Have you been thinking about starting up a food truck business? You might be glad to know that the food truck industry is expected to grow massively! The projected revenue growth for the next five years is 3.7%, which is huge. If the industry continues to follow this path, soon it will be worth a total of $1.7 million dollars!
This alone should pique your interest in starting a food truck, but do you still need more convincing? Food truck franchises have little risks involved and smaller start-up costs than of a brick-and-mortar franchise.
Opening a burger food truck is rising in popularity, especially for first-time franchisees. Many who find they enjoy running their business move on to buying other franchises- you can learn a lot about the business world by running a food truck.
Here are all the reasons why right now is the perfect time for starting a food truck!
1. The Initial Investment is Low
If you want to open a business, check out food trucks that are for sale. Right now, it would not be a good idea to open a traditional sit-down restaurant with social distancing and quarantine being in effect in some areas- it would be expensive with few customers coming in. On the other hand, food trucks are mobile and only can offer take-out.
Food trucks have much lower investment costs than a restaurant. This way you can save money that would be better used in creating your food truck menu or operating costs. The equipment and cooking tools for a burger food truck are also much friendlier to your wallet than equipment for a full restaurant kitchen.
In short, a food truck franchise would cost little to start and you could start making that money back right away.
2. The Operation Cost is Also Low
There are a ton of hidden costs to look out for when opening a business. However, food truck franchises have very little operation costs.
All operation costs are monthly- you need to pay for gas, food, and other supplies. Your food truck team would be much smaller than a restaurant staff, and you would not need to constantly keep a building in shape.
Any number of things can go wrong with a building; you might be worried about electric wiring, water pipes, or needing to replace broken tables or chairs. You do not need to worry when you buy a food truck franchise!
Food trucks require little maintenance, very rarely needing major repairs made. Even when something does go wrong, it is cheaper to buy a truck part than a part for a building.
3. You Can Go Where the Money Is!
Many potential business owners will put off starting a franchise during a recession. If customers do not have money to spend, opening a business would be risky. However, burger food trucks are mobile.
This is one of the most important benefits of starting a food truck. You can take it anywhere! If you notice sales are lacking in your area, you can always hunt for a more lucrative place to set up shop for the day.
Plus, food trucks can take part in special events and serve the many hungry customers gathering there. Participating in events also makes for solid marketing.
Not to mention, travel is fun and a wonderful way to meet new people and build friendships! Imagine the stories you could tell after exploring a summer in a food truck. Just be sure to bring your permits.
4. They Attract Customers
Potential customers realize that street vendor food can be unsafe. However, food truck franchises serve safe and clean food. Customers can tell that their food is more hygienic and will flock to a food truck over a vendor stall at an event. Customers also know that items from a food truck menu are inexpensive compared to their other options.
Individual customers also will oftentimes pick out their favorite food truck and hunt them down when they are hungry. When you start your food truck, you will be surprised to see how many familiar faces appear at your window. Having a “regular” customer is great for business, as they usually get friends to try your food when they are happy with your service.
5. Social Distancing is Made Easy
Social distancing is an important part of our lives right now. With a burger food truck, customers would be able to stand apart from one another, get their food fast, and return home to eat their meals. It works better than a restaurant, where buildings can get crowded. You can not run out of space outside.
Plus, if someone is worried about how their order is prepared, they can easily see everything through an open food truck window. There are way fewer people in a food truck coming into contact with your food than the amount coming into contact with it in a fully staffed kitchen.
Food truck owners can be advocates for social distancing and your potential audience can be assured that their meal is 100% safe to eat!
This is the Perfect Time for a New Food Truck!
After reading this list, it is easy to see why now is the best time to start a food truck. Burger food trucks cost little to start, have few risks, and are cheap to operate.
There is also the added benefit of mobility- you can go anywhere you need to sell quality meals! Customers are also naturally attracted to the health and prices of items on your menu. But, the most important reason?
Food truck franchises make social distancing easy. As your state starts to open up, food trucks are a good way to a delicious meal without getting too close to other people.
To conclude, now is the perfect time to look into food trucks that are for sale. Do your best to get a good deal and watch how fast the money starts pouring in!