If you are ready to buy a food truck then you are about to enter a popular, energetic industry that continues to thrive year after year. However, running a successful food truck business is an entirely different matter. According to ‘Roaming Hunger’, more than 90 percent of food trucks fail within their first two years of business. Clearly, your goal is to be profitable, and when running a food truck business the right way, you are likely to join the national average earning potential well within the folds of six figures. The food truck company you partner with is everything to setting the stage for your success. That’s why this article is intended to help entrepreneurs learn how to buy a food truck that is successful right out the gate.
Buy a Food Truck from a Company that Designs a Food Truck to Meet Your Specific Needs
There is no such thing as a one-size-fits-all food truck, because no two businesses are alike, in any industry. You will need a food truck manufacturer that can build a food truck specific to your current needs, future growth goals, your customers, and your products. This means the platform must be the right size to comfortably house your current team in an efficient manner, but also accommodate a larger team as you grow.
In addition to ensuring the right floor space, when you go to buy a food truck you should also make sure it can accommodate the equipment you need to run your business today, and also offer room for additional food truck equipment as you grow. For example, let’s say you have a rotisserie chicken food truck that sells Mexican cuisine. You have a rotisserie that can cook 12 chickens at once, a refrigeration system, and a griddle to accommodate your ability to cook and serve burritos, tostadas and enchiladas. However, one of your growth goals is to expand the menu to a Mexican spin on fried chicken. You know that when you hit your revenue goal you will want to add a fryer, and therefore when you buy a food truck that space must be considered in the build.
Buy a Food Truck that’s New and Custom
We already talked about the importance of going custom when you buy a food truck, but make sure you start with a fresh build as opposed to buying a used food truck and trying to make minor modifications. Sure, this may sound attractive because the cost appears to be significantly lower. However, the reality is you are being put in a position where you will likely lose big bucks. We already mentioned how most food trucks fail in their first two years of business. The number one reason is that the food truck quality is poor and undergoes ongoing repairs. In addition to the cost of all these repairs, food truck businesses also lose money by being off the street and away from the customers. Not only are food trucks losing revenue from not being able to sell, their customers discover their competitors, and inventory spoils.
When you buy a food truck, invest in one that’s new and custom. Also, find a food truck company that’s reputable with an impressive portfolio, and one that builds according to your growth goals.