More people are seeing the value of starting their own business, and the food truck industry is one of the most thriving small business models out there. According to Inc., the state of entrepreneurship in America has grown by more than 500 percent in 2017 meaning that people are scrambling to escape the dull ennui of their nine to five in favor for something that means more, and that is theirs.
So why the food truck business? First of all Mobile Cuisine reported that the average food truck working 5 days a week grossed more than $300K. With a low overhead and a high opportunity for making a healthy profit fueled by ongoing growth, entering the food truck business is a clear no brainer.
New Custom Food Trucks or Used?
80 percent of food truck businesses using previously owned trucks closed for good in their first year of business. Of those who started with new trucks, only 40 percent closed. One of the biggest killers to a food truck business is the combination of expensive repair bills and one’s inability to sell cuisine to hungry customers. Entering the food truck business with a custom food truck builder creating a design perfect for your business model will significantly increase the ease in your first couple years. Although the initial startup will be more with a new food truck refurbishment or fresh build, you will save more money in the long run by being able to work every day without interruption while only investing in routine maintenance.
Know Your Market
If you truly know the people you will be selling your food to, you will be able to create a customized experience that will keep people lining up to indulge in your delicious fare and white-glove service. Foodie communities are just as unique as the meals they consume. People know what they like, what they don’t like, and they know what it takes to get them curious. You will have a much easier time thriving in the food truck business if you can brand yourself and your food in the same language your customers speak.
Seek Ultimate Exposure
You will have a better chance of succeeding in the food truck business if you don’t limit yourself to your local neighborhood. Get the necessary permits to park your truck in music festivals, carnivals, flea markets and sporting events. Allow people outside your community to have an opportunity to experience your food. You should also build a website and be active with social media. The food truck industry has extremely loyal customers who follow their favorite mobile kitchens all over the city. You will have an easier time growing your business if you can reach people through digital means.
Talk to a Food Truck Builder
The best custom food truck builders are also clever marketers. At Legion Food Trucks we not only create custom high-tech beautiful food trucks for each client, we also understand your market and help get you out of the gate upon a path to achieve customers and keep growing. From start up financial loans, to inventory management, and marketing–your food truck builder will be able to answer your questions and paint a forecast predicting your success as a food truck owner. Call today, and discover the reality of your dream.