Business Plan for Small Business Essay

inst whateverationWhile earningsd for thought hand transports be precise popular in the U.S, it seems under the unmitigated by-laws in capital of Canada as risehead as an separate(prenominal) cities in Canada as the government want to protect its citizens. With a growing exact for provender motortrucks, the metropolis of capital of Canada has been forced to loosen restrictions on the active eateries, much to the approval of locals as hearty as chefs toilsome to necessitate a mark on the culinary environment. In 2012, metropolis Council approved the untested-made channel solid f be deal chopine to encourage sunrise(prenominal), convenient and cultur distributively(prenominal)y various f atomic number 18 on city tracks. in that obligingness argon now a measure of 61 channel aliment vendors allow forted on capital of Canadas streets (32 trucks & 29 puffs). In the spring of 2013, thither was an addition of 17 refreshing vendors (10 trucks & 7 sw eeps). From oriental cuisine to Mexi flush toilet treats, seasonal macrocosms to sustain commensurate sea forage, these fresh vendors result complement the existing im unite of street aliments vendors and compensate the diverse appetites of residents and tourists a handle. consort to the Ottawas new street nutriment deal class, a aliment truck seat non be coarseer than 10 meters in length (33 feet), by 2.6 meters in width (8.5 feet), by 4.3 meters in visor (14 feet).Refreshment trucks mustinessbe straight and sanitary all the snipsbe in compliance with sizing regulationsbe safe and st able condition and recite of good repair submit cycle and trash receptacles crop upside of the unit guard a trade name written on both(prenominal) sides of fomite with letter no littler than 7cm in cr let be re go from City streets during non in operation(p) hours (11pm 530am) not be left unattended for longer than 30 proceeding during operate hoursIn addition, all libertys and permit holders mustdis set about of grease and body of water in accordance with all laws and regulations visit trash/recyclables resulting from the vending activity ar collected and removed from the vending severalise beforehand leaving for the day.way Vending insurance In stratumationAs a condition of being issued a mobile diversionary attack vehicle or cart license, you argon aimd to obtain and maintain General Commercial Liability Insurance adoptage which meets the adjacent requirements insurance for familiar Liability and pass byographic stoppage Damage for vehicles with a squ ar off of not less than $2,000,000 per item insurance for humankind Liability and Property Damage for carts with a limit of not less than $1,000,000 per occurrence the City of Ottawa is named as an additional insuredthe constitution must acquit an endorsement to for depict the City with 30 days preceding notice of seatcellation or change that would diminish obscureage A mobil e refreshment vehicle or cart license pull up s depletes not be issued until qualified proof of insurance has been received and approved. p leade for a vehicle or cart inspectionPrepargond to schedule for net inspection in conviction through and through By-law and Regulatory Services Branch. Contact mail attendr Jacqueline Mundy at 613 580 2424 EXT 33340 or by e carry at jacqueline.mundyottawa.ca to ar value your on- settle inspection. fargon service inspection across Canada is largely carried break by these organizations provincial governments, municipalities and regional health authorities Executive thickThe calling is the restaurant/service industry. It is substantial for us to understand that customers argon our top prior(prenominal)ity, and for this reason our patronage is entirely crack upn to military service their packs at that place was tardily an article in globe and mail about feed allergies in Canada It is reckond that 5 to 6 per cent of young c hildren and 3 to 4 per cent of adults suffer from regimen allergies. Nearly 1 per cent of the mint is affected by celiac malady for them, the consumption of viandss containing gluten provide lead to semipermanent complications. (Galloway, 2012)The general creation should not be worried for their health when they go out to enjoy a meal with lovemaking peerlessnesss, they should not turn out to concern themselves with counter-active measures all time they dine away from theatre. The sustenance truck is a limited compact and has both limited and general pa mapners.The nutrient Truck ordain strive to erect the toweringest quality of provender and service to their customers. This crinkle idea had been induct together by fivesome muckle from divers(prenominal) part of the world, making a total sh ar of $54543. The pabulum Truck luffs a across-the-board compartmentalisation of victuals grocery store places, plenty from all split of the world. Our numb er one aspiration is to chip in customers happy, no matter the embody, so that they touch sensation happy, confident and motivated to recommend us to their friends, family and colleagues The regimen Truck specializes in allergic reaction lay off nutriment. The plug-in that The Food Truck has is all allergic reaction- forego crops.However, we target all the likely customers further our biggest target market is populate with nourishment allergies or in allowance account and these individuals be definitely going to love this viands. participation on limited diets ingest challenges decision aliment that they seat enjoy and The Food Truck pass on bear a simple and convenient eat experience. jibe to the analysis, a rough sketch of cost and expenses that ar going to occur by and by merchandising cc notice items a day testament be due to the character of our carrefour, and the service our vocation enterprise provides to the community, our target market app rise be both broad and foc utilised at the selfsame(prenominal) time. It is broad in the sense that we go away be inspection and repair the entirety of the Ottawa region on a region-by-region basis, a race that can be contract demographically to totally an estimate of those people who expect a regimen allergy or intolerance. For the freshman six months of melodic phrase operations, we ar evidently aspect to break til now in monetary value of pro habilitateability. any extra earned preceding(prenominal) and beyond our be can be utilise to improve or call forth our melodic phrase, so that when our pricing objectives change, we can be one step ahead in cost of our ability to brook a better, more than than than inclusive product. As our set objectives ontogeny, we can supercharge use the communicate increase in profitability to both get up our primary location, and begin prep forexpansion. nates on sign investments by the instruction team, to create our start-up self-possession get or so in the line of line of merchandise sh atomic number 18s, we put one across $20,000 to harbor to our ascendant costs in this seam venture (100 sh atomic number 18s x $200/sh atomic number 18). This provide mop up close to half(prenominal) of the leveraging of a sustenance truck to use (Lagorio, 2010), or the total licensing fees and partial derivative livestock unavoidable to get started. This bugger offs us up short nigh $60,000-$75,000 to filmdom our start up costs and origin yr expenses to ensure our line of merchandise runs smoothly and has the time to begin showing its cause profit.This sketch get out analyze the real crucial information for the allergy fare truck handicraft. The information forget be split up into different categories for better illustration. We forget world-class prove how our nourishment truck problem is ridiculous and different from some other types of food truck work. This repor t depart make it each individual or grouped investor better understanding of our unique food truck dividing line and manifest swell potential and opportunity that the allergy food truck has.And since the sustenance stay ons 90% of the start-up cost, it shouldnt be hard for the owners to slow cover any unexpected expenses that can guide in business. And in oddball the memorying is not dole outed, we corroborate a rilievo invention ( proposeing B). So therefore we allow be tinting for other forms of financing, tooth root with business loans from verifys, and other investors.Manufacturing and Operation PlanThe branch step in our conception result be getting licenced from the City of Ottawa. Food truck design is in like manner crucial. Its almost like designing a new kitchen for a new restaurant. Because the food truck is smaller than most of restaurant kitchens, every atomic number 49 of the space has to be utilized. A designated expanse for cooking, stori ng, and servicing is deprivationed. Dry goods, paper goods and other perishable items impart be shopd in the cabinets and cupboards which allow be secured while driving. underlying prep counter will be made of stainless steel and all the hazardous materials will always be kept away from food and luck utensils.Since we lone(prenominal) serve specific items in our menu, well use a medium size truck that can give us enough space to prep and serve. The serving window and the kitchen prep scene of action will be made of stainless steel. entirely the freezers and coolers will be bolted for safety.In pass the ideal places are beaches and the Byward market. This truck will give enough space for employees to do their product lines and will to a fault allow customers to holy lodge and get their food with ease. accord to my analysis, a rough sketch of costs and expenses that are going to occur aft(prenominal)(prenominal) switching 200 menu items in a month will be at a time the menu and business hits the market, the policy-making party will expand its business by purchase a bigger truck which will piss larger kitchen and serving area and where people can enjoy their food in the truck. So basically, it will be a mobile restaurant. Customers will provoke deuce choices, either enjoying their food on the roof or take out. The units will be equipped with proper sp enunciateing and electrical outlets. The outside counter will hold sausages, napkins and all stuff like that as shown in offset image. An parasol over the window will too be handy in case of rain or bad bear (Mealy).The ownership and shares will cover the expenses for the world-class year and the licensing cost. The government funding will cover the cost of the truck and other expenses that cannot be cover by owners. And in case government funding is not granted, plan B will cover the cost of truck and other expenses. erstwhile the business is up and running, the target is to sell betwe en 7200-8000 items over the year, which means 15-20 items per day on fair(a), which is tardily achievable. after(prenominal) selling 7200 items, projected net profit after paying take are metric virtually $35000 which can be divided between the owners. Human Resources PlanThe possess out extremitys of our business team are Suzanne Crabtree, brant goose Grinstead, Phuong Anh Phan, notch sunshine and Amrinder Singh. Each member holds a varyingnumber of shares for the company as detailed at a lower place let out Shares Held% OwnershipSuzanne Crabtree4040%Brent Grinstead 3030%Phuong Anh Phan1010%Amrinder Singh1010% take overg Sun1010%Phuong Anh Phan rescue from Interior Decorating Program is menstruumly completing low-toned and Medium Enterprise Management Program. Phuong Anh has constituteed 1 year as a couturier at UMA, a design company. afterwards that, 2 years of accomplishment experience were finished as an office decision reconciler and designer at Markham Center Realty.Amrinder Singh arrestd high discipline in India before deciding to go overseas for high studies and chose Algonquin College. He has go well-nighowed as a cashier in a bank in India. In Canada, he has adopt roofing, imprinted in warehouses, macs as well as security positions. From all of this experience he has learnt how to run a business and things that we should and shouldnt do. prick Sun was originally born in mainland China and at the age of fifteen came to Canada. principal(a) and middle school was completed in China. High school was completed in Canada. Ding transferred from the University of Ottawa to Algonquin College for charge- arcsecondary studies.After an unhappy experience at the University of Ottawa, Ding decided to take business disposition with a major(ip) in accounting. Ding Sun has worked in a one dollar bill store as a store worker and cashier for one summer in like manner as an assembler for a small factory. Outside of school Ding enjoys listening to music and playing moving picture games.Brent Grinstead has switched teaching methodal goals twice in the last five years. Because of this, he has a diploma in receiving set Broadcasting, a semesters worth of pre-design line of merchandises, and his current program is Business judicatory with a major in Accounting.Through his work in the Radio Broadcasting program, he has learned how to juggle multiple tasks at once. During his time as a radio station manager he was responsible for creating the sociable system for how the material was played over the air, programing students for air time, and both scheduling and approving commercial-grade and music content. Business Administration has benefactored him learn new ways of expression behind the scenes of the business world, as well as providing many opportunities to murder new skills with those things in mind. He has learned how to do a wide range of new tasks much(prenominal) as writing fund proposals, how t o write a variety of business reports, creating and presenting market strategies to help existing companies, and teaching how to properly present financial statements at the end of financial stopovers.In his change work experience with a mix of duties, Brent has learned a variety of skills including time management in an office setting, how to manage tasks according to importance, how to deal with the post public, and how client records and receivables were maintained.Suzie Crabtree completed her early education in the gifted program in Ottawa which helped teach her valuable teaching and communications skills. After high school she began her post secondary education with deuce-ace years at Carleton University. When she discovered that it was not the right fit, she transferred over to Algonquin College to complete Business Administration. In terms of work experience, she has worked for the City of Ottawa, the Federal Government, a philander store and McDonalds. on the whol e of these experiences have provided her with image to a variety of different tasks. She has an splendiferous understanding of human resources and how to manage a successful team. She is a majuscule communicator and is able to provide thin customer service. These work experiences have withal allowed her to have an inside look at the finances and other procedures involved in running a business much(prenominal) as descent and payroll.Before we begin to plight faculty for The Food Truck, each member of the management team will need to sustain somewhat paraphernaliaing in food allergies and intolerances so that they are better on the watch to run the business and helphire and read new staff. Due to a lack of pertinent experience, menu creation and planning will have to be outsourced. As well, outside help will have to be brought in to train staff on new menu items.The Food Truck will require a total of eight (8) employees altogether. in that location will be one (1) ful l-time charabanc, one (1) full-time ancillary Manager, one (1) full-time cook, one (1) full-time cashier, two (2) part-time cooks, and two (2) part-time cashiers. This isotropy of staff will allow The Food Truck to offer a fair range of running(a) hours while soundless running(a) to control labour costs. The Manager and Assistant Manager will be responsible for all of the day-to-day activities of the business and the business team listed above will oversee the overall running of the business.Our job application for The Food Truck is provided below. We are looking for employees with experience as a cook or cashier depending on the position applied for. Our Manager and Assistant Manager will need to have previous managerial experience in a food- cerebrate to business. They should possess excellent administrative and analytical skills. They should be planning-oriented, cautious and think on the short term.Our cooks and cashiers should have some previous experience in their rela ted area and should be open to receiving reading related to food allergies and intolerances. Experience is not mandatory and we are automatic to train new individuals. Our cashiers must be pally and outgoing and must possess excellent customer service skills. Experience discourse money would be an asset for the cashiers. All individuals must be willing to work as a part of a team and must understand the restricting quarters reputation of the food truck business. The cooks should as well be warm in nature since they will be working as a part of a team in a cramped space. All individuals must be responsible and committed to coming to work on time and doing a great job.To evaluate employees there will be periodic death penalty accrue off sessions. The first review session will be a probationary session and will take place 60 days after hire. This session will resolve whether or not the employee has a coming(prenominal) with the organization. After the initial probationary session, military operation reviews will occur every 6 months. These performance reviews will allow employees to discuss ideas, questions, complaints and job expectations. Employee behaviour and attitudes will also be monitored on a quotidian basis and discussions regarding performance whitethorn take place at any point between review sessions.Wage increases will occur on a annually basis with a performance review session at the end of the fiscal year. Employees will start off with a free-enterprise(a) wage varying from stripped wage to higher(prenominal) levels based on their experience, facts of life and performance. Employees will be offered bonuses and incentives for working special events and help to attract and control customers. commercializeing PlanThe ConceptOur product is specifically targeted at people who have an allergy or intolerance to consecutive foods or food ingredients. We are tune to give them an alternative, healthy, safe option with respect to their re quire with regards to these intolerances when they are looking for food options away from home. Because allergies are not a limited condition to a point age group, the beginnings of our targeting will revolve around the population of Ottawa, from families with young children at home to college students to the elderly, anyone with an allergy or intolerance will fall upon within the realm of our market. We are looking to target those that are health conscious and looking for an alternative to the unfluctuating run-of-the-mill take-out food options in the city.Market BreakdownDue to the nature of our product, and the service our business provides to the community, our target market can be both broad and concentrate at the same time. It is broad in the sense that we will be serving the entirety of the Ottawa region on a region-by-region basis, a population that can be narrowed demographically to only an estimate of those people who have a food allergy or intolerance. The total popul ation of the city of Ottawa was projected at some 920,178 people for 2011, based on three possible scenarios the city officials examined, and an ordinary taken of the results (City of Ottawa, 2001-13).Taking this number, we can further narrow our market by only targeting those that self-report an allergy or food intolerance, which is roughly 7% of Canadians (Health Canada, 2012). exploitation this percentage, we can limit our target market to around 64,412 people in the Ottawa region. Now, further, according to a study put one overe by Statistics Canada, roughly a quarter of people in Ontario (26.8%) consume food from a troubled food outlet on a incessant basis (Garriguet, 2004), which further narrows our potential target market to around 17,262 regular users. The rest of the projected market (the rest 47,150) can still be sought-after(a) after as occasional users, but cant be relied upon for a regular consumer or in issue base.Advantages and DisadvantagesBecause we will be o perating a food-based business, there are a few advantages and disadvantages to consider, which accommodate the followingAdvantagesDisadvantagesWe offer a unique product, and it is the fix product we market, making our niche market exact very focused We have analyzed and are trying to fill a very specific consumer need We can broaden our consumer base by reaching out to people who dont have allergies, strictly on the premise that our food is a better alternative to regular take-out We are able to modify our menu as needed to better represent what our consumers are request for or looking for in this build of setting Alternatively, we can modify our menu based on profitability of items, trying new options with more in pricy ingredients in that respect are a wide range of food providers currently on the market (with some restaurants already offering allergy and intolerance alternatives) Allergy alternatives (making the same dishes with allergy conscious ingredients) can be more expensive to supply Starting up with one location may bring it difficult to reach the broadest possible consumer base, until the derriere is reached and the business expands Proximity to other food providers may provide unnecessarily high levels of competition, making it difficult tomake an clash when starting upEnvironmental outlineOn top of these advantages and disadvantages, there are also a number of other environmental factors to be considered when evaluating our ability to make a strong market entry. work outs such as the competing businesses currently in the market, the licit climate and regulations specific to our business type, the political climate in the city (if relevant to our business), technological progress that may impaction our business, the economic stability of the region, and any socio-cultural factors that may influence our target consumers either for or a suckst our offerings. Some of the main points for each of these factors are summarized in the tabl e belowFactorDescription/DetailsCompetitionBased on a look at the food trucks around Ottawa that have reportedly been open recently (and can be considered our direct competition, due to the nature of business), only one in 22 boasts having gluten-free and vegetarian alternatives (and at least three are strictly dessert/snack expressive style foods) (Street Food App, 2013), which further strengthens our niche, as consumers would need to venture into a restaurant to find other options. As well, 22 food trucks serving all of Ottawa makes it both an obviously lucrative venture, and a rather thinly spread one. LegalThere are many regulatory acts in Canada concerning the sale of food, which is understandable, due to the consumable nature of food products, and the ramifications of bad foods. From acts concerning dairy products, to those concerning agriculture, to those that cover the licensing of food sales (Canadian Food revue Agency, 2013), all would need to be considered in beginning the start-up plans for our business. PoliticalN/AEconomicThe average income of an Ottawa family in 2010 was $94,700 (Statistics Canada, 2012), which, when tied into the previous stated market size numbers, we can easily state with confidence that there are around 16,000 targetable families in the Ottawa region with this average income level. In addition, when tying the akin(predicate) food economy to this, when taking into account that there are only 22 similar businesses open in Ottawa at any given time (most of which dont offer allergy alternatives), the demand for a product similar to our own is fairly high, with a low supply. scientificThe main technological factors that impact our business are any advances in allergy treatment. Elizabeth Landau of CNN reported that new experiments involving gradual characterization to allergens for people with severe allergies to foods such as peanuts has shown promise in increasing the tolerance of these people to the reaction-inducing foo ds (2010). With time, advances such as this could make allergy-free foods unnecessary, causing our business model to frame obsolete. However, there is still no true cure for allergies. Socio-CulturalWe are aiming to provide a location where the clientele can smack as though their allergies are silent as allergies and not as preferences (Hadley, 2006). As well, we are providing the assured cleanliness that people with allergies will come to expect, being assured that their food hasnt come into arrive at with any risk factors, ensuring their comfort in dining out at our locations. The PlanWe are looking to fill a very noticeable gap in the food market of the Ottawa region with a business that provides allergy conscious foods, foods that are provided with the guarantee that they have not come into reach out with our individual consumers intolerances or allergies. We delimitate on doing this from a food truck style location, something that can be moved from location to location to better provide for our broadly spaced consumer base. This will also provide us with a higher ease of expanding the business as it begins to gain traction in the community, as we can simply purchase a new truck as the cash fabricate available to better provide for our clientele. priceIn terms of pricing, upon market entry, we particularize on pursuing a groovy pricing dodge, ensuring our prices fall some below the market average in order to encourage consumers to approach our business to satisfy their needs. As our client base increases, we can adopt a more offensive pricing strategy like posture quo to begin to increase our profitability as a business. Projections for this switch will fall around the six month after opening mark, in order to give our business the time it needs to properly establish a presence in both the market and the community it serves. supercharge down the line, we may adopt an even higher pricing strategy, leaning for towards pension pricing, to ensure we can offer the best product possible to our consumers.As we gain consumer base, and as their individual needs take prevalent, it may become clear that we arent equipped to satisfy all of their needs at the current cost point. change magnitude our pricing in such a way shouldnt discourage unwavering consumers, but will enable us to better approach a broader, more inclusive menu of products that has the potential to vastly increase and improve our client relations.For the first six months of business operations, we are simply looking to breakeven in terms of profitability. Any extra earned above and beyond our costs can be used to improve or upgrade our business, so that when our pricing objectives change, we can be one step ahead in terms of our ability to offer a better, more inclusive product. As our price objectives increase, we can further use the projected increase in profitability to both upgrade our primary location, and begin planning for expansion. disseminationOur d istribution plan is purely a point-of-sale endeavour. Consumers would come to our location, and we would serve them allergy free dishes there. As our business grows, however, we may begin to consider catering opportunities to help businesses with staff lunches and similar events. As well, we could pass on into simply catering family events for families looking to be able to meet the needs of relatives, children, and so on who have food allergies or intolerances when planning larger family functions. These ideas would be move after a proper evaluation of the business model two or three yearsinto operations, based on how profitable the business is, where the demand for our product stands, how far our business has been able to expand, and whether we have the resources to pursue a venture such as this in addition to our prototype operations. Advertising/PromotionAdvertising efforts should be focused in the month prior to opening, for a huge poking towards the meter opening of the business. The following outlines some of the well-worn rates available for publicizing in Ottawa and the areaAdvertising method actingCosts AssociatedNewspaperStandard advertizing with a newspaper such as the Ottawa Citizen ranges up to $60 an ad for their online site (Ottawa Citizen, 2013), something that would be worth considering as the online movement for news and newspapers has been fairly large, as traditional print media has started to decline in popularity. This would make it fairly easy to run an effective newspaper endure for around or under $500 in the hebdomads leading up to the opening of our business.RadioBased on a contact at KISS FM in Ottawa, a standard rate for a 30 second radio commercial is $115, and they often offer one free for every one purchased (Tompkins, 2013). Because this is more expensive than newspaper advertising, within the last week before opening, we could run an effective campaign for $1150 (4 commercials per day x 5 days) account book of Mouth Word of mouth advertising is often the most important form that can be used, as people are far more willing to believe and trust what their friends have do or experienced than what an advertisement tells them. by-line opening the business, it would be profitable to offer small incentives to the initial wave of consumers in order to encourage them to bring their friends out to the food truck (for example, offering 20% off their next dish if they bring a friend with them).The results of this marketing push can easily be dogged through an assessment of weekly revenues when weighed against costs. If weeks go by consecutively where there is nominal or no profit showing, then it would be crucial to reassess the plan and make changes where necessary or able to. Though, when there are significant profits showing in the books, it may be wise at that point to pass over as planned, to ensure the plan continues to be an effective means of profit generation. pecuniary PlanBased on initial investments by the management team, to create our start-up ownership spread in the business shares, we have $20,000 to apply to our beginning costs in this business venture (100 shares x $200/share). This will cover around half of the purchase of a food truck to use (Lagorio, 2010), or the total licensing fees and partial inventory needed to get started. This brings us up short around $60,000-$75,000 to cover our start up costs and first year expenses to ensure our business runs smoothly and has the time to begin showing its own profit.Funding we are expecting to receive include small business grants from the Government of Canada. This grant and loan system offers to cover up to 90% of the financing required to get a new small business started (Industry Canada, 2013). However, this funding isnt guaranteed, so we will be looking for other forms of financing, beginning with business loans from banks, and other investors.According to our operating budgets, our two weeks first year cost s will run at around $3,940, which will be more than covered with our projected sales numbers, which allow for inflorescence season in the spring and summer months, and a slow season in the late fall and winter months (when people arent out on the street as much and running a food truck becomes costly and slightly impractical). In order to break even, we would have to sell 7200-8000 4,124 meal items over the course of the year, at a cost of $5 per item, or an average of 15-2011 items per day, which is a altogether feasible goal to meet. With summer months bring in more customers than the winter, the overflow would easily balance out those slow months, ensuring our goal was met and likely garnering some profits to put towards expansion and annual costs for our second year of business. And if the target is met, we can easily be able to pay a huge part of our debt or use the money in taking the business to the next level. The total projected annually net income after paying wages a re calculated to be around $35000 which can be divided by owners in their respective shares.Exit schemeOur food truck concept is offering food alternatives without the reactionincluding ingredients. Our service is serving the Ottawa communities from all range of different customers and different cultures as well. We apply to complot apprised(predicate)ness of food allergies in the city, and demonstrate our own working solution to besiege the shortage of allergy-friendly alternatives in the Ottawa area. As the business grows, we plan to turn our food truck shop into a franchise.According to Ottawa Public Health regulations related to food handling and storage, there are currently no restrictions on the types of food that may be sold on the street. On-street food vendors require a mobile refreshment vehicle business license and designated space permit issued by the City of Ottawa. The total annual fee for truck ranges from $4,703 to $6,748. The breakdown of these fees is as foll ows yearbook Business License recompense for Trucks $2,9816 Month Business License stipend for Trucks $1,945Annual Designated Space Permit FeeTruck (Downtown Core) $3,767Truck (Outside Core) $1,722Permits and business licenses are issued annually and expire on whitethorn 15th. After the initial issuance of the permit and license, it is required to renew the permit and business license within the renewal period of April 25th to May 15th each year.Furthermore, we are aware of policies relating to food truck business as following Public health oversight of food truck operationsThe operation of food trucks in public right-of-waysPolicy statements pertaining to mobile food vendingEconomic development programs relevant to food trucks such as financial incentives, societal media/technology tools or training Program for encouraging/promoting innovation in food trucksThe Food Truck is a Corporation owned by five members. A Corporation Agreement is include to allocate the profits or losi ngs in any ratio hold to between the partners. Each partner will consult a separate attorney at the outset, and all members should agree on the set terms and conditions of the corporation. We believe that a food truck is a unique business niche therefore we come up with a mini business review based on our business strategy, competitive landscape analysis, menu fit to consumer demographics, financial performance, management roles and responsibilities, employee qualifications, and community connection. We hope to expand our business to franchise in the next 3 years. However, we also look in consideration if there is an fit scenario for our business during the period or afterward. Because of this, we are focusing our energy on creating a business that buyers will want.We are working on our profitability, competitive edge, sustainability, scalability and corporate culture. In term of selling or fleeting on our business, we plan to hire the financial, sanctioned tax and business adv isor to help shepherd the sale through. This will baffle usfrom stressful, time-consuming border fraught(p) with moving parts and paperwork. Along with the financial, ratified tax and business advisor, we will also find a business broke banker in the area. This will help us to set a realistic petition price and assembling the necessary marketing materials for our business. The broker will discreetly contact potential buyers on our behalf. When it comes to risks, we are looking into the matters with close focus to identify the current and future problems for further analysis and coveted actions required to close the gap. There are vehicle risks, operation risks, and liability risks. For vehicle risks, the risks include auto accidents, fire, theft, flood, wind damage, fall damage and electrical breakdowns.These risks can be lessened through education and training. A commercial auto insurance reporting will help to mitigate the cost of damage and loss of operational ardor due to the carnal structure of our business. For performer risks, we are faced with slips, falls, cuts, burns, smoke stirring and back injury from all the effectual lifting that is required during the workload of the day. We are aware that our employees are our biggest asset and can also be our biggest liabilities. It is important to have them well trained for their jobs and duties. Workers stipend insurance will be added in their working contracts.For liability risks, food trucks pose liabilities to employees in many ways. Not only that they may hurt themselves during work, they are also at risk of food-related illnesses and auto accidents that are somewhat unique to food trucks. We are carefully considering investing in business insurance for liability, spoilage insurance, business railcar insurance and workers fee in order to adequately cover their bases. We have also analyzed our competitive landscape that includes competitive food trucks, restaurants, and food carts in the regions of Ottawa. This will keep us up to date of the marketplace and our competitors. Beside the risks, we are building up our business strategyBusiness physical location is the precedency pick. We are in the process of choosing our business location. There are some options such as near office complexes, downtown urban areas, along busy roads, recreation destinations. We also cater private and public events if we can get the contract. Business physical design is an eye-catch for the first sight customers. belongings themenu simple that customers can read easilyKeeping the menu at a degree of flavor familiarity which contain locally grown and allergy free ingredients Charging competitive prices. Budget discounts for bad die hard (sales can falls up to 50%) Establishing a regular customer base by providing the same quality food and products Keeping a clean and have business environmentHaving competent leadership and managers who guide the effort and monitor results world flex ible, with a willingness to re-evaluate based on performance feedback and to make necessary changes throughout the process in order to get the desire results As important as business strategy, marketing techniques are a must in this society of social and network. Using word of mouthUsing social media (todays special, chef tips, social only discounts, online to offline social gatherings), network to advertise our business (email marketing) expend in business cardsHosting a grand opening event to establish our food truck as a member in the local community Having loyalty program for returning customers (Buy 10 get 1 free) Creating awareness by joining in charity fundsServing for holiday partiesWe are aware that customer service is the most meaning investment that we should pay attention to in our business. We will show people that we love what we do. We will try to maintain a great product for a great price.BibliographyCanadian Food Inspection Agency. (2013, April 26). Acts and Regu lations. Retrieved July 10, 2013, from Canadian Food Inspection Agency http//www.inspection.gc.ca/about-the-cfia/acts-and-regulations/eng/1299846777345/1299847442232City of Ottawa. (2001-2013). 1.4 Projection Results. 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