Want to make your own business this summer? It seems at first a simple step to make, but it’s still a business. Stand up tall for a plan. Follow these steps to improve a strong business plan and create a strategy for your food service venture.

Develop a Business Plan

Your business plan is your plan of start. Developing a plan is an amazing way to be organized from the start. Here is the basic form your business plan should have:

Have a general Statement of purpose.

Your statement should be specific without going into small details such as equipment and costs.

e.g. “I want to sell the best Grill to Northern Beyrouth and I am going to target local festivals and cooking competitions.”

Develop goals and objectives.

Break your main goals the big ones, into smaller and more logic ones.

E.g. Instead of saying “I will have a big company in 6 months” break the large goal into smaller achievements like “I will have the design in one month. In the second month I will buy my equipment. In the third month, I will begin researching projects.”

 

Describe how your business will operate.

Think about the issues of whether you will work alone, with another family member or whether you will be hiring people from the outside.

Figure out the logistics.

These are the parts of your business that will cost you money during your work. Figure out what type of equipment you will need and how you will arrange it in your trailer or whatever.

Research possible financial resources

There are very few people who already have the capital to start a business, but there are many banks and financial institutions that can help you with a financial support or loan. Find out what options fits you.

 

Permanent vs. Mobile Concession Stands

Before you start vending your food or equipment, or whatever you are vending. You have to decide whether you want to buy on a permanent location or you want to deliver your food to your clients. Here are some Pros and Cons for both methods and ideas:

Permanent Concession Stand

 

Pros	Cons
Regulars: By having a fixed stand, a fixed location, you are more likely to have regular clients that will be loyal to you and come to you.	Time Commitment: Running a concession stand requires that you hold consistent hours every week.
Routine: Since your stand is in the same place every day, you don’t have to deal with extraordinary and not expected issues.	Vulnerability: You are tied with the ambiance and circumstances of the place where you are.
Normal Schedule: You can set the hours that you want.	Large Up-Front Investment: A fixed location may require an investment in larger equipment such as a restaurant range, charbroiler or fryer, or all three.

Mobile Concession Cart/Trailer

Pros	Cons
Variety: Every time you deliver your business you will have a great chance to meet a new client in events.	Unreliable Income: income can be very low if the event wasn’t as successful as you expected.
Part-Time Business: it does not require you attentions 7 days per week, you only take care of it when you have an event.	Physical Demands: If you have any kind of pain, this is not a good job for you, because you will push and doing many kinds of physical exercises. You may need to hire someone to do these things to you,
Independence: Go wherever you want, whenever you want.	Higher Risk and Lower Control: if you rely on an event and it does not work, you would be out of money suddenly.
Lower Initial Investment: starting a business using a mobile cart demands less investment, and in case of losing in this kind of business, you won’t be losing a lot of money.

Research before You Start

The best way to get the answer of any question related to any business venture is to get out there and do hands-on research. Here are some suggestions:

Search for concession stands

Look out for competitors who sell the same items, check their prices, avoid doing their mistakes and imitate them in a better way.

Talk with the peers

Some concessionaires may help you with some advice about their experience, their knowledge is your power. Know how to use it.

Talk with venue planners

Find out from them what they like and dislike in a concession vendor. Listen to them.

Develop a Strategy for Operations

Now, since you have a great idea about your business and everything, it is time to know how to make a strategy and operate it.

Plan your menu

You have to leave a signature that the people will come back for. Take into consideration the prices of ingredients that you will use in your menu.

Ensure that you have the appropriate equipment or vehicle

Once you have your menu planned out, you have to make sure that you are serving your food with clean and good equipment.

Arrange for storage and transport

You have to make sure your storage fit the size of your cart or trailer.

Find commercial space for food preparation

Check with local vendors to see where they rent commercial kitchen space and research rates for commissaries or commercial kitchens in the area.

Obtain the proper licensing and insurance

This is the time to start talking with local insurance companies to see what insurance options are best for your business. 

Develop a Marketing Strategy

Marketing is not about the giant posters and big board’s it is about how you attract you clients and keep them coming back for more. Consider the following aspects to develop your marketing aspects.

Decide who your target customer is

Every business has a targeted demographic. Choosing your customer will help you put the best menu and best prices.

 

Price based on location

If you are the only vendor in the area, you can charge your product more, but if you have many competitors you have to put competitive prices.