If you want to buy a food truck, your friends and family shouldn’t be shocked. In 2017 the average full-time food truck in America grossed more than $300,000. Today’s consumers consider themselves “foodies”, and they love unique cuisine that strays from traditional restaurant faire. Even people who don’t consider themselves to be foodies flock to food trucks for that diverse, creative dining experience. And if you have a niche that caters to your audience, you will crush it.
Before you can dominate the food truck business in your local market, you must first buy a food truck from a custom food truck builder who has the skills and knowledge to help you be successful right out the gate. These five tips will help you find that ideal builder to help you achieve all your goals in dreams.
Have a Plan that Makes Sense
Ask yourself if your food truck business plan makes sense. This will include food truck revenue projections, your market, and your brand. As for revenue projections break these into three segments: food sales, beverage sales and catering sales. Factor in your expenses with ROI projections and ask yourself if the forecast is healthy.
Does running a food truck business in your area make sense? Do some research and determine how your potential audience engages food trucks, what cuisine is popular in the area, and learn how your community defines good, exciting food.
Does your brand reflect your communities you plan serving? Make sure it has a flare that resonates with your target buyers. Your brand should offer them something familiar but with a unique twist or something special.
Financing Your Food Truck
If you aren’t going to pay in cash you will need to find the best financing solution. Some food truck companies may offer their own internal financing. If they don’t, they should be able to help point you in the right direction. Small business loans are popular with food truck owners. Crowdfunding is another option where friends, family and people in the community contribute fund until you have enough to buy your food truck.
New or Used?
You may think that buying a used food truck will save you money, but in reality most used food trucks cause business owners to throw in the towel. Your ability to stay competitive and turn a profit relies on your ability to consistently operate and be in front of your eaters. Used vehicles break down and can rack up expensive repair bills. Your equipment can also constantly require repairs while you hemorrhage money. When you buy a new food truck you may be paying more up front, but down the road you save tens of thousands because your only bill will be routine maintenance. Furthermore, you will have peace of mind knowing that you have a high-quality custom food truck that won’t fail you in your busiest hours.
Finding the Best Food Truck Manufacturer
The best food truck manufacturer will be a company who builds you a solid truck designed to meet your goals and fulfill your needs without going too big or too small. They will also understand your market and build a truck designed to compete within it. The best food truck builders also help you stay within budget, and they have a marketing backbone to help brand your truck with the right vinyl wrap and technology.