Chicago pizza boss food truck menu

Food Truck Business

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Food Truck Business

Question 1

A food truck is a spacious vehicle with an in built kitchen to make and serve food. This type of business is today emerging and assuming a steady growth across the United States. It is gaining lots of fame with many entrepreneurs choosing it because of its relatively lower cost. Purchasing or putting up a brick and motor restaurant is quite expensive as compared to food trucks which are mobile and can penetrate the streets with bustling crowds with much more affordable offers in their menu (Fahlevi et al., 2019). This will be healthy food truck and localized geographic position will be Chicago area due to its bustling population. Our menu offerings are pretty diverse to carter for this population; we will provide Chicago Pizza Boss, Three Legged Tacos, Five Squared Pizza plus Bakery, the Fat Shallot, the Happy Lobster, Piko Street Kitchen and many more. The trends informing this business around the United States and elsewhere in the world are the increased demand for environmentally friendly foods, the increasing vegan options and the meat plant blends, the rising number of event partnerships and promotions, digital echoes, and increased technology, more commercial restaurants feeling the need for mobility and decentralization of their businesses using food trucks. All these inform the cultivation of this business around the diverse and more globalized market.

Question 2

I will build this business while partnering with two others. This business is a partnership between Mesh, Terry and Amin who are also the co-founders. We are partnering to form a food truck limited company. Our resolve to build are grow this business to its desired point is anchored in various strategies. Some of these strategies include but not limited to the following: create a solid base, with memorable concept, offer a menu with no semblance in the entire food truck industry, and provide mobile ordering and payment models (Fahlevi et al., 2019). We are also planning to periodically change or add to the customers menu the kind of foods they prefer most; extend our partnership approach with other local businesses like the event companies, campuses, and local vendors. We are also going to carter for weddings, parties and office programs, attend various local festivals and invest extensively in our social media presence to ensure that we are in an absolute touch or connection with the market. These strategies with defines our business model and will work both in the short term and long term.

I chose partnership for this business for starting funding, ideas, and labor. Together with the requirement for any limited company to have more than one party, this business is solely dependent on its partners as the primary source for both human and capital resources.

Question 3

There is no doubt that like any other business, running a food truck is not easy and will never be easy. Over the period we have been conceptualizing this business idea, we have acknowledged various top tips of management from the most successful mobile vendors that will make us build, lead and put this business on the right trucking. Some of the management and leadership skills we will adopt are; leading by example through establishing a unique menu offer that will sync right with the market, application of the local marketing approaches like partnering with local event organizing companies to tap into their established markets and focusing of great, best sanitary service (Mintzer, 2015). Like alluded to earlier, we are very keen on liability protection that is why we are considering partnership to form a limited liability company as the best entity formation for this business. With regards to production and operation management of this business, we focus on thorough research for the target market and choose a food truck concept that will sync deep into the market and last the test of time.

Question 4

First off, we describe human resource management as the established policies and practices that help us undertake the routine programs of human resources within this business. These, includes the development of our staff, employee staffing, performance management, motivational management, and encouraging employees to take active role in the company’s decision making processes. Secondly, in this business, we will praise employees as a means of dispensing positive assessments from the leaders thus, spurring productivity (Mintzer, 2015). Thirdly, we will encourage extensive autonomy because making employees to feel they are in charge of own destiny motivates them. We have to adopt the motto “if employees can do it, let them have a freer reign.” We do not need to stare over their shoulders on every role they are assigned, but instead allowing them the freedom to do what they do best make them feel encouraged and thereby high productivity.

Another of management is to treat all the employees with respect. Treating our employees like they are intelligent adults has got the potential of impacting positively on their productivity. Also, as leaders of this business, we will tolerate honest criticisms and complaints to allow the employees to express themselves openly in critical topics. Finally, we will instill and make it a business culture to ensure a healthy work life. We acknowledge the very fact that employees are always happy and energetic when their working environment respects their need to balance work and free time.

Question 5

Before venturing into this business, we had to extensively review some of the best marketing strategies that we will adopt for this business to grow from strength to strength. First, we must define our food truck audience before creating the marketing plan (Alfiero et al., 2017). This will ensure that our products reach these people. With the current trends, we are presented with a diverse audience to choose from. For example, we can target young healthy eaters, families and even foodies with exotic and adventurous taste. While focusing on a market, we will critically assess the variables like the demographics, culture, competition, et cetera.

Second, we are focused in establishing community appeal. The successful food trucks have been observed as being socially responsible; therefore, building customer loyalty along this line is very critical for this business. Third, building our reputation extensively through social media is extremely critical. We must invest in photography that will focus in taking highly-quality, well-lit and colorful photos to be posted and shared within our social media platforms. We will use Instagram, TikTok, Twitter and Facebook to attract millions of young buyers. Other marketing strategies would involve the development of company’s website to act and an online hub for the business. Linking it to other social media profiles will be beneficial in ensuring attraction of press through sharing of information like the menu, images and various professional programs of the business.

Question 6

To manage the financial resources of this business, we will implement various tips including establishing the right banks accounts. The right banking approach is significant for the success of this business- getting separate checking and savings accounts make the expenditure to always flow accordingly. Other areas we will also focus are taking the stock of the current financial situations, making plan of every single dollar the business brings forth, setting reasonable goals and checking-in with all the business finances every day. For example, without an arrangement, it is very simple to get yourself in need of cash. All things considered, the treat yourself rationale is not difficult to embrace (Alfiero et al., 2017). In the event that you say yes to an excessive number of pointless costs, you may be frustrated with your reserve funds. To battle this, set aside the effort to make a spending plan. Plan out where you need to utilize your cash. Notwithstanding your regular costs, consider your investment funds objectives for what's to come (Alfiero et al., 2017). You additionally need to discover a planning strategy that works for you. Despite the fact that it very well may be frightening, you can't improve your monetary circumstance except if you assess your present circumstance. Be ruthlessly legitimate with yourself about any extraordinary obligation or high costs that are harming your spending plan. Commend your great monetary decisions. Record everything with the goal that you can see the entire picture.

References

Alfiero, S., Giudice, A. L., & Bonadonna, A. (2017). Street food and innovation: the food truck phenomenon. British Food Journal.

Fahlevi, M., Zuhri, S., Parashakti, R., & Ekhsan, M. (2019). Leadership Styles Of Food Truck Businesses. Journal of Research in Business, Economics and Management, 13(2), 2437-2442.

Mintzer, R. (2015). Start your own food truck business: Cart trailer kiosk standard and gourmet trucks Mobile Catering Bustaurant. Entrepreneur Press.