Outline Section A: Business ConceptSection B: Industry AnalysisSection C: Regulation and Legal ReviewReferencesDetails Section A: Business Concept: (50 points) Please describe the purpose of the selec

Market Research assignment 6

Brent Boca

DeVry University

03/15th/2026

Food truck business

The kind of organisation that I would most likely concentrate on is one that is a food truck company that specialized in providing foods to customers. People are reliant on food for their existence on a daily basis, and the food sector is expanding at a faster pace than ever before. I have developed an interest in this industry due to the fact that I am confident in my ability to do well in this profession and because I want to make sure that the cuisine that I give to my customers is to their satisfaction. One of the food trucks in the region where I would want to operate serves tacos, and there are only two food trucks in the area that sell seafood (Amaltea Fatimah Firdausi, 2026). The fact that there is space for me to establish my own company and expand it is a sign that there is absolutely such room.

Starting a business that uses food trucks requires a strong passion in the industry as well as a willingness to put in a lot of effort and focus. Even though you may be eager to get started, there are a few legal prerequisites that must be fulfilled before you can start in a suitable way. The first thing I will need to do is apply for the appropriate license and certifications that would enable me to operate. I will also be in charge of fulfilling the financial commitments related to the food truck's insurance and obtaining the required permits (Koay, Cheah, 2023). I would have to establish a limited liability company (LLC), a kind of legal structure that is exempt from personal liability, as part of the business creation process. Every single revenue generated by the limited liability business (LLC) must be recorded on the personal income tax return. Getting a vendor's license is crucial since it allows a company to legally profit from the sale of its goods (Amaltea Fatimah Firdausi, 2026). In New Jersey, where I now reside, a license may be purchased for between twenty and fifty dollars, and the application procedure can be finished on the state's official website. In order to run a food truck, I would also need to get a vehicle license. Depending on the weight and length of the vehicle, I would also need to obtain a Commercial Driver's License (CDL).

The state requires the acquisition of a food handlers' card, a certification that confirms your knowledge of the established food safety protocols throughout the handling of food and beverages. This card will be issued upon the completion of a test and the payment of a fee ranging from seven to ten dollars. Furthermore, it is necessary to get a health certificate, which certifies the hygiene and safety of your food truck business, with expenses ranging from $500 to $1000. Depending on your chosen space location, a parking permit may be necessary, since several towns have zoning laws that restrict food trucks to certain zones. The car may be covered by three forms of insurance: a general insurance policy, a professional liability insurance policy, and a workers' compensation insurance policy (Yosef, 2022). These insurance policies may be purchased individually or in combination. Entities employing one or more individuals qualify for workers' compensation insurance, which provides coverage for employees in instances of illness, accident, or death resulting from their employment. Businesses employing one or more individuals must get workers' compensation insurance; general liability insurance protects the corporation from litigation; professional liability insurance covers malpractice and other business deficiencies; and general liability insurance safeguards the enterprise against financial losses.

I will describe the most effective strategy for addressing the challenges overcome by competition at my food truck, which would provide the market a number of benefits, including accessibility and cost, amongst others. The food truck would be situated just outside the university hospital in Newark, New Jersey, but after it is established, I want to launch a franchise of food trucks that are mostly accessible outside of other hospital sites (Yosef, 2022). Serving the vast majority of hospital staff in addition to visitors, pedestrians, and people of the community is what makes it so special. My food truck would be the only one there at the moment since the two food trucks I previously stated are not even close to the location I like to use. Hospital staff who present a credential while making meal purchases would be eligible for discounts and cheap pricing in addition to the food being easily accessible. A variety of cuisines, including American and Caribbean dishes, would be available for consumers to purchase for breakfast and lunch. A range of breakfast foods, such as bagels, croissants, and breakfast sandwiches, as well as beverages like coffee, tea, and juices, make up American morning cuisine (Koay, Cheah, 2023). Baked and fried bread, cod fish sides, sardines, seasoned potatoes, fried ochro, and many more dishes are examples of Caribbean cuisine. From healthy rice dishes with grilled chicken, fish, and shrimp to fried fish, wings, and shrimp served with fries, the lunch menu would provide a variety of options.

References:

Amaltea Fatimah Firdausi. (2026). Implementation of Lean and Capacity Planning to Improve Food Truck Operational Efficiency as a Business Expansion Preparation Strategy. International Journal of Digital Marketing Science, 3(1), 14–20. https://doi.org/10.54099/ijdms.v3i1.1512

Koay, K. Y., Cheah, C. W., (2023). The rise of the food truck phenomenon: an integrated model of consumers' intentions to visit food trucks. British Food Journal, 125(9), 3288-3303.

Yosef, T. H. (2022). Business Plan for Loukoumades Food Truck. Theseus.fi. https://www.theseus.fi/handle/10024/755075