Is 2017 the year that you finally join the food truck industry?
If so, then that’s great! Making that decision is rather tough, but if you have planned out everything (you know, like making a great business plan, creating the recipes, knowing what meals you will make and everything else you have to have to succeed in this industry), then you should be more than ready to take on the life of a food truck owner.
For the purposes of this article, we are here to go over three ways future food truck owners can use startup capital to their advantage. So, were you thinking about buying everything on your own, such as the actual food truck, the equipment and all of the inventory, or were you looking for some help in that department? Whether the case, startup capital is here to help, and it could be the difference between you having enough money to become a mobile kitchen owner and you not having enough money to become a mobile kitchen owner.
Side note: You don’t want to take out money just because you can. You need a plan of attack in hopes of paying back the money, first and foremost.
RELATED: 5 Custom Concessions Articles That Will Do Mobile Kitchen Owners Wonders In 2017. If you are looking for some motivation to get the new year started on the right foot, then let this article be your guide.
3 Ways Future Food Truck Owners Can Use Startup Capital To Their Advantage
- Buying The Actual Food Truck
- Money For Other Things, Such As Hiring Employees And Marketing
- Having Money To Stay Afloat
If you are trying to break into the food truck industry, make sure to check out these food trucks for sale!
Buying The Actual Food Truck
Startup capital can, of course, help you buy the actual food truck as well as all of the food truck equipment you will need. If there is no way you can save up $75,000 or more (at least during this lifetime) but you have already created a solid business plan and planned out your entire food truck journey (you know what your food truck concept will be, what your plan of attack in the offseason is, etc.), then startup capital might be worth it, and it also might be your only option to start up a lunch truck business.
While a food truck tends to cost less money than a sit-down restaurant, which is probably one of the biggest reasons why you wanted to join this industry, a mobile kitchen is still not cheap. Startup capital (via funding, a loan, food truck financing) might be the only way you can afford to buy your office space, your food truck, which is why it could be essential for you, future food truck owner.
RELATED: Why 2017 Is The Perfect Year To Enter The Food Truck Industry. 2017 is a new year. Anything is possible. You might start the year off as an office employee and end it as a food truck owner — you never know. Nonetheless, 2017 is the perfect year to enter the food truck industry. Check out this article to find out why.
Money For Other Things, Such As Hiring Employees And Marketing
How can food truck owners use startup capital to their advantage? Simple. They can use the money for things that aren’t the food truck, equipment and inventory. You might already have that portion of your business covered, after all.
Before we break down these other things, it’s important to note that you will need money for things that aren’t the food truck, equipment and the actual food. If you don’t know that by now, then you likely aren’t ready to break into this industry.
Startup capital can help you hire — and pay, of course — a couple of employees. Employees are essential when it comes to a business, which means startup capital could be essential when it comes to making this dream come true, the dream that is owning a food truck. You might also need money for marketing, permits — you name it. You see, permits are pretty important in this industry. You can’t park wherever you want.
In terms of marketing, if you don’t market your truck (digital marketing is blowing up right now, and that will likely stay the case for a while), then how do you expect people to find out about your business?
Startup capital isn’t only for office space. It also could be used for, well, everything else.
RELATED: Helpful Tips For New Food Truck Owners. If you need some helpful tips when it comes to being a mobile catering owner, then, well, you came to the right place, and you should let this article be your guide.
Having Money To Stay Afloat
What else can startup capital be used for? Other than inventory, office space (the food truck), hiring more employees, marketing and things of that nature, startup capital can also be used to keep you and your company afloat. With that in mind, if you actually qualify for a loan, you cannot abuse it.
Just because that money is in your account, you can’t just spend it freely. It should be used for your business. You already know that, though.
Startup capital can come in handy if something happens to your truck, whether it be engine failure or a piece of equipment breaking. It could be used for inventory. It could be used for anything you need when it comes to starting up your business. This money will be used for the first year or so when you are first starting out.
If you have an amazing business plan, your food is delicious, you have a great location picked out, etc., but you need some money to make your dream happen, then startup capital could help. Use it to your advantage, future food truck owners.
If you are looking to break into this industry, make sure to request a custom quote!