How to Increase Your Food Truck Revenue

Take a look at these useful strategies and help your food trailer business grow!  Enjoy the read!

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9 Strategies to Increase Your Food Truck Revenue

Bplans
by: Briana Morgaine

“This article is part of our Food Cart Business Startup Guide—a curated list of articles to help you plan, start, and grow your food cart business!

Here in Portland, Oregon, you can’t swing a stick without hitting half a dozen food trucks serving up a range of delicious options.

The craze for mobile eats has been on the rise. Between 2008 and 2014, industry revenue increased at an annual rate of 12.4 percent. While momentum has slowed slightly, food trucks continue to be a profitable restaurant business model.

However, to be as profitable as possible, you’ll need to strategize. It’s not enough to buy a truck and offer a few of your favorite recipes. Here are 9 solid strategies that will help you bring in more money, attract more customers, and grow your food truck business.

1. Create a solid, memorable concept
Your food truck should have a cohesive design, a clever name, an established brand, and a unique offering.

2. Offer something no other food truck is offering
To make more money as a food truck, you’ll need to find a specific food truck niche that no other cart is occupying.

3. Offer mobile ordering and payment
Beyond being found by third-party food truck locator apps, you might want to consider creating an app specifically for your food truck. The process may sound intimidating, but in reality, it’s relatively simple. Beyond that, making sure your website is optimized for mobile use is an absolute must.

Finally, if you really want to stand out, consider offering mobile payment and mobile ordering options.

4. Change or add to your menu seasonally
To bring in more customers and make more money, consider varying your menu seasonally.

5. Partner with other local businesses
Consider approaching nearby businesses and dropping off menus, or partnering with offices and offering lunchtime specials (potentially with delivery).

6. Cater weddings, parties, and office events
Food truck weddings are especially popular, as they are a unique, less-expensive dining alternative. From a consumer standpoint, food truck weddings are incredibly appealing, as they can cut food costs per person

7. Attend local festivals
By attending local fairs and festivals, you’ll be maximizing your visibility and positioning your food truck where crowds of hungry diners will be congregated.

8. Grow your social media presence
You’ll be hard-pressed to find an industry where social media marketing isn’t recommended. However, the fast-paced nature of the food truck industry makes having an equally responsive, up-to-date social media presence of huge importance.

9. Offer delivery
Expanding beyond the confines of your truck might seem like a big step, but offering delivery is a great way to increase sales.”

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5 Ways To Increase Profitability On Your Food Truck Today

Mobile Cuisine

“Increase Profitability On Your Food Truck Today

Improve your purchasing system
Food costs are one of a food truck’s biggest expenses. If handled well, they will be a key factor in your success. If handled poorly, they can make it impossible for your mobile food business to make any money. Good food costs start with good ordering, which is largely dependent on how useful your inventory is.

The goal of purchasing is to have just what you need. This means when you need it, at the best price you can get it for. Every purchase should be determined by your menu, and your anticipated amount of business. Ordering things you don’t need, especially if they are perishable, is a careless and expensive mistake.

Integrate ingredient usage throughout your menu
An often overlooked step in a food truck’s success is a menu that contains items that come close to 100% utilization of an entire product. This is not something most food truck customers will ever be aware of. But for increased profitability it’s something you need to pay a lot of attention to.

If you serve chicken in one of your entrées, think about buying whole chickens and using the legs and thighs for other dishes and the remainder of the carcass to make stock for soups or sauces. Not only will you not waste a perfectly good product, your sauces will taste a lot better than the truck around the corner that uses store bought stock.

As anyone that has ever worked in a kitchen knows, processing vegetables almost always results in scraps that can be used in something. Using these scraps for stocks, sauces, garnishes or even appetizers, is a lot better than throwing them away.

Know your cost for every item on your menu
A food truck owner needs to know that not all of the items on your menu are created equal in terms of profitability. Unless you know exactly what you’re paying to create each dish, you don’t really know what the money is made. This will help you direct your service staff which items they suggest more often, which items you should raise the prices on, or which items you might consider eliminating from your menu.

Steps to knowing your menu costs:

Update your inventory list with accurate, current prices.
Understand exactly how much of each ingredient costs. This includes everything in a dish (use Edible Portion costs rather than As Purchased costs).

Raise prices when you need to
So far we’ve touched on how to increase your profit by keeping our expenditures in check. More often than not, this is the way to go. Most of your customers won’t hold it against you if you become a more efficient operator, especially if it results fresh, consistent dishes. Unfortunately, in the food service industry, prices must rise.

When your food cost increase, no matter much you sell, you won’t make up the difference in volume. When raising prices on select items that your customers will be able to relate to. This way it’s more clear that you’re passing on some hard costs and not just being greedy.

Offer regular, profitable specials
Including specials regularly on your food truck menu is a good idea for a few reasons. Not only do they keep things interesting for you and your staff but they are a great way to utilize product that might go to waste.

Take the time and effort to cost the specials out, so you’ll know how to price them. Don’t underestimate the importance of making sure your service window staff is familiar with the new dishes.”

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Do you need a new kitchen food trailer?  Contact us!  We design bespoke food trailers and trucks to suit your specific requirements.

Hire A Food Truck For Your End Of Year Party

There’s a good chance when you think of a food truck, you think of casual street food you eat with your hands. But food trucks aren’t just about those messy streets eats anymore. Today, there’s a whole new explosion of high-end food trucks that serve fresh, thoughtful dishes. Which is why more and more people are choosing to have food trucks at their party instead of a traditional caterer. Not convinced? Read on to find out why you may want to hire one (or three) for your next event.

There’s No Shopping, Prep Work, or Cooking

Sure, it can be rewarding to cook and bake everything you want to serve at your party… But it can also be time-consuming, expensive, and stressful. Now, instead of spending the entire week before your party at the grocery store and in the kitchen, you can focus on things like décor, music, and having a little extra time to yourself.

There’s a Lot Less Clean Up

You know what not prepping, cooking, and serving means? That’s right: A lot less clean up. You’ll still be serving your guests fresh, delicious food. Just without the chaos of a dirty kitchen before, during, and after the party.

You Can Serve Just the Food You Love

Caterers often only offer limited menus and even though they’ll often have something you like, you can’t focus on your absolute favorite foods. Whether it’s pizza or tacos or empanadas, there are food trucks that serve pretty much anything you could want. And there are also trucks with fairly extensive menus, so that you can do an entire Mexican menu, not just tacos or burritos.

Food truck food - Custom food trailer

You Can Offer Several Types of Cuisine

Want to serve your guests Neopolitan-style pizzas and tasty barbecue? Bring in more than one food truck to accommodate larger crowds and a variety of taste buds. You can even do one truck for “appetizers,” a different one for the main course, and an ice cream or doughnut truck for dessert.

Set Up is a Breeze

Food trucks are used to showing up and setting up in very little time. As long as you have an area marked off for them (considering using orange cones), they can pull up, park, and be serving food in under an hour.

The Food Is Fresh

Whereas caterers often have to make big batches of food that sit in chafing dishes for who knows how long, most food trucks are making the food to order, which means it comes out hot and delicious for every single guest.

It’s Less Formal… In a Good Way

If you’re doing a sit-down dinner or even a buffet, it typically means that all of your guests are eating a certain time. A food truck, however, means that guests can eat what they want, when they want, which removes some of the formality and means guests can feel free to mingle and be spontaneous from the beginning of the event until it’s time to go home.

Perfect for Outdoor Locations

Everyone loves an outdoor party… Except the caterer who to figure out how to set up an outdoor kitchen, something that’s pretty difficult to do if there’s no electricity. In those cases, food trucks make perfect sense as you can have your party in a location that doesn’t have a traditional kitchen.

You’ll Need Fewer Servers

You’ll still want to have waiters wandering around to pick up dishes, pass hors d’oeuvres or champagne, and making sure all of your guests have everything they need. However, you’ll need a lot less people if you’re not asking the wait staff to bring multiple courses to seated diners.

It’s Incredibly Cost Effective

Catering company costs can get pretty crazy pretty quickly, where as feeding your friends and family from a food truck will be around $10 to $20 a person, depending on how many trucks and the cuisine. Still, if you do that math, that’s a crazy big savings considering you aren’t sacrificing the quality of food.

Consider a Bar “Food” Truck

Food trucks aren’t just for food anymore. Local bars, breweries, and wineries are getting in on the action as well. Consider hiring a truck to act as the bar at your event… You can even set up a little beer garden for guests to mix and mingle while they wait for their drinks.

Late Night Options

If your party is going all day, arrange for a food truck to show up late night to serve munchies and sweets. Your guests will be happy to have tasty bites to soak up the booze and it’s a good way to keep the party going just a little bit longer.

They Look Cute

Food trucks come in all shapes and sizes. There are retro-trucks, industrial-trucks, and Airstream trailers that have been turned into bars. Whatever the theme of your party, there’s a good chance you’ll find a food truck that fits both your taste buds and your style. And that’s totally Instagram-worthy.

Hire A Food Truck – Source – Thumbtack

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