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8 Key Steps to Start A Successful Food Truck Business

What comes to your mind when you think of a food truck? Well, we’re sure you’re probably imagining a beat down truck selling not so appealing food items. Food trucks are really misjudged. However, they make for a great business venture.

We don’t know exactly why though. Maybe it’s the way people connect to the food made in these trucks or the cute mobile system of it all. So, if you’re looking to find out what it takes to create a successful food truck business, keep reading.

1- Pre-Costs

When thinking of starting a food truck business, you must consider all the prior costs. For example, getting a license, buying a vehicle, buying props, etc. These fall into the one-time cost category. Whereas, there might be some continuous costs that you may have to pay overtime. Finance equipment, fuel and rentals are examples of these. You might also want to consider factors like insurance and storing food supplies.

After all, owning a food truck isn’t as easy as it seems. Overall, remember to think about all the prior costs and bills before moving to the next step. Speaking of equipment, Oven Shopper has everything you need.

2- Get A Legal License

As we mentioned before, owning a food truck isn’t as easy as just having a lemonade stand. There are some legal requirements that you need to have in order to proceed with the business. You’ll need food licenses, parking permits as well as a health permit. Although these vary widely in different cities and countries, it’s still something to consider. No country allows free set up of truck businesses. It is what it is. Just don’t dare to set a food truck up without a permit. It’ll just put you behind bars.

3- Get A Vehicle

To start a food truck business, you’ll obviously need a truck! Now, if you’re someone who’s on a prior small budget, you might want to consider a food truck. This way you can always upgrade later and start small instead. Food carts are cheaper in comparison to trucks and are great for beginners. The reason food trucks are so expensive in most places is because of the quality that the authorities want to offer. You can’t just start a business with a wrecked and cheap vehicle in tow.

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4- Find Your Food Area

No one starts a restaurant not knowing what exactly they want to sell. The food dream always starts with a food ignition. So, you in order to proceed in your food truck journey, you must find your niche. Don’t just find it though, own it!

Imagine yourself as the creator of a particular dish or type of cuisine. Food trucks in the old days were known to sell greasy, cold and not so amusing meals. However, the game has changed. Food trucks are competing with restaurants to produce and delicious food that can even be gourmet!

5- Create A Plan

After finding your niche, you must now focus on creating an execution plan. This is after all; a business and you must have a plan for its success. You can even do this after you’ve settled your finances and the loan has been accepted. Other costs like permits must also be considered. Also, figure out your monthly goal. This goal must determine how much exactly you’ll need to sell to earn profit each month or so.

Related Reading:

Startup’s Guide to Write a Business Plan

6- Money, Money, Money

After creating a plan for your business, another plan is needed. This is the financial plan. Starting a business is anything but free of cost and you must balance your options. Narrow down how much exactly you’ll need to spend. After you have done this, you need to choose whether you are comfortable taking a loan or pitching in money yourself. Another option would be to borrow from friends and family.

7- Connect to The World

Contacts are important in almost every industry. You might think that in the food truck business, owners would just have to park in a crowded area to get profit. However, this is not the case. Cater to other clients as well. You could also generate some contacts by being hired to cater meals for a corporate or entertainment event. If you don’t have any contacts in the industry yet, we suggest you get started on collecting them.

8- Social Media

We’re saving the best step for last. Nowadays, successful businesses expand, grow, and connect all via social media networks. Their profiles attract thousands of visitors every day. How? By posting pictures, updates on their business and of course, interacting with their clients. If you are someone who’s looking to start a food truck business, you must follow this example. Since social media is an important factor today, make the most of it.

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