Buying a food truck is the biggest investment you will likely make for your business. This means the food truck cost needs to justify your needs and goals. But this is a tricky task and involves a lot of research and even some inside knowledge into the food truck business. The best builders help clients understand food truck cost form an investment perspective, and help their customers make educated decisions that will help them be profitable. This article is intended to help entrepreneurs learn how to justify food cost so they can protect their investment.
Food Truck Cost: New VS Used
Unfortunately, many business owners buy a food truck that’s used because the upfront cost is significantly lower. This means they are under the illusion they are getting a great deal. However, in the last two years more than 80 percent of new food truck businesses failed. The top commonality they all shared was this: the food trucks were used. The problem with a used food truck is that you are operating from a design that was intended for another business. Would you buy a pair of shoes that were too big or too small just because they are less expensive than the right size? Of course not. Nor should you when you buy a food truck.
When you justify food truck cost, you need to ask yourself if the platform is the right size and layout to help you achieve your immediate goals, and long-term goals. Going too big can cause you to bleed revenue, and going too small can create costly growing pains as well as an inability to serve your customers. When custom food trucks are built new by a high-quality fabricator, you know the food truck cost is justifiable because it is designed to help you grow, and some some other business that failed in the past.
Equipment and Food Truck Cost Go Hand-in-Hand
One major component to food truck cost comes down to equipment. Ideally, your food truck builder should offer top-of-the line, new equipment like griddles, fryers, ranges, freezers, stoves and more. One easy way to justify food truck cost is to look at the quality of the equipment meaning the brand, warranty, and materials. Most builders will even be able to get you a good deal on equipment when you invest in custom food trucks.
Exterior and Interior Food Truck Design
Clearly, the food truck cost will be more if the interior is stainless steel as opposed to plastics and porous materials, and if the truck has a nice exterior design. You do not want to cut corners here! Stainless steel is easy to clean, hygienic, mold resistant, and durable. When food trucks have plastic or fiberglass prep spaces, food debris and moisture can get trapped in crevices and create mold. This means food truck cost will be justifiably more if high-grade materials are used–materials that will provide safe, profitable prep areas that are well worth the investment.