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6 pages/β‰ˆ1650 words
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Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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Topic:

Food Truck Venture

Essay Instructions:

in week seven we want you to create a business plan for the venture you have been working on throughout the class. We ask that you research and provide analysis of the following areas for your propose business venture.
Introduction
An opening statement where you provide the name of the business and the essence of your vision and mission statements. As well as your assessment as to why this business venture has a better than average chance to succeed.
Background of this venture
Briefly describe an your entrepreneurial venture (business) please include in this section: (a) a detailed description of the venture's products and/or services this company would provide; (b) the target markets and customer demographics you would sell to;(c) what advantage this venture would offer that makes it competitive; (d) what skills, knowledge, experience, or talents do you (as the entrepreneur/owner) bring to the venture; (e) what benefits (tangible and intangible) does this venture have for your potential customers; and (f) how do you propose getting products or services marketed? You are not supplying a business plan, however, from the information you supply should be complete enough to eventually develop a business plan. Do not limit your narrative to the items above (a through e), be creative in your description of your possible venture. But make sure to back up what you say with research.
Industry and competitive analysis
Provide an overview as to why this business venture is or will be in demand based on the research you have performed, please include; An industry overview in the U.S. and in the location, you will potentially start this business. Information regarding the competitive environment in that location. An analysis of the market that identifies risks, opportunities, trends in growth
Risk analysis
in this section we ask that you address the risks that must be considered both to the start-up and to the long-term viability of this venture? In some detail, identify the market segments and the trends in those markets. Include expert assessment of the potential for your venture, and the risks and potential stumbling blocks to entry. Provide evidence that a new player is needed in your local market by doing some market research that identifies competitors already in your region. Please also perform a quick cost analysis on how much money this venture would need to start. Look for credible sources and research to support and explain what this business venture is and how it works in the economy.
Market Trends
Describe in detail your target market location is, and why you have selected it. What is the demographic your business will address? Investigate and describe your competitors in this specific market and what are their strengths, weaknesses, and vulnerabilities? Devise a strategy for entering this market and what are the specific barriers and risks to entry. What specific marketing (advertising) needs do you believe will garner attention as you enter this market with your new venture?
Conclusion
Please provide well-written summary of the ideas presented which easily walks us through why this venture will be successful or if your research and analysis determines that it would not be successful, please state why.
Instructions:
Please use the attached APA formatted Essay Template for this assignment with the above titles for each section of the paper. Be sure to properly cite your resources throughout the entire paper using APA 7th citations rules. Also, use proper APA referencing guidelines in your "References" (bibliography) section at the end of your papers. Your written weekly assignment paper should be 5 to 7 pages not including the title page or the reference listing and should include a minimum of 7 cited credible reference sources.

Essay Sample Content Preview:

Food Truck Venture
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Food Truck Venture
Introduction
The movie Chef by Jon Favreau is a huge inspiration of mine. Such achievements have ignited a personal desire to venture into food truck businesses, providing a platform for me to express my culinary skills. I Plan to name the food ruck Tervetuloa which means welcome, thanks to my Finnish ancestry. Its mission is to provide a space where everyone feels welcomed and united by the love of real fresh food. The space aims to connect the people to a moving kitchen that prepares, serves, and delivers fresh meals from locally produced ingredients. Most ventures have similar or are driven similar concepts making it challenging to establish a competitive edge against homogenous ventures or contemporary hotels and restaurants. The current venture focuses on four core conceptual aspects: street-food experience, fresh food products sourced from local producers, technological application, and inclusion of healthy meals. This business plan plans to evaluate and assess the strengths, weaknesses and risks Tervetuloa will encounter in the food truck venture.
Background
The food truck venture will acquire ingredients from local producers, consequently supporting the community economy. It will also aid in community health and the importance of inspiring a new vision of healthy eating. Communities have continuously remained hooked to the fast-food trap, which leads them to an endless cycle of family health complications such as obesity and diabetes. Tervetuloa will rely on naturally produced ingredients in the food sold at the truck. Complimentary products such as drinks will also remain natural extracted from fresh fruits and canes. The advantage of this venture is that it has the support of the local community that is desperate to make changes in their lives. Tervetuloa offers them a solution or, at the very least, an incentive to try out a natural way of life.
There is no shortage of criticisms against the fast-food industry, ranging from negative health effects, animal cruelty, and accusations of worker exploitation. The pressure on fast food is relentless from consumer groups and movements such as Slow Food and the Center for Science in the Public Interest. The critics are starting to turn the narrative in favor of natural food. Social scientists highlight the ambivalent relationship with fast food characterized by guilt, especially where children are involved. According to the director of the obesity program for the Children's Hospital Boston, David Ludwig, fast food consumption is responsible for the majority of caloric intake. For instance, a regular McDonald's meal consisting of fries, burgers, and drinks can amount to 1,430 calories. This is almost half of the USDA recommended daily caloric intake, which is 2,700. Therefore, Tervetuloa aims to join every growing movement that promotes local cuisines and ingredients.
There is a growing concern in local communities on the number of individuals suffering obesity or food-related issues. Non-Hispanic Black adults have the highest age-adjusted prevalence at 49.6%, followed by Hispanic adults at 44.8%, non-Hispanic White adults 42.2% and non-Hispanic Asian adults 17.4% CITATION CDC21...
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