Food trucks are one of the hottest trends to hit menus in recent years. They’re popping up on street corners, at big events, and even at home. This has made the food truck business is an exciting and fun adventure.
But before you can start to make your dreams come true, there are some things you need to know about the cost of owning a food truck. You’ll need more than just an idea if you want to make this your business venture. The process may be costly but the rewards can be great. The most expensive part of operating your food truck; from permits and licenses all the way through labor costs and insurance premiums.
Whether you’re renting or purchasing, there are many factors that influence the cost of owning and operating a food truck.
Here are key factors that influence the cost of owning a food truck:
- Type of food truck vehicle
The type of truck you choose can actually affect how much you pay for it. For example, if you buy a used food truck vehicle that is not in great condition, then expect to pay less than someone who buys a new one. If you rent one, then there will be an additional monthly cost based on the length of time and mileage.
- Where you are located
The city in which you reside will greatly determine the cost of operating your food truck business. Factors include permits, licenses, insurance premiums, and employee wages to name a few. The more populated the location, the higher costs will run. Where you locate your business is also critical when it comes to competition in similar food venues.
- Customization and fit-outs
The look of your food truck and the fit-outs inside it is very important. Some people change the whole truck exterior, while others choose to keep with a classic look. When it comes to the interior, you can create different sections for storage, cooking and serving. Customization like this will affect how much you spend on your new business venture.
- Additional Features
The more features you add to your food truck, the higher cost it will be to buy or rent it. For example, if you want an oven in your food truck than the cost may be significantly greater than a standard food truck with just hot plates and grills. Adding additional equipment like this can affect other costs for operating your business.
It all depends on the type of food truck you want to own, where you plan to park it, and how often your target audience will be in that area. The cost can range from $10K for a small truck with limited capabilities up to $200k+ for a large trailer-based rig with full kitchen facilities.
If you’re looking to start your own affordable mobile eatery and not in a position to purchase a food truck, we can help! Our food truck rental rates are affordable so you can enjoy delicious cuisine without breaking the bank.
click here for more articles