Last week One Fat Frog Restaurant Equipment looked at how to forecast the expenses for your food truck. We hope we helped you with this task in starting up your food truck and we hope we changed a few lives along the way. Creating financial projections for your food truck is an art and a science, neither exact ones. So this time we’re back with some more financial tips for food trucks. These are some of the fundamentals to help you compile financial information a bit easier.
• Using spreadsheet software to project your finances will make things much simpler and smoother for you. Spreadsheets provide great flexibility and allow you to change or forecast in a cinch and weigh in with different scenarios. Excel is the most commonly used spreadsheet software out there. It’s easy to learn and use and comes with a great support plan from Microsoft. Check it out.
• It’s pretty much impossible to get things right the first time. In financial business planning it’s essential to factor in different scenarios, including emergencies – like if a piece of equipment breaks down, for example. Explore these different scenarios and determine what works best financially. Keep cranking out the spreadsheets until you find a reasonable and affordable result.
• Breaking your forecast down into different components will make your life a whole lot easier. For example, instead of lumping together your monthly food sales, project for individual meals. $10,000 in food sales should be divvied up into 1,000 meals at $10 each. This will make it easier for you if you change your menu prices.
• While getting financial advice from another food truck owner is a great idea, make sure when you present your business plan that your numbers are your own. There are far too many variables to consider to be using another food truck’s forecast. As the food truck owner, your the one responsible for achieving your objectives – so you have to be the only one behind the numbers you present financial backers.
• Always. Be Consistent. ABC. Make sure your financial plan is consistent with the rest of your food truck’s business plan. If a backer discovers that the numbers don’t gel together, you’re going to be thrown out on your keester. Remove any inconsistencies.
One aspect of the food truck finances you can save on no matter what is the food truck equipment. One Fat Frog Restaurant Equipment has helped dozens of start-up and established food trucks get all of the used food truck equipment they need! No matter what kind of food your serving up to the drooling masses on the street, One Fat Frog has got the affordable equipment you need.
And through our simple and painless financing plan you can get what you need for cheaper than you probably forecasted! No one will be turned away from our financing program no matter what shape their credit is in! You can get everything you need for a dominating food truck for $200 to $500 a month! Find out more about our wicked easy financing plan here: http://onefatfrog.com/financing.htm
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