Starting a food truck is a viable business opportunity because of its increased popularity. People are getting more and more inclined towards food trucks. Their quality food and their availability are the major factors which attract customers towards them. People usually get short lunch breaks during office hours. In that time, they prefer to buy food from food truck instead of going to a fancy restaurant. It saves them time and effort both. According to a survey, there are almost 16,000 individuals who own food trucks and make their living out of it.
Cost Breakdown of Food Truck
Many people believe that food trucks provide good and independent business opportunities. They want to opt it professionally as their own business. The first thing which you need to consider ere is the estimation of cost i.e. how much it is going to cost you to start this business. It depends, but it may cost at least $29,000 to start a food truck business.
- According to a recent market survey, the truck and equipment can cost almost $25,000 to $100,000
- Initial product inventory like food supplies can cost almost up to $2,000 to $3,000
- To legitimize is also very important. So for that, you will need permit and license. This could cost almost $100 to $500. It varies from area to area and it also depends on your conditions.
- You can also advertise it online. You can also create your own website. It can be free or its cost could go up to $5000. It varies a lot depending on what exactly you want. Posting any ad on Facebook or Twitter is not going to cost anything. So that is a good way to start if you don’t have enough budget for advertisements.
- Registration is going to cost almost $200 to $1,000.
- You won’t need them, but if you want a proper uniform then it will cost you money. That variates according to your choice. If you don’t want any uniform then it’s not going to cost anything. But the price of uniform can go as high as $1,000
- You will also need budget for supplies like tissues and disposable plates, spoons, glasses, forks. They require at least $200 to $300
- Some decorations and unexpected expenses could also occur like blackboard and chalk to display your menu and specialties. It’s better to spare $500 to $2,000 for these extra expenses.
- You will need kitchen items like pots, pans, and spoons. For that, you should have at least $1,000 to $2,000
- Just in case of emergency, you should also have a fire extinguisher with you which will cost $100 to $300
Food Truck & Four Walled Restaurants
From an entrepreneurial perspective, a food truck is a very good option to start your own business. It requires very less money as compared to a fancy restaurant. It is not only cost efficient but it is also an effective approach to reach out to customers. Unlike restaurants you are not bound to one location. You can cane your location any time you want. This will change your customers as well. So if you have enough money and you want to start a business than buying a food truck is very good option.
Image by altiemae