There are several downsides to owning your own business. If your clients don’t pay you, often you can’t afford to pay yourself. Overhead can be a major money pit, especially if you own a business that requires a lot of equipment and inventory. Payroll can also be a challenge- how do you know if you will make enough money this week to cover it? Conversely, having a small business with low overhead and no payroll can still be a challenge schedule-wise—if you’re a one owner business you are the one who has to be there every day. Fortunately there’s a new business model that is combining all the best parts of being your own boss while minimizing the risk of being a small business owner: the food truck.
Food trucks are a great way to test the concept of a restaurant without having to invest all that money into a brick and mortar space with tables, chairs, equipment, and a staff. Getting started with a food truck can cost less than $100,000, and the potential earnings range from $250,000 to $500,000 a year. The best part is that if you are in a bad location Monday, you can move to a new location for Tuesday. If your menu isn’t getting rave reviews, you can easily change it without having to retrain a ton of staff or reprint expensive menus. You can be a taco truck one week and a vegan truck the next.
Flexibility of location and menu aren’t the only potential upsides to owning a food truck. If you have a family and you can only work the lunch rush during the week while the kids are at school, that’s totally doable with a food truck. Try doing that with a restaurant and staying in business! If you can only work on the weekends that’s totally legit, too. Food trucks give you great flexibility while still having significant earning power.
Food trucks have become so popular that even chain restaurants are getting in on the action. Starbucks, Chick Fil-A, and White Castle have all tested the concept of a mobile food truck that can be taken to where the hungry crowds are. If you are looking for a way to break into the restaurant business but you don’t have a lot of capital to invest, food trucks may be the way to go. Learn more about the business of food trucks and how to get started with one from this infographic!