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My experience making money with a food cart!

gegepanalo · 90 · 44478

GoodSteward

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Reply #15 on: Jun 02, 2012, 11:29 AM
To break even we need to sell at least 4 rice meals, or 3 rice meals and 2 drinks.

You mean break even for daily operational cost which include personel payroll, rentals, utilities etc.? parang too easy ata? Ü

Congrats and best of everything to your new venture. Ü


moncorp

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Reply #16 on: Jun 02, 2012, 11:45 AM
Nakakatuwa naman ang kwento ng foodcart operation :-)
Blog it!.. ill subscribe lolz


krissy

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Reply #17 on: Jun 02, 2012, 07:11 PM
wow! congrats..
been wanting to start a food cart business too
but skeptical over finding right employees
hahaha

all the best


nepenthe

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Reply #18 on: Jun 03, 2012, 02:49 PM
wow exciting naman good luck on your business. :cool2:


any updates pala hihihihi!


Variation

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Reply #19 on: Jun 03, 2012, 03:07 PM
i don't think so na mag break even ka don sa computation mo na un di bale nlang kung ginto ang benta mo ng pagkain mo...hehehe, please shed some computation here.


moto461

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Reply #20 on: Jun 03, 2012, 03:35 PM
To break even we need to sell at least 4 rice meals, or 3 rice meals and 2 drinks.

tama nga sila.. mukang short ang calculation mo sa break even..  cgurado ka ba djan?   :scratch:


gegepanalo

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Reply #21 on: Jun 04, 2012, 12:24 AM
tama nga sila.. mukang short ang calculation mo sa break even..  cgurado ka ba djan?   :scratch:

Guys sorry, that should say "we need to sell 3-4 rice meals an hour, for 24 hours. So 72 to 96 rice meals a day to breakeven. Is that better? :p

Sadly today was slow, we sold 30 rice meals, a lot of drinks and some french fries. We didn't breakeven, we covered staff costs but not rental so hopefully it improves tomorrow because otherwise we will bleed. I'll upload some pictures but I'm so tired, maybe tomorrow night.

Thanks everyone!


krissy

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Reply #22 on: Jun 04, 2012, 08:21 AM
me im planning to put up a milk tea cart..
kaso my busy mind has a lot of things to think about right now..
haha!

recently got engaged with my bf.. (i met my bf at a stock forum kaya "foruming" means a lot to me hahahaha).. got some work issues to settle.. and a lot of investments i keep postponing because of my personal issues.. grrr..

anyhoo.. good luck to those starting up businesses like this.. good to know there are people sharing their real experiences here at the forum..

keep it coming


GoodSteward

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Reply #23 on: Jun 04, 2012, 08:36 AM
Guys sorry, that should say "we need to sell 3-4 rice meals an hour, for 24 hours. So 72 to 96 rice meals a day to breakeven. Is that better? :p


Not trying to nitpick, but just ant to confirm that your food cart really operates like 7-11, 24hours a day?

Hope you have better sales on days to come....Give some promo and discount coupons perhaps to attract new customers initially..


gegepanalo

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Reply #24 on: Jun 04, 2012, 01:48 PM
Big Update.

I'd like to help people who are starting up a business and have never done it before. Here is the horror story as it is unfolding at the moment.

Our cart costs 42k to make, and we bought 8k worth of inventory. Our rentals are 27k a month, and since they require you to pay your rentals 2 months in advance, meaning you're locked in for the next 2 months, we already have 52k with them. Plus a bond/deposit of 1 month, so thats another 27k. So that means so far we've spent 131k. But we also bought cleaning supplies, and other requirements for the stall, plus throw in the other costs that we've incurred when setting up and training the staff and you're close to 150k.

Alright here is the problem. The sales yesterday was 2000 pesos. Everyday we have to sell 4000 to breakeven. Today we're at 600 pesos already and we've passed the busiest period, lunch time. We're considering renegotiating our rentals but it is unlikely cause they have our 2 months advance. We're considering firing one of our 4 staffs, and then not operating at night because last night we sold 300 pesos worth, and we pay her 200 pesos for 8 hours, so with our margins not 100% obviously we didnt sell enough to cover her.

The leasing officer, plus the landlord are nice enough to drop by several times a day to offer tips on how to improve sales, they even asked one of the tenants to stop selling one of our rice meals so there are no duplicates. We are putting up a big tarpauline as well in front to get more attention.

HOWEVER. the biggest problem is each day we operate we seem to bleed another 900-1500k. If we continue more, we can potentially end up losing a huge amount of money. This is only our second day of operations but I don't think we can get our 2 months advance back, and say goodbye.

Our biggest mistake was we should've spent 2-3 full days on the location to just observe the traffic, but with both of us working full time jobs, we couldn't. Also we thought we could sell like the Shomai/Shopao stall beside us, who make 10k a day (they have customers every other minute because at P25 for 5 shomais, they are cheap). Plus they dont have too many skus so they don't have inventory issues.

BIGGEST LESSONS LEARNT: Keep costs as low as you can (like Sagad said), do your homework on location very well, decrease your skus to avoid inventory problems (for example, just for our drink, we have to have ICE (who delivers, when etc), red ice tea powder, distilled water, and cups. All these are from different suppliers, which means they are a nightmare to operate.

We are considering offering more products but this requires more money, or just surrendering our deposit, getting our bond back, and selling the food cart online to recover as much as we can back.

Post Merge: Jun 04, 2012, 01:49 PM
Not trying to nitpick, but just ant to confirm that your food cart really operates like 7-11, 24hours a day?

Hope you have better sales on days to come....Give some promo and discount coupons perhaps to attract new customers initially..

Thanks for the tip, I guess we can include a big sign that says, introductory promo, free drink for every meal. I'll bring that up with my partner. and yes, 24/7 yung operation.
« Last Edit: Jun 04, 2012, 01:50 PM by gegepanalo »


GoodSteward

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Reply #25 on: Jun 04, 2012, 02:15 PM
That doesnt sound good... 2nd day palang, keep some optimism...
Another gimmick, free 5th meal, may stamping something like that..kung talagang you plan to close it na, one last weapon...compute the cost, and then RICE ALL YOU CAN!!! Daanin sa volume.... Can make it more special, GARLIC RICE ALL YOU CAN....
.


gegepanalo

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Reply #26 on: Jun 04, 2012, 02:18 PM
That doesnt sound good... 2nd day palang, keep some optimism...
Another gimmick, free 5th meal, may stamping something like that..kung talagang you plan to close it na, one last weapon...compute the cost, and then RICE ALL YOU CAN!!! Daanin sa volume.... Can make it more special, GARLIC RICE ALL YOU CAN....
.

Well I told my partner we should give it a week, even if we lose more, and lets try our best to breakeven at least.

Great advice btw, I will discuss these ideas when I meet with my partner tonight.  I think that free 5th meal might be something we can do. Perhaps we can even sell to call centers around the area. Thanks for the tip.


SAGAD

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Reply #27 on: Jun 04, 2012, 04:06 PM
hope we can salvage/save ur cart man...

for real? u did not spend time observing the location? big mistake like u said...

anyway, no use crying over spilled milk right?...napasubo na kau hehe...

some ideas...take it however u want...

seems like the traffic there are going for the price (u said siomai is selling bec of it's price right?), if so, reconsider ur meals

some  suggestions:

TINAPA RICE.....shreded tinapa bits (tuyo or whatever fried fish u want or have access to) mixed w/ the fried rice (w/c can be the leftover rice from ur silog meals), put some small amount of scrambled eggs, bits of tomatoes...optional and ur choice...

RICE BURGER...pressed rice w/ a slice of egg and ham or meat loaf  shaped and packed like mcdo's hash brown

i'm taking into consideration here the fact that u have bought certain types of equipments/ supplies...if ur willing to fork out more cash, consider changing your cart proposal altogether...

i don't know how u did ur signage...but it should be huge, loud and attention-grabbing...

try, "Cooking ng Ina Mo" :hihi:

seriously, i wish u all the best...while it's too soon to give up, go slow on the changes/modifications u make...u would want to be able to identify what will cause the turnaround...fingers crossed...

 


gegepanalo

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Reply #28 on: Jun 04, 2012, 06:10 PM
hope we can salvage/save ur cart man...

for real? u did not spend time observing the location? big mistake like u said...

anyway, no use crying over spilled milk right?...napasubo na kau hehe...

some ideas...take it however u want...

seems like the traffic there are going for the price (u said siomai is selling bec of it's price right?), if so, reconsider ur meals

some  suggestions:

TINAPA RICE.....shreded tinapa bits (tuyo or whatever fried fish u want or have access to) mixed w/ the fried rice (w/c can be the leftover rice from ur silog meals), put some small amount of scrambled eggs, bits of tomatoes...optional and ur choice...

RICE BURGER...pressed rice w/ a slice of egg and ham or meat loaf  shaped and packed like mcdo's hash brown

i'm taking into consideration here the fact that u have bought certain types of equipments/ supplies...if ur willing to fork out more cash, consider changing your cart proposal altogether...

i don't know how u did ur signage...but it should be huge, loud and attention-grabbing...

try, "Cooking ng Ina Mo" :hihi:

seriously, i wish u all the best...while it's too soon to give up, go slow on the changes/modifications u make...u would want to be able to identify what will cause the turnaround...fingers crossed...

 

Wow incredible advice! I'll be bringing this up with my partner tonight. Our signage isn't that good. Here is the picture guys. I am loving the support and tips from everyone, that's why I want to help everyone back by sharing our story/struggles.

UPDATE: We started to sell cigarettes right now, so in 15mins we sold 15 sticks, earning 1.5pesos profit a stick. I think thats a strong statistic. We also started cooking our french fries in batches to have some on display, thereby increasing serving time and also improving the attractiveness of our stall. Another thing we're doing is we are putting up a big tarpauline in the walkpath that displays our products, we got approval! so it's almost up, just got to buy the double adhesive. I will take pictures for everyone! You're right I should be blogging this hahaha



Uploaded with ImageShack.us

Post Merge: Jun 04, 2012, 06:19 PM
Note on the picture, that is not where it is located, we shifted it a few meters down to a more well lit and highly traffic area. Do you think maybe cause our faces look like they have the texture of sand paper that may be the reason why customers aren't coming? haha
« Last Edit: Jun 04, 2012, 06:19 PM by gegepanalo »


humberjet

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Reply #29 on: Jun 04, 2012, 08:06 PM
grabe naka 150k na agad ang gastos nyo sa pag tayo pa lang ng business..

hayy... dapat pala atleast meron kang 300k for 2months


 


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