If you are thinking of starting your own food truck business, then you are in for what can be a very lucrative and rewarding career. However, understanding food truck cost within the context of justifying price requires some significant research. That said, this article is intended to help inspiring food truck business owners learn how to justify food truck cost by pointing out the various things buyers need to consider.
Is the Food Truck Cost Lower when You Buy Used?
A used food truck cost will always be cheaper up front, but this does not mean that it will save you more money in the long run. In 2018 more than 80 percent of new food truck businesses failed and more than 90 percent of those had one thing in common–the food trucks were bought used. A used food truck is never built for its buyer. Rather, it was made for its original owner. In order to turn a profit and continue year-over-year growth, you need a food truck that has the right platform, equipment, and specs to help you be successful right out the gate, and accommodate future growth goals down the road. This can’t be achieved with a food truck built around another owner’s business model. So when you think about food truck cost, keep in mind that the real value exists in buying a new, custom food truck that will facilitate your growth.
Food Truck Cost with Equipment
When thinking about food truck cost, if the price is higher than some other trucks you have looked at, but the equipment is new, then the value is there. The food truck cost is worth the higher sticker price if the equipment is top of the line and new. Your frier, griddle, oven, range, freezer, refrigeration system, and stove is what ultimately enables you to have a product you can serve. If you have used, poor quality equipment, not only can expensive costs go up, but you can be forced to go off the street for repairs thus sending your customers to the competition. Therefore a higher food truck cost is worth the investment when you get new, state of the art equipment because it will help you grow your business, expand your customer base, retain customers, and put our a superior product while being reliable.
Food Truck Design
When looking at cost, the food truck design should be included. This means the interior design and exterior design need to be customized to suit your business model and branding. In other words, the food truck cost can be justifiably higher if precision and thought is put into the interior layout and build, and the exterior paint job or vinyl design speaks to your customers, then the higher food truck cost is worth it because it will enable your greater efficiency while attracting more customers.