Project proposal on food truck

Executive Summary:

Summary:

The purpose of this business plan is to secure a tk. 4000000 three-year

Bank Asia loan to fund the purchase and marketing of a food truck
restaurant in Chittagong . The investment will help the company begin
and continue operations until the company becomes self-sustaining.

The aim of setting up the Food on wheel is to take our various types
of meals and soft drink to wherever we can find our target market. It
could be on the beach, it could be at a picnic ground, it could be on a
carnival ground, sports complex, as well as a religious crusade ground.
All that we are concerned about is to provide good quality food at a
cheaper price to our highly esteemed customers.

Our intention is to build a mobile truck food business brand, which will
help event organizers worry less on how to provide a cafeteria where
participants at their event can get lunch. We intend working with
managers of public facilities and event planners.

We will offer our customers the opportunity to either purchase our

neatly packed foods or give us their orders and we will prepare it whilst
they wait. We have perfected our plans not to allow our clients wait
longer than necessary when they place their special orders.

Although we are a mobile truck food business company, we have our

physical office facility (that accommodates our administrative unit,
kitchen and store room) in Khulshi ,Chittagong. It is a place where
people can come in to make enquiries about our business and also a
place where we are able to interface with our vendors and government
officials .

our meals will be prepared, served and sold at a pocket friendly price in
a neat and hygienic environment. The health of our customers is of top
most priority to us, which is why we do not intend to leave any stone
unturned when it comes to giving our clients the very best of services.

Success Bench Mark :

Although we intend starting with just one mobile food truck in

Chittagong, but our ultimate goal is to grow the business to a level
where we have fleets (a minimum of a hundred) of mobile food trucks
scattered all around Bangladesh within 10 years of launching the
business . We also intend to train a minimum of 100 entrepreneurs on
mobile food truck business annually. Furthermore, we want to see that
we create systems and processes so that our food truck business can run
on auto pilot.

Corporate profile

Our food trucks name is Meals on wheels . It is basically operating in

Chittagong . We use organic and high-quality ingredients to provide
our customers with the best tasting Hygienic food .

Management Team:

Required Funds: We will require 4000000 tk. in starting

capital. Together our two partner are investing 1875000
tk. in personal funds. In addition, they are seeking to
obtain a 3750000 tk. Bank Asia loan. The loan is
required to purchase the food truck and cover initial
startup expenses. The loan will be structured as a long
term 60-month loan and will be repaid at 6% interest.

Our Mission Statement : We are in the mobile food truck

industry with the aim of building a brand that can meet
the needs (foods, snacks and drinks) of our esteemed
clients in places where they can hardly access standard
cafeterias. And also to offer entrepreneurs the
opportunity and training needed to successfully lunch
their own mobile food truck business in other cities of
Bangladesh .

Our Vision Statement: To become the leading brand in mobile food

truck business in Chittagong and the whole of Bangladesh .

Financial plan

So, our budget is based on starting small but with class. As such, here is
a picture of the areas we will spend our start up capital;
Our Startup Budget and Expenditure:

The Fee for Registering the Business: 200000tk.

The budget for insurance, permits and license: 400000tk.

The Amount needed to rent an office facility with store and

parking for 6 months in Khulshi, Chittagong: 120000 tk.

The Cost for the purchase of the purchase of a brand new

retrofitted food truck with all the required gadget (oven,
rotisserie, coffee pots, grill, hot dog roller and refrigerator):
900000 tk.
 The Cost for kitchen utensils, and pots et al: 150000 tk.

The Cost for supply of raw foods, ingredients, drinks and

beverages for a month: 50000 tk.

The cost for food packaging: 200000 tk.

The cost for a food cart: 30000tk.

The Cost of Launching a Website: 40000tk.

The cost for parking and maintenance of the truck for one month:
30000tk.

Additional Expenditure (Business cards, Signage, Adverts and

Promotions et al): 5,00000tk.

The total cost we are likely going to spend from start to when the
business is fully operational is estimated to be at about 2620000
tk. (please note that the payment for the brand new retrofitted
food truck is spread over a period of 48 months).

Market Analysis

Market Trends : In this dispensation more than ever before, people no

longer have sufficient time to do all they would want to do within the
available 24 hours. Hence, the rise of fast food restaurants all over the
cities. As such, mobile food truck business is another business that is
designed to fit into a dispensation like ours. Part of the marketing and
sales strategies that we shall adopt include but not limited to the
following;

Submit proposals to event management companies to become

their official mobile food vendor

Submit proposals to management of public facility (sport centers,

beach and schools, et al) to become their official mobile food
vendor

Send proposals to schools and corporate organizations to become

their official mobile food vendor

Sponsor relevant events, such as cooking competitions, and

cultural events, et al.

Our Target Market :

We do not intend to place any limit to the scope of our target market
and these are the places / locations where we intend operating our
mobile food truck business with the aim of maximizing sales;
Construction sites

Tourism locations

University Campuses

Carnival ground
 Stadiums and sport centers

Community Outdoor Events

Farmers Markets

Industrial Parks

Movie Recording Location

Farmers Market

Military Bases

Office Complexes

Mechanic Villages

Open air shows and programs

Competitive Advantage: Loads of factors count towards our advantage

as a mobile food truck business operator. The fact that we have the
ability to determine where we want to sell our foods and drinks per
time gives us the leverage to make as much sales as we can make in a
day.

It has been observed that any organization that offers training and
consultancy services is always amongst the leaders in their industry and
we at Meals on wheels Mobile Food Company are set to tow along this
part because we want to become experts and amongst the leading
mobile food truck company in the whole of the Bangladesh.

We have put plans in place to facilitate continuous improvement on

what we do, because we know that is one of the factors that will be
give us competitive advantage in the market place. Another competitive
advantage that we have as a company is the size and condition of or
food truck.

We have been able to purchase a brand new retrofitted food truck with
all the required gadget. It is big enough to accommodate all that we
would need for the business, we are going to spend less on maintenance
and we can easily obtain approval from the appropriate authorities.

Sales & Marketing strategy : Food truck business is one business

that requires little adjustment on the field to be able to turn low
sales into great sales. For instance; if you are in a location where
the sale is very slow, you can decide to change location and move to
a place where you feel you can generate more income and sell more
of your foods. It is just a matter of driving to the location. There
are several ways that we intend adopting to promote our mobile
food truck business and here are some of them;

Through Direct Marketing

Submitting proposals and biding for contracts

Sales Reps

Online Marketing (via our official website, social media

 platforms and blog et al)

Revenue Sharing Business Partners (Networking with Event

Planners, Facility managers and Business Contractors at al) .

Our Pricing Strategy :

Generally food truck business sells meals, and snacks at a cheaper rate
when compared to the conventional fixed restaurant. We dont have
any plans to sell our foods, snacks and drinks beyond the prices that is
obtainable in the industry.

That does not mean that we will fall below standard when it comes to
the quality of our food. As a matter of fact, one of our strongest selling
points will be the taste and perhaps the quantity of our foods when
compared to our competitors.

From our market survey and feasibility studies, we are sure going to
make reasonable profits even when we sell a little below the average
price for package foods and snacks in the food truck industry,
especially if the location we intend selling our foods and drinks is not
far away from our base .

Payment Options : Our payment policy is all inclusive because we

are quite aware that different people prefer different payment options as
it suits them. Here are the payment options that will be available to
customers when they patronize us;
 Payment by cash

Payment via Point of Sale (POS) Machine

Payment via online bank transfer (preferably for those who would
need our consultancy services, training or purchase our franchise)

Payment via check (preferably for those who would need our
consultancy services, training or purchase our franchise)

Payment via Mobile money

Generating Funding :We dont have the intention of bringing business

partners outside the family to invest in the business, at least for the first
5 years of running the business that is why we have restricted raising
our startup capital to;

Generate part of the start up capital from my savings

Source for soft loans from family members and friends

Obtaining loan from the bank

N.B: We have been able to generate well over 60 percent of the money
we would need to kick start the business and most of the gadgets that
we purchased are based on installment payment for a period of time. As
regards our brand new retrofitted food truck we have the arrangement
to spread the payment for a period of 48 months.

Marketing plan

Our Present Business Situation: On Meals on wheels Mobile Food

Company is a Chittagong based food truck business that makes use of
food truck to sell various menu of foods; basically lunch meals to
different category of clients on the go.

Our food truck business has been legally registered and we have
acquired the required business license and all the necessary permits to
run this type of business in Chittagong. Presently we have our food
handling certificate, the appropriate drivers license, health inspection
certificate, kitchen insurance and proof of district-issued food manager
identification card amongst others.

All the required employees have been duly employed and trained. We
have our branded food truck (40 ft. trucks, with standard kitchen
facility and cooling system) and all accessories intact including the
supply we would need for a period of 2 weeks. We have a physical
office cum kitchen as required by the law in Texas. As a matter of fact,
we have been able to test run our services for 2 weeks in a small
community in Khulshi ,GEC Circle . and we are set to commence
fulltime operation from Wednesday, 31 August 2016.

Our Product and Services: The mobile food truck business might not
be too ideal an environment to prepare and sell high end and expensive
delicacies like; intercontinental meals et al. However, we at Meals on
wheels Mobile Food Company is set to go all the way to ensure that we
meet the basic needs of our esteemed customers. As much as lies within
our power, we will offer a variety of menus ranging from snacks, to
real meals, and soft drinks . Here is a sneak peep at what we plan to
offer;

We sell lunch

We sell snacks

We sell soft drinks and Fruit Juice, Lacchi ,Faluda etc.

We Sell franchise

We offer training and consultancy services on mobile truck food

business

Our Market Goals: First and foremost, our number one corporate goal
as a food truck company that is to become the number one choice
when it comes to food truck. In essence we want to become the market
leader in the food truck industry.
In view of that, we are set out to achieve the following market goals:

Sell a minimum of 80 percent of our foods and drinks everyday

within the first 6 months of operations

Sell out all our foods and drinks at all times (after 6 months of
entering the market)

Increase the numbers of people that patronizes our food truck

business by 10 percent quarterly

Increase the numbers of our food trucks to 5 functional food

trucks within 3 years of launching the business

What we aim to achieve from our market efforts are as follows:

To compete favorable with the leading food trucks companies in

the whole of Bangladesh .

Build a successful food truck brand so as to enable us start selling

our food truck franchise after 5 years of full time operations.

Pricing: Our target consumer is fairly price sensitive, and therefore

looking for a cheaper, higher volume meal. Therefore, the companys
pricing strategy is to offer a nearly premium product at a value price
point. On average, our prices will be 7% lower than our competitors.
We will nonetheless retain a high profit margin due to our prime
location, low rent, and excellent supplier relationships.

There will be two pricing variations:

Retail: Full, retail price of products

Discounted: Customers who have been referred to our Special items

will receive a 10% discount on their food items.

Promotion:

Mailbox Flyers : In the first month of operation, we will get the whole
Bangladesh out through mailbox flyers. We will also involve our two
friends to hand out flyers at strategically placed locations throughout
Chittagong.

Sign Throwing: One of our 17-year old cousin has also volunteered to
theatrically throw a sign around on a highly trafficked street near our
location for the first week of our opening.
Internet Marketing : Marketing through social media will be critical to
the success . We will use the traditional social media channels such as
Facebook, Twitter, and Instagram. We will offer a 2% discount if they
like our social media pages and like our special item that we offer in
this page .
Distribution : Our only distribution point is our food truck located
on Khulshi street . In the future, we have plans to sell through our
suppliers and farmers markets in Chittagong. If demand begins to
outpace supply, we will consider opening an additional food truck.
Regardless, we intends to maintain strict control over distribution
to ensure quality.

Our Target Market :Although food truck business is business concept

that is designed for everybody especially the average person on the
street or on a construction site, but statistics has it that the biggest
buyers of foods from food trucks are young adults and parents with
children at home. As a matter of fact, people that fall within the age
range of 25 to 34 are the largest consumers of snacks and fast foods
from food trucks. They spend an average of 7500 tk. per month.

The idea of starting a food truck business is to sell food and drinks on a
mobile truck in areas where people find it difficult to access a
restaurant, areas such as construction sites, sporting event centers,
camp grounds, and beach at al. We are also going to take advantage of
places like campuses, office complexes, military bases, mechanical
village, industrial parks, farmers markets, cinemas, and religious
centers. These are the factors that will guide us when choosing a
location for your food truck business.

SWOT Analysis : As a team together with our paid business consultants,

we have been able to look both inward and outward, as well as
critically assess ourselves and business ideas to know if we are truly
ready to launch our mobile food truck business in Chittagong.

No doubt, we have a lot of factors working in our favor but at the same
time we have some factors that we must contend with if we intend
becoming the number one brand when it comes to mobile food truck
business in Chittagong and the whole of Bangladesh. Below is a
summary of the SWOT analysis that was conducted on behalf of Meals
on wheel Mobile Food Company.

Strength

Aside from the trainings that have been acquired, as well as the hands
on experience attained over the years prior to starting Meals on wheel
Mobile Food Company, our strength lies in our financial capacity and
determination to succeed in the business at all cost.

Our products are simple, yet highly desired by foodies in Chittagong.

We also offer larger portion sizes than our competitors at a lower price
point.

It has the capacity to meet the needs of well over 500 customers per
day. Our strength also lies in the fact that we have relationship with
brand experts who are working almost for free for us. With that, will be
able to build our brand to a level where we can start selling franchises
and offer trainings and consultancy services on mobile food truck
business.
 Weakness

The fact that we are planning to roll out our mobile truck business
alongside other similar business offerings like training, consultancy
services and sale of franchise could distract us from concentrating and
channeling our energy in one direction. We are quite aware of that and
we are working towards blocking any area that will sap our energy and
make us under performed in our core business area sale of foods and
drinks from a mobile truck.

Opportunities

The opportunities that we stand to leverage on are much. The fact that
we are not tied down to a location is indeed a good opportunity for us
to grow our business to the level we want to grow it to. For example;
we can afford to trade foods, snacks and drinks in more than two
locations within a day. It is all about knowing when to arrive and leave
for another location.

Threat

There is hardly any business venture that doesnt face its own threat.
Regarding mobile food truck business, one of the threat that we may
likely face is; vehicular traffic in key cities. Traffic can delay one and
as a result of that one may get to the location where one intend selling
the foods and drinks late- this could be when the lunch break is over
(basically for organized events). Yet another threat is; the government
policies, which could also pose a great threat to the mobile food truck
industry.
 Marketing & Sales

Sources of Income

Businesses that do pretty well are businesses that have more than one
source where they generate revenue. It is risky to run a business where
you can only generate income from just one source. The truth is that if
anything goes wrong with the source of income, the business might
likely collapse. The big picture we have for Meals on Wheel Mobile
Food Company is to generate income from the following sources;

Sales of launch (meals)

Sales of Snacks

Offering training services

Offering consultancy services in line with our business goal

Sales of drinks

Sales of our franchise

Sales Forecast
It is important to state that our sales forecast is based on the data
gathered during our feasibility studies and also assumptions. This is for
sales projections based on what we saw.

Lunch:

1000 lunches per day (on average), 12 months per year

Tk. 100 per person on the average

Snacks:

1500 snacks per day, 12 months per year

Tk. 50 per person on the average

Sales of Drinks and Water at al:

On the average over 80% of people who purchase lunch (meal) and snacks would
normally consume drinks as well.

Tk.15 for a bottle of coke

This equates to 2000 drinks in a day when you multiply 2000 by 15 we will
make an estimate of tk. 30000 daily from the sale of drinks alone

N.B: The possibility of the figure to increase or even reduce cannot be ruled out.
Since most of the figures quoted above are partly based on the report from our
market survey and feasibility studies and partly on assumptions .

Our Pricing Strategy : Generally food truck business sells meals, and
snacks at a cheaper rate when compared to the conventional fixed
restaurant. We dont have any plans to sell our foods, snacks and drinks
beyond the prices that is obtainable in the industry. That does not mean
that we will fall below standard when it comes to the quality of our
food. As a matter of fact, one of our strongest selling points will be the
taste and perhaps the quantity of our foods when compared to our
competitors.

From our market survey and feasibility studies, we are sure going to
make reasonable profits even when we sell a little below the average
price for package foods and snacks in the food truck industry,
especially if the location we intend selling our foods and drinks is not
far away from our base.

Our Unique Selling Point: What Makes Our Food Truck Company
Superior to Our Competitions

We are quite aware that in order to gain market

relevance in the food truck industry, we must come up
with unique strategies that will stand us out in the
industry.

In essence, our unique selling point cum value

proposition is geared towards selling our foods and
drinks at prices a little below what other restaurants are
selling. Another idea that will give us leverage in the
industry is to ensure that our food truck is a one stop
mobile restaurant; we will engage in the sales of
varieties of foods, snacks and drinks

Over and above, we will not at any time compromise in

the quality and quantity of our food. Our quality control
office will be made to always up the game as far as our
food quality is concern.

The Benefits Our Client Stand to Gain When They Patronize Our
Foods and Drinks

We are quite aware of the competitions that exist in

restaurants industry in Bangladesh hence we were able
to conduct a thorough feasibility studies and market
survey so as to enable us penetrate the market and also
generate the required daily sales that will guarantee that
will grow as projected in our business plan.

In view of that, here are the benefits our customers and

potential customers stands to benefits when they
patronize of foods and drinks:

Good quality and healthy food and drinks at all

times
 The best price / deal they can get within Texas and
neighboring states

Flexibility when it comes to making choices for

foods and drinks

Availability of takeaway packs (free of charge)

Excellent customer service experience from our

highly trained employees

Our Customer Retention Strategies (Ways to Improve Our

Customer Experience)

The success of any business is directly proportional to the numbers of

repeated business they are able to generate. If a company is able to
achieve over 60 percent retentions the company will sure experience
huge turn over. We have perfected plans to improve our customer
experience from time to time.

These are the ways we intend utilizing when it comes to improving our
customer experience so that we can create a good impression and
generate repeated sales from them:

Ensures that our food and drinks taste good and delicious at all
times
 Ensure we get feedbacks from our customers at all times

Give our customers the flexibility to choose what they want.

Make use of mobile Apps to communicate the locations or our

food truck per time to our customers and potential customers

Make use of effective customer relationship management (CRM)

software to effectively manage our clientele base.

Ensures that we carry our clients along when making decisions

that directly affect them.

The Possible Ways We Intend Offering Incentives to Our Customers / Clients

(Bonus, Discounts, etc)

Part of our marketing strategies which is clearly stated in

our business plans is to ensure that we offer our
customers incentives in order for us to retain them and
of course continue to generate repeated sales from them
and also to attract new customers. We know that if we
are going to win our own fair share of the existing
market, then we must be willing to outsmart our
competitors.

In view of that, we will ensure that we sell our foods and

drinks a little bit below the average price in the industry
while still maintain good quality and quantity of food.

We will create a loyalty plan that will enable us reward

our loyal customers. Rewarding them could be giving
them discounts on every purchase they make and also
giving the gifts during special occasions

After Sales Service and Customer Support

Well the nature of our business does not warrant that we offer after
sales services or customer supports but we will ensure that we try as
much as possible to always get feedbacks from everyone that purchase
our foods and drinks. With that we will be able to know how to meet
their needs.

We will ensure that we open several communications channels such as

email, telephone and social media platforms so as to enable our
customers communicate to us or lodge their complaints.

10 Possible Questions We Intend Asking Our Customers During

Our Market Survey:

1. These are the 10 possible questions we are going to put forward

when conducting marketing survey on our customers / clients:
2. Are you satisfied with the taste and quantity of our foods?

3. If you are not satisfied with the taste and quantity of our food
what areas would you want us to improve on going forward?

4. What time of the day would you want our food truck to be
stationed in your location?

5. How would you want us to communicate with to you when our

food truck will arrive at your location? Text messages, e mail,
or via mobile apps (BBM, twitter, WhatsApp at all)

6. How much are you willing to pay for a pack of breakfast and
lunch?

7. Is there any food or drink that you would prefer that is not in our
menu? If yes please list them.

8. Aside from food and drinks, would you also prefer to buy snacks
and ice cream from us?

9. If you are to change one thing in Food Truck Company what

would that be?

10. Can you comfortably recommend our foods and drinks to

your family members, friends and colleagues?
11. Are you satisfied with our customer service delivery? If not
what areas would you want us to improve on?