So, your food truck business is doing well, you’ve built a loyal customer fan base and you’re confronted with the question every successful food trucker faces - are you ready to expand to a restaurant?
The food truck movement has seen a revenue increase of 12.4% - so it comes with no surprise that street food restaurants are popping up everywhere. But how do you know if you’re ready to branch out to a brick-and-mortar restaurant? Well, just ask yourself these 3 questions.
You may be feeding the masses day-in, day-out, so the thought of progressing to a restaurant is your next logical step. But if there’s one thing you should consider first, it’s how positive is your cash flow? Although you’re bringing in the customers, are your overheads high? A permit, ingredients, staffing, it all adds up - so how much are you actually taking home in cold hard cash?
The costs of running a restaurant compared to a food truck are much higher, so it’s important that you monitor your cash flow at all times to ensure you’re ready. Having the right technology, such as a POS system with reporting capabilities, will help you to stay on top of your numbers.
Making that step-up to a restaurant means that you’re predicting business will be even bigger, so do you have reliable suppliers on hand for your increased consumer demand? The more customers you gain the more food you’ll need, so make sure you have a trustworthy supplier that can always provide you with quality ingredients - the last thing you want is to run out of something on your menu!
You’re only as strong as your weakest link - and a restaurant needs all hands on deck at all times! Expanding to a restaurant means you’ll be a lot more busy than you used to be, so it’s important that you have a secure workforce behind you that you can rely on when you’re not on the premises. A loyal and dependable team is crucial to your restaurant’s success - so keep that in mind when you’re recruiting.
If you want to discover more about how to make the next step from food truck to restaurant, or if you want to chat with experts from the industry about how you can advance your street food business, grab your FREE tickets to Street Food Live today!
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