How to Start a Food Truck Business
To say that the mobile food industry is booming is an understatement. How to start a food truck business is a question that many are asking daily.
According to the Emergent Research report, the food truck industry was expected to generate as much as $2.7 billion in annual revenue by 2017. That figure is a whopping fourfold boost from its 2012 figure of $650 million. Reports also show that majority of food truck diners rate their experience favorably, with 80 percent of interviewed patrons viewing the dining experience as “fun” and “unique”.
From an entrepreneur’s standpoint, a food truck business has several unique benefits that traditional restaurants and brick-and-mortar establishments do not have. For instance, it allows you to take your business to new places in search of higher foot traffic and greater demand for your food. Here’s four steps on how to start your meals on wheels dream:
Choose a Location
Where you set up your food truck directly impacts how much food you sell. Pick a bad spot and you end up with low revenue. On the other hand, a good area with high foot traffic and the right target audience can yield substantial profits week after week. Remember that not all places are food truck-friendly. There are some cities or neighborhoods that either don’t allow them or put a cap on the number of trucks that are selling at any given point. New York and San Francisco, for instance, have started to impose caps on food truck permits due to the business’ boom in these places in the past few years.
Choose a Name
A commonly overlooked task in creating a business is naming it. It seems so simple that entrepreneurs push it aside for more important tasks, like getting equipment or applying for permits and licenses. Nonetheless, choosing an appropriate name is crucial to get started on the right foot. You’ll need to write and design menus, order signage for your truck, and apply for business permits, which all require that you’ve already decided on a name.
Make a Menu
What cuisine you sell should be decided by your culinary expertise, budget, and location. New York, for instance, has a high number of food trucks that sell hamburgers, barbecues, and grilled cheese sandwiches. Others focus on Mediterranean dishes and some go for Asian infusion dishes. It’s all about knowing who you’re cooking for and what dishes would potentially be in high demand. Making a menu is perhaps the most complex part of building your food business, and it should be. Your menu can make or break your business.
Get a Truck
From customized step vans to catering trailers, you can get the vehicle you need without having to build everything from scratch. Work with a trusted company, like California Cart Builder, to build and design a food truck that best fits your budget and needs in terms of space and horsepower. Some food trucks will require more features than others. It’s best to leave it to experts to build the food truck while you focus on the business side, which includes finalizing the menu, scouting the perfect location, and marketing your new business.
