Money Matters
Looking to purchase a new food truck or expand your existing mobile empire? These sections were designed to help everyone from the novice to food truck veteran in the areas of money matters.
Accounting
401+ Finance Team Name Ideas for Competitive Number Crunchers
The best way to instill unity and camaraderie in the work place is to get everyone to feel like they’re one big family. It makes a huge difference when a member knows they have a [...]
Selecting An Inventory Accounting System For Your Truck
One accounting decision that food trucks that maintain a food inventory is which inventory accounting system to use to record the cost of goods sold expense, which is the sum of the costs of the [...]
How To Keep Accounting Records For Your Food Truck
Even if you single one or two person food truck, you will need to keep accounting records in order to file and pay taxes, and understand the financial workings of your mobile food business. Some [...]
How To Avoid Common Food Truck Financial Mistakes
If you are a food truck owner determined to keep your truck service window open, you've got to have your eye on each and every issue that could potentially stall your mobile food business. That [...]
5 Financial Red Flags: How To Keep Your Food Truck Afloat
As all food truck veterans already know, this is an industry that is very unforgiving. This includes when it comes to achieving bottom line profits. Not only is there little room for financial management missteps, [...]
Finding The Best Food Truck Accounting Software
Ask vendors why they opened their food truck business and most will explain their love of food and desire to serve the general public. Few will bring up finance or accounting. Yet every food truck [...]
How To Set Up Your Food Truck Payroll System
Running a food truck is a business model that usually requires more than one person. As a food truck owner, it will become quickly evident that you cannot run your mobile business on your own. [...]
Food Truck Financials: Keep Control Before You Spinout
Food truck vendors tend to excel in the areas of cooking, menu creativity, and customer interaction. But many don't have to firm grasp of the business side of the food truck industry. Unfortunately, this lack [...]
Determining Your Food Truck Sales
In a mobile food business, food truck sales are what will determine if you are able to make it through your first year of operation. Projecting your future food truck sales is a critical step [...]
5 Areas To Include In Your Food Truck Budgeting
When you begin planning for the start of a food truck business, you need to understand the various expenses you’ll need to plan for. Even if you have previous experience in the food service industry, [...]
Crowdfunding
6 Crucial Steps To Crowdfunding Your Food Truck
While not as expensive as restaurants, food trucks are some of the most capital-intensive businesses to start. Build-out and equipment costs, starting inventory, licenses, fees and working capital can easily add up to over a [...]
7 Characteristics Of Successful Crowdfunding Campaigns
Crowdfunding for food truck startups is quickly becoming a safe, low cost method for culinary entrepreneurs to enter the world of mobile food. So how does someone fund their campaign through sites such as Kickstarter or [...]
Must Follow Tips For Crowdfunding Your Food Truck
While food trucks aren't as capital intensive as restaurants, it isn't cheap to open a mobile food business. Truck build out and equipment costs, starting inventory, licenses, fees and working capital can easily add up [...]
Food Truck Crowdfunding Campaigns – August 26, 2016
Funding a food truck project is hard work. For new culinary entrepreneurs it can be very difficult to get funding through traditional sources. A way some vendors have been able to hit the street is [...]
Food Truck Crowdfunding Campaigns – August 19, 2016
Funding a food truck project is hard work. For new culinary entrepreneurs it can be very difficult to get funding through traditional sources. A way some vendors have been able to hit the street is [...]
Food Truck Crowdfunding Campaigns – August 12, 2016
Funding a food truck project is hard work. For new culinary entrepreneurs it can be very difficult to get funding through traditional sources. A way some vendors have been able to hit the street is [...]
Food Truck Crowdfunding Campaigns – August 5, 2016
Funding a food truck project is hard work. For new culinary entrepreneurs it can be very difficult to get funding through traditional sources. A way some vendors have been able to hit the street is [...]
Food Truck Crowdfunding 101
Once an unknown financing option for culinary entrepreneurs, food truck crowdfunding has quickly evolved into a fast, effective way to raise cash for just about any mobile food industry project. Crowdfunding’s growing popularity is good [...]
Food Truck Crowdfunding Campaigns – July 22, 2016
Funding a food truck project is hard work. For new culinary entrepreneurs it can be very difficult to get funding through traditional sources. A way some vendors have been able to hit the street is [...]
Food Truck Crowdfunding Campaigns – June 10, 2016
Funding a food truck project is hard work. For new culinary entrepreneurs it can be very difficult to get funding through traditional sources. A way some vendors have been able to hit the street is [...]
Financing
Credit Card Financing Your Food Truck Business
Are you one of the many food truck vendors financing or planning to finance your food truck startup with credit cards? Today we’ll examine credit card financing of a food truck business and discuss its [...]
Revenue Based Financing For Food Truck Growth
For food truck owners trying to expand their mobile food business, capital is a necessity. It's difficult to grow without funds to invest back into your business. But what happens if you're denied a bank [...]
Food Truck Loans: Why The Difficulty In Getting One
Only one third of small business owners (including prospective food truck owners) were able to obtain all of the credit that their businesses need, a recent National Federation of Independent Business (NFIB) survey shows. The survey’s finding [...]
Start-Up Capital For Your Food Truck
When starting up a new mobile food business, one of the first areas most prospective vendors get discouraged by is how they will come up with the money they will need to get their rolling [...]
Late Food Truck Loan Payments? Learn How To Avoid Repossession
For most mobile food vendors, their largest operating expense is their food truck. While some vendors are lucky enough to have had cash set aside to open their business, the vast majority look at financing [...]
Fix Your Credit Before Applying For A Food Truck Loan
If you're planning to start your own food truck business, you want to check and fix your credit report before applying for a small business loan. Outside of your business plan, your credit report is the key document [...]
Don’t Allow Personal Bankruptcy To Stop You From Opening A Food Truck
Personal bankruptcy is designed to give people a fresh start. This process halts collection activity, pending lawsuits, and relieves people of unsustainable debts. If you’re looking to start a food truck business, the promise of [...]
Repair Your Credit Score Now With These Simple Tips
Has your poor credit score been holding you back from getting a food truck loan? These days, many people looking to enter the food truck industry have had tough financial challenges that have killed their [...]
Getting A Business Loan To Start Your Food Truck Business
When starting up a new mobile food business, one of the first areas most prospective vendors get discouraged by is how they will come up with the money they will need to get their rolling [...]
What You Need To Know When Financing Your Food Truck
When veteran Don McPeck and his son Jake, a chef, won Food Network’s two-day completion for their riff on mess hall themed cuisine, they won a one-year lease on a custom-built food truck, and the [...]
Taxes
Understanding How FUTA Affects Your Food Truck
Food truck owners must pay federal and state unemployment taxes in order to fund the unemployment tax system. Unemployment compensation is designed to pay benefits to workers when they lose their jobs through no fault of [...]
Food Truck Tax Basics
Food truck tax filing obligations to the Federal government. The dates that food truck taxes are due are typically based on the legal structure (we’ll cover the two most used in the mobile food industry) [...]
Filing For A Food Truck Tax Return
It's tax day again and as many of you know, completing and filing a small business tax return for your food truck business is different than completing and filing for your personal tax return. Three [...]
2020 Standard Mileage Rates For Food Trucks
The Internal Revenue Service has issued their 2020 standard mileage rates. Used these rates to calculate the deductible costs of operating your food truck. As of Jan. 1, 2020, these 2020 standard mileage rates are [...]
Tax Tips For Food Truck Vendors Operating As A Sole Proprietor
As a food truck that operates as a sole proprietor, you are in charge of your own business. As far as the tax code is concerned, you and your business are a single entity. While [...]
2019 Standard Mileage Rates For Food Trucks
The Internal Revenue Service has issued their 2019 standard mileage rates. Used these rates to calculate the deductible costs of operating your food truck. As of Jan. 1, 2019, these 2019 standard mileage rates are for the use [...]
Tax Tips For Students With A Summer Job In The Food Truck Industry
Are you a student who is earning extra cash in a food truck this summer? As the economy picks up, young people 18 and older are finding work in a variety of roles in the [...]
6 Food Truck Tax Tips Your CPA May Have Missed
The US tax code is something even the legislators who write it don’t fully understand, so it’s no wonder that even CPAs can neglect to advise you of all of the write-offs you have available [...]
2018 Standard Mileage Rates For Food Trucks
The Internal Revenue Service has issued their 2018 standard mileage rates used to calculate the deductible costs of operating your food truck or other vehicles for your food truck business. As of Jan. 1, 2018, the 2018 standard [...]
How Trump Tax Bill Will Affect Your Food Truck Business
The final version of the Trump tax bill seems to be hours away from being signed into law. Developed as a combination recent House and Senate tax bills, this plan combines both versions into an overhaul tax reform bill. [...]