Food Truck Enterprise: Business Transformation, Branding & Operational Improvement
Our client is an established vegan & vegetarian food truck enterprise based in California. They are a locally-recognized food truck brand, having gained substantial buzz over the last 5 years for their exquisite variety of traditional Indian cuisine. Their operations include in-person sales, pick ups, and food delivery across 2 food trucks. For B2B operations, they facilitate small scale catering on an ad-hoc basis. They sought out our expertise in improving their overall operations with a focus on revenue optimization, refined marketing strategy and standardization of their business operations.
Our client by the numbers
$297K
Annual Revenue (2023)
22%
Annual Revenue (2023)
5
Years in Business
$1.5M
Business Valuation
2
Locations/Foodtruck
Key areas we addressed
All existing business functions including Sales, HR, Customer Service, Supply Chain & Marketing to assess SOP and efficiency levels.
Long term financial, operational, and growth strategies and evaluate their current impact on business operations to determine their current effectiveness.
All applied strategies that have yet to improve customer acquisitions and retention across new and existing sales channels.
Current marketing strategies and brand dynamics across all channels to identify bottlenecks limiting sales conversions and customer acquisitions
All current sales channels, including e-commerce, B2B, partnerships, and ad hoc catering contracts for ROI assessment
The operational feasibility to quickly launch and scale a B2B catering service for schools, community events, festivals, conferences etc.
Our Strategy & Execution
01
Comprehensive Operational Diligence
We kickstarted our approach by conducting a comprehensive due diligence of their business operations. This includes an assessment of the main business functions, an assessment of their operational efficiencies, and an assessment of SOP implementation and application across the 2 food trucks.
02
Financial Due Diligence
A comprehensive financial analysis was performed to obtain an in-depth understanding of their business performance to determine the YoY impact of pricing and cost strategies on profitability. This will aid in assessing the need for any cost-cutting measures and/or pricing adjustments to increase revenue.
03
ROI & KPI Assessment
Our team followed up with a 5-year comprehensive assessment of their ROI and KPIs for the strategies that have implemented. Some strategies included the hiring of a marketing agency for branding & Google Ad campaign, influencer partnerships, menu design, and sales strategies that aimed at improving profit margins.
04
Competitive Analysis : SWOT
We leveraged the standard SWOT Analysis framework with application to the food & restaurant industry. We assessed their current operations and positioning in comparison to market standard and local competitions. Our strategy targeted pain points within their operations that have gone unsolved. We also identified opportunities within menu and pricing whereby new business strategies can be implemented.
05
GAP Analysis & Growth Assessment
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We identified gaps within their current operations that can be addressed to stimulate growth and efficiency. The main areas hindering growth opportunities that were identified included:
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limited marketing and brand strategies based on KPIs
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limits with brand appeal to online customers via DoorDash, UberEat
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challenges with catering services and customer service
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Key Deliverbles
01
20+ Operational Strategies
We developed 20 key strategies with comprehensive implementation plans that can improve operations across HR, Marketing, Customer, Finance, and Sales. The overall execution strategy is flexible, allowing our client to configure the best way to implement each if not all, over a 3-month period.
02
5-Year Growth Strategy Plan
We delivered a comprehensive approach for executive milestone for secure additional growth opportunities via customer acquisition, pricing strategies, and brand engagement via social media. This plan also includes early guidance for future business expansion via franchising.
03
Revamped Revenue Channels
Revamped DoorDash and UberEats across all locations to improve brand positioning and sales conversions. Introduced a new branding kit with marketing tactics that can increases brand appeal and repeat purchase rate eg. redesign print marketing, revamp menu design, incorporate daily and weekly specials etc.
04
Catering Services Launch
Restructured and launch their official catering services targeting local organizations, businesses, agencies and community events. Revamped pricing, menu composition, introduced contracts, and setup lead generation platform for ongoing use.