When you first enter the food truck industry, you are likely going to be 100% focused on your own truck. We understand that. However, you are, in every way imaginable, the new guy on the block. This means you have to take some serious notes along the way.
In other words, new food truck owners have to study the competition. Your competition has likely been conquering the mobile kitchen industry for a couple of years now, which means they know its ins and outs.
Why should new food truck owners study the competition? Well, let the below information be your guide, future owners.
Why New Food Truck Owners Have To Study The Competition
- If you are a first-time food truck owner, then you likely don’t know a whole lot about this industry. Yes, you have probably done your homework and asked around. But doing that and actually being an owner is a completely different story. Your competition, on the other hand, should know exactly what they are doing if they have been in this industry for quite some time. Learn from them!
- Studying your competition in the form of asking questions could lead to networking opportunities. Networking is huge in any industry.
- Because the seasons change, and so will your sales. What do we mean by this? Well, there is an offseason in the food truck industry and then there is the busy season. They are completely different beasts. Sure, you might have no problem attracting customers in the summer (a.k.a. the busy season). But what happens when the days get shorter, the temperatures get colder and snow starts lurking around? How do you make money in the winter (a.k.a. the offseason)? Spoiler: Your competition has likely battled many winters, so learning how they survived them would be a great start.
- In any industry, it is rather wise to study people who are already succeeding at what you want to do. This helps you get ahead of people who are at the same level as you. Not to mention, there is always, always, always something to learn from a person who has already gone through what you are currently going through.
- When you enter this industry, do you plan on having the same exact menu every day of the week, or do you plan on changing it up early and often? More likely than not, you won’t know what works until you actually try out different menus, or decide to stick with one. Still, your competition—food trucks in the same city as you—might have some advice on the matter. Listening to this advice can help you in the short-term and long-term.
- What food truck events are your competitors entering? Are they even entering food truck events? If not, then you can immediately get ahead of the game by entering as many food truck events as possible.
- Are you trying something for the first time, or has your competition been there and done that? That is yet another reason why you need to study said competition.
- Perhaps seasonal treats in your area do extremely well during a certain time of the year. If so, then it’s important to study the competition and add your own twist to these seasonal treats. That alone could attract customers to your truck over another food truck.
- What are the weaknesses of your competitors? Make it a goal to make said weaknesses your strengths.
- Do you even know who your competition is? If not, then that is a real problem!
Learn from your competition, continue to come up with new strategies and continue to make your business better every single day.
While the food truck industry tends to be a very friendly industry, you have to study your competition if you are going to get ahead and succeed in the mobile kitchen industry. It’s very important to know what your competitors are doing. After all, they could be up to something big. And they end up stealing all of the customers in your area as a result.
New to the industry? If you could use some more advice, make sure to dive into the articles below!
“Whether you are new to the food truck industry or are getting ready to enter, you, of course, want to get started on the right foot so you can see an overwhelming amount of success right off the bat.”
“With that said, it’s important to keep two things in mind: (1) Not everyone succeeds overnight in this industry, because it’s not a get-rich-quick scheme, and (2) we are about to drop some tips that will help you conquer the mobile kitchen industry right away.”
“You might be new to the mobile kitchen industry, but that doesn’t mean you can’t dive into a pile of success right out of the gate.”
“If you are in the market for a food truck, then it is absolutely crucial that you find the perfect truck.”
“Of course, there are many questions you need to ask yourself during this process. For example, you should be asking yourself this question: Should I buy a high-end food truck, or should I buy a cheaper truck?”
“First things first, you have to figure out your budget. You also have to figure out how much money you are going to need, and if you are going to finance a truck or pay in cash. There are many reasons why you should buy a high-end truck, though. For instance, this is your business, so quality should be a top priority. Not to mention, a high-end truck typically comes with warranties, and it typically won’t break down on you — well, at least not for a very long time.”
“If you have already purchased your food truck and are just waiting on some of the finishing touches to take place, then you are in luck, because spring is just around the corner. If you have yet to purchase a food truck, though, then you might want to wait a little while (perhaps until next year) for your grand opening. Unless, of course, you can somehow get your truck up and running by late spring or early summer.”
“Timing is everything. That is the case for any profession, any industry.”
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