Business Plan Write Up
Running a food truck business is very import when it comes to creating and maintaining customer relationships. At Gryphon’s Greens, we plan to do several things in order to gain a competitive advantage over our competitors. To begin with, we plan to use a bait and hook method by offering a free drink with the purchase of a food item. We plan to use this method because we will still be generating a profit from the sale of the food item. Although we will have to absorb the costs of the free drinks, we will be purchasing the drinks in bulk which will substantially decrease the costs of each free drink that we hand out. This method will help increase our revenue due to the increase in customers that …show more content…
Once the rewards card has ten initials, the customer will receive a coupon for a free combo that will have an expiry date of one year. Not only we will have a points card but we will have an app that will also have a points card system. The reason why we also want to offer the points card on an app is to allow our customers who prefer to use their phone than to carry around multiple cards in their wallet. Another way that we plan to retain our customers is to offer a personalized experience to each of our customers. At Gryphon’s Greens, we believe that every customer is important and in order for our customers to realize that, we will offer a unique experience. Every time a customer orders an item at our food truck, we will write their name on the wrapper of the food and there will be a short message on the wrapper that regards to nutrition. For example, the message could use words like “Organic” to help our customers realize that serving healthy food is a very important aspect to our business plan. By offering a unique experience for each of our customers, we believe that this will give us a competitive advantage and will build long …show more content…
We will be catering to the needs of University of Guelph students as well as the faculty. Instead of accommodating the mass market, we want to focus on the niche market by serving the surrounding community around the University of Guelph. Last but not least, our final customer segment are health conscious people as well as organic food lovers. Our customers will have a few jobs to do when doing business with us as they will have to first find the location of our food truck. Once they find the location of the truck, they will have to make choices in regards to choosing what they want to order. Finally, the last job that our customers will have to do is to wait for their food to be made which could pose a problem as it could sometimes be raining or be extremely windy outside. We will have several gains for our customers as we will have quick service in order to prevent long lineups and frustrated customers. This is very important aspect that we have to get right because if customers are waiting a long time for their food, many will not return causing our company to lose future business. At Gryphon’s Greens, we will have many options for our customers to choose from that will range from burritos to grilled cheese. We want to make sure there are enough options in order accommodate everyone’s needs because we do not want customers complaining that there are not enough options to
I will continue to offer the hot and cold beverages and add healthy and organic breakfast and lunch with homemade pastry at a reasonable price. I also will target all of the university students and staffs by offering them a discount with a reward card. Also I will hand out flyers to all nearby businesses in the area and advertise in the local newspaper biweekly. Moreover, I will extend my business to cater for all events such as: gaming tournaments, art show, Special events and more. If you are a loyalty customer you will receive additional discount on all catering. Since this is a newly develop area any new business open in the area will received free lunch for a day for employees and staff.
It is ideal to have the option to purchase food right then and there, otherwise customers can just as easily bring their business to Carpe Diem, Satori Coffee House, Starbucks, or Beaners, all of which have moderate to high food selections (shown in Table 5). Todd should consider discontinuing the sale of retail items, and invest in a toaster oven and mini fridge in order to provide customers with more food options such as bagels, breakfast sandwiches, pastries, and fruit cups.
The required for the successful process are deliver successful and have enough food items. We make sure our truck companies agree to deliver our food items. We also make sure our payments to the truck company on time. We also contact to the food produce corporations. We should know how many food items we need before we request. We keep our food is fresh. We buy a large pantry to store our items. We also keep our food fresh and clean. No dust or sand on our items. We wash and clean our food every day. We request our food items at the food produce corporations. We also make sure our payments to them on time.
Food trucks have exploded into mainstream American cuisine. Once thought of as a cheap meal available at odd times of the night, street food has become a vehicle for chefs on the rise to make their mark on the food industry. Operating a food truck may seem like an easy task, but it can turn out to be a tremendous undertaking and risky financial venture. Operators must be prepared to lose money, to manage fixed costs, and to do constant forecasting in order to determine how much food to prepare. The advantages and disadvantages are numerous, but we will proceed to name a few.
1. How do food trucks affect local production possibilities curves for the restaurant meal industry? Explain your answer and provide a correctly drawn and labelled production possibilities diagram to illustrate your explanation.
Nevertheless, the majority of customers are very satisfied with the amount of serving along with the quality of their meal as well as the price paid. The strategy of being a low priced high value added has seen problems due to lack of customers which is affecting the bottom line drastically. This inevitable circumstance has put a hold on operations and started an investigation upon various neighboring competitors and their own strategies.
Given the changes in Red Lobster’s strategy over the past few years and the surprising ability to attract new, “experiential” customers, it our recommendation that they modify their strategy to focus on pursuing this type of clientele. We will go into further detail momentarily; however, the reason for focusing on the experiential customer group is that Red Lobster has the opportunity to increase revenue and net operating income at each restaurant by 20% or more. Granted, these are enormous gains and it will take a few years to realize their full potential, but for the reasons laid out below, we believe these gains are a realistic possibility.
•They are the most famous and one of the few outlets available in area and footfalls are generally heavy due to these•The places are usually visited very frequently by local people, students, etcPromotion•The joints rely on word of mouth publicity•There is no promotion done through ads for these joints. The promotion at maximum is limited to local newspaperSUGGESTIONS•McDonalds could increase the number of items served on its menu. Currently there are only 6 vegetarian and 6 non-vegetarian items served on the menu. It is also evident from the survey that many people feel that the variety of menu available is average and could be improved. Some of the customers prefer something new every time they visit. These potential customers could be targeted by increasing the number of items in the menu.
The cart will be supplied with local food from our local farms and local bakers ensuring we have the best products to sell. It is our intention to ensure our food is the freshest by using local farm to market food as well as keeping the prices low. Making money is why we are in business. For us to make money it will be necessary to have repeat customers which will keep our business thriving. Using social media will let our customers know where we are on a given day. Social media works both ways, our customers can contact us on social media such as facebook to find out where we might be over a weekend. This will help us reach the goals of repeat business in the Portland/Vancouver area. We are hoping by the use of social media, using farm fresh produce for our food and keeping our prices at a reasonable rate that our customers will come back to us time and time again to enjoy delicious, healthy, and freshly made vegetarian and vegan food that customers will enjoy and seek out at local events in the area.
This paper will focus on the second phase of a business plan for The Fox Den Food Park. The business proposal is to provide a permanent central location for gourmet food trucks to be able to rely upon. A consistent location helps the food truck vendors establish a strong customer base and set a specific schedule to let their customers know when and where they will be located. Marketing Strategy
A food truck is like restaurant on wheels. It has several distinct advantages over a traditional eat-in restaurant. A food truck can go to where the customers are. It has pretty low overhead, compared to a restaurant, and requires far less staff. However a food truck is still a business that requires a lot of work and attention- especially in the first couple of years. Food truck owners put in long days and have similar problems as restaurant owners, such as slow seasons, bad weather, and sluggish economy. Read on to find out how you can start your own food truck business.
Customers is an important justification of a company’s success. Considering the interest of customers and portraying a good image to its customers, it had come out with different variety of meals. For example, the KFC offers kid’s meal which gives children free
USE was expanded to include field consultants and market managers and today it gives franchisees, store managers and employees a chance to see and taste new products for upcoming seasons that are intended to address the changing preferences of customers. The merchandising plan for seasonal and high-potential new products is also shared. The centerpiece of the USE is the virtual 7-Eleven store, actual size 7-Eleven floor plans are built to show how seasonal products are assimilated into the standard store mix (7-Eleven About Us, 2010). For future reference, this capability should be the tool whereby the adjustments necessary to accommodate a drive thru capability are visualized and ultimately realized.
When performing a five forces model for the snack food industry, I first looked at competition from rival sellers as I felt that this was the strongest threat for manufacturers. Rival sellers can easily try to produce a new line of products, mimic a competitor’s product, and it’s difficult to differentiate a snack food from the competition as there is so much competition. The market isn’t quickly growing, so rivals are competing for the same customer base and there is very little if any cost to switch from one snack food to the next. Many snack foods are very similar and there are hundreds if not thousands of competitors all fighting for the consumer’s purchase.