How To Start A Food Truck Business

Do you love food and travel? Do you like to serve people high-quality food items? Do you have a good idea for the right location? Can you keep up with the demands of a hungry crowd?

If so, then you might be interested in learning how to start a Food Truck Business.

Brainstorm Your Food Truck Business Idea

In starting any business, one of the most important things is to put together a well-written plan. Laying out exactly what needs to happen for you to be successful helps put everything on the table so you don’t miss anything.

You can use some free great resources like Xmind or MindMeister to brainstorm your business strategy.

Determine Who Your Customer Is And Find A Location

Next, you will need to focus on your target market – who is your audience?

The beautiful thing about the food truck industry is your business is on wheels. Consider busy office or industrial parks where people are on the go and seeking a quick meal.

Local events, trade shows, breweries, and arenas are great places to post your food truck.

The good news is that you are mobile and will have the ability to travel to multiple locations and special events. Ultimately, you will need to figure out the best spots in your local area.

How Big Is The Mobile Food Service Industry?

In other words, that means more and more Americans are dining with Mobile Food Service Vendors.

Why Starting A Mobile Food Business Now Is A Good Idea

Simply put, more and more Americans are opting for better choices when it comes to fast food on a budget. This trend indicates that consumers want good food and they want convenient access to quality food vendors in close proximity.

Here’s a neat little infographic we created to outline some of the main points of starting a food truck and the industry itself.

how to start a food truck business infographic

Food Truck Business Facts

2015 Food Truck Industry Data

National annual projected revenue: $1.2 Billion

Average range of startup costs: $40,000- $150,000 (Option of New or Used Truck)

Total number of food trucks in U.S.: 4,000+

Average revenue generated per food truck: $250,000 – $300,000

Average spending per order at a food truck: $12.40

Average cost of new food truck: $75,000-$90,000

Average 2015 Food Truck Startup Costs: Average Cost

Food truck (includes wrap and equipment): $85,000

Initial product inventory: $1,500-$2000

Permits and licenses: $300-$500

Website: $100-$500

Register / POS: $250-$500

Uniforms: $250-500

Paper products: $150-$250

Misc. expenses: $500-$1000

Pots, pans, etc.: $1000 – $2000

Fire extinguisher: $100-$200

Total Estimated Startup Cost: $80,000 -$100,000 (with New Truck)

Food Truck Business Ideas

Modern technology such as Facebook, Twitter, Snapchat, Instagram and cell phone messaging have allowed food truck vendors to alert potential customers to their locations. It also allows them to develop a loyal following in their community.

It’s not just for hotdog vendors anymore. Now, patrons can dine on fancy cuisines such as gourmet Tacos, Sushi, and other exotic selections.

While you can always go with barbecue, hamburgers or sandwiches, you’re going to have to separate yourself from every other food truck. There’s literally hundreds of food truck recipes, so be sure to think outside the box for something that is tasty and your patrons will enjoy.