Food truck businesses are extremely popular, and their popularity is only growing. According to multiple data sources, the food truck industry is one of the largest growing small businesses garnering owners a gross average of $300K per year.
It goes without saying that entrepreneurs have some standard, similar goals: make money, make a difference, and have fun doing it. The food truck business is ideal for people who have these goals because the start-up costs are significantly smaller than those required to start a brick and mortar restaurant, and there is less red tape to navigate with legal and licensing. In fact, your biggest expense will be the food truck itself. After this, all you need are supplies and the cost of licensing and permits, which are low. Just be sure to invest in a new custom food truck build or refurbishment, otherwise you may run into some costly repairs that halt your ability to make money while racking up thousands in mechanical fees. New food truck refurbishments or builds ensure you have a high-quality platform for running your business with only routine maintenance required. Therefore, putting a little more up front will actually save you more money in the long run.
Food Trucks Are Ideal for Retirees
Some of the most successful food trucks from the Bay Area in California to Miami are owned and operated by retired people. This is an ideal business model for retired people because it offers them flexibility to work when they want to, allowing time for vacations and family activities. Some of the most popular food trucks run by seniors offer old family recipes that offer a little taste of love and warmth in every bite. This is the type of home-cooking that most members of younger generations missed growing up with.
College Students Can Pay Off Their Tuition With A Food Truck
One of the largest food truck consumer groups are college students. Think about it: college students have schedules that are all over the place, and if they try to maintain a social life in between studying, their eating habits become sporadic. If you are a college student who came into some money and you are looking for a good investment, why not start a food truck business and serve this huge buyer group you live with? You can set up shop on evenings and study for your political science exam in between serving up bowls of your famous ramen to famished students at 10PM. Just make sure you look into permitting regulations.
Start a Family Business Food Truck
Do you come from a beautiful culture with amazing cuisine that you and relatives cook at home? Why not pool in your resources and invest in a food truck for a family business? This way you can share the amazing tastes that come from your culture with others in your city. Food trucks are great for family businesses because when you are ready to retire you can easily pass the truck down to your children to continue your proud tradition.