MyConcessionBusiness.com

Are you thinking about starting your own business as a way of making extra money? If you want to become self-employed to put some extra money in your pocket for bills, vacations or school, the concession food business is the perfect place to start. Making extra money this way is extremely easy and a whole lot of fun. It is a business that allows you the unique opportunity to work outdoors at fun events and the chance to meet tons of interesting people.

A concession trailer has the ability to be moved wherever the people are gathered which makes making extra money super convenient with endless potential money making possibilities. Fairs, festivals, sporting events, parks or the busy corner of the business district in your city, anywhere there are people, there are opportunities to make money. On the other hand, should you decide to set up a semi-permanent location, that is always an option too.

A concession food trailer is the perfect way to get into the food business. It can be as profitable if not more profitable than a traditional restaurant with a lot less work. Making extra money is simple and fast because it requires very little start up capital and you don't have to hire a whole restaurant staff. You can literally triple the amount of money you spend on product in only one day.

Making extra money with a concession food business is also ideal because you can choose to just work at it part time on the weekends if you have a day job that you love or it is a perfect opportunity for a summer job for students. Of course, if you want the freedom of being your own boss and setting your own schedule, making extra money can easily be making full time money for your sole source of employment. Many people choose to open a concession food business as the perfect way to retire and have extra income or as a great excuse to travel and take their business with them. The best way for making extra money is by starting your own concession food business.

Finding concession trailers for sale is actually the easiest part of opening a food concession trailer business. Once you actually start looking, you may be surprised at how many are even in your local area since business owners are constantly upgrading and retiring. Of course, you will first need to decide if you want a new or used concession trailer.

New concession trailers for sale are easiest found online. There are plenty of websites that not only sell an array of styles of trailers, they will also customize them for you with the options that you need. Special options include quiet generators, flat tops, grills, fryers, sinks, toasters, freezers and refrigerators. Although new concession trailers for sale will cost you more money, they will also come with a full warranty and you can design them with the exact options that you want.

If you are looking for used concession trailers for sale, you may have luck finding one in your area. Check you local newspaper classified ads or try your luck at local automobile auctions. It it always recommended that you ask any questions on the item prior to bidding. If you cannot find anything locally to suit your needs then there are a ton of concession trailers for sale online, even online auctions. The only downfall to shopping online is that you may not be able to view it in person as easily. It is recommended to find something close enough for you to go view the trailer in person to inspect. Of course, if you find a good enough deal on one, the drive will be well worth it. Although used concession trailers for sale will probably not have a warranty on them, they will cost you quite a bit less money so they are definitely ideal for someone just starting out in the business and on a tight budget. Also, do not rush into buying one. There are enough of them for sale that you can be selective and wait for the perfect one that is in your price change offering the exact options that you need

There are a few basic business strategies that you should apply regardless of the type of business that you are in. Quite often, entrepreneurs are so preoccupied with all of the immediate issues and day to day tasks of running their business that they tend to lose sight of what their ultimate objectives are which is why a strategic plan is so incredibly necessary.

Do not confuse a strategic plan with a business plan, they are not the same thing. Your strategic plan actually provides the foundation for your business plan. An effective strategic plan needs to be both attainable and realistic. Basic business strategies include reviewing past performance of the business and employees, focusing on all matters that are of strategic importance including marketing, and distinguishing clearly between cause and effect.

When you develop your strategic plan you need to clearly identify the current status of your business as well as all of your objectives. Write out weaknesses, strengths, opportunities and threats. You need to focus on building on your strengths, exploiting all of your opportunities, avoiding potential threats and resolving your weaknesses.

Next you need to take the time to set your business goals. These should be specific, time-based measurements that you plan on achieving by implementing your strategies. Your goals should be consistent, achievable and quantifiable. They can relate to finances, products, market, utilization, profitability, expansion and efficiency.

When outlining your basic business strategies, your objectives, strategies and goals need to be inter-linked and also consistent with each other. Of course, this is easier said than done since most businesses are set with objectives of purely becoming exceptionally wealthy as fast as possible, but they lack realistic goals, strategies and concise missions. Make sure that you develop attainable goals and review your strategies often to make sure that you are on track to be successful with your business.

Be sure to visit the new forum below!  We are sharing a forum with MyDonutbusiness.com..  You can interact with others who share interest and have experience in the concession business.  Enjoy!

MyConcessionBusiness.com Forum

Every entrepreneur knows that overcoming obstacles in business is just one of those things that you have to deal with from time to time when you finally become self-employed. Most people may consider an obstacle quite a nuisance but, believe it or not, they can actually help your business.

Although overcoming obstacles in business may cause a bit of stress and frustration at the time, these obstacles also allow you to evaluate what is working and what isn't. A lot of trial and error is involved in building a successful business. If you are not coming across and error once in awhile, that means you are not pursuing enough trials.

To be a successful entrepreneur, you need to aim to constantly discover ways to improve your product or service and find ways to pull away from your competition into your own league. Opportunity will not come and knock on your door, you need to pursue your own dreams and make them happen and do not let anyone stand in your way. Walt Disney was ridiculed everyday for his ideas but he followed his dreams and created a multi-billion dollar company.

To be successful, you need to take risks. Overcoming obstacles in business allows you to develop strength and gives you the courage to seek out new opportunities. When obstacles arise in your business, you need to look at them as a learning opportunity and be thankful for them rather than be frustrated. When you are faced with a huge decision or dilemma, take the time to sit and write a plan of how you are going to get through the situation or weigh all of the pros and cons of your decision first before following through.

Overcoming obstacles in business is as simple as changing your attitude and how you look at things. Be thankful that you have a business and focus on positive things. You created your business and only you can overcome the obstacles that it brings.

Getting capital for your concession business is not as hard as you may think. Raising capital is a basic business activity that does not have to be painful. First, you will want to explore the following options:

• Personal Savings – Depending on the start-up costs of your business, you may be able to use personal savings and credit cards. However, if your credit cards have a high interest rate, this is not a recommended option.

• Relatives and Friends – Most relatives and friends will loan money interest free which is ideal.

• Banks and Credit Unions – If you have a sound business proposal, you will probably be able to get a business loan from a bank.

Writing a Loan Proposal

Getting capital for your concession business will require you to write a loan proposal. Ultimately, approval of your loan depends on how you present yourself and your financial needs for your business to the lender. Keep in mind, lenders want to write loans but they need to know that the loan will be paid back. An ideal loan proposal will contain:

• General Information – This includes the business names, owner name(s), social security numbers of owner(s), business address, purpose of loan and amount requested.

• Business Description – History, nature and type of business and how many employees you plan on having, if any, should be covered here.

• Management Profile – You will want to develop a statement on each owner of your business including background experience, education, accomplishments and skills.

• Market Information – Define the products you will sell as well as the market you will sell in. you will want to identify your competition and explain why you can compete and how you can fulfill the needs of your customers.

• Financial Information – This will cover the projected income statements and balance sheets as well as any collateral that you may be willing to use to secure the loan.

When you get your loan for your concession business, it is important to make payments on time, you never know when you will need another loan to expand your successful business!

Finding a Mentor in the Concession Business

Finding a mentor in the concession business is actually simpler than in other businesses, for the most part, because concession entrepreneurs have all been where you are and once too had the dream to become self-employed. You will find that most people either currently in the business or retired from the concession business are good-hearted individuals and as long as you are not trying to to use their knowledge to take their business away, they genuinely want to help.

So, how do you find the right one? That depends on how selective that you are. Most governments will offer mentoring for small businesses. Quite often, they will offer entrepreneurs free workshops and mentoring from successful retirees. There are also professional organizations that offer mentoring programs.

Direct Personal Contact

Finding a mentor in the concession business is most commonly done by finding someone in the business on your own. An easy way to do this is to go to a fair or a festival and find a busy business. After closing or during a slow period, ask if the owner would mind if you set up an appointment to speak with them for a half hour or so one day or if they can recommend any good mentoring organizations in the area. There is a good chance that they will be flattered and happy to talk with you and possibly be your mentor or at least point you in the right direction of finding one.

Choosing From Several Mentors

If you are choosing a mentor from several choices, you need to decide which one is right for you. Meet with them and have a prepared list of questions that are important to your decision. Find out their current situation, history and goals. When you propose a mentoring relationship, you need to be sure to spell out expectations and goals. Remember that even though a mentoring relationship usually lasts long beyond a few meetings, neither one of you is obligated to be locked into the relationship.

There are many fantastic benefits of being self-employed. You may find yourself wanting more in life and a job that you have been comfortable at for so long may just not be satisfying you anymore. Perhaps you are tired of the predictable routine of your day job and being paid what someone else thinks that your time is worth and never being appreciated. Taking the first step to become self-employed is the hardest but once you get started you will be able to bask in all of the wonderful benefits of being self-employed.

Job Security

People are being laid off and fired for no reason other than the company needing to cut wage costs which means the employees that are still employed are having to handle more work than ever before without any additional money. You can lose your source of income at any time. Why give someone else control over your future? One of the benefits of being self-employed is that no one has the power to fire you. Only you control your future.

Hourly Pay

More and more people are forced to work longer and harder hours for far less pay than what they are worth. When you become self-employed, you control what hours you work and how much money you ultimately make. For example, brilliant individuals will start a concession business and only work the spring and summer, selling their product at fairs, festivals and sporting events and make enough money to live on all winter. Sure they work hard but then they have a season to travel and relax and do whatever they want.

Experience

When you work the same job everyday, you are never furthering your experience level. Is the job experience that you have right now going to keep you employed and be worth any value 10 years from now? One of the fabulous benefits about being self-employed is that you can constantly learn things that you can apply to your business to increase your success.

  If you have been to a fair or a festival, there is almost a guarantee that you have patronized some type of a concession business, whether it was food or drink. Fairs and festivals really are ideal for the concession business because a good percentage of visitors come to these events for the sole purpose of eating and they come to spend money.

 Just like baseball is associated with hotdogs and peanuts and the movies scream buttery popcorn, fairs and festivals represent some of the favorite foods of many people, especially funnel cakes, pretzels, elephant ears, cotton candy, caramel apples, ice cream and of course, hotdogs and popcorn.

 Fairs and festivals are the ideal venues for concession stand businesses because they provide a constant flow of foot traffic that purposely comes hungry so they can eat as much of their favorite food as possible. There is no restaurant competition to deal with. The only choice that people have is to purchase concession stand food, not that they would choose any differently anyway.

 These events offer low overhead, easy set up and a guarantee of hundreds or sometimes thousands of potential customers everyday. Even if the weather is bad and there is an off day in visitor numbers, all of the employees of the fair or festival still need to eat.

 These places are full of concession stands and most business owners will watch out for each other. Bathrooms are convenient as are water sources and waste removal and the profits are huge. On a hot day, people will spend a large amount of money on a beverage as long as it is cold enough to quench their thirst and cool them off. The best part is there really is not a “bad” location to be set up at, there is the potential for huge profits whatever location you secure.

 Concession stands symbolize fairs and festivals, you almost cannot have one without the other. These exciting events offer concession stand business owners the opportunity to make a substantial amount of money in a very short period of time.

  Finding the right location for your concession business can most definitely be a daunting task. Location is the key component to the success of any business, especially a concession stand. The location possibilities are truly endless to set up shop at including fairs, festivals, carnivals, flea markets, malls, parks, etc. Of course, the spot that you ultimately choose is often going to be influenced by just how much money that are willing and able to spend to secure your desired location.

 Outdoor events are perfect places to look when you are trying to find the right location for your concession business. You are looking for a spot where there is a consistent flow of heavy foot traffic. Carnivals and other outdoor activities are ideal to set up at because there is easy set up involved and overhead costs are generally quite low.

 Keep in mind that the prime locations at an event are going to cost you more than being in the sidelines so this gives you another huge decision to make. You may choose to pay top-dollar because you know the profit will be well worth it if you set up where the masses will flock to eat or you can often pay a substantially less amount of money and be where there is less foot traffic. However, if you are selling a more original product that other concessions may not have, you may opt for this choice because the people will travel a few extra steps to access your product.

 You may even want to consider setting up at food drives or charity garage sales. These events draw a giving crowd and if you are giving a small amount of your profits to the cause, you will attract even more traffic.

 There are endless possibilities of where your business can take you. Do not put a lot of stressful thoughts into finding the right location for your concession business. Go where the people are, sell a tasty product and offer outstanding customer service and you will do just fine.