The value of a food truck business to the communities it serves
The food truck business is very beneficial to the community it serves because the contemporary society has advanced from a basic way of simply eating. Today, people are more interested in the complex art of presenting the food to them and unique tastes of the meals. This is what the food truck business is offering individuals at their doorsteps. The communities are able to enjoy their leisure time conveniently with assurance that they will be served preferred cuisines within their reach. People in the society who do have time or ability to prepare food at home, can flexibly get their foods in the truck.
The advantages of the food truck business
The food truck business is advantageous in many ways. They offer good alternatives to cooking meals at home and saves time of people. The time that may have been used do other alternative things will be spared since they will be served with food at their own convenience. In addition, food is brought at the step of the consumers. They do not need to travel long distances to access their best cuisines. There is a wide customer base as the entrepreneur can make trips in various places where the foods can be bought. The food truck business is cost-effective and dynamic manner to take food to customers.
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The risks involved in this business
The food truck business uses vehicles, which are vulnerable to wear and tear. The sellers are also exposed to outdoor threats such as lightning, flood, wind damages as well as hails. Even when there is an accident, it may be costly to repair the truck. The vehicle can get into a collision and cause death. The employees in the food truck can easily get into an accident of burning, smoking, etc.
The characteristics of the owners that help to make this business a success
The owners care for the welfare of employees by offering them quality insurance solutions. The owners should invest in the employees so that they become experts and aggressive so that they can be successful to serve their clients. The clients also should be protected with the preferred food truck insurance police to alleviate risk and duty. The owners of the food truck must be aggressive to create customer base so that they can be effective. They need to be creative to design the truck so that their first impression sells out to the prospective clients. The truck should be of a good design, colors and prompt a good feel of the foods being sold.
The type of entrepreneurship displayed in the video
The type of entrepreneurship displayed in the video is the romantic kind. Romantic entrepreneurs are driven by their passion. The entrepreneur in the video left his finance job just to engage in food truck business. The man had an irresistible desire to come up with something that sorts the food issue among residents. In fact, at an early stage of the business, the income was not fulfilling yet he continued. The excitement of the entrepreneur made him not even to focus on the reality of this business.
Additional support critical for the success of the food truck business
Additional support is critical for the food truck business since the equipment needed for the preparation of foods are expensive. The financial plan should include acquisition of the truck, which is very expensive as well as the cooking and serving equipment. The design and colors of the truck also need money. Therefore, additional support is critical for the business to be successful.
Suggestions Recommended for the Business
The business owner should research to understand the market and establish the competition inherent in the business. The entrepreneur should not be so excited to the point that he is bound to make mistakes. He should be keen to predict the future and make plans on the business so that risks are alleviated.
Reference
ABC News. (2013). Building a food truck business from the ground up https://youtu.be/Ny9fh4aLBbE
