When buying a food truck you dream of being profitable; you aren’t starting a food truck business because it is all fun and games. Let’s back up: the food truck business is fun and can be very rewarding, but your ability to continue to be your own boss, run a creative business, and meet interesting people while working when, and where you like, requires smart purchasing decisions when you are buying a food truck.
First things first, buying a food truck from a top food truck builder requires some important considerations. Remember, your food truck will be the biggest investment you make in your business, and it will also be the platform from which you are able to create your menu items–really, it will be the heart of your business. Therefore, knowing what to look for in food truck builders to ensure your profitability means getting good buying tips, but also knowing how to identify red flags that could indicate a bad investment. This article will help you identify just what the common pitfalls are.
1. Avoid Buying Used or Second-Hand Food Trucks
Last year it was reported that more than 80 percent of first-time food truck businesses failed within their first two years of business. And one of the main reasons for epic failure equated to all the thousands of dollars spent on repairs used food trucks and the time they spent off the road in the shop getting repairs. Simply put, buying a food truck that’s new from a reputable builder set you up for success right out the gate knowing that the platform has been customized to help you achieve your goals, and knowing the equipment and engine is 100%.
2. Buying a Food Truck with Cheap Materials to Save a Buck
Avoid buying a food truck from a builder that creates the illusion you are saving money by buying low-grade materials. Many food truck companies actually make more money on their end by peddling poor-quality materials while giving their customers the impression they are saving money. For example, some countertops are porous and are known for collecting mold and getting a bad grade from the Health Department, or worse yet, cause you to lose your license. When buying a food truck look for a builder that uses stainless steel materials, as they are resilient, easy to clean, and promote a healthy prosperous environment.
3. Buying a Food Truck that Barely Provides Enough Space
Right now you may have eight items on your menu, a few select pieces of equipment, and enough floor space for two people. But if you have growth goals and dreams of expanding your business, you will need a food truck with enough space to serve its purpose a few years down the road. When buying a food truck, talk to the builder and share your goals. If you have a goal three years from now to expand your menu, add some technology, and hire on a few more people, you will need a food truck big enough to comfortably and legally accommodate such plans. Make sure your food truck builder has your long term goals at heart when building a food truck, or you set yourself up for some problems down the road.