Food Truck Opportunities and Threats Essay

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Marketing

Opportunities and Threats in Order of Importance for a Food Truck Company

Discussions on Opportunities and Threats

Opportunities and Threats in Order of Importance for a Food Truck Company

Opportunities

Multiple expansion avenues - Many avenues of expansion that include expanding service hours, menu and packaged service

Change in Perception: A new and emerging food truck market that is driven by changing consumer taste and perception about street food and truck food

Low Competition - Being part of an industry that is unorganized on one hand and with not much competition on the other ("Company Background/SWOT," 2012).

Threats

Low Entry Barriers - A relatively new industry with low entry level barriers which can lead to sudden increase in competition

Weather - Outdoor service area means business is always under threat from inclement weather

Stricter Regulations - Stricter regulations pertaining to health and quality standards of food served by local and federal agencies

Discussions on Opportunities and Threats

Opportunities

Multiple Expansion avenues -- given the proposition that there is enough capital or adequate capital can be arranged for, a truck food company can expand its business in more than one ways. For example, the menu can be made exhaustive to cater to the palette of a variety of consumers.

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If the truck does business primarily in office areas, then it can expand to serve a number of cuisines as office locations tend to have people from varied cultures and countries. A food trucker can also join hands with a local business with a bar license to offer drinks along with food as a package which can help increase bills and attract more customers. Serving residential areas at night is another option of expansion that can be explored. Being a mobile business unit, a food truck can conduct business in more than one place during the day ("Food Trucks Are a Win-Win," 2012).

Perception change -- with rising concerns about the nutritional value of packaged and ready to eat food, customers are more inclined to go for fresh and healthy food. This change in priority is also accompanied with change in perception about freshness and healthiness of truck food. This gives a great opportunity for this business to flourish ("Food trucks enjoy unfair advantages as they scoop up lunch business," 2012).

Low competition -- being a relatively new phenomenon in the food industry, food trucks generally have lesser competition compared to….....

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