Are You Ready to Start a Food Truck Business?
Before you run out and quit your day job to jump into the mobile food industry, take a moment to think about this major decision. While becoming a mobile food vendor is an exciting endeavor, it’s just not for everyone.
Remember that this culinary adventure should be looked at as a long-term lifestyle change and commitment. You will pour blood, sweat, tears, and money into your food truck business, and if it doesn’t work out, you won’t be able to recoup that investment.
Here are a few reasons why starting a food truck may not be right for you:
Passion Without a Plan. While passion is requirement for a successful food truck business, it’s simply not enough. You also need to determine how you’ll make money and grow your business. If the idea of developing a business plan bores you or stresses you out, it might not be a good fit.
Not Enough Passion. Looking back at our first point; you have to be passionate and excited about starting a food truck business. You should be able to see yourself building your mobile food business for years to come. You need to be willing to do whatever it takes (work 80 hours a week, see your family less) to realize your dreams of food truck ownership. If you’re not, then it’s just not worth the pain of starting a food truck business to find that out.
Short on Money. Starting a food truck is not going to get you rich quick. It can take months before you turn a profit, and in the meantime, you’ll need enough cash to pay your daily personal and business expenses.
Big Changes. Maybe you just got married, or had a baby. If you’re in a transitional stage in your life, starting a mobile food business will add to the already high levels of stress you’re experiencing. Starting your food truck should probably be put on hold until things slow down.
You Just Want to be the Boss. If the appeal of not having an overbearing boss to answer to is your driver for starting a food truck business, consider this: your customers will be your new bosses. They’ll dictate much to what you do and how you do it. If they don’t like your menu, they won’t buy it.
You’re the Breadwinner. Shifting from one salary to support your family to an erratic, mobile food vendor’s paycheck is one many families can’t handle. If your family finances will suffer if you quit your current job, wait until you have six to twelve months of living expenses in the bank.
No Experience. Although you’ve worked in a white collar job for years, you’ve dreamed of opening a cupcake truck. If you’ve got mad baking skills, that might help you survive, but if you have no experience in, finding locations to park a truck, buying baking supplies, and managing staff, you may find yourself struggling.
You Want to do What you Love. Why would this be a reason to not start a food truck? Unfortunately, few people do that thing they love 40 hours a week. In the previous example, you may find that, while you really enjoy the baking portion of the work, you’re actually doing very little of that in between the administrative tasks a food truck owner is responsible for. You’ll be busy creating employee schedules, making deposits at the bank, keeping up on social media and dealing with your suppliers. Someone else may have to handle the baking.
Knowledge of the Business Side of Things. While you don’t need an MBA to be a food truck operator, it helps to have a basic understanding of marketing, accounting, management and finance. You can take continuing education courses at your local community college, read books and websites (hint: mobile-cuisine.com), or simply teach yourself