Running a successful food truck business can be very lucrative, but you’ve got to know how to diversify your revenue. Sure you can make a solid income doing the bare minimum, but with a few tweaks to the business plan, you’ll have the most popular custom-designed food truck in town. Here are six ways to create alternate revenue streams for your business.
1. Blog Regularly for Your Food Truck Business
In 2020, marketers who blogged for their businesses received 13 times more ROI than those who didn’t blog or even blogged but it wasn’t on a consistent 2 to 4 times per month cadence. A successful food truck blog will attract new local customers to your business website and will strengthen the relationship you have with returning customers. Use your blog to set yourself apart from other food trucks by giving customers a sneak peek inside your business operations or share fun stories about your day-to-day adventures.
2. Harness the Power of Social Media
If you haven’t already, it’s time to get your food truck business on social media to get your name out there and to bring customers to your window. A successful food truck owner uses Twitter to alert followers about their location.
Which Platforms for Your Food Truck Business?
Your food truck’s Facebook page is a great place to advertise upcoming events and food specials to local customers. Foursquare is also a great platform that can quickly bring customers to your food truck for lunch or dinner — and it’s a popular app among younger users.
3. Distribute Your Signature Spice Blend
Do you have a special sauce or a signature spice blend? Perhaps your made-from-scratch sourdough bread or handmade pasta are local favorites. Consider distributing your unique product at a local shop to help generate more income for your business and to get your name out there in the community. If new customers buy your products and like them, they’ll be more likely to stop by your food truck for dinner — and they’ll probably tell their friends, too.
4. Partner With Local Businesses
Consider partnering with other business owners in your community. Like they say, “two hands are better than one,” and we think the same goes for businesses. If you can find a good match, you’ll be able to mutually benefit from the partnership and your revenue will increase as well.
5. Cater at Exclusive Events
If you’ve made a name for yourself in the community, you can start advertising your catering services. Create packages for prospective clients and pitch your business to them. Consider events like weddings, birthday parties, and holiday gatherings. Challenge yourself to fill your schedule with catering events and your revenue will skyrocket.
6. Teach at a Local Community College
Have you thought about sharing your skills and experience with business students? There’s no better teacher than one who has firsthand knowledge and your experience has great value. Consider sharing what you’ve learned with the next generation and you’ll generate another form of income in the process.
A Few Extra Steps Can Go a Long Way
Your food truck business can be very successful if you take a few extra steps to diversify your income. These daily tasks will also help your business to run efficiently. If you’d like to learn more about creating your food truck, contact us here at Legion Food Trucks today.