I’ve written numerous articles on writing a mission statement. This is not one of them. Rather than examining your food truck mission statement, today I’ll take a look at a food truck’s Unique Value Proposition (UVP). Contrary to popular belief, they are not the same. Your UVP may be in line with your mission statement, but they are not one in the same.
Differences Between Mission Statement & Unique Value Proposition
Being successful in the food truck industry isn’t just about being valuable; it’s about being unique. A UVP “sells” your food truck because it differentiates it from the other trucks in your market.
- What does your truck bring to the table that others do not?
- How does someone know that you’re good at what you do?
- What do you specialize in?
A Unique Value Proposition is an inherent promise of benefit that a food truck gives its customers or employees. That value is usually measured in terms of “benefit minus cost.” A large part of determining value lies in comparing alternatives. A Unique Value Proposition communicates the unique contribution your truck is able to provide to your market in a way that is different from your competitors.
Understand The Competition
You need to understand your competition and be able to recognize where you stand compared to them. While a food truck in a smaller market may not have to dig as deep. If you’re the only food truck in town selling your cuisine, your point of differentiation may be as simple as stating that you are, indeed, a food truck serving your cuisine.
If there are 5 food trucks in your area selling the same cuisine you need to be the one that stands out in some way. Perhaps you’ve been in business the longest, or you’re the least expensive, or you’re the most experienced with certain dishes. In more saturated food truck markets, a truck has to answer less about the “how” and more about “how unique.”
Keep in mind that your food truck UVP doesn’t have to appeal to everyone. It does have to ring true with your target market. You need to hone in on your prospective customers. If you’re appealing to them, then you’re food truck is going to be remembered. Unfortunately, there will always be a portion of the population that ignores you because they just aren’t interested in your cuisine, but that’s okay.
Still not sure what your Unique Value Proposition is? It may be easier to look at your UVP from outside of your owner’s perspective. What are other people’s perceptions of your food truck…and how it differs from other trucks in town? You’re looking for a statement that is powerful enough so that someone describes your mobile food business in that very same way that you do. In other words, when someone explains your truck to someone else, what do they say?
The Bottom Line
Where there’s a UVP, there’s a point of differentiation, communicated clearly, in a way that someone can personally identify with. Once you’ve identified your UVP, everyone in your food truck organization needs to know what it is and understand it. They need to communicate it to everyone they come in contact with. A great Unique Value Proposition is the complete answer to the “Why choose your food truck?” question.