is also fast, and time wastage is
minimized (Loh & Hassan, 2021). Nevertheless, the costs of starting a food truck business are
relatively low. The operational costs are also low because when one invests in the kitchen
utensils, paying the employees, and the property rent, he can easily start the business without
much expense.
The food trucks are also safer and provide healthier foods to the customers when
compared to alternative street foods. People worldwide have become health conscious, and food
trucks assure that they are eating healthy and safe food (Shin et al., 2019). Food trucks allow
people to expand their brand since they can move it from one place to the other around a nation
and from one city to another, making it famous and attracting more customers from different
places.