Be sure that any numbers included in your funding request clearly match up with the projections and expectations you’ve outlined in other sections, as investors will carefully examine your document for inconsistencies.
Some business owners also create appendices with important documents to supplement their business plans.
Once you’re ready to complete this section, here are a few questions to answer: In the Market Analysis, you’ll explain your knowledge of the food truck industry and report on any research you’ve completed.
Be sure to include any data or statistics you have and explain how you arrived at the answers.
Though an appendix is not required, it is a good way to present your most important records to potential investors and to collect the information for yourself.
Your appendix might include: We’ve tackled a lot of sizable topics throughout the “How to Start a Food Truck” series, but writing a business plan is undoubtedly one of the biggest.As we mentioned before, the Food Truckr article “How to Write a Food Truck Business Plan” serves as an introduction to this week’s lesson. Small Business Administration also has great information for entrepreneurs who are just getting started with their business plans.We highly recommend reading it first and then referring back to it as a guide to understand why each of these sections matters. Each of the following sections includes a brief summary of the information that should be included and a list of questions or items to help you begin writing.Your business plan will probably take you several weeks to complete, so don’t worry about finishing it in one sitting.When you’re finished, you should have several small essays in each section. As we explained in “How to Write a Food Truck Business Plan,” the Executive Summary will appear first in the final version of your document — but you should write it last.Here’s what you need to include: Note: For most entrepreneurs, this section involves a lot of guesswork.That’s okay as long as you clearly indicate where you’re making assumptions and how you’re arriving at your figures.Consider these questions: Next up is the Organization and Management section — the place in your business plan where you’re going to explain who’s on your team and what each person’s roles and responsibilities include.Be as specific as possible while answering these questions: In the Services and Products section, you get to highlight all of the tasty goodness your food truck has to offer.First, let’s focus on the marketing aspect of that process: Now, let’s think about your sales strategy.Some business owners answer these questions twice, once with their “best guesses” and once with their “worst-case scenarios.” To answer these questions, you’ll first need to calculate your necessary profit margins and develop a pricing plan for your menu — a topic we’ll explain later this month in “How to Start a Food Truck”.