Food trucks are trendy, require minimal investment, and are always in demand. Today, many people with a talent for cooking or simply food lovers and aspiring entrepreneurs are venturing into the business of food on wheels!
Breakfast food trucks especially do a lot of business, with people having to rush to school and work, with little or no time to prepare a meal. They usually grab their coffee and sandwiches on the way and eat while commuting.
Let’s take look into the daily business of food trucks, buzzing with activity. And also, at the steps that one will have to follow to open a breakfast food truck business. Read on to learn more.
A Business On Wheels
Running a breakfast food truck is a full-time job. It includes shopping, early morning preps, cleaning, and setting up before the customers arrive. You will also have to do the accounting, marketing, and manage the employees.
This business does not require any formal education, however, it would be beneficial to have some experience in the food industry.
A food truck is a lucrative and a successful food truck owner can earn more than $500,000 a year. Let’s take a look into how one can start a breakfast food truck business.
Create an Appealing Concept
What is your unique selling point (USP) and why should customers choose your food truck over the others? You can offer a special blend of coffee, or get into health-foods, serve free-range chicken eggs, and organic salad greens.
You must find your own niche and become an expert at it. Also, as with any other business, you will need to draw up a business plan.
Look Into the Investment Required
You will initially need to make an investment. The main expense will be the cost of the food truck, painting, and the installation of kitchen equipment. Keeping a budget for marketing and advertising is also essential. Other costs will include licenses, permits, and insurance.
While the costs can vary greatly, it can cost you anything between $28,000 to $114,000 to get the business started. You can consider taking a loan from a bank or a credit union, start a crowdfunding page, or borrow from friends and family.
Get a Food Truck
You can buy a brand new food truck that can cost a whopping $100,000. A better option is to buy a used food truck, which costs around $30,000 to $50,000.
Used trucks are available for sale on websites, like Used Vending, and Roaming Hunger. Leasing a food truck or getting a food business franchise can also be an option.
Apply For the Required Licenses
Licenses and permits vary according to locations. Some of the licenses you will require are the Food Safety license, a fire certificate, a vehicle license and, a parking license.
You will also need other business licenses, like the DBA (Doing Business As), and a state sales tax permit. In case you plan on having employees, you will have to apply for an Employee Identification Number.
Market Your Business
Create a nice logo, an appealing name, and tagline, and work towards establishing your brand. Go ahead and form an interactive community of fans and followers on social media. Update them on your location, newest additions to the menu, ask them to vote on a Sunday special, and keep them involved.
You can also market your product by setting up your cart at pop-up fairs, farmer’s markets, and corporate events. Printing T-shirts, caps, posters can also help promote the brand image.
The Bottom Line
By serving a delicious and wholesome breakfast, being creative, and garnering customers you can steadily gain success. By traveling and exploring new markets, you can begin to expand your business into a brand that is both loved and in demand!
