The impact of COVID-19 was unprecedented not only on health and humanity but also on the global economy. Consumers have made a drastic shift in behavior, facing this crisis, but the crisis has had to be dealt with more by business people, partnerships, and the competitive environment.
Businesses have had to reorient, develop, and innovate to meet growing customer demand, and below we present how individual businesses have gained added value to address the current crisis.
Telemedicine – an audience who never tried telehealth services are comfortable with using it now (40% increase in telemedicine)
Pharmaceutical Industry – accelerateс the performance for a COVID-19 vaccine
Empowered Online Education Industry
Some manufacturers are reducing production, while others are increasing and adapting new technology to meet the growing demand
The eCommerce stores are facing the challenge of meeting their consumer’s needs;
The online payment platforms have improved their accessible payment solutions
Food delivery services are expanding their warehouses to integrate with neighborhood stores for hyper-local deliveries
Insurance industry increased 30-50% in insurance sales
72% project overall 2020 B2B marketing budgets will increase, while others will stay the same or only be cut moderately
The online gaming industry moved from the single unit sale to resourcing revenue from the base of active users.
Fitness industry adapted digital instruction modules to combat the impact
For San Antonio residents in Texas, one type of food delivery that has won them over is the use of ice cream delivery trucks and their upgrade for adults, delivering food and margarita.
Since the COVID-19 Pandemic hit the hospitality industry hard, the chef of Johnny Hernandez’s La Gloria restaurant was among the thousands affected.
When Hernandez found himself in such a situation, he devised a creative way that he could still serve the loyal customers of his restaurant without having to leave the security of his homes.
The in-truck margarita restaurant kicked off the streets on May 28 and has since brought taco sets, chips, and salsa and Mexican street corn. Certainly, their famous margarita was not missing, which Hernandez was sure the customers were missing.
From the beginning, the truck drove only within three miles of downtown Crockett Park, a San Antonio neighborhood, but later the restaurant added another truck and now serves the Leon Valley, Alamo Heights, and other neighborhoods.
How important is a margarita?
Purchasing the famous La Gloria margarita is not easy, because you must first place an order online, and it is quite expensive (16 ounces is ten dollars or a set of margaritas for six people up to 38 dollars).
It has the aroma of pear, mango, and margarita, but alcohol is only delivered if at least one food item is ordered.
Truck working hours:
- Monday to Wednesday from three in the afternoon to eight in the evening,
- From Thursday to Saturday from noon to eight, and
- Sunday from noon to six
Steps to Start Your Own Food Truck Business
Experience shows that working with food trucks can be a great way to live even in a pandemic. If done successfully, you can earn up to $ 500,000 a year, and the costs are only $ 40,000.
There are four things to start a successful truck food business, and they are:
- The competitive and attractive concept that sets you apart,
- Good business and financial plan,
- An effective marketing strategy to build a customer base and,
- Equipped food truck.
These goals can be achieved in eight steps according to fitsmallbusiness.com:
1st Step: Market Research
Good planning is one of the most important conditions for success in the business of food trucks or any business. It is necessary to do research where the truck should be parked so that customers can easily find it, and to be sure to know the local laws. Researching and knowing the competition is of great importance, so you should try to do something different from others in this business. A good idea can be of fantastic help to you, but it is also good to take some time and visit other trucks with food and science which is popular.
2nd Step: Get a Name and an Idea
After researching the type of food, you will offer, which should interest customers, you should give that dish a name, related to the type of food you offer and the vibration you want to give. That name should be easy to pronounce.
A logo is added to the name, which should correspond to the concept you have chosen and be exciting and noticeable among other similar businesses.
3rd Step: Create a Business Plan
A good business plan is a next step significant to your success. It should include:
- Business description
- Market analysis
- Organization and management
- Product line
- Marketing plan
- Financial projections
4th Step: Get Your Licence and Registration
The permits you need to drive a food truck can cost from $ 100 to $ 500, depending on where you live. This job usually requires the following:
- Mobile food permit
- Food safety certificate
- Medical license
- Compensation to workers
- Food handling permit for employees
- Business insurance
For all the documents that are necessary, it is mandatory to do your research ahead of time and include these costs in your plan.
5th Step: Finance your Business
The cost for such a food truck business can range from $ 40,000 to $ 200,000, and certain ideas and rough estimates can be found at Mobile-cuisine.com.
Small business owners can take advantage of a variety of financing options, such as equipment financing programs, investors and crowdfunding, and small loans. And researching what is available in your area would help you determine the best option.
6th Step: Design Your Menu Board
The best way to show customers what kind of food you offer is to attach a menu to the side of your truck.
Be persistent in reflecting on your topics and ideas, but make sure the menu is easy to read.
Food descriptions should be as concise as possible and your best sellers should be highlighted.
7th Step: Get the Truck
It can cost a little over $ 3,000 to buy a used food truck, but if you want to get a new one then you need up to $ 200,000. You must calculate the costs of converting the truck with the necessary equipment at all costs.
It is very important to use the complete space, every corner of the truck because that way you could save thousands of dollars on the road.
Make sure your truck is properly insured as this is very important if something happens.
8th Step: Market your Truck
Marketing is the final step in starting a truck business, so you can use a combination of network and traditional marketing strategies. Including social media marketing, being with your truck to local events, sending flyers, and building a good website can be just some of the ideas you could apply.
A Lot of Work, a Lot of Rewards
A lot of footwork is involved in starting a business with food trucks, but the effort put in properly can be extremely successful.
Leaving full-time office jobs, many people across the country took the road and never looked back.
The hard work of driving a food truck should not discourage anyone, because it can be fun and useful and give owners more freedom in life than they ever thought is possible.