Does Your Mobile Catering Business Plan Make Sense?
If your dream is to run your own business and do so with a good deal of latitude, then you may find your calling by establishing a mobile catering business. To realize your goals, it’s a good idea to draw up a business plan so you’ll know exactly what to choose from the concession trailers that are available as well as determine how much money should be allocated for beginning your business. Here is an overview of what your business plan should include:
Tips on Writing An Effective Mobile Catering Business Plan
1. Prepare an Opening Statement to Present the Key Concepts of the Plan
Therefore, it makes good financial sense to compile a mobile catering business plan for reasons of budgeting and organizing your business initiatives. Your mobile catering business plan does not have to be formal unless you are going to be submitting the details to someone who expects this type of format. For general planning purposes, prepare an opening statement that covers the key idea behind your mobile catering business, your management goals, and budgetary projections.
2. Determine the Theme for your Concession or Mobile Catering Business
If you present your business plan clearly and succinctly, then you should have no problem with determining your objectives through your mission statement. Decide on the theme for your mobile catering business. For instance, will you be serving hot dogs or do you plan to sell Mexican-type fare? Also, are you planning on setting up your mobile catering truck in the local area or are do you want to expand your reach to outdoor festivals and events beyond where you live?
3. Include Financial Forecasts
Include details in your financial projection as to how you plan to spend the money during your first year of operation. You should also include projections for a five-year plan as well. By outlining your intentions in a business plan, you’ll be able to concentrate on what direction you want your mobile catering business to take.
4. A General Outline for a Mobile Catering Business Plan
To create a format that is simple and easy to read, you should outline your business plan as follows:
- Executive Summary: This portion of the plan will highlight your mobile catering business, showcasing its main features.
- Service and Products: This part of the plan will notate what foods and beverages you will be selling and how and where you will be serving your menu items.
- Company: This part of the business plan outline describes your mobile establishment as well as any start-up goals.
- Analysis of the Marketplace. Use this information to identify you competitors and target your customers.
- Management: This part of the plan will detail the background of those running the mobile business.
- Financial Review: Include your projections for cash flow and profit and loss for your business.
5. Determine What You’ll be Selling and How Many Employees you’ll Need
When it comes to building a mobile catering business, you need to stay focused on constructing a business plan that will take into consideration your needs with respect to outfitting any concession trailers, hiring employees and locating your business.
6. A Business Plan Makes Sense for Businesses Both Large and Small
While you may not be using a mobile catering business plan for reasons of obtaining venture capital funding, it is definitely a useful resource to have if you plan to apply for a loan from a bank or you want to establish your budget. If you are in business—regardless if it’s large or small—a business plan makes good sense if you want to track results and stay focused on your goal of making a profit.
John Macdonald is concession business owner and currently manages mobile catering events across the country. He currently writes for the blog on Concession Trailer Bay where he shares his tips and experiences with readers.