Food trucks are the latest craze in the culinary world. With outdoor dining at its peak due to COVID-19 restrictions, launching a food truck seems to be a better idea now than ever.
While owning a food truck can be rewarding, many business owners underestimate the amount of time, effort, and business savvy it takes to operate one successfully.
Still, there are a number of reasons why owning a food truck business makes sense. Here are a few benefits of owning a food truck over your typical brick-and-mortar restaurant.
Cost savings
There’s no doubt about it – launching a food truck is much more cost-effective than starting a brick and mortar restaurant. According to Forbes, food trucks can take anywhere between $50,000 to $80,000 to get off the ground. Restaurants, however, can cost from $100,000 to $300,000. If you are hoping for a way to enter the food world without eating away at all of your life’s savings at once, a food truck may be the wiser choice, to start.
Convenience
To be clear: starting a food truck business isn’t exactly an easy feat. Between licenses, permits, insurance, and hiring staff, there is plenty of work that goes into owning a food truck. However, food trucks also thrive on convenience. Customers flock to food trucks for quick, affordable food they don’t have to travel too far to get if they are in the area. With a good location, delicious food, and an easy ordering process, your food truck has the potential to make a big splash.
Opportunity
One of the biggest benefits of owning a food truck is that it, well…moves. This unlocks the door to a variety of opportunities for new business. You can now go to where your customer is. Whether this means driving over to that local event, catering for an outdoor gathering, or setting up shop in a high-traffic area during lunchtime, the ability to move around as you please can lead to an influx of business if you play your cards right.
Creativity
Are you a creative person by nature? Food trucks have a tendency to get away with things a brick-and-mortar restaurant can’t. This means experimentation. Feel like adding a new, off-the-wall menu item? Want to bring on a guest chef for a pop-up? Want to paint your food truck a bright pink and blast Britney Spears on the speaker? Owning a food truck is a sure way to unleash your creativity in ways you never thought possible. With a food truck, the world is your oyster.
Learning
Many entrepreneurs use food trucks as an entry point to owning their own restaurant. This is a great approach. Chances are good that if you find the food truck business overwhelming, you may find a brick-and-mortar restaurant nearly impossible. Launching a food truck will give you the knowledge, experience, and business savvy you need to go on to bigger endeavors in the future. This roadmap is likely to set you up for success.
Are you ready to launch your Mission food truck? There’s no better time to get started. Contact Mission EDC for more information
