Is a Food Truck Business Right for You?
Before your create a menu and design your truck, ask yourself these four questions.
How well do I know the business?
Before taking the food truck plunge, there’s a lot of research to be done, Fellows says. He spent hours online reading guides and articles about successful businesses. He also toured “food truck cities” to watch traffic flow and speak with owners.
Figure out how many other food trucks specialize in the kind of food you plan on offering. If there are already three sandwich trucks that frequent the business district, is there room for yours too? Try to soak up as much information as you can before making a decision.
Like any other business, you’ll need to create a business plan, find startup funds, and handle all of the administrative tasks that come with owning a business.
How will I find the right vehicle?
Both Fellows and Tona say that finding the right truck for your business is crucial. You’re not going to head out to your local dealership and buy a brand new 2014 food truck fresh off the showroom floor. Most food trucks are custom made. Tona’s truck, for example, was an old Entenmann’s delivery truck. It was gutted and fitted to meet her needs.
This process will take time and money, Fellows says. Plus, you want to find the right partner to build your truck because prices and workmanship can vary. Go in with a plan. To give you a few layout options, here are a few links:
Can I handle the schedule?
Your workday starts long before you pull into your lunchtime parking spot. You’ll need to buy food and prep it before you start putting everything together for your customers. While the weekday lunch crowd could be your main source of income, there are a lot of weekend events that could bring in some money too. Are you prepared to put in these hours?
Am I prepared to make money a few bucks at a time?
Fellows says his return on investment is based on nickels and dimes. In other words, if you’re selling a five dollar sandwich, your income will come in slowly. You’ll want to sit down and do the math. Figure out food costs, truck maintenance, and marketing expenses and see just how many items you need to sell to make the business profitable.
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