How to start your own food truck business
Things to consider
There are a large number of factors that go into determining the start-up costs of a food truck. This, naturally, depends on the type of food truck you are interested in opening, as this will directly affect the size of the truck required.
Our advice is to look into similar trucks that have provided the same service that you plan on providing, and base your decision on this. There is no point going into this project blind, and thanks to the huge popularity of the food truck market, there is so much to learn from others.
So, let’s start with the first step: the truck itself. There are a number of ways to get started in a cheap manner, from renting one to test the water, to selling at a farmer’s market to hone your recipes and raise public awareness, to starting from a second-hand trailer. However, if you are serious about this, the time will eventually come when you want your very own truck.
While the research side is of crucial importance, acquiring funding is more than likely going to be the biggest challenge when starting your own food truck business. Yes, the first questions you will likely ask yourself are ‘how much does a food truck cost?’ and ‘how much does a food truck make?’, but this line of questioning will quickly turn to how you can actually get your hands on one.
The process for financing a food truck can, of course, proceed in a number of different ways. This will depend on whether you can buy the truck outright or if you need to get a loan for the truck.
The most important thing is to have a comprehensive business plan, and to know exactly what you will need to spend in order to get your feet off the ground. While not all of the following are necessary, you should also consider the costs of a register or point-of-sale (POS) system, kitchen equipment, a truck wrap, a professional website, advertising, and the required professional and legal fees and/or permits.
The permits will differ depending on your location, so always check with your local authorities what is needed to legally operate a food truck. The last thing you want to meet is an avoidable stumbling block after you think you have everything organised.