Many people who love to cook and travel think about running a food truck. While life on the road selling food to people can be a lot of fun, it also involves a lot of hard work, planning and creative thinking. Before opening a food truck, it is a good idea to obtain adequate funding, network with others in the industry and become familiar with basic maintenance tasks.
1. Obtain Funds
Investing in a truck that is the right size for the operation and is in good shape is a must. However, funds are also needed for food, supplies and equipment. While most new businesses are funded at least in part through bootstrapping methods, additional loans may be needed. Find a reputable lender to work with, because using the wrong lending institution can lead to future headaches and the need to employ a bank expert witness if disputes arise.
2. Network With Others
While it is possible to open a business without knowing anyone in the industry, it is not recommended. Networking with peers and finding a few mentors can be an excellent way to get a head start. They can provide information about good events to attend, where to park and which vendors offer the best discounts.
3. Learn Basic Maintenance
Snags occur in the daily operation of any business, and when the company spends all day on the road, that can mean the truck breaks down at inconvenient times. A basic knowledge of how to diagnose and repair certain issues can save the day in the food truck industry. This applies to the equipment and supplies used to prepare the food as well, as a broken refrigeration unit on a hot day can lead to expensive inventory loss.
Running a food truck can be a fantastic way to combine a love of cooking, meeting interesting new people and traveling around. As long as the owner is prepared to meet any challenges, they can have a fulfilling career running a food truck for decades.
Veeramachineni Lalitha
I am Finance Content Writer. I write Personal Finance, banking, investment, and insurance related content for top clients including Kotak Mahindra Bank, Edelweiss, ICICI BANK and IDFC FIRST Bank. My experience details : Linkedin