As far as starting a small business is concerned, buying a food trailer and making wonderful food seems fairly straight forward. As with every business, there can be tough hurdles along the way. We have compiled a list of common pitfalls you should avoid in order to be on the road to success.
Avoiding these pitfalls should steer you in the right direction to succeed with your food trailer business.
Lack of identity
If there is one thing that separates the successful food trailer companies from the failed ones, it is a strong identity. A strong brand identity can increase recognition, help you stand out from the competition and build your reputation.
To do this you should have a memorable logo, distinctive brand colours and tone of voice, which will build an easily recognisable identity to help your customers recall the mouth watering experience. A unified customer experience will also build engagement online and across social media, generating word of mouth to create stand out within a crowded market place.
Poor inventory management
Without traditional overheads associated with running a restaurant, it is easy to overlook budgeting for stock. It is important to plan in advance for demand to avoid wastage or being at risk of running out of food or drink.
Make sure you do your research, keep an up to date sales record and keep any eye on waste or under stocking. This will ensure you can achieve maximum profit.
Inadequate market analysis
Not carrying out extensive research before planning all aspects of your business can carry risks. These include incorrect pricing, selling food that isn’t in demand, and ineffective branding.
You should research your audience, their interests and disposable income. Research should be an ongoing process that shouldn’t be overlooked. Being on top of consumer and food trends will be vital in helping your business stay relevant and profitable.
If you've got any advice you'd like to pass on, please comment below to share your experiences.