Like any core component to a business, being able to justify cost is critical to ensuring profitability. And the same holds true when it comes to food truck cost.
Running a food truck business is exciting, lucrative, and highly rewarding. That is if the food truck company gives you a food truck designed to accommodate your growth, and this is where understanding food truck cost comes to play. Basically, you need to invest in a builder that focuses on food truck cost with a profitable return, but this also means you as a consumer needs to know what to look for. This article will help point you in the right direction for learning how to justify food truck cost so you can make an educated purchasing decision for your business.
Buy a Food Truck that’s New or Used?
The first question you will likely ask yourself that feeds right into food truck cost is this: should I buy a food truck that’s new and custom, or one that’s used in order to save money?
First of all, we need to decide if a used food truck really saves you money. While the average food truck grossed more than $300K last year, more than 80 percent of new food trucks failed in their first two years of business. These failures all had one thing in common: the majority of them bought a used food truck.
Keep in mind that your growth goals are solely yours, and all other food truck businesses will have their own goals they need to hit to see growth. That said, every serious food truck business should have a platform that’s customized to their business model, growth goals, customers, and menu. A new, custom food truck will not only accommodate your current needs, but it will allow you to grow into the space without going too big, based on your future goals. In other words, if you plan to double your team, add a broiler and an oven, and expand your menu by half its size, you will need a food truck that has the space to allow you to be efficient and growth-driven.
This is why the food truck cost is actually higher on used models despite the lower upfront cost, because in the long run a used truck will hemorrhage money, slow your growth, and cause chaos simply because it was designed for another business and not your own. That said, the better value is in a food truck cost that has a higher upfront investment cost, but that is designed to actually grow your business and make you highly profitable.
Food Truck Cost and Design
Once you have decided that a new, custom food truck cost is worth investing in, you will want to make sure the design specs are included. This means the floorplan, stainless steel interior, equipment, and exterior design are all included in the cost without any surprise add-ons. The food truck company you partner with should be direct and upfront, giving you a food truck cost quote that covers everything in fine detail.