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How to Write a Food Truck Business Plan: Complete Guide

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  • January 3, 2023
  • Food & Beverage

food truck business plans examples

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your food truck, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in the business plan of your food truck . Use this template to create a complete, clear and solid business plan that get you funded.

1. Food Truck Executive Summary

The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.

If the information you provide here is not concise, informative, and scannable, potential lenders and investors will lose interest.

Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire plan.

Why do you need a business plan for a food truck?

The purpose of a business plan is to secure funding through one of the following channels:

  • Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
  • Obtain private investments from investment funds, angel investors, etc.
  • Obtain a public or a private grant

How to write your food truck’s executive summary?

Provide a precise and high-level summary of every section that you have included in the business plan of your food truck. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately.

Also make sure that the executive summary doesn’t exceed 2 pages in total: it’s supposed to be a summary for investors and lenders who don’t have time to scroll through 40-50 pages, so keep it short and brief.

The executive summary usually consists of 5 major sub-sections:

  • Business overview : start by introducing your food truck, its concept, menu and prices. Also add here where the food truck will be located (if static vs. mobile ; events vs. next to business / corporate centers) and the type of customers you will serve such as working individuals, teens, etc.
  • Market analysis : summarise the market where you will operate and provide a brief about the target audience, market size, competitors, etc. No need to provide granular data here, save it for the Market Overview section later on (or the appendix). You must provide only scannable data points to keep potential investors and/or lenders hooked.
  • People : introduce your food truck’s management and employee structure. Provide a brief (no more than a couple of sentences each) of the knowledge and experience of the team. Also, speak about your hiring plans.
  • Financial plan : how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? You can include here a chart depicting your key financials such as revenue, gross profits, and net profit
  • Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last?

food truck business plans examples

Food Truck Financial Model

Download an expert-built 5-year Excel financial model for your business plan

2. Food Truck Business Overview

In this section, you will provide additional details about your food truck and explain why you chose the specific food truck idea. 

Your aim must be to answer some of the most important questions that your potential investors and/or lenders will ask. 

Here is a small list of such questions that you must address in the business overview segment:

  • What is the rationale behind you opening a food truck today?
  • What’s the food truck’s concept / menu and why did you select that one?
  • What made you select that specific food truck idea?
  • Who is your target audience?
  • Where will the food truck be located? Will it be mobile or static?
  • Will you cater events (e.g. concerts, festivals) or will it be a street food truck instead (next to offices for example)?
  • What will be the legal structure of your company?

Let’s look at different subsections that you must include:

a) History of the Project

Any business must have two components:

  • Passion & experience of the business owner
  • Rationale behind starting this type of business today

Passion & experience

It is not necessary to have any prior experience with a food truck. As long as you are passionate about it and you know your market, you are good to go. 

However, if you have any experience, make sure that you are mentioning that. For example, you may have been a server or an operator in a food truck for 7 years and now you want to open your own food truck business.

No matter what, ensure that you demonstrate not just passion but also some industry knowledge that you must garner through thorough research.

Every business has a rationale behind its existence. What’s yours? Are you going to solve some problems that exist in the current food truck business scene? 

For example, there may be a rising demand for Thai food in your proposed area of operation but there are no food trucks offering Thai food. Thus, opening a Pad Thai Truck will allow you to cater to the rising demand.

You must also ensure that the market is conducive for the business to exist. For instance, if you are trying to sell expensive items to people who usually buy affordable food from food trucks, it doesn’t make sense. Thus, all your offerings must serve the existing needs.

food truck business plans examples

b) Business Model

This is where you will talk about the business model and the type of food truck you want to open. Some points that you need to briefly describe include:

  • Will you buy a new food truck, or will you buy an old one and remodel it?
  • Will you open a food truck, a food cart, or a food trailer?
  • What equipment, technologies, and tools will you need to operate your food truck?

What are the different types of food trucks?

There are three types of food trucks that you can open:

  • Food Trailer : These are the largest of all and they can be up to 53 feet long. Food trailers can house full-sized restaurant equipment, cooking staff, and cleaning equipment.
  • Food Cart : These are the smallest types of food trucks and usually have very few appliances. The appliances are usually small. They can house 1-2 staff members.
  • Food Truck : These are the standard trucks that can be up to 26 feet long. They can house 1-3 cooking staff and usually require space-saving storage, countertop cooking equipment, etc.

The type of food truck you want to use will depend on the type of food you want to sell.

One thing that you must remember is that the type of food truck that you want to open must have enough target audience. 

For example, if people in your operational area prefer to buy hot dogs and donuts from food trucks, trying to introduce a food trailer offering community kitchen dishes will not appeal to people.

food truck business plans examples

c) Products & Services

Of course, the food items that you will sell through your food truck will depend on the concept of your food truck and the relevant demand in the area.

Here are a few popular food truck concepts that you can consider:

  • Vegan Food Truck : These trucks sell plant-based food items.
  • Street Food Truck : These trucks sell food that is eaten right away. Some examples include pierogi, sliders, bahn mi, etc.
  • Donut Truck : Well, they sell donuts and are more popular during breakfast hours.
  • Pork Truck: They sell a wide range of food products made of pork such as pork ribs, pork sliders, bacon, etc.
  • Fried Chicken Truck: Chicken legs, tenders, wings, etc. are common stuff sold through these trucks.
  • Seafood Truck: These food trucks are more popular in the coastal regions where they can offer fresh catch. Of course, the menu can be massive or offer just a few items.

Thus, the food items you will sell will depend on the food truck concept. Since food trucks’ menus are typically rather limited (a few options only), it’s good practice to simply add here the menu list to your potential investors or lenders so they get a pretty good idea of your menu and concept.

d) Pricing Strategy

Your pricing strategy will depend on various factors like the type of food you will sell, the type of raw materials you will source, the special modifications you make, the packaging and serving material you will use, etc.

While it is possible to have a significant variation in your prices compared to your competitors, you must still ensure that the price variation is not significant. 

If you are charging more for similar products than your competing food trucks charge, there must be a proper justification.

Present a pricing chart for all the menu items that you intend to sell. Yes, it is possible to list all items with their prices because a food truck usually doesn’t sell too many products.

Offering a pricing table is important here as it will allow investors to tie your pricing strategy with your financial projections later on (see “Financial Plan” below).

food truck business plans examples

e) Legal Structure

Finally, your business overview section should specify what type of business structure you want. Is this a corporation or a partnership (LLC)? Who are the investors? How much equity percentage do they own? Is there a Board of Directors? If so, whom? Do they have experience in the industry?

3. Food Truck Market Overview

A complete understanding of the market where you want to operate is important for the success of your business.

For example, if you intend to open a vegan food truck and partner with breweries & wineries to supply food to their guests, you will most likely fail: indeed, a Danish study found that people usually prefer non-vegetarian food along with alcohol.

It is vital to understand your target market and audience, your competitors, growth potential, etc. before you start a business. A food truck business is in no way different.

Therefore, you must cover 3 important areas here:

  • Market trends : how big is the food truck industry in your area? What is its growth rate (or decline rate) and what are the factors contributing to its growth or decline?
  • Competition overview : how many competitors are there? How do they compare vs. your business? How can you differentiate yourself from them?
  • Customer analysis: who is your target audience? What type of food trucks do they prefer? When do they usually buy from food trucks? Do they display any seasonal behavior towards food preferences? What is their average spending on food trucks? Do your potential customers really want the food you intend to sell?

a) Food Truck Industry Status Quo

How big is the food truck industry in the US?

As per IBISWorld , the food truck industry in the US stands at $1.2 billion in 2022.

The industry is quite recent and has been literally exploding over the past 10 years: the industry grew on average at 6.4% per year from 2017 to 2022. In other words, the food truck industry doubled from $600 million to $1.2 billion in just 10 years..!

Also, there are 35,000 active food trucks in the US .

food truck business plans examples

On average, food trucks generates sales of about $250,000 to $500,000 per year , or $20,000 – $42,000 per month. Another recent US study from FoodTruckEmpire was a bit less optimistic and showed that only 50% of food trucks generated more than $100,000 in sales per year.

How big is the food truck industry in your area?

Once you provide the overall picture of the US, divert your attention to the area where you want to operate. It might not be possible to find region or area-specific studies, and hence, you must estimate the size. Read our article on how to estimate TAM, SAM and SOM for your startup.

For example, based on the data above we can assume that on average food trucks generates around $250,000 in sales per year.

Therefore, if there are 20 food trucks in the location where you want to operate, you can assume that the food truck industry in your area is worth approximately $5 million .

How fast is the food truck industry growing in the area?

You must show the expected growth rate of the food truck industry in your area. Whilst, this information may not be available online you can easily assess your area’s food truck industry growth rate.

Indeed, you can use the number of food trucks as a proxy. For instance, if there were 17 food trucks in 2020 and 20 food trucks in 2022, the average annual growth rate is ~8%, not too far from the US national average (6.4%).

Note: if you area’s market growth rate is significantly lower or higher than the national average, try to check your assumptions and calculations first. Then, if all is correct, try to find an explanation: a growth higher than the US average might imply, for example, that your area was/is currently underserved by food trucks, and there is a lot of demand (customers) in comparison.

food truck business plans examples

What are the current food truck market trends in your area?

It is vital to understand the trends of the food truck industry in your area. Understanding trends will allow you to devise marketing strategies.

Understanding trends won’t be easy. You must conduct research and talk with your target audience. Additionally, you must also study your competitors to understand their target audience, the products they sell, etc.

Some common questions you may ask the target audience include:

  • What type of food trucks do they prefer?
  • At what time of the day do they prefer to visit a food truck (breakfast, lunch, dinner)?
  • How frequently do they visit food trucks?
  • What type of foods do they usually order?

You can ask as many questions as you need to understand the evolving trends.

b) Competition Overview

Studying your competitors’ business models is vital. You need to understand what makes them successful or why they fail. A clear understanding of their food offerings, marketing strategies, etc., will allow you to provide a better service.

If your competitors are offering nearly the same products & services, then what is their market share and how do they market their products & services to attract new customers?

It is always a good idea to do some research (if necessary, physically visit your competitors without revealing your business intentions) and create a comparative table summarizing their product & service offerings, marketing strategies, target audience, etc.

Here is a sample table that you can use as a reference:

SWOT Analysis for a Food Truck

SWOT stands for Strength, Weakness, Opportunities, and Threats. It should be a summary of your business’ strengths and weaknesses along with opportunities and threats. It also helps potential investors to assess the risk and reward profile of your business.

Here is a sample that you can use as a reference:

  • Strengths : Collective experience of 8 years as sous chef in 4 restaurants and a bachelor’s degree in culinary arts
  • Weaknesses : Startup cost, zero reputation
  • Opportunities : Growing number of local breweries and wineries looking to form a partnership with food trucks to supply food to their in-house guests
  • Threats : Increasing cost of raw materials and increase in new food truck businesses in the area

food truck business plans examples

c) Customer Analysis

This is the sub-section where you will provide a detailed analysis of your target audience. Some important points that you must include in your customer analysis include:

  • Age and gender distribution (you can get local demographic data from census.gov )
  • Frequency of food truck visits
  • Average monthly income and disposable income
  • Average spend (per order or per month)
  • Average yearly or monthly spending on food at food trucks
  • Type of food and food trucks preferred
  • The expected price range for food
  • Things they dislike about existing food trucks and what they expect to be improved
  • Locations where the target audience is found more (wineries & breweries, corporate workplaces, farmer’s markets, annual events such as parades, fairs, car shows, etc.)

You can add as many data points as required to validate your business decision. The idea here is to display your deep understanding of the target audience and their needs, preferences, and expectations. This knowledge can help you to tailor your products & services to attract new customers.

food truck business plans examples

4. Sales & Marketing Strategy

This is the section of your food truck business plan where you outline your customer acquisition strategy. You must answer here the questions below:

  • What is your USP?
  • What are the different marketing strategies you will use?
  • How do you intend to track the success of your marketing strategy?
  • What is your CAC or customer acquisition cost?
  • What is your marketing budget?
  • What promotions and offers do you intend to provide for attracting new customers at the beginning?

Let’s expand a bit on a few questions below:

What marketing channels do food truck businesses use?

A few marketing channels that food truck businesses typically use are:

  • Online food truck listings and apps (see here a full list for the US)
  • Online reviews (e.g. Google reviews)
  • Social media content and ads
  • Partnerships with other businesses (e.g. corporates, events, etc.)
  • Print media (newspaper ads, flyers, etc.)
  • Word-of-mouth, recommendations, etc.

It is not necessary to use all channels. You can start by focusing on a few of them. You can include other marketing strategies later.

Also, you must have a fair and nearly accurate estimate of your marketing budget. Failure to display a well-planned and adequate cash flow for advertising and marketing can lead to investors losing confidence. That’s because investors are fully aware that if adequate funds are not allocated for marketing, the business will be derailed before becoming a success.

food truck business plans examples

What is your unique selling proposition (USP)?

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors.

A few examples of USPs are:

  • Uniqueness : you may be the first food truck business offering Thai food
  • Organic food : We use high-quality and organically farmed products and real ingredients sourced from nearby organic farms
  • Price : affordable food & menu for the quality vs. competitors
  • Location : the food truck may be located in a busy street

Your USP will depend on your business model, competitor analysis, and target audience. Whatever your USP be, it should appeal to your potential customers and attract them. Plus, The USP you offer should be convincing enough for investors and lenders.

5. Management & People

You must address 2 things here:

  • The management team and their experience/track record
  • The organizational structure : different team members and who reports to whom?

a) Management

Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your food truck business.

Describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

It is also important that you explain how their experiences and qualifications help you in implementing the food truck you are proposing. If they have specialized training, and experience (such as a degree in culinary arts, 8 years of experience as a sous chef working under celebrity chefs, etc.), add that information.

b) Organization Structure

Even if you haven’t already hired a manager, service attendant, driver, and kitchen staff, you must provide a chart of the organizational structure defining the hierarchy of reporting.

6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any business plan for a food truck.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your food truck is an attractive investment.

There should be 2 sections to your financial plan section:

  • The startup costs of your project (if you plan to open a new food truck, renovate your existing truck, etc.)
  • The 5-year financial projections

a) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a food truck, startup costs are all the expenses you incur before you open your food truck and start making sales . These expenses typically are: the truck, cooking equipment, licenses and permits.

Logically, the startup costs vary depending on the size of your truck, the quality of the cooking ware, and the permits you must apply for.

On average, it costs $60,000 – $180,000 to start a food truck in the US .

Note that these costs are for illustrative purposes and may not be fully relevant for your business. For more information on how much it costs to open and run a food truck, read our article here .

b) Financial Projections

In addition to startup costs, you will now need to build a solid 5-year financial model for your food truck.

Your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in the business plan of your food truck.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

  • How much revenue do you expect to generate over the next 5 years?
  • When do you expect to break even?
  • How much cash will you burn until you get there?
  • What’s the impact of a change in pricing (say 15%) on your margins?
  • What is your average customer acquisition cost?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

  • The number of covers (customers or orders) over time ;
  • Your expected revenue ;
  • Operating costs to run the business ;
  • Any other cash flow items (e.g. capex, debt repayment, etc.).

When projecting your revenue, make sure to sensitize pricing, cost of raw materials (food supplies) and your sales volume. Indeed, a small change in these assumptions may have a significant impact on your revenues and profits.

food truck business plans examples

7. Use of Funds

This is the last section of the business plan of your food truck. Now that we have explained what your food truck’s business model and concept are, what is your menu, your marketing strategy, etc., this section must now answer the following questions:

  • How much funding do you need?
  • What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
  • How long will this funding last?
  • Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

  • What percentage of the total funding the loan represents?
  • What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

  • What percentage ownership are you selling as part of this funding round?
  • What is the corresponding valuation of your business?

Use of Funds

Any food truck business plan should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment in paying your employees’ salaries? Or will it cover mostly the cost for the lease deposit and the renovation?

Those are very important questions you should be able to answer in the blink of an eye. Don’t worry, this should come straight from your financial projections. If you’ve built solid projections like in our food truck financial model template , you won’t have any issues answering these questions.

For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

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How to Write a Food Truck Business Plan (2024 + Template)

Three customers standing in line outside of a food truck. Owner is serving food from the window.

Noah Parsons

12 min. read

Updated February 7, 2024

Free Download:  Food Truck Business Plan Template

Starting a food truck business is an attractive alternative to opening a restaurant .

The initial costs are significantly lower than opening a traditional restaurant and the popularity of food trucks only continues to grow. This doesn’t mean that food trucks are cheap, though. It can cost anywhere from $5,000 to over $100,000 to open a new truck, so you’ll want to make sure you understand the risks.

Want some extra guidance as you read through this article? Download our free food truck business plan template .

  • What makes a good food truck business plan?

A business plan is a critical part of opening a food truck. A good plan is like having a recipe for your business and gives you the best chance of success. It will guide you through the process of getting up and running and make sure that you plan for all of the expenses and risks that will be involved. It’s worth the time and will greatly increase your chances of success.

After all, if you’re going to invest tens of thousands of dollars in a food truck, kitchen equipment, labor, and permits, why not spend a little time creating a solid business plan that will be your guide to launching a successful food truck business.

A well thought out business plan can be the difference between success and failure. For example, you might create an initial financial plan and discover that your idea simply isn’t profitable. 

It’s so much better to make this discovery when all you’ve invested is a few hours of your time in front of the computer. Instead of scrambling to figure things out when you’re already up and running and you’ve got no money in the bank, you can take the time during the planning phase to go back to the drawing board and rework your concept until you have a business that is profitable. You can use the time before you invest your (or other people’s) money to figure out where you can cut costs so that your business can be a success out of the gate rather than a struggle.

As you write your food truck business plan, remember that you’re doing this for you, not for anyone else. You aren’t going to get graded on what the plan looks like so don’t worry about that. Make your plan work for you so you and your business can be successful.To start on yours, download our free food truck business plan template.

One caveat: If you are going to be raising money from investors or going to the bank for a loan, you may need to dress up your business plan a little. But, to get going, focus on the content, not how it looks.

  • Food truck business plan template

A food truck business plan follows the same general format as a traditional business plan but has a few differences that you’ll want to pay close attention to. Here are the sections that you’ll want to include in your business plan for your food truck:

What’s your biggest business challenge right now?

1. executive summary.

Your executive summary is a very brief overview of your business. Try and keep it to just one or two pages. Anything more than that just isn’t useful.

Food Truck Business Executive Summary Tips

This is an overview of your business that you’ll share with your business partners and your family. It’s a summary that describes, very briefly, the concept for your food truck, your core hours of operation, your locations, a summary of your marketing plan, and the amount of money you’ll need to get up and running.

Write your executive summary last after you’ve written your complete plan. Because the executive summary is an overview of all the work that you’ve put into your plan, spend the time on the rest of the plan first and then come back and summarize everything on one page.

A good rule of thumb is that someone should be able to just read your executive summary and get a solid overview of your business.

This is the fun part of your business plan. Use this section to describe the general concept or company description for your food truck. What kind of food will you serve? What makes you stand out?

Food Truck Business Concept Tips

It’s important to think about your key differentiators and write those down here. If you’re opening a taco truck, what makes your tacos special? Why will people choose your taco truck instead of going to all the other taco trucks? Or, perhaps there are no taco trucks in your area. That’s a “gap in the market” that your food truck concept will fill.

It’s also worth discussing why you want to open a food truck instead of a traditional restaurant. Does your food lend itself to a food-truck experience?

3. Menu & Costs

Following up on your concept, you need to think through your menu. What items will you sell and how much will you sell them for? How much will it cost you to produce each item? How much time will it take you to prep and cook each item? You can look through some food truck menu examples to get an idea of how you might want to structure yours.

Food Truck Menu and Costs Tips

Thinking through these questions and writing down the answers is a critical step in the planning process. You’ll want to make sure that the food you plan on serving can be served quickly enough and that your prices are set so that you cover food costs. Of course, you’ll have to cover other costs as well, but you’ll explore that more when you do your financial plan.

Once you have explored what your menu and pricing looks like, it’s worth sharing your menu with friends and family to get input. Ideally, you should also try and share your menu with strangers as well to get their input. What do they think about your prices? Do your item descriptions make sense?

4. Target Market

Your target market section of your business plan describes who your key customers will be. What age group are they part of? What are their demographics? Where do they live and work

Food Truck Business Target Market Tips

You’ll use this information to determine the size of your target market. This is the total number of potential customers that you could have.

You’ll also use this information to inform your branding and marketing strategy. If your target market is millennials, then your branding and marketing may lean towards the values of healthy eating, for example.

5. Location(s)

Just because your business is mobile doesn’t mean that every day will be a new adventure to find “the best spot”. You’ll want to have a plan ahead of time so you don’t waste time every day finding the right location .

Food Truck Business Location Tips

First, you’ll want to consider locations where your target market is going to be. If you’re going after the “working lunch” crowd who’s looking for a quick lunch near their offices, you’ll want to have a location that’s convenient for them.

Customers also value consistency. They’ll want to know where you’re going to be and when you’re going to be there. If you’re in one location one day and gone the next, you might lose out on repeat customers who think that you’re inconsistent.

If you’re going to be part of a more established food cart “pod”, what does it take to get a spot? What is the cost and what permits are required? Figure this out now so you can factor parking and permitting costs into your overall expense plan.

If you’re planning and serving from multiple locations during any given day, think through and write down your schedule. How often will you move? How long does it take you to break down one location and set up at a new location?

6. Branding, Marketing, and PR

With the explosion of food trucks, figuring out how you’re going to attract an audience is critical. Thankfully, you’ll be driving a mobile billboard, so you can leverage that to your advantage and use that for marketing and advertising.

Food Truck Business Branding, Marketing, and PR Tips

It’s important to ensure that your social media handles are part of your branding and marketing strategy so that people can easily find you online and know where you are. Equally important is that you religiously update your social media profiles. There’s nothing worse than a profile that hasn’t been updated in days or weeks. Many customers will think that you’re closed if you don’t appear to be active online.

Beyond social media, you’ll want to make sure that you’re listed in Yelp and any other local food truck directories and apps. Getting a presence in these apps and getting positive reviews is critical, especially in the early days.

If you can get local press, that’s worth chasing down as well. Often, the weekly arts and culture papers will review food trucks, so it’s worth announcing your presence to them. When you do, think about your story – what makes you unique? What’s special about your food? What pushed you to start a food truck business in the first place? Everyone has a story to tell, so tell yours and try and get some coverage that will drive customers to your truck.

7. Company and Management

Food truck businesses are usually structured fairly simply. There’s usually just one or two owners and the business is usually an LLC. 

Food Truck Business Company and Management Tips

Even if things are fairly simple, it’s always worth writing things down, especially if you have business partners. You’ll want to have agreements about who owns what, what stake in the business each person has, and what happens if one of the partners wants to walk away.

While everything is always optimistic and positive in the beginning, the hard work of running a food truck business can put a strain on any relationship and you’ll want to have a plan in place in case things don’t go exactly the way you think they will. Even the best of friends sometimes have to deal with difficult business situations and it’s always much easier if everything is written down and agreed upon before the business is actually up and running.

8. Financial Plan

The financial plan is potentially the most important part of your business plan. Here’s where you’ll figure out exactly what it will take to make your business work so that you can make a living.

Forecasting Sales for Your Food Truck Business

First, you’ll want to forecast your sales . How many meals do you think you can serve on an average day? On average how much will each customer spend? What about seasonality? When the weather is bad, will you sell as much as when it’s warm and sunny?

Next, you’ll want to look at your “cost of goods”. This is how much it costs you in food and supplies to serve the food that you are serving. Subtract your Cost of Goods from your Sales and you’ll get what’s called your Gross Margin. Of course, you’ll want this to be a positive number, but that’s just the beginning.

Food Truck Business Expenses

Next, you’ll need to look at your expenses. In addition to food costs, you’ll have labor costs including your own salary as well as any additional help you need. You’ll also need to consider insurance, licensing from the city and county, as well as fuel and commissions to event hosts. It’s fairly common for food trucks to pay a flat fee plus a percentage of revenue to event hosts, so if you’re going to consider taking your truck to events you’ll need to factor those costs in as well.

Other expenses can include access to a shared kitchen space. As a food business, you won’t be legally allowed to prep food in your home, so food prep will have to be done either in your truck or in rented kitchen space.

With your sales forecast and expense budget, you’ll be able to calculate your profitability. If your business isn’t looking profitable to start, you can make adjustments to expenses, potentially increase the price of your food, or explore how you can serve more meals.

Food Truck Business Startup Costs

Of course, you’ll also have to consider your startup costs. It’s not at all unusual for a food truck and equipment to cost north of $50,000 and can easily extend beyond $100,000 depending on how custom of a setup you need. Of course, there’s a healthy market for used food trucks, so that’s worth exploring as well.

In terms of startup costs, $100,000 is relatively modest compared to many other businesses and certainly substantially less expensive than opening a restaurant. Many food truck entrepreneurs may find that they can fund their startup with savings and loans from friends and family. Bank business loans for food trucks are also a possibility since most of your startup costs are going towards a physical asset that the bank can reclaim if things go horribly south.

Food Truck Business Cash Flow and Profit and Loss Forecasts

With all of these numbers, you’ll be able to assemble a Profit and Loss forecast and Cash Flow forecast . These two financial forecasts will help you determine exactly what your funding needs will be to get your business off the ground.

If you’re struggling with the financials, it’s worth investing a small amount in a business planning tool to help you get your plan done without having to worry about learning the details of financial forecasting in Excel.

With your food truck business plan in hand and a financial forecast that shows that you can indeed run a profitable business, the next step is to actually get started building your business.

For further reading, check out these articles:

  • How to start a food truck business
  • 10 strategies to increase your food truck revenue
  • Keeping your food truck business rolling

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Content Author: Noah Parsons

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

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Food Truck Business Plan

Business Plan 1

Planning to start your own food truck business? Well, you need to have a business plan first. Although it is not a requirement in starting a business, having a business plan serves as a blueprint and itemizes the processes you will be doing before you start a business.

  • 25+ Free Business Plan Examples
  • 18+ Examples of Simple Business Plans

To help you create your own food truck business plan, we have provided some examples (in PDF) that you can use when you will be creating your own business plan. You may also see  importance of business plans .

Basic Food Truck Business Plan Example

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Simple Food Truck Business Plan Example

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Editable Food Truck Business Plan Example

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Essential Components of a Food Truck Business Plan

1. company profile.

Every business plan, or any type of business plan always starts off with a company profile or company background. The company profile acts as a summary of the entire business plan, but important details are also being discussed in the said section. Among the contents of the company profile includes the products or services in which the company is selling, the company’s vision and mission, organizational structure, and marketing/financial strategies. You may also see  self-catering business plan examples

All of the mentioned contents are not discussed thoroughly in the company profile, as they will be further discussed in the succeeding section of the business plan.

Since the business plan is not meant for company use only, it is always suggested that information written in the company profile should be concise to detailed (despite being a summary) so that the readers will have a clear understanding of the company and its products before they start reading the rest of the business plan. You may also see business plan guidelines examples .

2. Marketing Structure

The marketing structure (or otherwise called as the marketing plan) is one of the most important sections of a business plan. The marketing structure thoroughly discusses the company’s products and services as well as marketing strategies to help the company gain an advantage against competitors. The marketing structure also identifies marketing strategies to help the company achieve long-term sustainability. You may also like business operational plan examples .

As previously mentioned, the marketing structure discusses the company’s products in detail. But if the company sells hundreds of products, then there is no need to discuss all of the products in the business plan. It will take up too much space which might cause the reader to avoid reading the remaining contents of the business plan. In this case, if the company sells a large variety of products, then it is highly suggested that important details of the product will be listed instead of writing down each and every product specification. Some of the important product details include the name of the product, product number, available colors, price, and manufacturing date. You may also check out hotel business plan examples .

Take note that listing down the products is not enough as you should also explain how each product will be beneficial to your customers and clients. Products are being manufactured because they always provide benefit, and they are not manufactured just for the sake of it. Take for example for a food truck business. There is a need for food truck businesses so that people don’t have to go far just to eat affordable and delicious food. For food trucks, they go to the customers instead of the other way around. You might be interested in market analysis business plan examples .

Marketing structure also includes the marketing strategies being implemented by the company to achieve high revenue and long-term sustainability. There are numerous marketing strategies that companies deploy for their respective products or services, but the strategies they use always align to the products they are selling (for example, a person who underwent numerous plastic surgeries cannot be used as an actor for a natural skin care ad). You may also like business plan outline with examples .

Marketing strategies are based on established marketing theories. They have proven to be very effective and are still being used by companies around the world today. But when technology suddenly moved at a very fast pace during the dawn of the 21st century, new marketing strategies also were introduced. Some of these marketing strategies specifically include social media.

The great thing about social media is that most of these platforms are free to use, and have also proven to be much more effective than their traditional marketing counterparts such as posters, flyers, brochures, and billboards. But did you know that these traditional marketing materials can now be created using graphic design software such as Adobe Photoshop, Illustrator, and Corel? And you won’t have to spend a single dollar in printing and distribution as you can insert the designs in your online profile. You may also check out implementation plan examples .

3. Financial Structure

Aside from the marketing structure, a well-written and well-researched business plan should also comprise another important section—a financial structure. Since you are still creating a business plan, most likely that you have not even began spending any amount for your business yet. This is completely understandable as you will still be creating forecasts on how the business will be earning once the operations go underway. You may also see advertising and marketing business plan examples .

The financial structure is composed mainly of financial forecasts. These types of forecasts include details on your initial investment (raw materials to purchase, business requirement and legal fees to settle), working capital, and yearly revenue/income projections for the next five years. You may also like company plan examples .

Financial forecasts are very important to a business plan because it gives a map on how the company will earn in the next few years. Additionally, business plans are also presented to investors so that they can give out necessary investment for your business. Of course, they will still decide if your product is worth investing in, since they also want to earn from your business through the interest fees you will be paying back to them once they have fully recovered the amount that they initially invested. Even if you have a large and sizable initial capital, you will still need investors in case there are additional costs that you won’t be expecting. You may also check out advertising plan examples .

The financial structure also includes the revenue and income projections for the next five years. You may be asking, “Why five years?” The five-year time span is usually where start-up businesses recover the full amount of their initial investment. Although some companies, especially large corporations, take longer than five years to break even, five years is usually the benchmark if the business can actually earn in the long run. When making the five-year financial forecast, you should consider inflation as well as customer preferences.

For example, the prices of raw goods that you will be listing down in the forecast (specifically in the income statement) will certainly be different in the succeeding years. Your investors will certainly be looking at how the forecast is being analyzed, so make a forecast or projection that considers and analyzes all options, as well as not being too optimistic nor pessimistic. You might be interested in annual plan examples .

The financial structure is one of the hardest sections to create in an business plan, so make sure that the management team consists of a financial specialist (preferably a CPA or an individual who has long-term experience in financial services) to create the financial structure. If your management team does not comprise any specialist, you can always hire a third-party CPA to do the work. Just make sure you discuss with the third party on the details you want to incorporate in the forecast or projection. You may also see implementation plan examples .

4. Socioeconomic Structure

The socioeconomic structure involves social and environmental aspects of the business. Usually, the socioeconomic structure discusses how the business impacts the community and natural environment in particular. The business obviously collects resources from the natural environmental, and it is only understandable that the resources should be returned to its natural state. Additionally, the business also has the responsibility to provide not only jobs for the community but also makes sure the individuals in the community do not get displaced or do not suffer any negative effects from the business’s operations. You may also like quality plan examples .

Socioeconomic structure is also called corporate social responsibility (CSR). Every business organization, no matter how large or how small, has a responsibility to its stakeholders (most specifically the community and the environment). That is the reason why these companies should give back especially if they are attaining revenues from their operations. You may also see management plan examples .

When you are creating a business plan, it is not yet necessary to provide details on how you are going to give back to the community. You just need to give a short background on the activities you will eventually be doing. It is not only investors who will be reading your business plan, as various social welfare groups or non-government organizations might also get a copy of your plan. You may also see  coffee catering business plan

New Food Truck Business Plan Example

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Printable Food Truck Business Plan Example

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Customizable Food Truck Business Plan Example

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Food Ideas for Your Food Truck Business

Listed below are some food ideas you want to try out for your food truck business. Even if you already have a menu planned, you can still add some of the food items listed below to increase variety.

1. Shawarma

Shawarma is one of the most popular wrapped foods in the world. Shawarma consists of chopped beef or chicken, mixed with a variety of vegetables and sauces which are then wrapped inside a pita bread or toasted dough. You can always mix it up by using different combinations of meat and vegetables as well as adding new ingredients such as pork, potatoes, bell peppers, olives, etc. You may also see desert catering business plans .

2. Ice Cream

Everyone’s favorite dessert also makes this list. Whether the temperature is scorching hot or freezing cold, ice cream is still being sold by the millions every day. Ice cream is quite easy to make as long as you have the right equipment. You can sell different flavors depending on the availability of ingredients, but you can always start with the most basic flavors (i.e., vanilla, chocolate, strawberry, etc.) then increase the variety once you get more customers. You might be interested in daily plan examples .

3. Grilled food

One great way to entice passersby to buy your food is to let them indulge in the smell of grilled food. You can either grill pork, chicken, beef, seafood, or even vegetables (onions, corn, bell peppers, etc.). No matter what meat you are going to grill, it will certainly become a hit with your customers. You may also check out sales plan examples .

Grilled food is another favorite that is not only served as snacks but served as entrees and full course meals as well. If you want to maximize the grilled food experience for your customers, serve them together with mashed potatoes or with grilled/steamed vegetables. And don’t forget the drinks!

Food Truck Business Plan Cover Example

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Easy Edit Food Truck Business Plan Example

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Minimal Food Truck Business Plan Example

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Template for Food Truck Business Plan Example

template for food truck business plan example

4. Fried Chicken

Fried chicken is another staple in the food truck business industry. According to research, 8 out of 10 food trucks or food stalls sell fried chicken. This is testament to people wanting to eat fried chicken for the rest of their lives. Similar to grilled food, you can serve fried chicken as a light snack or full course meal. It is highly suggested that you go for the full course meal route as chicken is always meant to be consumed with hearty (but unfortunately fatty) side dishes such as mashed potatoes, buttered vegetables, and gravy. Remember, fried chicken is never complete without gravy (unless you’re Japanese or Asian where you prefer fried chicken to be complemented with mayonnaise or soy sauce). You may also see  consulting business plan.

Your food truck business does not need to be a cholesterol-filled affair with your customers. Go for a healthier alternative by selling delicious salads. These colorful and flavorful dishes are very appetizing and they can be a great substitute for a meat-based dishes. If you thought salads are only limited to lettuce, tomato, onions, vinaigrette, and Caesar dressing, think again. There are hundreds of vegetable, fruit, and dressing combinations you can use for your salads. You may also see company plan examples .

6. Pastries

Selling pastries is another option you should consider for your food truck business. The great thing about pastries is that you can sell a number of variations, and not just being limited to one form of pastry. There are numerous options, such as cakes, cookies, puff pastries, tarts, and frozen desserts, just to name a few. Since you will be selling a variety of desserts, you may want to partner with different sellers so that you don’t only increase the variety of pastries you are selling but also increase revenues. You may also like implementation plan examples .

We hope you found this article to be informative as you will be creating your own food truck business plan.

food truck business plans examples

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  1. BUSINESS IDEAS / FOOD TRUCK 1

  2. How To Start a Food Truck Business 2024

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COMMENTS

  1. How to Write a Food Truck Business Plan: Complete Guide -

    Remi. January 3, 2023. Food & Beverage. Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your food truck, you will need to prepare a solid business plan. In this article we go through, step-by-step, all the different sections you need in the business plan of your food truck.

  2. How To Write a Food Truck Business Plan (+ Template)

    Free: Food Truck Business Plan Template. Business planning is often used to secure funding, but plenty of business owners find writing a plan valuable, even if they never work with an investor. That’s why we put together a free business plan template to help you get started. Get the template now

  3. How to Write a Food Truck Business Plan + Template

    12 min. read. Updated February 7, 2024. Free Download: Food Truck Business Plan Template. Starting a food truck business is an attractive alternative to opening a restaurant. The initial costs are significantly lower than opening a traditional restaurant and the popularity of food trucks only continues to grow.

  4. How to Write a Food Truck Business Plan

    Market Analysis. Organization and Management. Service or Product Line. Marketing and Sales. Funding Request. Financial Projections. Appendix. Food Truck Business Plan Template. We've outlined how to format your business plan and listed the key topics you should cover.

  5. Food Truck Business Plan

    9+ Food Truck Business Plan Examples – PDF. Planning to start your own food truck business? Well, you need to have a business plan first. Although it is not a requirement in starting a business, having a business plan serves as a blueprint and itemizes the processes you will be doing before you start a business. 25+ Free Business Plan Examples.