Business
Analysis of a Proposed New Business: A High School-Area Food Truck
General Overview and Costs
A high school located on a busy intersection and with a business parking lot across the street provides the perfect opportunity for a food service venture operated from a food truck. With substantially lower overhead than a traditional restaurant and a typical focus on quick, volume-oriented service of a limited product selection, catering primarily to the high-school lunch crowd would be ideal for a food truck business (Lagorio, 2010; Mealey, 2012). Offering standard "American diner" fare such as hamburgers, French fries, other hot and cold sandwiches, and salads, both food preparation and customer service can be streamlined in order to reduce costs and increase profitability. Startup costs will also be minimal, making a food truck business much easier to get off the ground and bring into the black (Lagorio, 2010).
A decent used food truck can be obtained for approximately $30,000 (Mealey, 2012). Permitting and licensing costs will not be substantial, with an estimate of $1,000 likely far higher than needed, but leaving some wiggle room in the budget. These will be the only fixed costs of operation. Variable costs will be based entirely on the amount of food prepared and sold, and economies of scale will definitely apply (i.e. ordering more raw food materials from suppliers will yield cheaper per-unit prices). An initial purchase of $3,000 worth of food should be adequate for the first few days of operation; because most items will be perishable, ordering larger quantities and warehousing is not feasible. Other supplies and maintenance will add another $5,000 in the first few months of operation, making $40,000 an adequate amount of startup capital.
Revenue, Profit Maximization, and Marginal Cost/Revenue
The location and business type were selected in tandem, with a specific eye towards immediate and ongoing revenue increases due to the availability of a large and relatively untapped market. This strategy will not be enough in and of itself to guarantee profitability and success for the venture, but it will definitely contribute to revenue increases and help to ensure an effective use...
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