When it comes to starting out in the food industry, one of the biggest questions is whether to open up a brick and mortar restaurant or take your food on the road with a food truck business. Right now some major brick and mortar restaurants are starting to close their doors, but the food truck industry is continuing to grow. There are at least five reasons to choose the food truck business over a brick and mortar restaurant.
The Food Truck Business Has a Higher Success Rate
The investment in a brick and mortar restaurant is a high-risk gamble because of several key factors including poor staff, lack of startup funding, and lack of food industry experience. The food trucks have a lower startup investment than the regular restaurants. Also starting small with a food truck, can allow you to control your brand and image and retain customers.
When you are operating a food truck, you have better control of how the food is prepared and stored. You control the open and close schedule and potential daily specials. However, in a brick and mortar restaurant, you could be dealing with customers who liked their food a week ago, but now they don’t like it today. Part of the blame rests on cooking equipment and time of day. In a food truck business you have a stronger quality control, you can set the presentation of the food when it leaves the truck.
Money and the Bottom Line
Opening a brick and mortar restaurant could end up costing you $500,000. However, a food truck business could only cost between $40,000 and $180,000, depending on where you buy the food truck. The bottom line is, putting your money into a food truck, allows you to not have to worry about paying your staff, rent or vendors. Investing in a food truck allows you to reach your customers and potentially cater a variety of events.
Able to Relocate at Any Time
With a food truck business, you can relocate to where the crowd is, whether it’s a festival or a local farmer’s market. When you have a brick and mortar store, you have one shot at picking a location, you hope will bring in the crowds. A food truck allows you to increase your profits by traveling to the people.
Grow Your Customer Base
A food truck business allows you to expand your customer base by being able to travel and having better exposure than the average brick and mortar restaurant. You can adjust your menu at any time with a food truck to adapt to your customer base and cultural tastes. With a brick and mortar restaurant, your customer base only comes from the nearby area, but you can draw your food truck customer base from anywhere, when you properly market it.
Legion Food Trucks can help you find the right food truck, when you are ready to start your restaurant on wheels. Visit out website to learn more and apply for food truck financing today!