The food trucks business entails the preparation of meals and snacks for immediate consumption from motorized or non-motorized vehicles such as food trucks, hot dog carts, ice cream trucks, and mobile concession stands. One thing to note about the industry is that are no major players in the industry and thus the lack of domination. As per statistics, approximately 2.5 billion individuals around the globe purchase food from mobile outlets and street kiosks every day. The demands for these types of services are high, especially in Latin America and Asia, as street foods are culinary staples in these regions. According to Food Truck Nation, the US food truck industry entails approximately 5,500 establishments that have a combined revenue of about $3 billion (Food Truck Business, 2020).
The industry competes with the conventional brick and mortar restaurants, especially eateries and convenience and grocery stores that sell ready-made foods and snacks. However, there is some evolving competition from the food delivery business, as well as vending machines, which creates competition over convenience and price, particularly considering the fact that the industry is nearing saturation levels.
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The functional organization of the food truck business entails the following;
CEO
Usually, the owner of the business and oversees the day-to-day activities of the business.
Directs the activities of the business
Signs documents and checks on the company’s behalf
Marketing
Is responsible for marketing the products of the business
Strategizes on means of increasing sales and revenues
Responsible for the company branding
Finance and Accounting
Responsible for the collection and management of business finances
Human Resource
Manages employees
Undertakes recruitment of staff
Responsible for staff training
Sales
Undertakes direct sales
Interacts and manages customers
Manages inventory ance
References
Food Truck Business. (2020). Retrieved 15 February 2021, from https://www.sbdcnet.org/small-business-research-reports/food-truck-business
