Evaluating Trends and Opportunities Paper
Autor: Drea McNeal • July 27, 2015 • Coursework • 1,329 Words (6 Pages) • 1,142 Views
Evaluating Trends and Opportunities
MGT/418
04/26/15
Evaluating Trends and Opportunities
In the following essay, there will be a discussion of the evaluation of trends and opportunities that are involved in the food truck business. An evaluation of the environmental, demographic, psychographic, and local geographic trends in San Antonio Texas will also be conducted. There will also be a discussion of a potential business opportunity, the risk, rewards and the feasibility of the business opportunity.
Trends of the Industry
In San Antonio Texas, food trucks are no stranger to the streets and neighborhoods. There was a time when food trucks were exclusive to night clubs and appeared mainly at night. But now the popularity of food trucks has grown immensely. There was a time when you could only find tacos in these food trucks, but now you can find different types of cuisines. You can find BBQ, Chinese, Comfort food, American, and even desserts. Really there are many other types, but too many to mention. There is definitely a market to get into the food truck industry so it made sense to create my love for food into a business.
There has also been a trend of going green and that is also something that would be incorporated into the food truck business. All paper products would be from recycled products, and Styrofoam would not be used at all. This would help the environment in more ways than one. We would also provide waste and recycling bins for our customers. There is also a local business that recycles cooking oil.
The food truck would operate during school and business hours as well as night time for the times we park outside of dance clubs (a very popular time to be out). Demographically speaking, the best locations to set up would be in business centers, college campuses, and high traffic shopping centers (these locations are best for the day time). The food truck will also set up during city functions such as Fiesta, Oyster Bake, Battle of the Flowers, and other city festivities.
Business Opportunities
The food truck industry has been around for over 100 years when pioneers used “chuck wagons” to buy food when herding cattle in the late 1800’s. “According to a new study, more than 4,100 food trucks are now open for business in nearly 300 cities” (Albert, 2014). With that being said, there is definitely room to grow and start a business in this industry.
The Traders Village Flea market has spots set up for food trucks, and it would be a great advantage to set up there during the weekends since there is only two other food vendors. Additionally, there are many places in San Antonio that allow food trucks to post up with any fees (provided that the truck has all of the legal permits to do so). Having multiple location options will bring in more customers since the food truck is not restricted to one location (like a brick and mortar restaurant is).
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