Introduction to how to start a food truck business, investment, profit
In simple language, the food truck business can be referred to as ‘restaurant on wheels. It comes under a category of the mobile restaurant business in which feel comfortable and is convenient to go where you feel you have more clients. Your business is just not limited to one physical location- unlike the regular restaurants. The entire planning for a restaurant is operated on a truck or a similar vehicle. As it is moveable so you are permitted to travel to any end and park it and have a functional business. Moreover, it also encompasses fewer overhead costs and manpower. In the starting days, you must have to put in your hard work and strength to establish your brand and customer base. Now, let’s see how we can start a food truck business.
A guide on how to start a food truck business, investments, profit
Tips for food truck business
If you are thinking to begin your own food truck business, then there are some simple tips that you must keep in mind in the beginning.
Find the right food truck you need – This aspect depends on our affordability. You can buy and design a new vehicle or you can also remodel a second-hand one. In both circumstances, you must invest roughly the amount of capital in remodeling and purchasing.
Secure commissary – As it is a restaurant business, so it is essential for you to organize kitchen waste securely. You also should take care that the dirty water is drained properly. Apart from this, you must learn to sustain perfect hygiene thus finding a commissary is not so easy thing. You may have such recommendations from your friends or relatives.
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Show your creativity – This is a business that demands you to be more original to be successful. Design a delightful menu that is remarkable but simple. It must offer food items which many of the consumers prefer.
Select the right place to cater – It is essential to make a perfect choice of location for setting up your business daily. You may choose playgrounds, industrial zones, office zones, schools, residential areas, university campuses, etc. Apart from this you also have to choose the right time during the day to set up your business in any area. This usually depends on mainly the type of catering service you are proposing.
Network your customers – Being innovative is just not only limited to preparing food but also you also must be creative in approaching more consumers. You must emphasize current trends for promoting your services through social media, events, or personal groups.
Be polite – While operating any kind of business the vital aspect to success is being polite to your clients and others. You must keep in mind that anybody can become your customer so better to behave politely with all.
Local laws – As you are operating the food services on wheels so it is essential to follow all local guidelines of the traffic system. You must choose an area that is legit for running your business.
Important equipment and staff
It is understandable that you require many equipment and accessories to operate the business. Some of them can also be customized, but it is based on the kind of business you are providing.
First and most vital are the work tables that you have to set up inside the truck. You can choose from different sizes with foldable trays and racks.
You must invest money in hand wash and dish wash sinks which are meant for cleaning kitchen wares and other items. For any food truck, irrespective of what you prepare, you must keep a refrigerator unit. This unit could be single or double door type or even under the counter type.
Apart from this, there is a need for vital accessories for cooking, baking, grilling, and should purchase a microwave oven, fryers and smokers, grillers, and griddles, etc. as per the need.
The capital is also used to buy kitchen utensils, like spoons and knife sets along with disposable glass and plates for serving the food.
As the business is connected to cooking, you must hire a professional chef who can cook nicely. You also need a junior chef for performing duties like cutting, decoration, etc. Apart from that you must hire performing other duties and staff for cleaning and serving purposes.
License or permissions required for food truck business
You have to make sure that you are having all permissions and licenses. You must register for paying the tax amount to the government. So you need to apply for a Tax ID and your ID number.
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Next, you must reach out to the local authorities for the application for a business license. It means that you must apply for a legal restaurant business. You must apply for a local license and for health permits as well.
You must register your business for incorporation in case you are working on a partnership basis. It is essential for anyone to register this business entity legally.
As you may be appointing few employees so it is also mandatory to get employee’s requirement forms stating the designation and function of each employee you hired. To legally park the vehicle it is mandatory to have a legal permit from respective authorities. Otherwise, it is risky as you may not park your truck legally in public places.
Deciding the right place for food truck business
As per the local laws, it might not be possible for anyone to operate a business in most of the crowded places. Sometimes authorities will not allow you from doing business in public places and other places of gathering.
You must make the choice of a perfect location depending on legal factors and permissions. A business area, event halls, public spots, festival grounds, and other places where there seems good gathering of people could be the perfect location. Apart from this some tourist spots or places to visit could serve as best but even this requires the consent from local authorities before choosing. A place that is close to a college or a school building or university campus and office work zones could be considered better regions but during the daytime.
Marketing or advertising tips
In the majority of the cases, your business needs many marketing strategies but here the situation is different. This is because the banner on the truck is indirectly spreading your business name to the various places where you travel.
This is enhanced if you try and increase your network. So one of the ideal ways for marketing is the use of your social media sites like Facebook, Twitter, Linked In, etc.
You can also tweet/ post and notify the customers about the spot where you will be parking for any specific day. Along with that you can request your group and relatives and post some cherish-able photos of the recurring customers on your social media account.
Food truck business investment
You have to determine the capital depending on your budget and the savings that you are willing to invest. A new truck would approximately cost higher than the second-handed or a used one. A used truck will be around Rs. 1,30,000 to 2, 00,000 while a new truck could be at a price of Rs 65,00,000. Apart from this, you must invest money in buying additional accessories, equipment, fees on permits and licenses, etc. Some are spent on staff for salary and uniforms which is optional in case you are interested to keep your business as a professional one from the starting stages.
Food Truck Business Profit
You can expect over 50 to 60 percent profit since this is a kind of restaurant business but it also depends on your working factor. You may have to do much hard work, plan your daily schedule, and execute it well to yield healthy profits.
Food truck business risk
Similar to any other food business there are some risks included like hygiene, maintaining a good quality of food, and other facilities onboard. You must ensure to have a safe driver and must take care to use ovens and burners carefully, with all possible safety precautions and equipment that are available onboard your truck.
Currently, the food truck business is considered a trendy business as several people are investing money towards it because of the demand in the local market which is growing day by day. Your profits majorly depend on the food quality and the type of services you deliver to your customers.
Conclusion of starting a food truck business
The food business has excellent demand and one can start a food truck business with a proper plan for excellent profits.
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