Gourmet Food Truck Business Plan: A Feasibility Report

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Executive Summary
The business report is presented to provide the framework to select the best idea out of three
different ideas. This report will present the comparison between three different business ideas
and the selection of the best business idea will be made. The business idea chosen for this report
will be the Gourmet Food Truck which is a much needed innovative business plan after
understanding the requirements of the market. There will be described the report on different
points such as the identification of best idea, the improvements in such idea, business canvas
model and the cash flow estimates for the first two years.
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Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................5
Evaluation of Idea............................................................................................................................6
Idea Selection...................................................................................................................................8
Improvements..................................................................................................................................9
Reviewed business model..............................................................................................................10
Cash Flow Projections...................................................................................................................12
Conclusion.....................................................................................................................................15
References......................................................................................................................................16
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Introduction
The main purpose of this report is to select the best idea to pitch in front of the investors and
raise the investments for such business plan execution. The best idea introduced in this report
will be regarding the food truck which will be supplying the healthy Chinese and Italian Cuisine
which will stop the excessive consumption of the unhealthy street food. This report will provide
certain numbers of the necessary improvements in such business plan. This will be a new
concept and there will be no much competition in the market for such business.
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Evaluation of Idea
Category Idea 1: Back
Massager
Idea 2: Gourmet
Food Truck
Idea 3: Electric
Scooter
Profitability This idea of the back
massager may bring
the benefits for the
company in the long
term. There will be
made the huge
investments in such
business idea but the
benefits may be less.
This idea is a great
business plan as it
may bring several
numbers of the
benefits for the
business in monetary
and environmental
sustainability form.
This food truck will
provide the healthy
food and there will
not be any
competitors in the
market (Olsen &
Mitchell, 2017).
There will be lesser
profitability of such
business idea because
this is not a new idea
and there are already
so many competitors
exist in such market.
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Acceptability The market and the
customers segment
will easily accept such
idea. There might be
some problems at the
end of investors as
they might not make
the investments in
such business pitch.
This idea will be
accepted widely by
the investors as well
as the market because
such business idea is
unique and this is
much needed due to
the increasing trend of
the street food.
There is already so
mach high advanced
scooters and vehicles
available in the
market hence there
will be lesser
acceptance of such
business idea.
Problem
identification
There is being
identified the problem
of back pain due to
the increased work
pressure at the offices.
This problem required
the solution for such
this business idea has
been developed.
In this case, the
problem is identified
regarding the over
consumption of the
unhealthy street food.
It has increased the
demand of the healthy
food chain. The
customers are
required to consume
healthy food to avoid
the health related
issues.
The problem is
increasing of pollution
due to the heavy body
structure of the motor
bikes and other
vehicles. This new
vehicle will be easier
to ride and manage.
Solution to the
problem
The problem
identified can be
solved to a great
extent by adopting the
business idea of Back
Massage. The
There is being
discussed the problem
regarding unhealthy
food which is required
to be solved through
taking up a business
The problem of the
heavy weight vehicles
and the pollution
increasing transport
can be solved through
such electric vehicle
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problem can be solved
through the beck
massager through
providing such service
on affordable prices.
idea of the Gourmet
Food Truck which
will supply the
healthy food items
(Auad, et, al., 2018).
idea.
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Idea Selection
The idea selected for such report is the idea of Gourmet Food Truck as it is considered as the
best idea out of all the other ideas. There is need of selecting such idea which can be accepted by
the investors and they can be ready to make the investments (Rivolli, et. al., 2018). This idea will
generate the maximum benefits for the general public or the community as well as the business
itself. There will be analyzed the benefits of such idea before selecting such idea. Following are
some of the benefits of such idea which have been considered while selecting such idea:
 The problem of unhealthy food consumption will be solved.
 It will bring the benefits for the company as the profits will be increased.
 This is a new concept hence there will be lack of competition in the market.
 The investors will also invest in such business idea where the profits and earning can be
maximized (Irvin, 2017).
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Improvements
As states above that the business idea is the best business idea in which the investors can make
ready investment, it is important that some changes are implemented in the current business idea.
It is important that the target customers are attracted using a suitable marketing and advertising
technique. The custoerms must be made aware about the food truck by way of pamphlets and TV
advertisements. Social media is on hike now-a –day’social media platforms can also be used for
the marketing of the food truck (Powers, et. al., 2012). The company must make people and the
target customers aware about the advantages of the new business idea that they have generated
and about all types of cuisines that they are making available to the target customers. There is a
strict need to alter the budgets of the product development and selling prices of the products. The
customers are price sensitive so it is important that the prices of the food items are kept low. The
company can use the strategy of price penetration. This will help the company to build customers
loyalty and help to attract more and more customers. The alteration in the budgets will also make
the business idea more profitable for the investors.
This might be possible that the competitors also adopt the same strategy so the business required
formulating some competitive strategies so that the competitors can be beaten and profits are
earned.
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Reviewed business model
Key Partners
 Local farmers
 Employees
 Food truck
manufacturer
s
 Wholesale
distributors
 Waste
management
company
Key Activities
 Establishment
& promotion
of brand
 Developing
relationships
with customers
 Providing
customized &
eco-friendly
products
Value Proposition
 Delivering
healthy & fresh
products
 Affordable prices
 Hygiene
 Faster service
 Higher level of
consistency
 Availability of
customized
options for
customers facing
diabetes , heart &
health problems
 Service that
creates time and
place utility.
Customer
Relationships
 Personal
assistance
 Understandi
ng their
needs &
demands
 Understandi
ng the
improvement
areas.
Customer
Segments
 Local
people
 Professio
nal
customer
s
 Health-
consciou
s people
 Students
&
children
 People
who love
gourmet
products
Key Resources
 Human
resources
 Physical
resources
 Financial
resources
Channels
 Online social
media
applications
such as
Facebook &
instagram
 Emails &
messages
 Print and
visual media
Cost Structure
• Legal documentation
• Marketing & advertising
• Salaries to employees
Taxes.
Procurement of a truck and conversion into a kitchen
Revenue Streams
 Particular percentage of
each meal sold
 Promotional revenues
 Sale to the target
customers
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