Midnight Snacks food truck can be a late-night dream for people who typically work between 10:00 p.m. and 6:00 a.m. Night owls and overnight, third-shift workers, often lack access to fresh meals that are available in regular, or fast food, restaurants during the day. After a thorough analysis of the local food truck industry, and the Peoria-area census data, it appears that the Midnight Snack food truck business could be fruitful and fill a current market gap. This section of the business plan will study the local food truck industry, secondary market data, the market base and a local survey gauging interest.
Industry Analysis
Food trucks have been around since the 1930s, and in many regions, such as the West Coast, have become staples …show more content…
They are using a truck that is colored with beautiful bright colors. There are two mobile trucks and each truck parks in a different location each week and a separate location on Saturday. Their goal is to serve delicious food early in the morning around 7 a.m. for pick up throughout the day, as well as late at night. Their main menu consists of breakfast sandwiches, breakfast burritos, eggs, and hash browns, to sloppy joes and hot dogs. They also offer a great variety of tots such as crispy, cajun, parmesan, and sweet potato. The price range for sandwiches is between $4.50 - S7.00, small bites from $2.50 - $4.75, and drinks from $1.00 - $2.50 (“Cracked Truck,” n.d)
Secondary Market Research: Peoria
Market research was performed using published information such as industry profiles, trade journals, newspapers, magazines, census data, and demographic profiles to analysis the market was also done for Midnight Snacks. The local area information below acquired from the Peoria, Illinois census data describes the market base population as follows (“Quick Facts, Peoria City,” n.d.):
• Population estimates, July 1, 2015, (V2015) - 115,070 (using main zip codes 61616, 61615, …show more content…
Tagging onto the beginning phase of the three existing food truck operators in the Peoria area, our food truck is unique in its hours of operation, and has the potential to scale up and franchise out to other cities with an underserved night shift population. Growth in the industry is at 9.3% nationwide, and with the new City Council approval, it is expected that the market will grow locally. With a large population of night shift workers from the three local hospitals and Caterpillar factories, as well as a thriving university population, Midnight Snacks is a great bet for a late night
Industry Analysis
Food trucks have been around since the 1930s, and in many regions, such as the West Coast, have become staples …show more content…
They are using a truck that is colored with beautiful bright colors. There are two mobile trucks and each truck parks in a different location each week and a separate location on Saturday. Their goal is to serve delicious food early in the morning around 7 a.m. for pick up throughout the day, as well as late at night. Their main menu consists of breakfast sandwiches, breakfast burritos, eggs, and hash browns, to sloppy joes and hot dogs. They also offer a great variety of tots such as crispy, cajun, parmesan, and sweet potato. The price range for sandwiches is between $4.50 - S7.00, small bites from $2.50 - $4.75, and drinks from $1.00 - $2.50 (“Cracked Truck,” n.d)
Secondary Market Research: Peoria
Market research was performed using published information such as industry profiles, trade journals, newspapers, magazines, census data, and demographic profiles to analysis the market was also done for Midnight Snacks. The local area information below acquired from the Peoria, Illinois census data describes the market base population as follows (“Quick Facts, Peoria City,” n.d.):
• Population estimates, July 1, 2015, (V2015) - 115,070 (using main zip codes 61616, 61615, …show more content…
Tagging onto the beginning phase of the three existing food truck operators in the Peoria area, our food truck is unique in its hours of operation, and has the potential to scale up and franchise out to other cities with an underserved night shift population. Growth in the industry is at 9.3% nationwide, and with the new City Council approval, it is expected that the market will grow locally. With a large population of night shift workers from the three local hospitals and Caterpillar factories, as well as a thriving university population, Midnight Snacks is a great bet for a late night