So, you’ve been in business for a few years already. Things have been going well, but you’re wondering: what are the next best steps my company can take to remain profitable?
As you likely already know, a business is nothing without a vision for the future. Weekly goals, monthly goals, quarterly goals, and beyond are all key to a successful business that evolves with the times and stays relevant.
But how do you come up with those goals and make sure they’re mathematically sound? A strategic business plan, of course!
ProjectManager.com defines a strategic business plan as: a strategy that’s devised to achieve overall goals set by a business, accounting for resources, market restrictions, stakeholder demands and more. And it’s something that every successful business writes up and sticks to to remain successful and competitive every 3 to 5 years.
But how can you write a strategic business plan up for yourself? And what exactly should you include in a strategic business plan, anyway?
Luckily for you, today we’re going to go over every single component that needs to be in a strategic business plan in the best way we know how: a sample strategic business plan.
Sometimes, the best way to learn how to do something is by seeing an already completed example, and that’s the exact goal of this post: to show you an already completed, thorough strategic business plan so you can better understand how to craft your own.
And so, without further ado, here is a complete Strategic Business Plan Sample for the “Hamburger Joe” Food Truck including Table of Contents, Executive Summary, Company Description, Company Vision, Mission Statement, Business Objectives, Keys to Success, Products and Services, Marketing Research, Management Plan, Marketing Strategies, SWOT Analysis, Funding Request, Financial Summary, and Exit Plan.
Table of Contents
Hamburger Joe is a food truck business that will offer hamburger meals 7 days a week during lunch, dinner, and late-night hours at various locations around Dallas, Texas. We will sign contracts with small and mid-sized businesses for their events, meetings, and softball games along with serving various nightclub venues around town, along with frequenting business centers and business parks. We will operate 3 shifts – Lunch from 11am to 2pm, Dinner from 5pm to 8pm, and Late Night from 11pm to 2am. We will also participate in annual events and festivals like the State Fair of Texas as well as catering services.
We will be offering hamburger meals made from 100% ground beef for lunch, dinner, and late night customers. Wait time from order placement to completion is around 10 minutes on average. Hamburgers can be topped with cheddar cheese, bacon, lettuce, tomato, pickles, red onions, bell pepper slices, and our secret sauce. Other products include French Fries, Potato Chips, Can Sodas and Bottled Water. Meal prices start at $5.99 and go to $9.99. We expect to average 45% profit after expenses.
Our target market includes people aged 18 to 50 years old including blue collar and white-collar workers with low to medium income. We are also targeting families, friends, and late-night crowds.
Furthermore, we will target any large gatherings happening around Dallas that will afford us with the opportunity of selling meals and increasing our regular customer base.
As per industry analysis, there are currently 23,873 active food truck businesses in the US. The mobile food truck industry earns $2B+ in revenue per year in the United States. The growth of the food truck industry is outgrowing the overall commercial restaurant industry, at 5.4% vs. 4.3%.
Hamburger Joe will run different marketing activities and campaigns to attract new customers and retain old customers. Hamburger Joe will encourage its customers to use our mobile food service which is unique from our competitors as we ensure farm fresh food ingredients, reasonable prices, and fast, friendly customer service. Our goal is to provide a fresher, more health-conscious alternative to unhealthy franchised fast food chain options by offering higher quality food and a more unique, memorable experience with a comparable wait time and price range.
Hamburger Joe will also use online social media marketing to actively promote our mobile food services on Facebook, Twitter, Instagram, and YouTube. This might involve an ongoing campaign promoting the mobile food service concept through online PR, groups, and networks. Customers from all over Dallas, Texas will be encouraged with incentives to promote Hamburger Joe to their networks of friends and work colleagues. We will also advertise on Google to obtain catering contracts.
Hamburger Joe is requesting funding in the amount of $71,700 to cover start-up costs. These costs will include obtaining and renovating a food truck (approximately $55,000); printing preliminary marketing materials (approximately $2,000); developing and launching appropriate online ads on Facebook, Instagram, YouTube, and Google (approximately $10,000); staff uniforms (approximately $1,700); our website domain, design, and launch (approximately $1,500) and our initial inventory (approximately $1,500). All of these costs are broken down in more detail below. We expect to repay the funds within 24 months on a monthly payment schedule at an agreed upon interest rate.
Hamburger Joe is a food truck business that was started and registered as a Limited Liability Company on January 1st, 2021. Our main products are hamburger meals which include a hamburger, order of fries and your choice of a can soda or bottled water. We will offer hamburger meals during lunch time hours, dinner time hours, and late-night hours at various locations around Dallas, Texas. We will visit multiple sites during lunch time and during dinner time to sell our hamburger meals. We will also be offering contracted catering services for events and companies in the Dallas area.
Management & Structure
Hamburger Joe is managed and operated by a team of highly experienced food industry professionals, “Joe Hoffman and Susan Hoffman”, who will run this food business as a Limited Liability Company and will purchase liability insurance to mitigate any risk.
Owners have the following expertise and skills in mobile food and restaurant industry:
- Creative menu design
- Guest relations
- Purchasing and inventory control
- Containment and reduction
- Staff leadership and training
- Food and kitchen safety
- Small business development
- Highly effective communicators
- Leadership and strong management skills
- Product development
- Business operations
- Budgeting expertise
- Employee relations
Being a mobile food truck, Hamburger Joe will position itself to profit in various places around Dallas, Texas. Locations we intend to frequent and/or be contacted by for contracted catering services include:
- Construction sites
- Business parks
- Night clubs
- Large gatherings
- Sports clubs
- Corporate events
- Private Parties
In the next 3 to 5 years, Hamburger Joe will grow to multiple food truck operations across the Dallas-Forth Worth metropolitan area. Our goal for the upcoming next few years is to at least quadruple our food truck operation size; with at least two Hamburger Joe food trucks dedicated to daily catering event contracts, and the other two food trucks operating in well-known areas in the Dallas area on a reliable schedule that customers can count on and look forward to i.e. every Wednesday outside of Galleria Dallas. Long-term, within the next 10 years, we want to create franchise opportunities for other mobile food operators and grow Hamburger Joe’s franchise business statewide and eventually nationwide where we will retain a royalty percentage of goods sold. We will grow our executive level employee team to include franchisee trainer/mentor roles who will periodically travel to new Hamburger Joe food trucks to provide training, guidance, and brand consistency.
Hamburger Joe will be a place to get delicious food while making memories at affordable prices. We are the best alternative to unhealthy fast food franchises as we use fresh, local ingredients which better support the local Dallas economy and our clients’ health. And the best part is, our hamburger meals are delicious and ready to eat in 10 minutes or less.
At Hamburger Joe, we give our clients more than a meal, but an experience. We look forward to creating our very own, unique Hamburger Joe community, where employees recognize customers and customers are excited to come back with new friends for our community. As we grow, our goal is to give back to the people of the Dallas area with our mobile food services.
• Hamburger Joe will establish sustainable profitability by earning revenues of $1,000 a day
• Hamburger Joe will gross 45% profits by managing and closely overseeing food cost and operating expenses
• Hamburger Joe will obtain permits for main site locations and individual catering and event contracts to reach an annual revenue of $365,000 by building a loyal customer base in Dallas, Texas, and beyond.
• Hamburger Joe will stay focused on building our brand of Hamburger Joe burger meals and not get distracted by adding various other mobile food products and services every year. We sell hamburgers not hotdogs; that’s what we’re known for, that’s what we’re good at, and that’s what people recognize us and remember us for.
• Hamburger Joe will achieve 10,000 visits to the Hamburger Joe website in the first year and get 300 leads in 1st quarter of 2021 through the website.
• Hamburger Joe will promote, always protect and maintain our image as a first-choice mobile food business with high quality taste and market competitive rates.
• Hamburger Joe will make sure that each food product served is of excellent quality and delivered with great customer care.
• Hamburger Joe will expand our brand and food truck services into other cities and states; eventually opening multiple franchises, and increasing our customer base at state level, ultimately reaching new markets.
• Hamburger Joe will create a franchise business plan to take Hamburger Joe nationwide after 5 years of business.
• Hamburger Joe will increase the customer base by at least 30% by the end of 2022.
• Hamburger Joe will improve customer satisfaction and strengthen customer’s relationship as a retention strategy.
• Hamburger Joe will provide the highest quality of hamburger meal options to the target audience as quickly as possible, without sacrificing quality.
• Hamburger Joe will use the most hygienic methods in our kitchen, meeting standards of USA food regulatory bodies.
• The Hamburger Joe team will attend courses on preparing food safely and efficiently; and managing cost elements to increase profitability.
• Hamburger Joe will meet foodies’ objectives, while exceeding their expectations.
• Hamburger Joe will provide top-of-the-line training, benefits, and incentives for team members, to encourage a long term commitment.
• Hamburger Joe will secure a promising review from at least four Dallas based bloggers each year.
• Hamburger Joe will increase customer base through referral programs and weekly email and texting campaigns.
• Hamburger Joe will always use the safest and most efficient methods when preparing food.
• Hamburger Joe will always maintain that the customer is our most important resource and will always treat them as such.
Keys To Success
The follow local businesses will be crucial in keeping our inventory stocked at a reasonable, reliable price:
- The Jones local family farm has agreed to supply us with farm fresh hamburger patties and potatoes for making french fries. They have guaranteed us a price locked one year contract for their ground meat and potatoes.
- The Farmers market in Downtown Dallas will be our reliable source for all other hamburger toppings, including onion, tomatoes, and cheese. It is crucial for us to use and partner with the Downtown Dallas Farmers Market to stay consistent with our trustworthy, local brand identity.
- We have entered into a contract with the Small Business Solutions Center in Dallas for most other supplies, including: napkins, disposable food trays, straws, and carry-out bags.
Our daily, weekly, and company-wide goals are as follows:
- Sell $1,000 of hamburger meals per day at an average of about 45 meals per shift or 15 meals per hour, operating 3 shifts lunch, dinner, late night with an average sales price of $7.99
- Retain employees to work late night shifts
- Secure at least 5 special event contracts per month to increase brand visibility, client base, and profit
- Innovative social media advertising that highlights our brand as fresh, reasonable priced, and a healthful fast food alternative and unique experience all in one
- Developing strong, ongoing relationships with event organizers, party planners, and business parks
- Delivering outstanding customer service through high-quality food production, fast order delivery time, and attentiveness to customer needs and concerns
- Implement a membership incentive program to encourage previous customers to return on a recurring, regular basis; and/or bring in new customers
- We will use Sam’s Club and other wholesale stores to maintain a stock of sodas and bottled water at a reasonable price
- In-house prep station where we prep and restock as needed before each shift
- Cooking staff who are experienced in delivering high-quality, made-to-order food in minimal time with minimal space
- Customer-facing staff who are experienced in providing outstanding customer service
- Joe Hoffman and Susan Hoffman, who are highly experienced in staff training, business development, and the food industry as a whole
- Our customer database, which Joe Hoffman and Susan Hoffman have already begun to develop with previous contacts from previous food business dealings
- Our food truck, which has been custom built according to Joe Hoffman’s designs, which will maximize productivity and safety
Products and Services
We will be offering hamburger meals made from 100% ground beef for lunch, dinner, and late night customers. Wait time from order placement to completion is around 10 minutes on average. Hamburgers can be topped with cheddar cheese, bacon, lettuce, tomato, pickles, red onions, bell pepper slices, and our secret sauce. Other products include French Fries, Potato Chips, Can Sodas and Bottled Water.
We offer 3 choices of hamburger meals:
- the Little Joe hamburger meal
- the Big Joe hamburger, and
- the Double Joe hamburger
Customers may also purchase menu items separately including hamburgers, French fries, can sodas, bottled water, as well as potato chips.
Additional services include catering and corporate event contracts. These contracts are also how we plan to reach our annual profit goal of $365,000, as clients must pay a host event fee and booking fee to reserve our services, in addition to what guests will pay per meal.
Most of our marketing will be targeted towards landing these catering contracted events as they are more profitable. Ideally, as Hamburger Joe gains popularity, the majority of our week will be booked with catering events, which is not only more profitable, but a great way to gain exposure and grow our client base.
Mobile food industry
- $1.1B Food Trucks in the US Market Size in 2020
- 0.5% Food Trucks in the US Market Size Growth in 2020
- 4.1% Food Trucks in the US Annualized Market Size Growth 2015–2020
Food Truck Industry Statistics
- In 2020 there are 23,873 active food truck businesses in the US. (IBISWorld)
- In 2020, there are 28,916 food truck industry employees in the US. (IBISWorld)
- The mobile food truck industry earns $2B+ in revenue per year in the US. (Food Truck Nation)
- The food truck industry has experienced an overall revenue increase of 300% from 2014 to 2017. (Food Truck Nation)
- The growth of the food truck industry is outgrowing the overall commercial restaurant industry, at 5.4% vs. 4.3%. (Food Truck Operator)
- The legal bottleneck is slowing down the growth of the food truck industry, which is expected to grow only .4% in 2020. (Food Truck Nation)
- Compare that to 2019, where the food truck industry grew by an estimated 20%. (Food Truck Nation)
- In 2019 the overall revenue stream from food trucks grew by $985M. (Forbes)
Statistics on Food Truck Demographics
- The most likely demographic to order from a food truck are people aged 18 to 34, followed by those aged 35 to 44 at 54%. (Statistics Portal)
- 47% of Millenials have eaten from a food truck at some point. (BigThink)
- Over 90% of food truck diners rated their quality of experience as either excellent or good. (Mobile Cuisine)
- Over 80% of food truck users called the dining experience “fun”, “exciting”, “new”, or “different and unique.” (Mobile Cuisine)
- Nearly all food truck diners surveyed said they will continue to frequent food trucks in the next year. (Mobile Cuisine)
- Food truck lovers cited the fast serving times, convenience, high-quality and low price of the food truck service experience as reasons for loving them. (Mobile Cuisine)
- The top 10 states for food trucks (California, Texas, Florida, New York, Oregon, Washington, Pennsylvania, Ohio, Colorado and Virginia) accounted for 57% of the US total.
Hamburger Joe Segmentation and Targeting
There are different strategies for dividing the market into segments including Geographic, Demographics, Psychographics and Behavioral. This segmentation for Hamburger Joe is advantageous because it allows us to engage in the business model design and marketing of Hamburger Joe in a focused manner.
The food truck industry has expanded over the past five years leading up to 2021 and is one of the best-performing segments in the broader food service sector. The industry’s remarkable rise is largely attributable to changing consumer preferences in favor of unique, hamburgers at less expensive prices. Cities such as Dallas and Austin, TX, have sought to differentiate themselves by crafting laws and creating areas specially designed for mobile food trucks. These trends have created a boom for the food truck industry, as consumers have sought to maximize their disposable income by indulging in small conveniences such as affordable food.
Given that our customer base is primarily 18 to 34 year olds, and secondarily 35 to 50 year olds, the following marketing channels are those that we predict will be the most successful:
- Google Ads – we will run CPC ads to attract catering jobs and corporate event contracts
- Facebook Ads – we will run ads to attract catering jobs and corporate event contracts
- Instagram Ads – we will run Instagram story ads to our target demographic who are frequenting areas that match our location schedule
- Email Marketing – we will send out a weekly email to our customer list of our location schedule to attract repeat customers. Example: “Join our email list and get a free soda or free bottle of water” We will also implement referral programs, such as “Bring a friend and receive a 50% off your order.”
|The following are the most cost-effective ways of Advertising Hamburger Joe:|
|Marketing Channel||Budget/ Cost to Advertise|
|Search Engines:||Hamburger Joe will use Google ads. The average cost per click in Google AdWords is between $1 and $2 on the search network. The average CPC on the display network is under $1. The most expensive keywords in AdWords and Bing Ads cost $50 or more per click.|
|Marketing Automation||Hamburger Joe will use marketing automation tools and sales acceleration tools to increase its sales in Texas. Hamburger Joe will sell 20% more per sale by using marketing automation.|
|Social Media Marketing||Facebook (target demographically) http://www.facebook.com/advertising Instagram (target demographically and geographically) http://www.instagram.com/advertising|
|Online communities related to Mobile food services niche||Posting different banners including Hamburger Joe benefits to customers and related communities (Banner ads, profile pages)|
|Hamburger Joe can set a daily or monthly budget. The cheapest option for Hamburger Joe will be the search engines which will cost around 25 cents per click. We will eventually build up to buying keywords or banner ads which will be more costly but more effective.|
|Digital strategies for Hamburger Joe.|
|Objective||Channel||Strategy plan with cost|
|To get 5000 impressions from the target market, specifically blue collar and white-collar workers with low to medium income.||Social Media (Paid)||Facebook advertising costs on average about $0.27 per click. For one thousand impressions (CPM), Facebook advertising costs about $7.19 CPM Instagram story advertising costs on average costs $0.75 per click. For one thousand impressions (CPM) Instagram advertising costs about $750.|
|Hamburger Joe will be sending promotional flyers, brochures, and other reading materials for our target market emails per week = 10+||Email Marketing||Hamburger Joe will use mail chimp for $199/month and will send email to its different target audience.|
|Remarketing keyword-based ads for Hamburger Joe and specific website-based ad sets||Google adverts||The average cost per click in Google Ads is between $1 and $2 on the search network. The average CPC on the Display Network is under $1.|
The majority of Hamburger Joe’s costs are variable as they are reliant upon how much inventory is sold and how far the truck must travel for any particular shift. Our one reliable cost is employee pay at a rate of $10 per hour as our hours of operations will always be the same. Based on current food cost our hamburger meals range from $3.25 to $4.25 depending on the meal option.
Hamburger Joe hamburger meals cost based on current food cost:
- The Little Joe Hamburger meal cost $3.25
- The Big Joe Hamburger meal cost $3.50
- The Double Joe Hamburger meal cost $4.25
- A 12 ounce can soda cost .25
- A bottle of water cost .15
- A bag of potato chips cost .30
Revenue streams include hamburger meals, meal upgrades, beverages, and event fees (regular cost for customers plus we charge the host an event fee to cater parties and events, and booking fees to reserve our truck at corporate events).
Our goal is to sell $1,000 of hamburger meals per day at an average of about 45 meals per shift or 15 meals per hour, operating 3 shifts lunch, dinner, and late night with an average sales price of $7.99 operating 7 days a week.
Any lack in daily on the go location sales will be made up via catering and corporate events throughout the year helping us reach a hefty goal of $365,000 per year of which 40% to 45% is projected profit.
Unique Value Proposition
We have differentiated ourselves in the market based on providing best taste and quality mobile food service to our target audience with our memorable hamburgers and a memorable experience – the Little Joe hamburger, the Big Joe hamburger, and the Double Joe hamburger. Hamburger Joe offers a refined atmosphere and provides more than just a meal, our welcoming staff greets you and cares for you every moment you spend with us. We use fresh, healthy ingredients, and are chemical free to offer a premium taste to visitors. We also source our ingredients from the popular, local Dallas Farmers Market, which sets us apart from fast food franchises and garners the support of those who support fresh food and small businesses.
Hamburger Joe will take place following actions for the better growth of its food truck services:
- Integrity: We offer an affordable rate for the food services that we offer with complete transparency. Additionally, we use farm fresh local ingredients, which is the healthier choice for the environment, small businessmen, and our customer’s bodies.
- Passion: We don’t believe in the status quo; our goal is to not meet expectations but to exceed them with high-quality food, fast delivery time, and amazing customer service.
- Accountability: We are personally invested in customer satisfaction and as your trusted food truck business we deliver…guaranteed!
- Creativity: Hamburger Joe has an innovative way of delivering its food services – we come to you and we’re there when you want us to be (all the way up until 2am!)
- Professionalism: The company’s clientele is our top priority and we always treat them with the utmost respect and courtesy.
With his expertise in creative restaurant advertising and previous client relationships, Joe Hoffman will take on more of a marketing and salesman role. He is responsible for designing ads, placing ads, and securing catering contracts. He will also be responsible for tracking business profit and losses, and ensuring that Hamburger Joe maintains a competitive edge among the Dallas food truck market.
Susan Hoffman, with her experience in team management, will take on more of an HR and managerial role. Susan will be responsible for hiring employees, employee training, and overseeing daily operations. She will be responsible for reordering and restocking inventory and mediating any employee or customer concerns.
All employees are responsible for delivering outstanding customer service, high quality meals, and a memorable dining experience.
Hamburger Joe cares about its employees and works as a unit to serve its customers at its best. Employees consider Hamburger Joe as a family unit and have strong emotional attachment with the business. Hamburger Joe will not only support its team on professional ground but also care about their personal and social life as well. We will have 2 part-time employees to service the late night shift and assist with catering jobs. In addition we will use a temporary staffing agency to staff helpers when we do large catering jobs.
Hamburger Joe plans to launch and introduce its brand and mobile food services at the much anticipated 2020 Dallas Food truck festival. Here printed materials will be distributed to potential catering contract clients and promotions will be handed out to those who purchase meals and follow us on social media.
Our social media plans to take on a “Gorilla” tactic, posting day of where we will be operating that day in hopes of building anticipation among our client base.
Through our social media platforms we also plan on building an email list that will be contacted on a weekly basis with Hamburger Joe news and promotions.
Launch and Promotional Strategy
- Create a landing page that sells
- Website visibility in search engines
- Viral video content.
- Set & measure our website KPIs
- Target audience
- Content strategy
- Start a blog
- Social media
a) Create a Hamburger Joe landing page that sells
Create a restaurant landing page that keep readers informed in a creative and unexpected way. Make sure that the key elements of our landing page are included: business name, features, clear call to action, promo video.
b) Make Hamburger Joe website visible in search engine
This is a process of optimizing a website to rank higher in search engine results. The higher our website ranks in search results, the more visible it is to potential customers.
Title – make it readable and focused. It should have a high recognition value.
Description – make sure to point out what problems Hamburger Joe solves and use keywords (SEO).
Icon – focus on one element that reflects our website essence and design it in a unique shape (Logo).
Screenshots – show a customer testimonial through reviews on site.
c) Create viral video content
Humans are visual creatures, which is why videos are the most popular form of content today. We can create videos for YouTube as it is a powerful tool to spread the word about Hamburger Joe. An effective way to market our business is to create an informational video about our Mobile food services.
Create a promo video, keep it short and to the point, focus only on our best menu and provide a strong call to action. As a final check, mute our video. If it still makes sense, it is well done.
d) Set & Measure Hamburger Joe website KPIs
Regular analysis of the website will enable us to gain the best insights into the idea and performance of the website. This will also be the beginning of real data collection.
We will also always keep in mind our customers and their feelings about our mobile food services. When dealing with marketing, every detail and customers’ feelings about them are essential.
d) Content Strategy
Content marketing is often seen as a time consuming and ineffective method by website developers. But for website like Hamburger Joe, it serves as a necessary basis for a further paid marketing campaign. Content strategy helps to attract potential customers that are interested in mobile food services related topics. What is even more important is that it helps to retain existing customers and create a base of loyal and engaged customers.
Content strategy should imply:
WSO: Apart from optimizing a website title, keywords, screenshots, and description, paying attention to website content as well.
Website/Blog: It is the easiest way of sharing updates, news and content related to food business. Relevant content helps keep customers engaged and gives them more reason to use our services more often.
Pitching food bloggers and media: We understand that leveraging through using bloggers and other media outlets to reach our target audience is essential in marketing. The more exposure the website will get in industry blogs and outlets, the more chances we’ll get for creating a brand around the website and drive organic traffic. It’s not easy to get a website or service reviewed by popular bloggers, so it is imperative that our pitch is brief, clear, and compelling.
Messages: This section seeks to establish the kind of messages we intend communication to all our target audiences; communication should be as friendly as possible showing highest customer care.
Referrals are a standout amongst the most pivotal segments of a fruitful inbound deal’s procedure. Sourcing referrals must be done in an orderly, shrewd manner.
It is essential that all aspects of marketing be considered in developing our brand.
- Food exhibition and shows in Texas
- Speaking engagements at food events
- Networking events with customers
- Digital flyers circulation
- Reaching customers through their cell phones
Hamburger Joe can use different interactive channels to reach into the customer’s cell phones in Texas, because this can create more attention from customers; Hamburger Joe can use text messages or phone calls to its clients once per week.
- Create a podcast:
Hamburger Joe will use podcasts to reach all its target audience, which is another digital medium for sharing information, news, and ideas in a more social media type of environment. This number provides a good indication of the CPM. The typical CPM for podcasts stood between $20 and $45.
- Email marketing:
Email is also one of the best ways for Hamburger Joe to communicate with customers. Hamburger Joe will use email marketing as its tool to promote mobile food services to its customers. In this way Hamburger Joe can do rigorous marketing and promotion to its customers.
- Send Holiday or Birthday cards to Hamburger Joe customers:
Hamburger Joe will also send gifts to its loyal clients in Texas. We can collect this data when customers sign up for our email list.
Communications & Promotional Strategy
Dedicated Social Media Group: Hamburger Joe will join food groups on social media platforms also, where the company will be sharing customer testimonials with the link of our social media pages to increase views and impressions.
Online Viral Marketing: Hamburger Joe will use online social media marketing to actively promote our Mobile food services on Facebook, Twitter, Instagram, YouTube, Forums, Blogs, Discussion boards etc. This might involve an ongoing campaign promoting the service concept through news, creative ideas, online PR, groups, and networks. Customers from all over Texas will be encouraged to promote the Hamburger Joe to their networks of friends and work colleagues.
Update Content of Website: It is essential for Hamburger Joe to incorporate content into the front end of the website on an ongoing basis. A useful tool would be to have a video linked directly from the homepage and reviewed regularly to ensure currency and validity of Hamburger Joe.
Public Relations: Hamburger Joe will engage the services of a professional PR company to keep the concept and brand identity of Hamburger Joe, through the written press, consistent and strong.
Video: Visual tools are very useful ways of explaining and promoting Hamburger Joe and can be used on its website, social media marketing, and for displays and exhibitions in different food events happening in Texas. The video could be updated annually with each year’s video focusing on recent developments and target different sectors of the population and customers.
Promotional Material: Hamburger Joe will arrange different promotional material for existing and potential customers on social media which is a useful way of retaining or gaining interest. They can be promoted through the newsletter and with Hamburger Joe social media competitions, customer referral incentives, and new campaigns.
• Hamburger Joe provides farm fresh ingredients that support the local Dallas economy and our customer’s health
• We deliver higher quality food in the same amount of time as unhealthful fast food franchises (10 minutes or less)
• Fresher ingredients are more costly and require closer inspection and monitoring
• Must acquire permits to operate on streets
• No one set location makes it difficult to build brand identity quickly
• Franchising and gaining royalties from franchisees
• Gaining permanent contracts near mall food courts, college campuses, etc.
• Better known hamburger franchises in the Dallas area
• Comfortability of clients ordering from Food Trucks during a pandemic
Hamburger Joe is requesting funding in the amount of $71,700 to cover start-up costs which includes a food truck ($30,000), interior remodel of food truck for optimal efficiency ($15,000), food truck wrapping and customization ($10,000), initial product inventory (500 bottles of water, 500 canned sodas, 500 bags of assorted chips, 10,000 napkins, 10,000 food trays, 10,000 food carry out bags; totaling to $1,500) permits and licenses (Dallas Food Truck permit and license to serve food – $200), our website www.hamburgerjoe.com (domain name, and website design ($1,500), 500 business cards, 500 pamphlets for catering services, and 500 glossy posters for new customer appreciation coupon ($2,000); market research and ad launch and design for Instagram story videos, Facebook video ad, and Google Ad Sense CPC for our first 6 months of business ($10,000); as well as customized uniforms, three sets per employee ($500), register and POS ($500), cooking supplies, and various miscellaneous small items such as spatulas, baking sheets, and fryer baskets ($500).
Startup Cost and Capitalization
|Food Truck + Wrap & Equipment||$55,000|
|Initial Product Inventory||$1,250|
|Permits and Licenses||$200|
|Facebook / Instagram / Google Ad Development and Launch||$10,000|
|Paper Marketing Materials||$2,000|
|Register / POS||$500|
|Uniforms / T-Shirts||$500|
|Paper Products (Plates / Napkins, etc.)||$250|
|Misc. Expenses (Like a Chalk Menu)||$250|
|Small wares: Pots, Pans, etc.||$100|
|Total startup cost||$71,700|
Cost Structure and Profit
|Cost||Sales Price||Gross Profit|
|The Little Joe Hamburger Meal||$3.25||$5.99||$1.99|
|The Big Joe Hamburger Meal||$3.50||$7.99||$3.74|
|The Double Joe Hamburger Meal||$4.25||$9.99||$4.99|
|Factor into the cost which covers misc. expenses such as our fuel and employee cost for our cook/driver.||.75 cents per meal|
|Cook Salary||$10 per hour + tips|
The following are the exit strategies for Hamburger Joe, LLC.
|Acquisition||On a smaller scale, Hamburger Joe can decide to buy a restaurant business so that they can sell their menu through brick and mortar. An acquisition or merger can be an appropriate approach as well.|
|Management Buyout||Having management or employees buy our business may be a good idea for Hamburger Joe to save our legacy. Of course, we could consider passing the business on to family, but there’s always the risk that they won’t understand the business or won’t have the determination to make it succeed; and if we are to split the business between family members, there is the possibility of family rivalry.|
|Liquidation||It’s one of the fastest ways to close a Hamburger Joe food truck business and can be a viable option in case family members are not interested in or capable of taking over.|
|Franchising||The most lucrative and ambitious tactic for growth, franchising allows our brand to grow on a state and national level. Additionally, royalty fees increase our profitability with little effort or investment on our end.|
Overall, we hope our fictitious Hamburger Joe strategic business plan showed you everything you’ve been wondering about what it really takes to write a strategic business plan, and how to write one properly, so you can ensure the continued success of your own business.
As you can see, there’s nothing included in a strategic business plan that you wouldn’t already want to know for yourself as the owner and CEO of a venture that’s looking to grow and expand over the next few years. A strategic business plan is really meant to lay out how your marketing plan, financial standing, and business’ goals all align to ensure your future success. And since all of that is super important to the profitability of your company, we really do encourage all businessmen and businesswomen to write up their very own strategic business plans!
While hiring out the task is always an option, there’s so much to learn by doing it yourself. But of course, with Business Plan King…you’re never really by yourself.
In addition to this free strategic business plan example we’ve provided above, we also have a strategic business plan breakdown here. And, more than that, we can even offer you our business plan builder software, so you can learn how to write a business plan for yourself, without breaking the bank.
Because let’s face it, the more skills you learn, the more valuable you become as a businessman or businesswoman, so why not get started today?
And P.S., while you’re at it making all these self-improvements, make sure you sign up for our Business Plan King newsletter below, so you can stay in the know about all the latest entrepreneurial tips and tricks!