Food Truck Industry Analysis

The “Burger Market” is still growing and being strong. People still want to purchase burgers.

The change in consumer’s real household disposable income and increase in demand for take away, restaurant foods can have a major impact in this particular industry.

Introduction Dayton, Ohio has many current food issues. An especially large issue is food access. Low income families cannot provide food for their children on a regular basis. According to the USDA Food Access Atlas, Montgomery County has a large issue regarding food access. Much of the county is considered to have low income, the US Census Bureau states that 13.5% of the county’s population lives in poverty, so people are less able to provide themselves with food. Many people also have low access, so accessing food is difficult because in low income areas grocery stores and markets are scarce. The USDA Food Atlas states that 29.56% of the population in Montgomery county have low access to a store, which is 158,183.23 people (USDA Food

The USDA claims that each year, 25.9 million tons of America’s food is thrown away, the equivalent to a quarter of the total amount produced. Nationally, the wasted food is a damaging financial setback, amounting to $1 billion just to get rid of during a time of ascending food prices, nonetheless (Oliver, 2007). Food waste has skyrocketed since 1970 at an astonishing 50% increase rate, yet according to the FAO, one-sixth of America doesn’t get enough to eat.

In Lisa Miller’s essay “Divided We eat,” she describes her usual morning breakfast that consists of fancy foods and claims that she is a food snob. She then goes into detail about what her neighbor's routine is like, and what Alexandra Ferguson’s morning routine is like. Food is typically a big issue for these families and the parents will usually spend hours thinking about how they will feed their families. Miller and Ferguson later discuss that some children don’t get enough eat, and some of these children are within five miles of them. Miller then tells us that seventeen percent of Americans are food insecure. The income gap has increased and now more Americans are becoming obese because of this.

Americans today are no strangers to stretching every dollar earned in an attempt to live the American dream. Most people work long hours and eat on the fly with very little thought to what, or where, the food they have purchased came from. The reason food is so inexpensive has not been a concern to the average American, but the article written by Michael Pollan “The Food Movement Rising” attempts to convince the people that it is time to remove the blinders and take an accounting of the situation that America finds itself in. With obesity at epic proportions, and preventable diseases like

These figures are not definite and will likely change over time as figures are being actualized every year. These assumptions were based on an article written by the National Restaurant Association where they stated that as long as the economy keeps doing well the estimated sales in restaurants will exceed $604 Billion in 2011 alone (National Restaurant Association, 2011). From the projected forecast of sales for 2011 we are assuming that the prosperity in growth will continue each year. However with any economy nothing is for sure and sales should be monitored and increasing prices to keep up with costs will most likely need to be reviewed bi-annually.

Most food is wasted in homes because of various reasons like for example, “improper storage, mistaken or unnecessarily strict interpretation of expiration dates, and poor meal planning, purchasing, or cooking practices” (“Food Waste”). Not only does food waste money on an economic

The industry is made up of full service restaurants, which provide take out and entertainment services along with food services (Southward, 2013). The food service industry is extremely competitive, in which BWW is constantly increasing and improving its brand image, recognition and loyalty. The actual major industry concerns are rising food and labor costs. Rising costs have forced restaurant chains to increase prices for meals.

1. Think about size, growth, locational aspects and segmentation 2. Market Structure 3. Performance metrics used 4. Trends

The fast-food industry is changing everyday. There are new products being introduced in the market and new slogans being created. The companies in the fast-food industry will do their best to make the greater burger, and to make bigger and better fries.

The restaurant industry is said to be one of the oldest industries in the economy. As the economy and urbanization grow, so too does the industry of restaurants; it’s for this reason that the industry has been growing at a rapid pace. Even with the restaurant industry ebbing and flowing, there are still new entities entering the fray consistently. Some restaurants may close, but it will not be too long before a new restaurant opens in the place of the old one. Historically, the restaurant industry has contributed nearly 4 percent to the gross domestic product (GDP) of the United States (U.S.) economy. The most recent findings show that the restaurant industry employs more than 12.7 million people (which is approximately equal to 9 percent of the

5. Find Financing for Your Food Truck Business. The good news about a food truck business is that is significantly cheaper than a sit-down. However, you will still need financing from a bank or private investors. A used food truck can cost between $20,000 - $40,000. A new food truck can be as much as $100,000. If you are looking for a truly economical way to start a food truck business, consider a food cart. An ice cream or hot dog cart may not be the most glamourous option, but it certainly the most feasible for many peole. Read on for tips of writing a great restaurant business plan you can adapt for a food truck.

If we look at the fast food industry today there is room for success. Based on RNCOS’ new US Fast Food Market Outlook 2010, fast food industry growth rate is strong. Especially, hamburger sales growth is reported at the healthy rate of 4.6% in 2008. The market is expected to grow to cross the $170 billion marks by 2010.It is believed that due to the economic meltdown, fast food industry is benefiting from people being more prices conscious. People who were enjoying nice means at fancier restaurants are now turning their choice of means to more economical ways.

Obviously, China is a huge market for fast food industry. China’s food industry has a positive growth of over 10% over the previous 18 years