Hi Darkwhite – welcome. 
Are you planning to run the cart yourself? or
will you have helpers. I don’t know about anyone else but
your hours don’t seem realistic – from 11am to 7pm. That just seems like a very long day to me.
I can see starting at 11 and shutting down around 2pm and then doing
the bar scene later that night at 9 or 10? But that is me…
 
It sounds like you are getting good advise from everyone – business plans can be worth doing not only for a loan, but it is good to see everything down on paper. Like everything else you can spin them anyway you want but if you try to be as honest as you can, a business plan can be a good road map to where you want to go.  
 
I do think the best advise is the KISS (Keep it Simple Stupid) method
I try to live by that daily…good luck.
 
Philly Hu

I think 90% of hot dog vendors in New York City would say these are very realistic hours.  But great advice.