To start a successful food truck business, you need to learn about your prospective customers, your competitors and the mobile food industry. The best way to gain this information is through food truck market research.
For those of you not familiar with the term, “Market Research” is the process of analyzing data to help you understand which types of menus or food products are in demand, and how to be competitive.
Accurate and thorough information is the foundation of all successful food trucks because it provides a wealth of information about prospective and existing customers, the competition, and the industry in general. It also allows vendors to determine the feasibility of their concept before committing any time or money.
How To Conduct Food Truck Market Research
Remember that conducting food truck market research will also provide valuable insight to help you:
- Reduce business risks
- Help build your food truck business plan
- Spot current problems in the mobile food industry
- Identify sales opportunities and revenue streams
Where To Find Information On Your Food Truck Markets
Before you start your mobile food business, you absolutely need to understand the basics of market research. The best place to do this is by digging through the following US government resources.
Thankfully for you the US government offers a wealth of data and info about businesses, industries and economic conditions that can aid in conducting your market research. These sources provide valuable information about possible customers and competitors in your area:
Additional Food Truck Market Research Resources
Various third party organizations gather and analyze research data about culinary business trends. Use Internet and database searches to find information related to the locations you plan to operate.
- Local food truck association
- Trade groups
- Business magazines
- Culinary institutions
RELATED: How To Determine Your Food Truck Target Market
The Bottom Line
Always remember that food truck market research can also be conducted here at Mobile Cuisine. We routinely provide up to date information on the mobile food industry as well as provide information on various markets throughout the country.
If you’ve already conducted food truck market research for your food truck and have additional resources that helped you, please feel free to share them in the comment section, our food truck forum or social media. Facebook | Twitter