What Your Food Truck Business Model Must Answer
There is very little consensus on exactly what every food truck business model should include. Some feel it should cover every detail of the truck’s operation, while others believe it should simply answer the question of how you intend to make money from your truck. You can create a business model that is specific enough to avoid being reductionist but selective enough not to overwhelm by answering these three questions:
- Why would someone want to buy something from your truck? Identify your customer value proposition.
- How will you make money selling it? Articulate your profit model.
- What, exactly, are the important things you need to do to succeed with the plan? Identify which company resources and which processes are essential to delivering your customer value proposition.