There’s no doubt about it — a food cart franchise seems to be the most popular type of business investment there is today. Affordable, accessible, and with plenty of brands available for franchising, there is no running out of options if you do decide to get into the food cart game.
One thing you can be sure of, everybody loves food. If you’ve got the capital and your mind is made up, only a few other things need to be ironed out. Here are some tips to help you get started on your food kiosk franchise:
Franchising vs. Starting Your Own Concept
There is no better choice than the other. Each has its own set of pros and cons. If you choose to franchise an existing business, then you don’t have to worry about anything else as everything will have been planned out for you. This will of course cost a lot more as compared to starting your own food business. Your own concept, on the other hand, will give you more leeway on the conceptualization, branding, marketing of your business. If you are into this sort of thing, then you may find the whole process even gratifying. It will entail a lot more work but then again, it may cost a lot less than franchising an existing food business.
Making a Business Plan
All serious business owners have at one point their lives, written down a business plan. This will serve as a blueprint to your franchising journey. It will clearly outline your objectives, your company’s branding, marketing plan, and so on. It will serve as your navigation map and keep you focused. In the future, when you decide to take on investors or partners, this business plan will help you keep true to your vision. Not only will it help you run your business, it will help you grow it as well.
Focusing on one Product
The secret to a really good business is having that one stellar product that customers just can’t get enough of. Think of it as the specialty of the house. This stands true especially for the food cart business. What food product will be the star of your kiosk? French fries? Dimsum? Burgers? You can go with what’s trending or offer something more classic. It’s all up to you. Just make sure that your product is truly of good calibre.
Location, location, location
Having the best-tasting lemonade stand may not make much of a difference in a mall where you are competing with a hundred other drink stations. However, if you were set up in the street perhaps right next to a train or bus station where commuters get off, you may have more of a fighting chance. Think about what you are selling and what kind of target market your product is directed to. If you have the time and the patience, doing a survey of your target audience to find out where they frequent may also help you in choosing the best location for your food cart.
The food franchising game may be easy to get into. The options are endless and the market is always ready for a new player in the game. It all boils down to the choices you make and how much determination you have to turn your business into a smashing success.