People have to eat. Where depends on availability and tastiness. A food truck can bring in a lot of money for those who have the courage to invest. Vindicating the idea is easy. Launching the business is what requires strategy and effort. Here’s how to start your own meals on wheels campaign.
Buying the Truck
Buyers have several options. Check the local classifieds for opportunities to find an existing vehicle that meets demands or one that could easily be transformed to a food truck. Otherwise, you need to purchase a new truck or have an existing vehicle customized to fit your wishes. Leasing introduces yet another option. A lease-to-own vehicle allows an entrepreneur to see if the business is taking off before buying. Lastly, research franchise opportunities, for franchisees pay monthly fees to use existing trucks, equipment, and brand names.
Choosing a Point of Sales
Years ago, food truck vendors had little choice in accepting payment. Few had established credit card or point of sale systems, so food trucks operated on a cash-only basis. Such parameters limited the number of potential customers as well as made it dangerous to operate with cash in the truck. Today’s vendors have options ranging from full blown POS systems to credit card swipe devices that fit on a smartphone. While a comprehensive POS system opens doors of commerce, monthly fees are associated. Additional equipment, such as squeegees and wipes, is found at RS Components.
Following Ordinances and Zoning
A food truck business is dependent on location. A food truck can not roll up to whatever street and proceed to sell product to the public at any hour. There are zoning laws to abide by as well as local ordinances that dictate times and locations of commerce. Additionally, a startup owner needs to consider the level of competition; in a competitive area, such as a public park, it may be more difficult to fend for the appetites of customers versus a remote suburban business park void of competing vendors.
Consider Becoming a Franchisee
Some like the idea of being their own boss but don’t know a lot about running a business. A franchise opportunity is a good fit for such parties. A franchisee works independently yet serves as an extension of an existing brand. It requires the same level of work and effort, but some of the crucial elements like picking a location and providing a proven product, is already established. On the other hand, some don’t like the idea of ultimately having a boss and needing to share the profits with the franchisor.
Determine the Right Kind of Insurance
Insurance can be tricky depending on the size of the vehicle, number of workers, and whether the truck is mobile (also regularly used as a day-to-day vehicle). In some cases, owners will tow a trailer that is the business, which requires a separate kind of insurance then if the vehicle doubled as a driving and money making entity.