First Step: Market Research

        Market research involves finding out the “who, what, where, why and when” of your business, and while it’s not the most exciting part of your endeavour, it’s certainly an essential one.

        It can be risky and even silly to assume that you already know the answers to these questions and then get caught out later on.

Here’s what you need to address at this stage:

Operational

Where will you set up your food cart business?

When will you open to ensure the best business?

How will the weather affect your trade?

Target Market

Who are your customers? What is their demographic?

Competition

Is there any competition? What do they offer?

Locations & Business Opportunities

Finding a couple of great locations will play a major factor in your success and it depends on several key factors:

Where you’re allowed to park by law

Where the customers are

The prime hours for each location

Competition

Some great places and opportunities to consider for trading are:

Office parks

The business district

Empty lots

Shopping districts or malls

Popular tourist locations

Sports venues

Parks and beaches

Bus and train stations

College campuses

Festivals and events

Conferences and conventions

Private events (weddings, birthdays, etc)

Corporate events

        Most of these locations will require permits and/or owner agreements, so make sure to check with your local authorities & institutions beforehand.

        When it comes to festivals, events, conferences and conventions the best thing to do is to get in touch with organizers and lease your space well in advance