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The biggest expense when setting up a food truck business is buying the food truck. And although the growth rate for new food trucks in the past 5 years is around 12.4% or over 4,000 food trucks now operating around the country, there are used food trucks being sold in the market. The question to answer then is whether to invest in a new truck or buy a used truck.
There are some people who believe in the superstition that buying second-hand or used items especially if it is connected to failure will mean trouble. If you think along these lines, you should buy a new food truck although it will cost you more and still give you a 50/50 chance of success or failure.
Other Factors That Should Be Considered
Superstition aside, there are other factors that must be considered when buying a truck. The first questions you should answer are:
- How much storage do you need? How much cooking will you be doing?
- Do you want gas or diesel?
- Where do you plan to sell because there may be parking restrictions on size and length of truck?
- Would you rather buy a food truck ready-to-use or buy a truck and customize it?
- Are you willing to consider leasing a food truck?
A ready-to-use food truck will mean that you have to make do with the lay-out and plan around it whereas a customized truck can be outfitted to suit your business plan. In addition, to order a custom-made food truck would take time to finish and this will delay the opening of your business. You are also taking a chance that the person you order the custom built food truck from is spot on with your instructions.
One way to decide on the truck to buy is to scout around at existing food trucks that are selling foods similar to what you have in mind. Many food truck owners are happy to discuss their business if you approach them properly and you could solicit excellent tips on buying your own truck.
Keep in mind that food trucks do not necessarily have to be trucks. You have other options like buying a minivan, cart on wheels, or a minibus. The idea is to tie down the food truck design to your business concept so it is attractive and a crowd-pleaser.