Running a food truck has a lot of challenges; dealing with the competition and staying competitive is one of the biggest ones. Food trucks exist in markets around the world, and what makes them stay competitive depends on their market’s conditions. However, there are some general rules of thumb can help food trucks focus on efficiency and maintain relevance to the customers in their markets.
Whenever consumer spending is slowing down, you need to defend your food truck’s market position and maintain your competitive edge. You have to always remember, diners don’t have to walk up to your mobile food business – they could always go to another food truck or head into a local restaurant.
Staying Competitive For Food Trucks
You need to remain mindful of consumer trends and do all you can to remain competitive. Here are some points to bear in mind for all food truck vendors
- Understand your strengths. Play up your food truck strengths and make them matter to your customers.
- Know the competition. Analyse your competition (mobile and brick and mortar), determine their deficiencies and exploit them.
- Work on your weaknesses. Close the gaps on your own deficiencies.
- Build differentiation into your brand. Continually create new points of difference.
- Step up your marketing. Make more effort to tell people who you are, what you sell and why they should buy from you.
- Understand your customers. Know your market, how your points of difference matter to them, and how to reach them.
- Be the best employer. Skilled, motivated staff underpin vibrant, growing businesses. But attracting them means more than paying a competitive wage.
The Bottom Line
The bottom line is that innovation is both a cultural and process oriented strategy. Only if a food truck vendor makes a conscious commitment to be innovative will their mobile food business grow and succeed in today’s economy.
Do you have any suggestions for other food trucks that are having troubles staying competitive in their markets? Share your thoughts on this topic in the comment section, our food truck forum or social media. Twitter | Facebook