What are the Basic Costs for Running a Food Truck Business?
You’ve heard that the “Food Truck” industry is estimated to reach a record $985 million dollars this year. Now you’re joining the ranks with other food trucks and trailers to get your slice of the income generating pie. Or maybe you’re a restaurant or franchise owner who has heard about the rising trend of others who are successfully using food trucks to add to their bottom line. No matter why you’re looking to own a food truck, we’d like to help you understand the basic business costs involved.
There are three main areas to focus on: food truck costs, daily operations and marketing.
Here is how each area breaks down:
1. Food Truck Cost
2. Daily Operations
Running a food truck business is considered low cost when compared to starting a brick and mortar restaurant. Most costs in a food truck or trailer are scaled down. But that isn’t to say, there aren’t any costs.
When you start your food truck business, you need to check with the local and state governments about the costs for the inspections, permits, certifications and licenses? To take payment for your food, a POS system will cost for the system plus any credit card transactions. Are there any parking fees? Regular on-going costs include, but are not limited to, staff salaries, uniforms (if you have them), food costs and supplies; as well as, fuel and insurances (for both the business and the food truck itself). Will you be renting a commercial kitchen for food prep?
Now that your have your food truck, you need to get the word out and create a buzz about your locations, food and unique concept to prospective customers. Marketing is an ongoing effort for any business and food trucks are no different.
Marketing online through social media, SMS (text) systems and email list building are all great ways to grow your business. If you don’t know how to do any of these strategies, hiring a part-time person or a company will help you to overcome the lack of knowledge.
Additionally, you may want a portion of your marketing budget to go towards event participation. What are the average costs for the entry fees for the desired events?
The food truck industry is not projected by expert statistics to start slowing down any time soon. If you are leaving your 9 to 5 to be your own boss or joining the ranks with other franchises and restaurants by starting your own food truck or trailer business, then be sure to know your basic costs ahead of time.
Then contact us at Concession Nation to start discussing your food truck to be
built out to fit your specific needs. Our professional sales team is
available to help build your food truck today.
Call us at 888-390-4479