51: Serving Up A Sizzling, Seasonal, Success, with Poncho’s Tacos

Sell out within the first couple of hours on opening day. Ramp up inventory. Sell out again. That’s been the trajectory for Poncho’s Tacos during their first weeks in business. They have a Birria taco stand at a night market that is only open during the evening on weekends. It’s also only seasonal, running for just over 5 months each year. Expected attendance at this year’s market is more than one million visitors. The main draw is the over 110 food booths and food trucks offering more than 600 different foods items. That’s a lot of competition that the new kids on the block, Poncho’s Tacos, are up against. This group of 5, 18-year-olds have done so many things right it’s a case study in how to successfully launch a venture, including; how they tested their product and pricing prior to the market, the two key decisions they made and acted on that enabled them to stand out from the crowd, what they did to gain free media exposure, and more. Whether you’re thinking of setting up a seasonal booth somewhere or you’re interested in an entirely different hustle, be prepared to capture ideas that pop into mind when hearing their story, to grow your venture. Be sure to check out the 5 Success Takeaways I share at the end, which includes an action that is very simple, but one that will have a major impact on the progress you make from today on with your side hustle.   What You’ll Hear: 02:34 Meet Matthew Berda, Mikito May, and Kenito Garrido (partners also include, Danny Alvarez and Henry) 04:45 Offseason time will largely focus on streamlining and scaling for next year 05:35 $20,000 - $30,000 to launch the business 06:35 They were very careful about their spending, what they bought, and sought out good used equipment 08:10 How and why they decided on tacos 09:36 Mikito knew they had to get word out so he contacted major local media 10:20 Determining price point of menu items 11:36 Every day they check their sales and expenses so they know exactly where their finances are at 12:13 The volume they are doing each day was their biggest surprise 13:09 What their typical week looks like 14:14 Despite increasing inventory, there are weekends they still sell out 15:10 Leveraging their age and marketing 16:17 Their signature menu item - The Anaconda – a  2 1/2 foot taco 17:45 A $20 tip is a nice confirmation 19:50 Find people you really want to work with and that you have chemistry 20:10 Don’t overthink it, just try it 20:38 Find a mentor in your field of interest 20:50 Have an end goal - here’s why Takeaways 21:40 Set a deadline. If you commit, your whole mindset will change 23:03 Seek out an accountability partner 23:16 Want more guidance on setting things up with your accountability partner? Reach out for a pdf from Joan 24:05 Know your audience and give them what they want 24:27 Get word out - don’t be a best keep secret 25:42 The value of small tests 26:00 Have your end goal in mind. Do you have one? If not, get one. Use it as a guiding light for decision-making   Connect with Poncho's Tacos: https://www.instagram.com/ponchos.tacos/ https://www.ponchostacos.ca/ https://www.tiktok.com/@ponchos.tacos ponchostacosyvr at gmail dot com   Connect with Joan: https://www.instagram.com/joanposivy/ https://www.facebook.com/posivy/ https://www.joanposivy.com/   Be on the show! https://www.sidehustlehero.com/guests/intake/