Rough Draft - Marketing Plan.pdf - Industry Analysis Being...

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Industry Analysis Being a part of the mobile food service industry Cartel’s Kitchen Seafood and More is apart of a growing industry. Food trucks have the ability to go to locations where their customers will be, along with offering to cater to events such as concerts, corporate events, and weddings. This industry grew from $650 million in 2012 to $2.7 billion in revenue by 2017 (Mobile Cuisine, 2018). The rate at which the mobile food service industry is growing at is outpacing the overall economic growth which averaged 2.2% growth throughout the same periods. In the Jacksonville, Florida area there are not many food truck options that offer seafood and chicken wings which provides ample opportunity for Cartels Kitchen to build a strong name for itself in the local food truck scene. The mobile food service industry life cycle consists of foundation, survival, success, rapid growth, and maturity. Currently, Cartels Kitchen is at the end of the foundation phase and heading into the survival stage. The food truck is completing its first year in business and accomplished acquiring customers and now needs to work toward increasing revenues to fund a rapid growth phase. During their survival phase, they need to acquire new customers by taking advantage of some of the great opportunities available in the Jacksonville area. They will need to start attending the Jacksonville Art Walk and try to get a slot in the Jax Food Truck Food Court. Some of the competitors in the area that they will need to be concerned about include Island Girl Seafood, Team Love Seafood, and What’s the Catch for some of the local seafood themed food trucks. Additionally, other competitors also offer both shrimp and chicken wings meals such as Bawk Bawk Chicken Truck and Triple 3 Kings. Along with competing with other food trucks, they will compete with physical restaurants like Wingstop, Hip Hop Chicken, and Holley’s BBQ. Cartels Kitchen can leverage its signature crab boil wings to differentiate itself from the other seafood food trucks and leverage its mobility to compete with its restaurant competitors. Jacksonville does not have very strict restrictions set in place that would make it hard for a food truck to compete against established brick and mortar restaurants. The city provides a checklist for food truck owners that includes what items they need to acquire or submit from/to the city and at the end of the checklist it provides the restrictions that food trucks are subject to within the downtown limits and outside the downtown limits. 1 Target Markets Summary Cartels Kitchen Seafood & More is looking to secure a loyal community following in the Urban Core neighborhoods and in the greater Northeast Florida. Cartel Kitchen Seafood & More operates as a food truck in the Moncrief Park neighborhood of Jacksonville, FL. The company has plans to explore expanding into a restaurant in the Moncrief Park neighborhood. Within four years the company plans to expand into a chain of restaurants throughout the United States.

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