With an increase in youth spending, middle-class spending, conscious consumerism, mobile lifestyle, and the need for takeout food, the food truck business has become all the rage worldwide.
The future of the food truck business looks bright, with its revenue growth projected at a rate of 3.7% over the next six years. If things work out this way, the industry total will rise to $ 1.7 billion, which is massive growth for a newly introduced industry. The food truck plays a vital role.
You won’t have to worry about dirty dishes or leftovers immediately after collection. The advantages of a food truck over a restaurant are mobility and speed. In addition to fact that the food truck operator and his employees will do practically all the work for you.
Like all other organizations, most of them require different sales factors to differentiate themselves from their competitors.
As a result, you will be able to find one that serves a variety of innovative foods in addition to the typical fare. These vehicles are often cheaper than traditional suppliers, as well as meeting a long list of dietary demands and making your life easier.
Food truck businesses have lower operating costs than catering companies, as they do not need to buy or rent kitchen equipment or space. As a result, the entry cost per unit is minimal, and the catering service is reasonable.
Here are the major benefits of food trucks over the restaurant. Have a look!
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Amount of People
A single-vehicle like this can serve up to 125 people per hour. Consider the number of clients and the service window to see if one is sufficient. For example, if you have 200 people and the deadline is 6 pm to 8 pm, a food truck can cater for your event.
If you’re feeding 300 people in two hours, simplifying the menu will make things easier for the food truck to accommodate everyone. This benefit of the food truck business
will save a lot of money!
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Many Options On the Menu
Another thing to think about is the variety of dishes serve to your visitors. Sushi, sandwiches, sliders, burgers, Asian, Mexican, Indian, pizza, and tacos are just a few of the options available from food trucks. Hardly anyone can resist any of those delicious dishes mentioned above.
One option you can do ahead of time is gather several different menus and distribute them via company email to see what your colleagues prefer.
That way, you’ll know what they like best and focus more on making that specific option as much as possible by food truck biasness. This is incredible?
- Minimum Terms of the Contract
Some of them establish minimums that must be met. These minimums can range from $ 700 to $ 1,300, depending on each event’s average food truck sales. If you have less than 60 visitors, it is very important to consider the minimum contract amount.
It may be worth renting one to a small business if the employer is willing to pay the balance shortly after the event ends or if the minimum contract is cheaper than the cost of hiring a regular supplier.
- Previous Experience
With the help of the food truck business, you will usually be able to handle a larger menu and more customers. You may also want to verify that the food truck has a permit for the city where the party is taking place, based on the exclusivity of your event.
However, suppose you have a small party at your workplace in a company parking lot. In that case, it is unlikely that you will come across code enforcement personnel.
In the event of a power outage or if it begins to fail before your event, the food truck you hire must have backup power supplies.
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They Have a Relatively Low Operating Cost
Owning a restaurant requires purchasing expensive utilities, hiring a diverse workforce of cashiers, cooks, waiters, janitors, managers, and paying property taxes if you own the facility or monthly rent if you are rented.
As a result, you must keep your operating costs low, especially hidden fees that may be wearing down your restaurant.
Vehicle operating expenses in the food truck business are limited to food, gasoline, and supplies. You don’t need a great team; a small group will suffice, and your taxes will be reducing significantly.
In a restaurant, repairs and maintenance can put a hole in your wallet.
There is no question that a brick-and-mortar property needs ongoing maintenance. Appliances, maintenance of furniture and other kitchen equipment, restaurant décor, leaky or flute ceilings, etc., consume time and money.
On the other hand, the food trucks business can survive with a few repairs and maintenance from time to time.
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Experiment with Your Location
Restaurants grow and shrink with their location, and food trucks can play with them. In the first year, more than 60% of new restaurants fail.
And more than 80% of them closed before the fifth year, two of the main factors being the poor location and exorbitant rents. So when choosing between a food truck and a restaurant, you must make an informed decision.
On the other hand, food truck business is resistant to this difficulty because they are mobile and you can select the location of the food truck. If your services don’t seem to be working well in one place, you can try another area to see if your marketing strategy can thrive there.
You can also change your position periodically based on the amount of foot traffic in certain regions. Remember to choose a location that is conveniently accessible (for vehicles) and has a lot of foot traffic.
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Low Initial Cost
A truck is consider a high-profit food truck business idea because it requires much less capital than a traditional restaurant.
This in itself would be a competitive benefit of operating a food truck over a traditional restaurant, as the money saved on setup can be spent on advertising or menu engineering. The only major expense is purchasing your truck, which can be avoid if you use the growing food truck leasing industry.
Next, you will need to equip your vehicle with the necessary equipment, such as grills, extractors, and any specialized equipment that your kitchen requires. On the highway, food trucks are a bargain.
Conclusion
As you can see, there are many reasons why you should consider starting a food truck business than the restaurant.
Whatever reason you need it, it’s good to know that you can always count on many companies to rent or sell one. It can be a wonderful experience because many people love them and can make great use of them.
So if you are already considering this option, no one can stand in your way. Good luck!
