If your family owns a food truck business, or you are in the process of entering the food truck business landscape, you need to weigh the value of investing in a custom food truck as opposed to buying a used food truck from another seller.
More than 80 percent of food truck businesses fail within their first two years of business, and the number one cause for this failure is the food truck itself: it’s design and / or the quality was not meeting the needs of business owners. This is why buying a used food truck comes with a great degree of risk; the integrity of the equipment itself (range, griddle, refrigeration, etc), the engine and other mechanical components run a significantly higher risk of malfunctioning causing food truck business owners to spend ongoing amounts of thousands of dollars on repairs. In addition, food trucks lose money when they are in the shop, and their customers go to the competition.
Custom Food Trucks are Always the Better Investment
Now you know the risks involved with buying a used food truck. On the flip side, Buying a food truck that’s new and customized to suit your needs may cost more up front, but in the long run where it really matters you will save thousands and maintain your ability to stay in business turning a profit.
Custom food trucks also prove to be the better investment because you and your food truck builder have the power to design the platform based on your growth goals. You might be a one-man-show serving your family’s Spanish empanada recipes. But you may have a goal to serve other famous Spanish dishes like paella, gazpacho and pisto. This might require bringing on your nephew or brother to help run the business. And this means who will need more prep space, work space, and storage / refrigeration.
In some cases family businesses sell their food truck to buy a bigger one to accommodate their growth goals, but there is always a financial loss in doing this as the resale value of custom food trucks don’t give justice. Instead, when you partner with a custom food trucks company that knows how to build a vehicle that suits your current needs as well as your operational requirements for future growth, you wind up saving thousands.
Custom Food Trucks Attract More Customers
People eat with their eyes before they eat with their stomachs. And before they even see your cuisine, their eyes first go to your food truck design. Anything that’s custom automatically conveys value. And a custom food truck helps people for the idea that your menu must boast high-quality items. Make sure the structural shape and the aesthetic look are appealing for your target buyers, compliment your cuisine, and nod towards your local community.
Your Family Food Truck Business and Success
Follow these tips in shopping for custom food trucks, and your family business will already be in a great position to be highly profitable and hit your revenue goals. Make sure the food truck company has at least more than 10 years of experience, has built custom food trucks for large corporations as well as small family-owned businesses (a testimony to their skills and depth), and make sure they help you with financing your food truck, if in fact this is a route you plan taking.