If you are about to start researching food truck cost data, then you have likely already committed to the idea that the food truck business is your ideal fit. And you are not alone. In 2018 the average food truck business generated $300,000. Clearly, there is money to be made. But whether your goal is to make a six-figure salary, have a fun, creative outlet, be your own boss, or provide a service to your community, food truck cost will play heavily into your startup.
This article is intended to help family businesses, entrepreneurs and first-time food truck buyers learn how to pay a fair price for a food truck, and what it means to pay a good competitive food truck price. More so, this article will help people understand what truly matters when considering food truck cost.
Justifying Food Truck Cost Should be Goal Oriented
You would never pay for a pair of jeans that don’t fit, or for a speaker system that produces poor-quality sound. Nor should you buy a food truck that isn’t designed to help you achieve your growth goals or provide a specific level of service you want your customers to experience. Keep in mind that your ability to produce your menu items at a set volume with a specific level of quality equates to the food truck equipment you have and your work-space. In other words, if your goal is to sell gourmet burgers downtown during the busy lunch hour and you want to be known for providing fast service and high-quality burgers, you will need a griddle with ample space, and a food truck platform with enough room for the necessary equipment and movable space that can host a team of three or four people.
So what does this mean for your cost-saving considerations in buying a food truck? It’s simple: would you rather pay $40,000 for a food truck that accommodates a team of two and a smaller griddle capable of accommodating customer traffic typically seen in the suburbs, or pay $75,000 for a food truck customized to help you grow your business based on your target buyers, menu items, growth goals and team? When it comes to assessing food truck cost, your needs must always be met otherwise there is no fit, regardless of the sticker price.
Avoid Falling Prey to Food Truck Cost Illusions
Unfortunately, people fall prey to the illusion that a low-price sticker means they are getting a better deal on buying a food truck. We already touched on this, but the value in food truck cost is not the price, but rather what you get for the price. You can buy a used food truck and rebrand it, but you are still running your business from a platform that was meant to serve someone else’s business model and not yours.
The idea is to buy a custom food truck that has the right, high-quality equipment and space to meet your current needs and future needs according to your growth goals. Working from a food truck that doesn’t fit your needs can lead to food spoilage, poor efficiency, and poor customer service, among a number of other snags. Your best option for buying a food truck that offers amazing value is to seek a partnership with a high quality food truck company that can build your ideal vehicle using state of the art equipment with a competitive, fair price.