If you are in the process of buying a food truck, you will need all the expert advice you can get. Buying a food truck is not only going to be your biggest business expense, but it also provides a platform that will dictate your ability to grow and be successful. This is why it’s important to do your research and pay attention to what food truck builders have to say.
Buying a Food Truck from the Right Company
Finding the right food truck builder is, obviously, crucial. But most people fail to recognize how value is defined. You may not know it, but your goals revolve around buying a food truck from a builder who understands your business model, market, growth goals and provides you with the best solution to achieve all business objectives.
Therefore, the first thing you should be cognizant of when buying a food truck is the actual strategy and process the builder embraces when constructing the heart of your business. All too often, people buying a food truck focus on the price tag. But what they don’t know is that real value lives in the approach. A food truck design must be customized to your menu, target customers, and goals. And if you can find a company that takes the time to understand your customers, local market, and that focuses on your growth goals, the value of your investment will be significantly greater.
Buying a Food Truck that’s New VS. Used
There is a big misconception that when buying a food truck people save money by purchasing a used vehicle. The fact of the matter is that used food trucks are unpredictable, and when running a successful business, there is no room for the unknown.
A significant number of failed food trucks never achieved their growth goals due to technical and mechanical problems, and inadequately designed food truck designs. In fact, food truck businesses have reported losing multiple thousands of dollars in repairs. Not only did they have to pay to have their used food truck repaired multiple times throughout the year, but the time the food truck was off the street business was lost and customers went to the competition.
This is why buying a food truck that is new, reliable, and custom to your business model is crucial for success. Your custom food truck should be built to accommodate your current capabilities, but also provide room for future growth. In other words, if your food truck business revolves around fish and chips, and your current menu offers fried fish, and one of your growth goals is to expand and offer grilled fish, your food truck must have the space to accommodate new or upgraded equipment, as well as have enough floor space for additional employees.
Therefore, buying a used food truck does not present the most value even though you might be paying a lower sticker price. Instead, when buying a food truck, look for a high-quality custom food truck that will facilitate growth.