Coffee Break

How to Start a Food Truck Business

Food truck companies are thriving and there’s never been a better chance to enter the industry as an entrepreneur.

If you’re a food lover and you enjoy serving food to happy customers, you might have dreamed of entering the food and drinks industry. But if opening up a brick-and-mortar restaurant is not appealing to you, starting up your own food truck company might be the perfect alternative.

There is much more freedom in opening a portable food truck. You can specialize in a specific kind of food or serve a bit of everything to reach a wider audience.

Whether you want to serve pizza, burgers, fries, or specialty cuisines, there are a few key steps that you need to take when you want to open up a food truck. You’ll need to buy a truck and extra international truck parts in case any repairs are required on your vehicle.

You’ll need an extensive business plan with a budget breakdown and marketing strategy. Of course, you can’t forget about your menu too!

Here are some key steps to follow when setting up your food truck business.

Create a Business Plan

The first thing you need to do is create a plan for your new business. Consider the current food truck market. Are there any gaps that you could fill with your new company? What unique selling point can you focus on?

You also need to consider your cooking skills and preferences. What foods are you particularly good at cooking? Are there any meals on which you can add a unique spin?

Create a detailed business plan that includes the following:

  • Executive summary
  • Goals and mission statement
  • Company values
  • Finances, including your start-up costs and financial projections
  • Marketing strategy
  • Products and menu
  • Appendix

Determine Your Budget

Although you will have detailed some of your finances in the business plan, you’ll need to create a more detailed breakdown of your budget.

Setting up a food truck business is a relatively low-cost idea. It’s nowhere near as expensive as opening up a brick-and-mortar restaurant or cafe.

When you create your budget, consider all of the potential costs for your start-up, including the price of the truck, ingredients, marketing spending, and staff wages. Make sure to set aside a portion of your budget for contingency funds in case you run into unexpected costs.

Learn the Rules and Regulations

There are a lot of stringent rules around cooking and selling foods and drinks. You will need to be clued up on exactly which rules apply to your food truck business so that you aren’t breaking the law.

Health and safety always come first with food businesses. Before you can open up, you’ll need to acquire a certificate that states your right to handle food. There might be additional certifications and licenses required, depending on your area of work.

As a food truck business, you’ll also need a business permit, vehicle license, and seller’s permit. Every employee will need to be legally insured on the truck if they are driving it around.