If you’re interested in starting a food truck business, now is a perfect time. The food industry is changing tremendously, with much of these changes geared towards improving the experience for consumers.
Today, more consumers want food options on-the-go. If you don’t believe it, the average annual income of roughly 30% of food truck owners is between $150,000-$199,000. With that said, food trucks have become the perfect solution with their accessibility and the ability to provide consumers with on-the-go consumption.
If you’re preparing to start a food truck business or considering launching one, read on to learn how you can start a food truck business without capital.
4 Ways to Start a Food Truck Business Without Capital
The food truck industry is certainly growing. But many people who step into this industry have little capital or no capital at all, resulting in a difficult start. The good news is, it’s possible to get your food truck business off-the-ground without much capital. Here are 4 ways to help you get started.
1. Start With a Food Stall
Did you know that many individuals start with a food stall before investing in a food truck? A food truck can be costly. In fact, these trucks can range from $15,000 to upwards of $100,000.
Starting with a food stall is a great choice if you’re ready to get going but don’t have the capital to make that kind of investment. You can begin selling your food using a stall and consider doing pop-ups in different areas to help get the word out.
As your business grows, you can begin putting money aside dedicated to purchasing your first food truck.
2. Rent Equipment
Another option is to rent the equipment you need until you can gain enough capital to buy it outright. This can be especially helpful for food trucks that specialize in certain areas and need specific equipment.
For instance, if you run a food truck that specializes in coffee, you will need things like a coffee and espresso machine to help you run your business. These machines can be costly depending on the brand. Renting can help offset those costs until your truck generates enough revenue.
3. Get a Credit Card with a 0% APR
If your credit is in good health, then consider obtaining credit with 0% APR. At 0%, you won’t be charged interest on your purchase over a period of time. This means that you can purchase the things you need to get your food truck up and running without incurring additional fees.
With that said, if you choose to use a credit card to fund your food truck business, be sure to set a budget and have a plan of action on how you plan to pay the credit card off in a timely manner, otherwise it could be risky.
4. Crowdfunding
You’d be surprised at who is willing to invest in your food truck business. If you have a solid vision and business plan, you should consider crowdfunding. Crowdfunding has become extremely popular over the years for startup companies that need help funding their business.
Think about what makes your food truck business unique, create your pitch, check over your business plan, and find the right crowdfunding platform that fits your needs.
Starting a food truck business is a rewarding experience. If you are looking for a truck that represents your business, contact us today to learn how we can custom-build your truck to fit your needs.
