Learning how to start a food truck business is the beginning of creating a beverage and food truck business you’re proud of. After you’ve started the business, mastered customer satisfaction through customer experience, and learned how to maximize revenue, you might be wondering, “What now?”
The answer is, learning how to build a food and beverage truck business in new directions. From using restaurant tech to taking advantage of the best places to start a food truck business, there’s plenty you can work with. Read this BinWise blog to learn what you can do with your beverage food truck business in terms of growth.
How to Build a Food and Beverage Truck Business In Different Directions
Learning how to build a food and beverage truck business in different directions will involve everything you learned to create your truck business. You’ll lean into areas including:
- The cost to start a food truck business
- The types of food trucks and how they play into other types of businesses
- Inspiration from the best food trucks
- Food truck rules and regulations
- Food and beverage truck profits
- Beverage food truck marketing plans to expand and grow your business
You’ll need all that information to move your food and beverage truck business forward. Even if you enter into a new type of food service business, these tips, tricks, and solutions will come in handy.
8 Areas of Growth and Expansion
When it comes to how to build a food and beverage truck business into something more, there are many directions you can go. For this blog, we’ve zeroed in on eight options. These eight areas of growth and expansion are the best for taking what you’ve made a success out of and growing it.
8. Establish a Storefront Pop-Up
Establishing a storefront pop-up restaurant or bar is a great next step after owning a successful food and beverage truck. It can lead to venturing into other types of businesses later on down the road as well.
7. Expand as a Catering Business
Food and beverage trucks are perfectly situated to become catering businesses and mobile bars. There are many catering business ideas and types of catering events you can apply to your food and beverage truck.
6. Grow Into a Standard Restaurant
Building up into a standard restaurant is another excellent option. It can be built up from a storefront pop-up, or it can be the immediate next step after your truck.
5. Grow Into a Standard Bar
Building your business into a standard bar is the mirror choice of becoming a standard restaurant. You can enjoy the multitude of types of bars you can work with to expand your brand.
4. Open a Sidewalk Cafe
Opening a sidewalk cafe is another option for bringing the vibes of an outdoor food and beverage truck into a larger business model. You can start the process and test it out by offering seating outside your truck.
3. Franchise Your Food and Beverage Truck
Creating a franchise is one of the best ways to keep the brand of your truck going in the same way. It adds more trucks to share your menu items. Learning about how to franchise a food and beverage truck will help you start the process.
2. Team Up with Local Coffee Shops and Cafes
Teaming up with local coffee shops and cafes is a fast and effective way to branch out with your brand. Find businesses to work with, and share your menu items through them to reach a wider audience.
1. Partner with Schools
Partnering with schools, namely universities, is a unique way to find more business in a steady setting. The best way to do this is to work with schools to park your food and beverage truck around campus.
"Key Takeaway: These eight techniques and areas of growth can be leveraged in many ways. Overall, they give food and beverage trucks room to move around and outside of the industry."
Frequently Asked Questions About Building a Food and Beverage Truck Business
Building a food and beverage truck business into more than one truck takes work and can seem like a farfetched dream. With the right plans and an open mind, however, it’s more than possible. Our answers to these frequently asked questions show you how scalable a truck business is for future success.
What Is the Best Business Structure for a Food Truck?
The best business structure for a food truck is an LLC. This is because of the low costs and work of obtaining it, and also because of how flexible it can be. An LLC, or limited liability company, combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. This makes it incredibly easy to start and scale as your business grows.
What are Some Areas of Growth In the Food Truck Industry?
Some areas of growth in the food and beverage trucks industry include:
- Finding expanded business options in catering for weddings and other large events
- Teaming up with other food and beverage trucks to create a group people can find all together
- Collaborating with local businesses to build community
These techniques and areas of growth can be leveraged in many ways. Overall, they give food and beverage trucks room to move around and outside of the industry.
What Is the Growth Potential of a Food Truck?
The growth potential of a food truck and the industry is astronomical, with an expected growth of over $2 billion in the next five years. Food and beverage trucks are a growing business model for several reasons:
- Cost-effective options for a great meal
- Community-minded gathering spaces
- Unique food and drink options
- Support systems for small businesses
Overall, food and beverage trucks represent everything the up-and-coming generations care about in businesses. That sole factor gives them the growth potential they are experiencing. They can look forward to it in the future as more business owners learn how to rent a food and beverage truck.
How Do I Grow My Food Truck Business?
You can grow your food truck business through the ideas in this BinWise blog or through whichever channel makes the most sense for you. Your growth track will be different depending on what you’re selling and what you want for your business. The options are nearly endless, which is exciting, but will also take work and time on your part to figure it all out.
What are the Types of Food Service Businesses?
The types of food service businesses include:
- Cafeterias–including company cafeterias
- Catering businesses
- Brunch cafes
- Cocktail bars
- Fast food chains
- Hotel setups, including banquet halls with a banquet manager, buffets, and room service
- Movie theater menu concessions
- Coffee shops
… and many more! You can grow your food and beverage truck into one of these types of food service businesses, or embody them in your truck establishment.
Food and Beverage Truck Business Growth: Where Will Your Truck Take You?
As you learn how to build a food and beverage truck business into, well, anything you set your mind to, keep on learning. Come back to the BinWise blog, check out your competition, and stay up to date in the hospitality industry. There’s always more to learn to find greater success, grow your profits, and build up your business. Who knows where your food truck could take you?
While you’re learning about growing your business, reach out to BinWise and BlueCart. The BinWise Pro inventory program gives you peace of mind with a streamlined perpetual inventory system. BlueCart’s order management software simplifies your order management system.