Most food truck owners will tell you that working in the mobile food industry can be very rewarding and fun. You get to create things, help out others, and be rewarded for doing so. By running a food truck you often get to witness the joy you’re bringing your customers first hand. Today we’re going to help vendors use their everyday actions and creating revenue streams with them.
It is easy to focus on the stress of owning and operating a mobile food business and not the positive aspects. It can be a drag on you, especially the tasks in the business that nobody sees. Doing the books, putting together a marketing strategy, or maintaining your truck. Wouldn’t it be great if you could take all those behind the scene tasks and create revenue streams with them? Today we’ll show you how.
Creating Revenue Streams For Your Food Truck Business
Most food truck owners have written a business plan for their small business. In doing so, you’ve had to craft a marketing plan and over time, you’ve tweaked and honed it to make it even better. Look at the value in the marketing system that you built for your food truck plan, and look at how it can bring value to upstart food truck businesses and to the food truck community as a whole.
This is an opportunity use the by-products of the work you have already accomplished to start and operate your mobile restaurant. When you make something, you always make something else. You can’t just make one thing. Everything has a by-product. Observant and creative business minds spot these by-products and see opportunities.
So, are you doing the same for your mobile food business? Have you evaluated how the by-products of your truck can be used to add new revenue streams to your business? Have you developed your own system that could bring value? Are you educating?
Ideas to create revenue streams for your food truck:
- Write a book or blog.
- Create a cookbook.
- Distribute your homemade sauce or cookies to a local grocer.
- Consult for other food trucks or restaurants.
- Take the experience you create at your truck and bring it to new venues.
- Teach at a local community college.
- Speak with government officials.
- Partner with other businesses and take advantage of your mutual unique talents to benefit each other.
Chances are very good that you have a by-product in your food truck business that you’re not utilizing. Put it to work for you. If you can start creating revenue streams through it, that’s great, but also consider the impacts to your community as well.
The Bottom Line
For any vendor who values financial security in their mobile food business, creating revenue streams is no longer a luxury. It has become a necessity. Diversifying your truck’s income is crucial to protect yourself against the unavoidable ups and downs of the food truck industry. Because of the financial risks that come from relying on one source of income, consider creating at least one additional revenue stream to generate cash flow.