MGMT601 Business Concept SummaryBusiness Concept Summary: L, Lecture notes of Accounting

Download MGMT601 Business Concept SummaryBusiness Concept Summary: L and more Lecture notes Accounting in PDF only on Docsity! Business Concept Summary: Lenz Yum Food Truck DeVry University MGMT601 MBA Capstone -- Simulation Edition Lenz Yum Food Truck According to survey, there are more than 22,000 food trucks in the U.S. the food truck culture has become very popular in recent years. Food carts have existed since millennia and trucks have improved and become literal mobile kitchens. The industry has grown over the past five years and is among the best performing sectors in the wider food service industry. Its remarkable expansion is majorly associated with changing consumer preferences favoring exceptional, gourmet diets at cheaper prices than a sit-down restaurant (Guinn, 2024). Cities such as Portland, Austin, and Los Angeles have sought to diversify themselves by crafting regulations and establishing places specially made for mobile food trucks. Such patterns have been a boon for the food truck sector, as customers want to maximize their disposable income by engaging in small conveniences such as cheaper gourmet food. Lenz Yum Food Truck aims to create a casual, humorous food truck selling classic ballpark-style Italian-American staples. The food truck will provide fan favorites including sausage and pepper sub sandwiches, freshly-filled cannolis, steak and cheese sandwiches, homemade spinach pies, hotdogs, carnival pizzas, and meatball subs. It will also sell drinks including fountain sodas and cold brew iced coffee. Lez Yum Food Truck will have an affordable price, quick service, and an easy-to-track food truck featured at some of Tampa, Florida (Mitson, 2024). Tampa is the biggest port in Florida, located at the west coast of the state. It economy is based on a differentiated base which encompasses tourism,