Ever since the food trucks took a life of its own and began to sprout all over the country, food truck owners have had a difficult time settling in. First, they had to deal with brick and mortar business owners who complained loudly about the loss of income. Then they had to worry about stricter laws and permits including zoning and parking which led to some pretty inventive marketing. Now, the challenge has come full circle with the immense competition among food truck owners for a piece of the market.
According to IBISWorld, the food truck industry is fast becoming saturated while regulations continue to pound every food truck business owner. A recent report reveals that there is no company that is ruling the food truck industry and the estimated annual growth for the next 5 years would be around 9.3%. However, the number of food trucks in the market today exceeds 4,000 and many of them are found in large cities where foot traffic is heavy and the population is dense.
All these mean that food trucks are going to start competing aggressively among themselves because their market is limited to the lunch and dinner crowd and tourists on foot. Majority of food truck owners want to end up as the next big food franchise like a McDonalds or Burger King. That’s the dream so how does one get from being one of many food trucks, dealing with the competition and realizing the dream?
Get Along with Other Food Trucks
The business is hard enough as it is so fighting out among yourself for a bigger share of the market should remain completely professional. This means no backbiting, pirating of customers, and snarling at each other. It ruins the experience for customers and could possible make them choose to never buy from food trucks again.
- Focus on improving your menu, taste, and service. Customers come back for the flavor.
- Keep your menu interesting and try not to copy food ideas from fellow food truckers but come up with your own gimmicks and flavors.
- Try not to stay in the same spot all the time. Rotate and move around so you get to meet as many food truck owners as possible.
Finally, develop the dream. If it’s a franchise you want, then expand your marketing plan as you gain more followers. Look for investors and a never change a winning recipe to bring down costs.