GET A PIECE OF BEST FOOD TRUCKS
Connecting you to the street’s best eats
Best Food Trucks is a data analytics company that utilizes SaaS technology to empower mobile food entrepreneurs, currently serving 2,400+ vendors and 200K+ happy customers with our online and mobile apps, with an annual revenue of 10+M in sales.
$219,080.96 Raised
REASONS TO INVEST
Renowned companies such as Amazon, Apple, Boeing, Cushman & Wakefield, Pfizer and many more have utilized BFT for their onsite catering and mobile vending needs, speaking volumes about our quality services.
With $10.1M in sales for 2022, (a 46.3% increase from 2021), we believe Best Food Trucks is positioned to capture a significant share of the $10.6B catering market and the $2.8B mobile vending market.
CEO & Co-Founder Matt Geller (also the President & Founder of the National Food Truck Association) utilized his expertise to establish Best Food Trucks, growing the company with 2,500+ locations, 2,400+ vendors, and 200,000+ customers.
the pitch
Access The Best Food Trucks, Anytime, Anywhere
Best Food Trucks (BFT), delivers exclusive culinary adventures right to your fingertips! Our consumer app seamlessly connects users to the finest food trucks and food carts across the US, while our vendor app allows mobile vending entrepreneurs to effortlessly showcase their menus, bid on catering events, and process contactless mobile orders. In addition, we are revolutionizing corporate catering by offering made-to-order meals that not only curb waste, but also provide employees with fresh, personalized dining options. With an increase in sales in 2022, a presence in 2,500+ locations, collaboration with 2,400+ vendors, and a satisfied customer base exceeding 200K, we're ready to continue growing and expanding our virtual marketplace.
Originating in Los Angeles and later expanding nationwide, Matt spearheaded efforts to challenge and transform local city councils to effect positive changes in zoning and permitting regulations, providing mobile vendors with a safe and legal means of operation. Soon after, Matt founded the National Food Truck Association to formalize his advocacy for mobile vendors nationwide, and quickly became a recognized and respected figure across the industry.
BFT emerged as a result of Matt and his Co-Founders, Jared Kapela and Patrick Lennon, recognizing the vast business opportunities generated through their advocacy efforts and desire to support small business owners. Today, BFT's core purpose is to streamline the marketing, sales, and operations of individual food trucks, scaling this expertise on their industry-leading platform to benefit the entire mobile vending industry. As a result, when BFT succeeds, all of their operating partners thrive.
THE problem & our solution
BFT is Battling the Mobile Food Dilemma, One Truck at a Time
Best Food Trucks connects food trucks with their hungry customers; benefiting vendors and consumers alike. In today's fast-paced world, finding the perfect food truck can be challenging. That’s why BFT's virtual marketplace offers a user-friendly web and mobile interface, where customers can easily locate the food trucks they desire for any event— be it catering, online ordering, events, or experiential marketing. BFT facilitates direct engagement between customers and food trucks, allowing for seamless financial transactions, inquiries, ratings, and more exciting features to come.
But what distinguishes BFT from the competition? Their cutting-edge technology and comprehensive data resources creates a cost-effective sales process that drives higher margins for food truck operators, while providing valuable industry insights that help operators enhance their efficiency. BFT also has the largest network of food trucks that are continually vetted through both food and service ratings— extending their nationwide reach and ensuring that they always have a dedicated customer service representative monitoring every shift.
THE market & our traction
A $14B Market Ready For Innovation*
*Source, Source
The mobile vending industry stands at the vanguard of culinary innovation, surpassing traditional brick-and-mortar restaurants in delivering exciting and trendsetting culinary experiences. Where catering represents a $10.6B market and mobile vending an additional $2.8B market, BFT aims to address the growing market demand for mobile vendors as consumers increasingly choose food trucks as their go-to option for meals. Their platform brings meals directly to where people live, work, and play, redefining the dining experience while making it more convenient and accessible. (Source | Source)
BFT's data-driven approach enables location-based marketing, empowering food trucks to scale. With a bespoke POS system, operators can efficiently manage their financial transactions, enhancing both operational efficiency and customer experience. BFT has democratized the food industry, enabling aspiring entrepreneurs to enter with an investment as low as $50,000 - $75,000, thereby opening pathways for small business ownership. Their dedication to growth is evident as they seize the trend of employers subsidizing employee meals, connecting employers with gourmet mobile vendors to offer diverse and high-quality dining experiences that enhance the workplace environment. Notably, the team's contactless ordering technology proved resilient during the pandemic, contributing to industry survival in 2020 and 2022, solidifying BFT's reputation as an adaptable industry leader.
why invest
Experience The Taste Of Fresh, Gourmet Food
Guided by CEO Matt Geller's unwavering commitment to small business entrepreneurs, coupled with his esteemed position as the Founder and President of the National Food Truck Association, we believe BFT is well-positioned for strong growth and a healthy return on your investment. In addition to an ambitious and experienced team, BFT has been recognized as 1 of 10 out of a thousand selected for Techstars, named one of the 50 hottest start-ups in LA by dot.LA, and has partnered with notable companies like Amazon, Apple, and Pfizer. BFT's revenue growth of 43% from 2021-2022, $10M in annual sales in 2022, over 2,500 vendors and 200k+ delighted customers positions us to monetize on a $13.6B catering and mobile vending markets. Join us in investing in BFT and embark on a delectable journey that transcends borders!
Invest today and relish the taste of success!
ABOUT
HEADQUARTERS
3409 FAY AVE
CULVER CITY, CA 90232-7435
WEBSITE
View Site
Best Food Trucks is a data analytics company that utilizes SaaS technology to empower mobile food entrepreneurs, currently serving 2,400+ vendors and 200K+ happy customers with our online and mobile apps, with an annual revenue of 10+M in sales.
TEAM
Matthew Geller
Chief Executive Officer, Co-Founder, President and Board Member
Jared Kapela
Chief Financial Officer, Co-Founder, Secretary and Board Member
Patrick Lennon
Chief Operating Officer, Co-Founder, Board Member
TERMS
Best Food Trucks
Overview
PRICE PER SHARE
$3.21
DEADLINE
Dec. 14, 2023 at 7:59 AM UTC
VALUATION
$40.13M
FUNDING GOAL
$15k - $618k
Breakdown
MIN INVESTMENT
$446.19
MAX INVESTMENT
$617,998.83
MIN NUMBER OF SHARES OFFERED
4,672
MAX NUMBER OF SHARES OFFERED
192,523
OFFERING TYPE
Equity
SHARES OFFERED
Class B Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.
Loyalty
Active mobile vendors on BFT’s platform will receive 5% bonus shares + 1 month of no additional Stripe transaction fees
Time-Based Perks
Early Bronze - Invest $500+ (minimum investment) within the first two weeks and receive 5% bonus shares
Early Silver - Invest $1,000+ within the first two weeks and receive 7% bonus shares
Early Gold - Invest $2,500+ within the first two weeks and receive 10% bonus shares
Early Diamond - Invest $5,000+ within the first two weeks and receive 12% bonus shares
Early Platinum - Invest $10,000+ within the first two weeks and receive 15% bonus shares
Volume-Based Perks
Bronze - Invest $2500+ and receive invitation to Private Investor Group
Silver - Invest $5,000+ and receive a 1:1 zoom meeting with BFT’s CFO (Jared) + 3% bonus shares
Gold - Invest $10,000+ and receive a 1:1 zoom meeting with BFT’s CEO (Matt) + 5% bonus shares
Diamond - Invest $25,000+ and receive a 1:1 zoom meeting with BFT’s CFO (Jared) and CEO (Matt) + 10% bonus shares
Platinum - Invest $50,000+ and receive face to face meeting / dinner with BFT’s CFO and CEO + 15% bonus shares
The 10% StartEngine Owners' Bonus
Best Food Trucks, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class B Common Stock at $3.21 / share, you will receive 110 shares of Class B Common Stock, meaning you'll own 110 shares for $321. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.
**Crowdfunding investments made through a self-directed IRA cannot receive non-bonus share perks due to tax laws. The Internal Revenue Service (IRS) prohibits self-dealing transactions in which the investor receives an immediate, personal financial gain on investments owned by their retirement account. As a result, an investor must refuse those non-bonus share perks because they would be receiving a benefit from their IRA account.
**Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus in addition to the aforementioned bonus.
Irregular Use of Proceeds
The Company will not incur any irregular use of proceeds.
PRESS
ALL UPDATES
REWARDS
10%
Stack Owner's Bonus & Rewards!
Members get an extra 10% shares in addition to rewards below!
Owner’s Bonus
Owner’s Bonus Members earn 10% bonus shares on top of this and all eligible investments for an entire year. Not a member? Sign up at checkout ($275/year).
$2,500
Bronze
Invest $2500+ and receive invitation to Private Investor Group
$5,000
Silver
Invest $5,000+ and receive a 1:1 zoom meeting with BFT’s CFO (Jared) + 3% bonus shares
$10,000
Gold
Invest $10,000+ and receive a 1:1 zoom meeting with BFT’s CEO (Matt) + 5% bonus shares
$25,000
Diamond
Invest $25,000+ and receive a 1:1 zoom meeting with BFT’s CFO (Jared) and CEO (Matt) + 10% bonus shares
$50,000
Platinum
Invest $50,000+ and receive face to face meeting / dinner with BFT’s CFO and CEO + 15% bonus shares
JOIN THE DISCUSSION
0/2500
Colin Hoare
2 months ago
Sounds like you have a strong background and team to operate in this industry. Can you help me with the following questions I have, please: 1: Why is your revenue & sales $10,083,996 but your Net Income is -$157,669; are your operating costs greater than $10M? 2: Are you including the costs of goods sold ($8,932,081) in the revenue & sales no and is the Are Costs of Goods Sold ($8,932,081) number sales made by trucks through your POS? 3.1: How much of your total sales does this stream account for “Fees paid by vendors for utilizing our managed lots”? 2.3: With regards to these managed lots, what are the costs associated with them (ie lease, insurance, utilities etc) 4: How much of your total sales does this stream account for “Substantial management fees from major corporations for facilitating regular truck visits to their locations”? 5.1: How much of your total sales does this stream account for “Customer convenience fees integrated into each online transaction, and a percentage of sales generated through our catering and experiential marketing divisions”? 5.2: How many customer online transactions were made through the BFT app/website in the last year 6.1: How are you planning to make revenue from your POS and what are your forecasts for this revenue stream specifically? 6.2: Will you be providing a tablet/device to food trucks or will they take payment through an app on their phones? 7: “200K+ happy customers with our online and mobile apps” - why are your app reviews so low? According to iOS there are only 13 people. Your android app also only has 1 to 2000 lifetime downloads?
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David Amin
2 months ago
Loosing money yet wanting $40M good luck to the investors......Way lofty valuation. Ask would shark tank invest..? Why are you ?
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chad demoss
2 months ago
1. Is your revenue a percentage of the sales through the app, subscriptions for the service or both? 3. how are you marketing your app?
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Theodore McKendall
2 months ago
I think the concept seems great, and the team is knowledgeable. Congrats on the success you have had so far. I tried out the website, but several cities (Chicago, San Fran, Philly) came up empty. I tried the consumer mobile app but Google said it won't run on Android 13 (over a year since release). Questions: Is your focus more on the vendor software? If so, with the POS update do you expect to compete with Toast, Clover, etc? Or do you plan to partner?
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David Amin
2 months ago
1) What stops a competing app ? 2) $40M valuation based on what cash flow ?
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Kevin Hardman
2 months ago
Maybe I don't fully understand your business model, but why is your COGS so high and what are you doing to bring that number down?
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