MyConcessionBusiness.com

Archive for July, 2010

  Just because you are a health food fanatic does not mean that you cannot become self-employed by opening your own concession stand. There are plenty of people that would prefer to have a healthier alternative available to eat, not only for themselves but for their children as well. Many festivals, fairs and other events only offer concession stand food so people have no choice to make unhealthy food choices but they may actually prefer to have an option that is good for them, especially in today's society when more and more people are becoming health conscious everyday. Of course, some of these healthy concession stand ideas are not extremely healthy foods, they are better for you than items that are fried or loaded in sugar.

Frozen Yogurt – This is ideal especially for a hot day. You can choose to just carry one or maybe two flavors and have toppings that have a long shelf life and that will not melt like granola, nuts and coconut. If you know business will be busy, consider caring one of two types of fruits to top with such as raspberries, blueberries, sliced strawberries or kiwi.

 Popcorn – Nothing draws a crowd like the familiar aroma of fresh popped popcorn. Of course you will want to have butter and salt on hand for those that prefer their popcorn flavored but many enjoy it as a healthy snack plain.

1. Frozen Bananas – So, chances are, your frozen bananas will probably be dipped in chocolate but at least the banana is healthy, full of vitamins and potassium which is a plus if you are looking for healthy concession stand ideas to set up around sporting events like children softball or soccer games or anywhere people might be sweating and in need of something healthy that will refresh their energy levels.

Vegetarian Burgers and Hotdogs – You do not have to be a vegetarian to enjoy these either. Many people are looking for healthy alternatives to meat that are still full of protein.

1. Fresh Fruit – Ideally, you can simply prepare fresh fruit cups or you can also sell large slices of watermelon, frozen coconut or even contains of frozen grapes or berries. Fresh fruit appeals to people of all ages and chances are you won't have any competition.

Are you anxious for the day that you can become self-employed? Owning a catering truck is one of the easiest ways to get started in the food business. You may have dreams of owning your own restaurant and this is a stepping stone or you may find that you love the freedom and flexibility of a catering truck business so much that you want this to be your career. But, where do you begin?

1. Obtain Licenses and Permits – When you begin a catering truck business of your own, you will need to get a local business license and you will have to meet food business requirements that are set by the Health Department.

1. Buy a Catering Truck – Rather than having a retail location or a store front, your business will be ran completely out of your catering truck. You can either build a truck for this purpose or you can buy one that is already designed with all of the bells and whistles that you need. Economically, the best option is to buy a used catering truck but you will need to thoroughly inspect it, drive it and make sure that all of the appliances are working properly.

1. Plan Your Menu – The menu posted on your catering truck should be simple to read and easy to understand. Keep in mind that you are usually dealing with people that are on a limited amount of time on their lunch hour or a coffee break. They want food that is both tasty and easy to eat complimented by quick and efficient service.

1. Develop Your Route – Location is one of the most important elements of any successful business. You need to choose locations where there is plenty of foot traffic and hungry people. You may want to devote your breakfast hours to the corporate world who may already be on their first break at the time when other company employees are just arriving and then cater to the factory and construction workers in the afternoon when these hard working employees are the hungriest. It is extremely important that once you establish you route for your catering truck business that you remain consistent, arriving at the same time everyday so your customers will know when to find you.

Is the concession business profitable? The truth is, it is probably far more profitable than you can even imagine. Most people have the dream of becoming self-employed however, not everyone is either suited for the task or up to the challenge. Lack of commitment, inadequate capital or a fear of failure are all things that hold many people back.

However, there are plenty of driven individuals that will tell you that the answer to, “Is the concession business profitable?” is absolutely and positively, yes! Concession stand businesses offer the unique possibility for you to make a substantial amount of money within a very short period of time. With a moderate investment of your time and capital as well as a thoroughly thought out business plan, you can live a comfortable life that you would not otherwise be able to have if you were still on someone or some company's payroll.

If you compare the profits of a concession business with almost any other type of business, the concession will come out far ahead because it can be started with such little start-up capital, a minimum amount of additional employees or, in some cases, no additional employees and for the most part, far less hours worked. A full-time income of substantial size can be obtained with only a part-time effort.

When you run a concession business you have the independence and freedom to build your business and your income as large as you desire. You control your future. You will never need to be paid based on what your time is worth like at a regular job. Most importantly, you can never be written up, laid off or fired.

Also, the concession business can be a ton of fun. You are making money in an exciting and relaxing environment, surrounded by a plethora of interesting people. So, is the concession business profitable? It is profitable in ways that you cannot imagine. You can make an exceptional income, have fun and enjoy your life to the fullest extent being self-employed with a concession business.

Forming a business plan for a concession business is the most important step of the whole process. Chances are, you probably already have an idea of what you plan on selling but if you don't, this is the time to make that decision. Your business name will need to be determined which should relate to your product and you will need to select a business structure for tax purposes. You may want to do a bit of research on the pros and cons of a limited liability company, sole proprietorship or a partnership. Also, if this is going to be a partnership, you need to be precise with what each person's responsibilities will be.

When you are forming a business plan for a concession business, you need to be aware that you will probably need a certificate granted from the health department that states that you are educated on how to prepare and serve food in a safe and sanitary way. You will also need a license allowing you to do business.

The next thing you will need to do when forming a business plan for a concession business is set up a realistic time line and use this to establish your goals. This time line will also help you decide the time you are willing to spend on development and marketing. Be careful not to make the mistake of setting unrealistic goals.

You will need to spend a bit of time analyzing opportunities for your business. Do you plan on being grounded at one location or will you have a concession trailer and travel from festival to festival. Your time line will also allow you to create milestones for securing your location, buying equipment and your estimated date of when to open your business. List intermediate and long-term goals that are attainable and attractive to investors and banks. Of course, if you are seeking outside funding you will have to know how much money you will need and be able to explain exactly how it will be used.

Forming a business plan for a concession business may seem like a time consuming task but it is the only way to be sure that you cover all important areas that need attention along the way to obtaining your goals.

Many people wonder, “Should you start a concession business in a slow economy?” After all, you will be investing your time and money into something that you do not know if the economy can support. A lot of potential business owners face this dilemma everyday. You may know that you have a product that has potential and you want to go into business for yourself but you are afraid that this slow economy is going to prohibit you from turning a profit. Will you be able to survive the start up period when revenue is low yet your your overhead is high?

The first thing you need to do when you are asking yourself, “Should you start a concession business in a slow economy?” is make sure that you have your old debt paid off and a little extra money saved up. You can profit from starting your own concession business, regardless of economy but you need to have money to fall back on when business hits a low, which it may do from time to time.

If you have a significant amount of money saved up to pay your bills, you will be able to solely focus on your business without the added stress of finances. So, should you start a concession business in a slow economy? Absolutely! As long as you are financially secure and you take the time to create a thorough business plan.

The best thing that you can do for yourself in a slow economy is become self-employed. A good majority of businesses are down-sizing, raises are rare and it seems like the average person works harder, longer and for less money. Concession stands are an ideal way to become self-employed. Additionally, you can even begin with only working on the weekends and keep your regular job while you are starting out. This way you can bring in a little extra income to pay off old debts, loans for equipment and save up a little nest egg so that when you are ready to go at it full time, you are financially secure, comfortable with the business and well-established.