Pros And Cons Of Starting A Foodtrucks Business
Many talented and passionate cooks end up being chefs at local restaurants where their talent will go underappreciated. If you are one of those passionate cooks who want to own a restaurant but do not have enough investment this article is for you.
Food Trucks are a simple investment restaurant that you can own to make your dreams come true. So let us look into some pros and cons of owning a food truck business:
1. Start-Up Costs: The initial investment is really low. Food trucks are also a good investment to add on to your existing business if you are into catering. How can you reduce your cost and increase your income? First, you need to make a budget for yourself in order to avoid wastage. Also, always create a fresh and exciting menu which will make the customers keep coming back for more
2. Flexibility: You are your own boss. Owning a food truck gives you a very flexible job. It is your kitchen so all it needs is your rules. The few advantages of being your own boss include the fact that you can come up with a new menu on the spot as you do not have to discuss and get permission for it. You can also be as creative as you want with your menu and needless to mention, all the profit you make belongs to you.
3. Maneuverability: This is one of the best features of owning a food truck. You own a food truck which means you can drive to any place you want to as long as you have a permit. Why is mobility a great feature for food on wheels? You do not have to worry about lifting heavy equipment if you have to go someplace else. You can also visit different events and you find it easier toy travel from one site to another on the same day.
4. More Customers: Food truck always attracts more customers than restaurants. You can own a themed food truck or a fast food serving food truck. Either way, customer inflow will be considerably more. If you happen to be always parked at the same place you will have a lot of loyal customers. Also, you will find tourist and travelers who will love trying a cuisine that tastes different from their usual style. You can also take advantage of people looking for quick bites.
1. Rules and Regulations: This is the major hassle of owning a food truck. You must get a lot of permits and follow health code regulations. Getting these permits is a Herculean task. To add to this, different states have a different set of rules. If you do not follow the regulations, your license can be canceled.
Few of the common permits you must own are:
a. Permits to park your vehicle, at a certain place, for a certain time.
b. Employee permits.
c. A local health department’s permits.
2. Limited Space: The food truck has very less space especially when you add the equipment, you have limited space to move around. This will be a major turn down if your business is booming and you need few extra hands to help you out in the kitchen. You find it difficult to increase your staff or have a lot of stock in the vehicle.
Some other factors you need to consider while planning to start a food truck business are:
1. Paying taxes on time: If you were working under a boss you did not have to worry about paying your tax since it was your employer’s responsibility. But a food truck is a self-employed business hence you need to remember to file your taxes accurately on time.
2. Familiarizing yourself: Since food trucks are compact a lot of kitchen equipment will be different from what you are used to. So ensure to familiarize yourself with the kitchen and the equipment.
3. Planning:You must plan your menu in advance since you need to stock up the necessary food items. It does not look good when you run out of or miss out on particular ingredients while serving the customer.
Starting a business always has its own risks and ups and downs. If you have capital, a plan, confidence and a passion that will drive you, then go ahead and start your food truck business.