Developing Your Competitive Strategy

In order to develop a competitive strategy for your catering truck, you must first create a competitive analysis. Your analysis should be based on a list of local competitors that you put together. By evaluating your local market and how you can refine your strategic business decisions, you will be better able to identify your direct and indirect competitors that pose a threat to your food trailer business.

It will also assist you in determining the major trends in the marketplace, which will give you the advantage of being able to spot opportunities for differentiating your products.  

To prepare a competitive analysis, you must first name the companies that your food truck is in competition with. Choose two or three direct competitors in this step. Explain what each of your competitors is – is it a food trailer, truck or restaurant? Where do your competitors operate and how well do …