Module 6: Target Margins

Monitoring your margins is an essential skill for ongoing food truck success.  Out of control food and labor costs are the most common reason food trucks fail and for this reason you must pay attention to your financials on a regular basis.  Think of your profit and loss statement (P&L) as a map to profitability.  When things are off you can discover exactly where problems lie and proactively make changes to set yourself on a correct course.  If you currently do not know how to read a P&L or count inventory, rest assured that’s completely normal for a new operator and you are in the right place!  By the time you complete this unit you will have a thorough understanding of how to analyze all your costs –both formally and informally– and have a great grasp on the numbers to which you need to pay closest attention.