Owning your own Concession Trailer or Custom Food Truck business can be freeing and exhilarating. There are a great deal of things to keep in mind when starting such a business. We, at Concession Nation, want to make sure that you have all that you need to make your concession trailer or food truck business a successful!
Reasons for Going into the Mobile Concession Business
There are many different reasons you may wish to enter this business, such as:
- You wish to work for yourself
- You have a passion for cooking for others and you are a great cook
- You would like to own your own restaurant but cannot afford it – this would be a great stepping stone
- You have a restaurant but wish to expand without opening another restaurant
These are good reasons for owning a concession trailer or custom food truck. To make your concession business a successful one, we’d like you to consider going beyond the above. Incorporate the following to go further than any competitor you may run into…
The benefits of mobile food truck verses other food industry businesses are they are easier, scalable, and much more affordable. Keep that in mind as you go through this list.
Passion. Along with being passionate about food and cooking, you will want to be passionate about being consistent and the customers. There is nothing more exhilarating than to end the day of excited new customers consuming your culinary delights and knowing that you’ve done an amazing job. Consistency in food menus, timing from order to eating and in showing up where your followers expect you, will guarantee you a great business.
Money. The greatest benefit is the cost being considerably less to start a concession trailer or food truck business than a restaurant. There are, however, still expenses that have to be considered when putting your budgets together. Startup costs to keep in mind include:
- Purchasing the concession trailer or custom food truck – they can be financed, too. Food trucks are all-in-one transportation. If you choose a concession trailer, make sure you have a vehicle to pull it to your desired locations.
- Your truck or trailer will be your visual marketing tool. It is a moving billboard, and you will definitely want to ensure that the exterior design makes everyone hungry for your food as you drive down the road. Concession Nation has its own in-house graphics department that can design, print and install your exterior design for you.
- Include the basics for any business in your initial budgets – business licensing, permits and insurance. Don’t forget vehicle licensing and titles, too. If purchasing a concession trailer, check with your insurance agent regarding policies.
- As with any business, you will want to budget for your supplies and equipment for food preparation (other than the appliances), serving, cleanup, and storage; as well as business operation and office supplies. You can always search online to find the best prices, too.
After your initial start-up costs, keep in mind any ongoing budgets. These are good to know when it comes to pricing out your food. You’re prices are going to cover more than just food costs. Your sales will, also, cover the following:
- Basic overhead costs, such as vehicle fuel and standard maintenance.
- (Optional) Employee salaries and your portion of the FICA/Medicare, if applicable. The beauty of a food truck and concession trailer is that you do not have the overhead costs of a lot of employees. In one truck or trailer, space is limited and the need for a lot of employees is, too.
- Any ongoing paid marketing costs. You can run a lot of your own marketing yourself, social media, video marketing, etc… some additional costs might include any flyers, or paid ads that you feel are good for your business.
Business Skills. Business 101 skills include time and people management, basic accounting and more. First, being a problem solver and have excellent people skills – not just with the customers but with any employees, as well is A PLUS. As with any business, and restaurant business especially, you will find that problems come up. Developing a skill of solving problems quickly will help keep your business running smoothly.
For accounting. If you don’t have the skills yourself, you can always hire a book keeper and a tax preparer. As the business owner, make sure you keep aware of your numbers at all times no matter who’s taking care of the books.
Aptitude. Being a multi-task individual is a must for anyone in the food prep industry. You will be handling everything from food preparation to fixing a flat tire. It is good to be a jack-of-all-trades type of person. Being flexible and pliable will be a great personality trait to help you at all times.
Owning your own food truck or concession trailer is a fantastic dream. It does not have to be JUST A DREAM, though. You can make it a reality by keeping with all of the above skill sets and knowledge.
More than a Food Network Reality Show. A lot of people are making a very successful and enjoyable business out of food trucks and concession trailers. Are you ready to make your dreams a reality? Call Us! We would love to be part of your journey.