Interested in starting a food truck business?
Interested in starting a food truck business?
Written by: Mary King 9/2/2021. https://fitsmallbusiness.com/
I’ve received several calls from entrepreneurs wanting to venture into the Food truck industry. I found this article published on fitsmallbusiness.com. The original article is over 15 pages; here is the condensed version that includes a startup cost chart…
I’ve received several calls from entrepreneurs wanting to venture into the Food truck industry. I found this article published on fitsmallbusiness.com. The original article is over 15 pages; here is the condensed version that includes a startup cost chart…
How to Start a Food Truck Business in 9 Steps
To start a food truck, you need a competitive and appealing concept, a viable business plan, a fully equipped food truck, and a solid marketing strategy to build your customer base. If you’re looking for a money-making business idea, a food truck is a great one. Successful food trucks can bring in more than $500,000 per year, with startup costs around $40,000.
Starting a food truck generally takes three to 12 months and requires these nine steps:
Starting a food truck generally takes three to 12 months and requires these nine steps:
1. Research local food trucks and laws
2. Choose a name and concept.
3. Register your business and open a bank account.
4. Raise funds for your food truck.
5. Get licenses, permits, and insurance.
6. Purchase your food truck.
7. Purchase equipment and supplies.
8. Hire and train staff.
9. Market your food truck.
Food Truck Startup Item | Approximate Cost |
|---|---|
One-time cost | |
Purchasing a Food Truck | $5,000 to $125,000 |
Vehicle Inspection | $100 to $500 |
Retrofitting and Bringing Your Truck to Code | $25,000 to $50,000 |
Generator | $1,500 to $10,000 |
POS Software System and Hardware | $500 to $1,500 |
Paint | $1,000 to $3,000 |
Truck Wrap | $2,500 to $5,000 |
Initial Food Purchases | $500 to $2,000 |
Utensils, Papers, and Goods | $500 to $2,000 |
Website Design | $500 to $3,500 |
Initial Office Equipment and Supplies | $200 to $1,000 |
Advertising and Public Relations | $500 to $2,000 |
Professional, Legal, and Consulting Fees | $500 to $2,000 |
Recurring startup cost | |
Payroll (Up to Four Staff Members) | $1,500 to $3,500 |
Commercial Kitchen and Commissary Rent | $500 to $3,000 |
Monthly Credit Card Processing Fees | Around 3% of sales |
Fuel | $250 to $400 |
Insurance | $5,000 |
Permits and Licensing | $50 to $10,000, depending on location |
Total Estimated Costs | $40,000 to $200,000 |
