The magazine for alumni and friends of the UB School of Management
Issue link: http://ubschoolofmanagement.uberflip.com/i/359417
B B Autumn 2014 "Food trucks require a relatively small investment, making them an excellent model for building entrepre- neurship," says Jain. "Young chefs with creative ideas can enter the market, test what they've learned and compete." For Dana Szczepaniak, BS/MBA '11, her grand- mother's recipes served as the inspiration for Betty Crockski, Buffalo's first Polish food truck, which she opened with her cousin Kate Hey this year. Hey did extensive research into Polish customs and cuisine, and the pair reinvented the recipes to develop a menu that includes four types of pierogi, handmade kielbasa and daily specials. "We've both worked in the restaurant industry, and it's very difficult to open a brick-and-mortar restaurant. You're limited to one fixed location, so it doesn't allow as much flexibility," says Szczepaniak, a CPA who left a career in public accounting for this venture. "With a truck, you can go where the people are. I like that strate- gic aspect of the business." Changing consumer preferences also paved the way for food trucks, which can adapt their menus to meet demand more easily than sit-down establishments. Over the past decade, with the rise of the local food and farm- to-table movements, consumers have become more health-conscious, so many trucks have debuted organic, vegan and gluten-free options. In addition, pop culture and the increased rate of international travel have intro- duced many consumers to an array of ethnic cuisines. "The growing popularity of food shows on televi- sion has made people look at food as an experience—not just a meal," says Tom Ulbrich, executive director of the School of Management's Center for Entrepreneurial Leadership. "With food trucks, you can interact with the owner and chef. It's more personal." Mobile food vendors offer customers that unique experience and the opportunity to try a variety of cuisines at an affordable price. According to research firm Datassential, the average food truck entrée costs just $6.33. Convenience is key too, as trucks can serve office parks, construction sites and beaches with precious few options for food. "Food trucks create a fun atmosphere, make city liv- ing much more interesting and expose people to differ- ent foods," Jain says. "You can get one item from each truck, and the risk is relatively small. If I don't like it, I've lost a few dollars, whereas if I go to a restaurant and don't like it, I wasted $30 and my entire night." Challenges and competition Like any new venture, launching and running a food truck has its speed bumps. "We have struggled with blown engines and trans- missions, kitchen fires, leaking propane tanks and frozen F L E X I B I L I T Y "It'sverydifficult toopenabrick-and- mortarrestaurant. You'relimitedtoone fixedlocation,soit doesn'tallowas muchflexibility.Witha truck,youcangowherethe peopleare.Ilikethatstrate- gicaspectofthebusiness." — Dana Szczepaniak, BS/MBA '11 Co-owner of Betty Crockski, Buffalo's first Polish food truck