Executive Summary
Fuego Kitchen is a Mexican-Korean fusion food truck launching in Portland, Oregon. Founded by Maria Santos — a culinary school graduate with 8 years of restaurant experience including 3 years as sous chef at a Korean-Mexican concept in Los Angeles — the truck will serve bold, craveable fusion dishes like gochujang carnitas tacos, kimchi quesadillas, and Korean BBQ burritos.
Portland's food truck scene generates an estimated $150M+ in annual revenue across 500+ active carts and trucks. The city's culture of adventurous eating, dense pod infrastructure, and relatively low startup barriers make it one of the best food truck markets in the country. Despite this, there is no dedicated Mexican-Korean fusion truck currently operating in Portland.
Funding request: $87,000 SBA microloan to cover truck acquisition, build-out, permits, initial inventory, and 3-month operating reserve. Projected break-even: month 5 of operations. Projected Year 1 revenue: $285,000 with a net margin of 12-15%.
Business Description & Concept
The Concept
Fuego Kitchen bridges two of Portland's most beloved cuisines — Mexican and Korean — into a cohesive, craveable street food experience. The menu is built around familiar formats (tacos, burritos, bowls, quesadillas) with Korean-inspired proteins, sauces, and pickled vegetables. Every item is designed to be photogenic, portable, and priced under $15.
Mission
To bring bold, joyful fusion food to Portland's streets — honoring both culinary traditions while creating something entirely new.
Legal Structure
Oregon LLC (single-member). EIN obtained. Food handler's permit and Multnomah County mobile food unit license applications in progress.
Founder Background
- Maria Santos — B.A. Culinary Arts, Portland Community College. 8 years in restaurant kitchens including Kogi-style Mexican-Korean concept in LA. ServSafe Manager Certified.
- 3 years of food truck industry research including 6-month mentorship with owner of Viking Soul Food (Portland food cart veteran).
- $23,000 in personal savings committed to the venture.
Market Analysis
Portland Food Truck Industry Overview
Portland has one of the most mature food truck ecosystems in North America. Key market characteristics:
- 500+ active food carts/trucks operating across the metro area
- 60+ established food cart pods including Hawthorne Asylum, Cartlandia, and the Alder Street pod downtown
- Year-round operation is standard — Portland diners eat at food trucks even in rain
- Average food truck revenue in Portland: $250,000-$350,000/year for established operators
- The city's "food cart culture" is a major tourism driver — featured in national media annually
Competitive Landscape
| Competitor | Cuisine | Location | Avg. Price | Overlap |
|---|---|---|---|---|
| Koi Fusion | Korean-Mexican | Brick & mortar (ex-truck) | $12-16 | Direct concept overlap, but transitioned to restaurants |
| Güero | Mexican street food | SE Portland pod | $10-14 | Mexican cuisine, different concept |
| Kim Jong Grillin' | Korean BBQ | Various events | $12-15 | Korean protein overlap |
| Namu | Korean comfort food | NE Portland | $11-14 | Korean cuisine, no fusion angle |
| Matt's BBQ | Texas-style BBQ | Multiple pods | $13-18 | Protein-forward street food, premium pricing |
Key insight: Koi Fusion proved the Mexican-Korean concept works in Portland — they grew from a single food truck to multiple brick-and-mortar locations. Their move out of the food truck space leaves a proven gap with validated demand and zero direct competition.
Target Demographics
- Primary (60%): Urban professionals ages 25-40 in inner SE/NE Portland. Adventurous eaters, food-forward, active on Instagram. Average lunch spend: $12-16.
- Secondary (25%): Late-night crowd (bars, events). Ages 21-35. High willingness to spend on street food after 10 PM.
- Tertiary (15%): Weekend market/festival attendees and tourists. Higher average ticket due to group ordering.
Menu & Pricing Strategy
Core Menu
| Item | Description | Price | Food Cost |
|---|---|---|---|
| Gochujang Carnitas Tacos (3) | Slow-braised pork, gochujang glaze, kimchi slaw, cilantro-lime crema, corn tortillas | $13 | 28% |
| Korean BBQ Burrito | Bulgogi beef, cilantro rice, black beans, pickled daikon, sriracha aioli, flour tortilla | $14 | 30% |
| Kimchi Quesadilla | Oaxaca cheese, house kimchi, pulled chicken, sesame-scallion drizzle | $11 | 26% |
| Bibimbap Bowl | Rice, choice of protein, pickled vegetables, fried egg, gochujang sauce, sesame | $14 | 29% |
| Fuego Fries | Loaded fries with bulgogi, cheese sauce, kimchi, scallions, sriracha mayo | $10 | 25% |
| Elote-Style Corn (seasonal) | Grilled corn, gochujang mayo, cotija, furikake, lime | $6 | 22% |
Drinks & Sides
| Item | Price |
|---|---|
| Horchata (house-made) | $5 |
| Korean Iced Tea | $4 |
| Jarritos / bottled water | $3 |
| Extra kimchi / pickled veg side | $3 |
Pricing philosophy: Target an average ticket of $14-16 per customer (entrée + drink/side). All entrées priced under $15 to stay accessible for daily lunch visits. Blended food cost target: 28% or below.
Marketing Plan
Pre-Launch (Months -2 to 0)
- Instagram buildup: Behind-the-scenes content of truck build-out, recipe development, taste tests. Target: 1,500 followers before launch day.
- Soft launch events: 3-4 pop-ups at local breweries (Ex Novo, Breakside) to generate word-of-mouth and refine operations.
- Food blogger outreach: Invite Portland food bloggers (Portland Eater, PDX Pipeline, Food Carts Portland) for free tastings.
- Email list: Collect emails at pop-ups. Goal: 300 subscribers before day one.
Ongoing Marketing
- Instagram (primary channel): 4-5 posts/week. High-quality food photography, daily location posts, customer features, behind-the-scenes. Budget: $200/month for promoted posts.
- Google Business Profile: Critical for "food trucks near me" searches. Updated daily with location, hours, and photos.
- Event & catering marketing: Dedicated landing page, direct outreach to Portland event planners and corporate offices. Target: 2-3 catering gigs/month by month 6.
- Loyalty program: Digital punch card (Square Loyalty). Every 8th entrée free. Expected 25% enrollment rate.
- Partnerships: Cross-promotion with breweries where we park. Their social channels + ours = wider reach at zero cost.
Marketing Budget: $500/month
| Channel | Monthly Spend |
|---|---|
| Instagram promoted posts | $200 |
| Printed materials (menus, stickers, cards) | $100 |
| Event entry fees / market booth fees | $150 |
| Email marketing (Mailchimp) | $50 |
Operations Plan
The Truck
18-foot step van with full commercial kitchen build-out including flat-top griddle, 2-burner range, deep fryer, commercial refrigeration, 3-compartment sink, and generator. Sourcing a used truck with existing build-out from Northwest Mobile Kitchens (estimated $45,000-$55,000) to reduce upfront cost vs. custom build ($80,000+).
Permits & Licensing
| Permit/License | Issuing Agency | Cost | Timeline |
|---|---|---|---|
| Mobile Food Unit License | Multnomah County Health Dept. | $477/year | 4-6 weeks |
| City of Portland Business License | City of Portland Revenue | $100/year | 1-2 weeks |
| Oregon Food Handler's Card | Oregon Health Authority | $10/person | Same day |
| Fire Safety Inspection | Portland Fire & Rescue | $150 | 2-3 weeks |
| Commissary Agreement | Licensed commissary kitchen | $400-600/mo | Ongoing |
| Vehicle Registration & Insurance | Oregon DMV / Insurance provider | ~$3,000/year | 1 week |
Location Strategy
Portland food trucks thrive in pod locations and brewery partnerships. The strategy is a rotating weekly schedule across high-traffic spots:
| Day | Location | Hours | Rationale |
|---|---|---|---|
| Mon | Commissary / Prep Day | — | Batch prep, restocking, admin |
| Tue | Cartlandia (SE 82nd) | 11am-8pm | Portland's largest pod, steady foot traffic |
| Wed | Downtown / PSU area | 11am-3pm | Weekday lunch rush, office workers |
| Thu | Ex Novo Brewing (N Williams) | 4pm-9pm | Evening brewery crowd, high avg. ticket |
| Fri | Hawthorne Asylum pod | 11am-9pm | High foot traffic, weekend energy |
| Sat | Portland Saturday Market / Events | 10am-5pm | Tourist + local traffic, festival revenue |
| Sun | Breakside Brewing (NE Dekum) | 12pm-7pm | Relaxed weekend crowd, family-friendly area |
Staffing
- Months 1-3: Maria (owner/operator) + 1 part-time cook (20 hrs/week @ $18/hr)
- Months 4-6: Add second part-time employee for busy days (16 hrs/week @ $17/hr)
- Month 7+: Evaluate for full-time hire based on revenue trajectory
Supply Chain
- Proteins: Cash & Carry (now WinCo Foods Business) and direct from Carlton Farms (local pork supplier)
- Produce: Portland Farmers Market wholesale + Charlie's Produce for consistency
- Specialty ingredients: H Mart (Korean ingredients), Fubonn Supermarket (Asian staples)
- Tortillas: Direct from Tortilleria y Tienda De Leon (local Portland tortilleria)
Financial Projections
Startup Costs
| Category | Cost | Notes |
|---|---|---|
| Truck acquisition & build-out | $52,000 | Used step van with existing commercial kitchen |
| Equipment & smallwares | $6,500 | Additional cookware, prep tools, serving supplies |
| Vehicle wrap & branding | $3,800 | Full wrap design + installation |
| POS system (Square) | $800 | Terminal + tablet + receipt printer |
| Permits & licensing | $1,200 | All first-year permits and fees |
| Insurance (first year) | $3,000 | General liability + commercial auto |
| Initial inventory | $2,500 | First 2 weeks of food + packaging supplies |
| Marketing & launch | $2,200 | Website, signage, pre-launch events, social media |
| 3-month operating reserve | $15,000 | Covers commissary, fuel, labor during ramp-up |
| TOTAL STARTUP COSTS | $87,000 |
Monthly Operating Expenses (Stabilized)
| Expense | Monthly Cost |
|---|---|
| Food & packaging (28% of revenue) | $6,650 |
| Labor (part-time staff) | $2,800 |
| Commissary rental | $500 |
| Fuel & propane | $600 |
| Pod/parking fees | $400 |
| Insurance (monthly portion) | $250 |
| Marketing | $500 |
| POS & software | $120 |
| Maintenance / repairs reserve | $300 |
| Loan repayment (SBA microloan, 7 yr @ 8%) | $1,350 |
| Miscellaneous | $250 |
| TOTAL MONTHLY EXPENSES | $13,720 |
Revenue Projections (Year 1)
| Month | Avg. Daily Customers | Avg. Ticket | Operating Days | Monthly Revenue |
|---|---|---|---|---|
| 1-2 | 55 | $14 | 24 | $18,480 |
| 3-4 | 70 | $14.50 | 24 | $24,360 |
| 5-6 | 85 | $15 | 24 | $30,600 |
| 7-9 | 90 | $15 | 24 | $32,400 |
| 10-12 (summer peak) | 100 | $15.50 | 26 | $40,300 |
Projected Year 1 total revenue: $285,000
Projected Year 1 net profit: $34,000-$42,000 (12-15% net margin after all expenses including loan repayment and owner's draw of $36,000)
Break-Even Analysis
Monthly fixed costs (excluding food cost): $7,070/month. With a 72% contribution margin on food sales, break-even requires $9,820/month in revenue, or approximately 28 customers/day at $14 average ticket.
Based on conservative ramp-up projections, Fuego Kitchen reaches break-even during month 5 and sustains profitability from month 6 forward.
Year 2-3 Outlook
- Year 2: $340,000-$380,000 revenue. Add catering revenue stream ($3,000-5,000/month). Hire first full-time employee.
- Year 3: $400,000-$450,000 revenue. Evaluate second truck or brick-and-mortar transition. Loan paydown ahead of schedule.
Funding Request & Rationale
Loan Details
- Amount requested: $87,000
- Type: SBA Microloan (via Craft3 or Mercy Corps Northwest — Portland-based SBA intermediaries)
- Term: 7 years
- Estimated rate: 7.75-8.25%
- Monthly payment: ~$1,350
- Owner equity contribution: $23,000 (21% of total project cost)
Use of Funds
| Category | Amount | % of Loan |
|---|---|---|
| Truck & equipment | $58,500 | 67% |
| Branding & marketing | $6,000 | 7% |
| Permits, insurance, legal | $4,200 | 5% |
| Inventory & supplies | $3,300 | 4% |
| Operating reserve (3 months) | $15,000 | 17% |
Why This Loan Makes Sense
- Proven market demand: Koi Fusion validated Mexican-Korean fusion in Portland and scaled to multiple locations. The food truck segment they vacated has no direct replacement.
- Conservative projections: Break-even at just 28 customers/day — well below Portland food truck averages of 75-120 customers/day for established operators.
- Low fixed overhead: Food truck model keeps fixed costs under $7,100/month, meaning profitability is achievable even in slow months.
- Experienced operator: 8 years of restaurant experience + specific mentorship in Portland food truck operations significantly reduces execution risk.
- Owner has skin in the game: $23,000 personal investment (21% equity) demonstrates commitment and reduces lender risk.
- Collateral: The truck itself serves as collateral with an estimated resale value of $35,000-$40,000.
Recommended Next Steps
- Finalize truck purchase — Negotiate with 2-3 vendors, get pre-purchase inspection from certified mechanic.
- Submit SBA microloan application — Craft3 and Mercy Corps Northwest both accept applications online. Typical processing: 3-6 weeks.
- Begin permit applications — Multnomah County health inspection has the longest lead time (4-6 weeks). Start immediately.
- Secure commissary agreement — Tour 2-3 commissary kitchens (Portland Mercado, Kindling Kitchen) and lock in monthly rate.
- Start Instagram account & pre-launch content — Document the entire build-out journey. This is valuable launch marketing that costs nothing.
Note: This outline is designed to support an SBA microloan application. Before submission, we recommend adding a personal financial statement, 3-year cash flow projection spreadsheet, and copies of all permits/agreements as appendices. Nightshift can prepare any of these as a follow-up task.