Did you know trucks depreciate between 15% and 25% annually and that trucks weighing approximately 13,000 pounds depreciate in 5-7 years? Knowing your food truck depreciates yearly and by what rate is a lifesaver in the mobile kitchen business.

This way, you can budget effectively, estimate future expenses, and get the most return from your food truck business. Read our comprehensive guide to learn how to calculate the depreciation of food trucks.

What to Consider When Calculating Food Truck Depreciation

Food truck depreciation is the gradual decrease in a mobile kitchen’s value over time due to obsolescence and wear and tear. Here’s what to consider when calculating food truck depreciation.

1. Purchase Cost

This is the original cost you incur when you purchase the food truck. It comprises the purchase price, taxes, and related expenses, e.g., delivery fees. 

2. Useful Life

This is the truck’s productive years when it generates maximum returns. It ranges between 5 and 7 years for trucks weighing approximately 13,000 pounds.

3. Salvage Value

Salvage value is the estimated truck’s value at the end of its useful life. It’s the amount you can sell the truck for or its scrap.

4. Depreciation Method

There are two primary depreciation methods–the straight-line and the accelerated methods. While the straight-line method equally distributes depreciation expenses over the useful life, accelerated methods allocate more depreciation in the first few years.

How to Calculate Truck Depreciation

The straight-line and the accelerated methods have pros and cons. The straight-line method is straightforward and the easiest way to calculate truck depreciation. The accelerated methods are complex and may require the input of an accountant. 

Here’s how to use the straight-line method: suppose your food truck has a $150,000 purchase price, 5-year useful life, and a $10,000 salvage value.

Step 1: Calculate the truck value depreciated every year

Subtract the salvage value from the initial cost, i.e., (($150,000 – $10,000) = $140,000)

Step 2: Calculate the annual depreciation expense

Divide the truck’s yearly depreciation value by the useful life to calculate the annual depreciation expense. That is, $140,000 divided by five years, which is $28,000.

Step 3: Calculate the monthly depreciation expense

Divide the annual depreciation expense by 12 months, i.e., ( $28,000/12) = $2,333.

Step 4: Create a yearly depreciation schedule

Here’s an example. 

Year 1:

• Depreciation Expense: $28,000
• Accumulated Depreciation: $28,000
• Book Value: $140,000 – $28,000 = $112,000

Year 2:

• Depreciation Expense: $28,000
• Accumulated Depreciation: $56,000 ($28,000 from Year 1 + $28,000 from Year 2)
• Book Value: $140,000 – $56,000 = $84,000

Year 3:

• Depreciation Expense: $28,000
• Accumulated Depreciation: $84,000 ($28,000 from Year 1 + $28,000 from Year 2 +  $28,000 from Year )
• Book Value: $140,000 – $84,000 = $56,000

Continue this process until the end of the food truck’s useful life.

Ready to Start Your Food Truck Business?

Are you ready to start your food truck business? We can help you find the best custom food trucks and to build a top-of-the-line food truck business. The best part? We also provide repairs and maintenance to help your truck last as long as possible. Contact us to learn more!

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To Begin: The Truck

There isn’t exactly a Kelly Blue Book of food trucks, so food truck valuation involves somewhat custom calculations. Start with the cost of only the food truck, whenever it was purchased, plus any costs of upgrades. Next, deduct its depreciated value.

This is done through the “amortization” process for calculating depreciation, done as follows:

1. Estimate the truck’s total usage period
2. Divide the truck’s original value, plus any upgrades, by the estimated usage period for the amount of depreciation per year
3. Multiply the annual depreciation amount (step 2) by the number of years the truck’s been used
4. Deduct the total depreciation amount (step 3) from the truck’s original value (including any upgrades)

What remains is the truck’s current value. The formula is:

(Original value + upgrades) – (# years used * [original value + upgrades] / # years expected))

For a $100,000 truck with no upgrades, a 10-year usage period, and about 3 years of use, the calculation would be $100,000 – (3 years * (100,000 / 10)), which puts the food truck’s current value at $70,000.

Next, apply the same process for the kitchen appliances and related equipment. The reason it’s done separately is that kitchen equipment and heavy trucks have different amortization periods – around 12 and 6 years, respectively.

Next: The Business

The food truck’s proven revenue-generating potential is an equally important factor in learning how to value a food truck business. There’s no one-size-fits-all calculation here, but generally, determine the following key performance indicators (KPIs) and other measures of success:

• Total or average sales figures
• Profit margin (selling price – inventory costs)
• Total revenue (sales and other income sources – operational expenses)
• Sponsorship deals (worth exact dollar amounts)

Also consider the less tangible factors that provide value to a food truck business, but either can’t be calculated or can only be roughly estimated. These include:

• Social media accounts and followings
• Transferrable permits and licenses
• Other value-adding contracts (e.g., vendor deals, premium siting during events, etc.)
• Sponsorships (without exact amounts)
• Any successful, ongoing promotional efforts

Beyond even estimated values, you’ll want to note any factors that significantly impact the food truck business’s value. This may include whether the truck is a staple at weekly events, less-frequent festivals with larger crowds, and so on. Whether the business caters to a specific niche of people is also an important consideration.

High-Value Food Truck Operator Support

At Legion Food Truck, we know how to pull every element together to make a successful, immediately valuable food truck business. From the truck build to the administrative work and even ongoing guidance, we’re committed to the success of our bold food truck entrepreneurs.

Still wondering how to value a food truck business and start making a profit? Contact us, and start with an already valuable food truck business from the get-go.

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Success and Failure Rates of Food Trucks and Restaurants

Food trucks are a culinary treat across the US Mobile kitchens are enticing due to their low overhead costs and low-pressure ways of implementing restaurant concepts. Approximately 40% of food trucks are still operational three years after opening and have a current annual revenue of $ 1.2 billion. Despite their financial success, 60% fail within the first three years due to failure to adhere to common business requirements like having a solid business plan.

On the other hand, most brick-and-mortar restaurants close during their first year, while around 10% have an average life span of five years. The failure of many restaurants in the first year is attributed to a lack of sufficient capital, given that you may need an average cost between $200,000 and $400,000 to open one. Food trucks are cheaper to start and have a better survival rate in the first operational years, although the average life of a restaurant with sufficient funding is longer.  

Reasons Why Food Trucks Fail and Tips on Avoiding the Problems

Old Truck

Buying an old truck is fatal for your food business aspirations. To avoid this problem, ensure your truck can be serviced easily before purchasing. Buy a tall truck to enable you to install upright equipment, and pick a truck that gives you at least five years of service.

Your Line Isn’t Optimal for Customers

You should think about how operational your line is before opening a food truck. Critical concerns like where your grill is located, spacing, and how efficiently your food will get plated should be addressed. To avert the issue, make sure your truck setup is right, including your cooking appliances and personnel space.

Similar Foods on Offer

Food truck businesses fail because they cook and serve the same foods in the same block. You should stand out and offer unique cuisine in order to beat the competition. Customers are tied to habits, and once word gets out that you’re serving something different, you’ll get traction in no time.

Reasons Why Restaurants Fail and Tips on Averting the Problems

Lack of Sufficient Operating Capital

Opening a restaurant is expensive, but so is running one. Restaurant owners spend the bulk of their capital to obtain prime spaces, forgetting to cater for the operational expenses after that. Ensure you keep track of all that you need to run a restaurant, including leasing costs, kitchen equipment, marketing, labor, and food costs. 

Poor Location

Location is critical for any restaurant owner. Many shops have failed because the locations they are situated in are inaccessible and unprofitable. In order to avoid this mistake, do thorough research for a prime restaurant location. Assess a location based on competitors, food traffic, clientele, ambiance, and accessibility.

Failure to Adapt

Restaurants, like any other business, should be able to adapt to the new class of consumers. Find innovative ways to operate without steering away from your vision. To be innovative, you should embrace technological trends, update your menu and maximize on online platforms.

Final Thoughts

Food trucks are becoming more popular due to their flexibility and low overhead costs, among other reasons. However, restaurants have been a mainstay across the US, and their track record is also solid. However, opening and operating a food truck is cheaper, and with careful management, it can be a very profitable business. If you’re thinking about starting a food truck business, Legion Food Trucks is here to ensure your venture is a success. At Legion, we build food trucks to fit the needs of every individual client. We also offer repair and maintenance services to keep your truck in check. Contact us today to learn more.

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Find High-Traffic Areas

Foot traffic refers to the number of people walking or traveling on foot in a particular area, such as a street, mall, or park. High foot traffic locations are perfect for food trucks because they provide a steady flow of potential customers. You can find foot traffic in places like downtowns, office complexes, tourist attractions, parks, and near colleges.

Once you locate an ideal area, park your truck so passersby can quickly see your menu. The time of the day is also another factor that determines foot traffic. For example, if your food truck has a breakfast menu, park near a busy office building early in the morning. 

Check Local Regulations

Each state or city has rules and regulations; breaking them can result in severe legal consequences. So, before parking your truck, research the local requirements and get the necessary licenses and permits for operating businesses in the area. For instance, some cities prohibit food trucks from parking on certain streets. Others may limit the hours you can park in a particular spot to avoid monopolizing the area. By understanding and complying with local regulations, you can avoid costly fines or legal issues. 

Think About Safety

The safety of your employees, customers, and vehicles should be a top priority when finding a food truck parking spot. Safety concerns can vary from protecting your business from theft to preventing accidents and injuries. A safe parking area for your truck must be well-lit and free from obstacles that could be hazardous to customers.

You don’t want to park the vehicle in a street that is too narrow or close to moving cars, making it difficult for customers to approach or exit your food truck. It also helps if you take measures to prevent theft and vandalism. This could include installing security cameras on your truck or investing in locking mechanisms and alarms to deter thieves. 

Consider Your Target Customers

Different areas attract different people; understanding your target demographic can help you find a perfect parking spot. This will not only boost your sales, but also help you build a loyal customer base. If your menu caters to families, consider parking near playgrounds and family-friendly recreational facilities. Conversely, in case you sell artisan coffee, find a location with many college students or professionals who prefer high-quality coffee. 

Get Your Dream Food Truck Today

As you plan to start your own food truck business, Legion Food Trucks can help you realize your dream. Our company specializes in building, designing, and outfitting food trucks with top-of-the-line equipment and amenities that can make your business stand out. We also offer a range of financing options to make it easier for you to kickstart your investment. Contact us today for more information about our Legion Food Truck services. 

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What Are Cloud Kitchens?

A cloud kitchen (also known as a ghost kitchen or a virtual kitchen), is a commercial space where restaurants, caterers, food truck operators, and others can rent out kitchen and storage space to prepare and store their food. You may already rent out a commercial kitchen, catering kitchen, or restaurant kitchen to prep your food. Most cities require food trucks to do so as part of their licensing requirements. But many food truck businesses, especially those just getting off the ground, may have found themselves in a less-than-ideal arrangement in a rental agreement with onerous rental fees, space that’s too small, or uneven facility access. Cloud Kitchens specialize in offering just the right size space that clients require depending on the size and scope of their meal prep and storage needs.

The cloud kitchen model is not limited to commercial property owners renting out space to multiple food service tenants. Some cloud kitchens even provide food preparation and delivery services to customers. During the pandemic, these services may prove life-saving to small businesses on the brink. If you’ve had to furlough nearly all or all of their employees yet still need to run your truck to pay the bills, you’re probably struggling to get everything that needs doing done. However, by taking advantage of a cloud kitchen’s meal prep services, you may be able to take a substantial load off your shoulders and manage to keep your truck open.

Some kitchens can take your menu, prepare your plates as consumers order online, then work with delivery partners like Uber Eats to distribute the food directly to them. This, too, can be a life-saving measure. Maybe your food truck was primarily stationed in a business district, and you’ve lost orders with your customers working from home. You can connect with past customers online and get their favorite dishes delivered right to their doorstep. And with a bit of online marketing savvy, you can even grow their customer base.

If your food truck is losing money, many cloud kitchens are set up to allow you to sell entirely online. In fact, some house multiple virtual-only restaurants that sell solely through delivery providers like DoorDash and Uber Eats. And some, like San Francisco-based CloudKitchens, allow you to establish carry out operations out of their kitchens. This model can be a good hedge against downturns, as Redwood Wagons food truck business owners Kyle Hood and Michael Laughlin have been learning. They’ve used their prep kitchen to establish a carryout location, which, coupled with delivery orders, are helping ends meet as their food truck business has shrunk over the past year.

Why a Cloud Kitchen May Make Sense for Your Business

Cloud kitchens can help food truck owners operate more efficiently in other ways as well. Kitchen managers handle various administrative functions necessary for you to work efficiently, safely, and in compliance with the law. They ensure that the proper health inspections occur, as required by state statutes, and ensure that the premises are secure. If you’re working in a restaurant when it’s closed, you may, unfortunately, find out one day that the owner doesn’t have all the paperwork in order or taxes or utilities paid. But because a cloud kitchen earns revenue, in large part, by providing multiple tenants a place to prep, cook, and prepare, completion of these administrative functions is a high priority.

Many cloud kitchens keep fees low through economies of scale. The more tenants they have, the more they can keep pricing affordable and offer additional services. Some cloud kitchens provide waste collection and janitorial services, among others, for an additional cost. That expense may be worth it if it helps you keep labor costs low. However, every bit of time and every penny saved are crucial to keep you in business during these lean times.

Custom Food Trucks With the Latest Technology

Cloud kitchens can also help you save time and money allowing you to expand your operation. By keeping margins low using a cloud kitchen’s meal preparation and delivery services, you may even be in the market to expand. If you’re looking to add to your line of food trucks, contact us today for more information on custom trucks for your business.

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Alternative Revenue Streams For Food Trucks

1. Blog Regularly for Your Food Truck Business

In 2020, marketers who blogged for their businesses received 13 times more ROI than those who didn’t blog or even blogged but it wasn’t on a consistent 2 to 4 times per month cadence. A successful food truck blog will attract new local customers to your business website and will strengthen the relationship you have with returning customers. Use your blog to set yourself apart from other food trucks by giving customers a sneak peek inside your business operations or share fun stories about your day-to-day adventures.

2. Harness the Power of Social Media

If you haven’t already, it’s time to get your food truck business on social media to get your name out there and to bring customers to your window. A successful food truck owner uses Twitter to alert followers about their location. 

Which Platforms for Your Food Truck Business?

Food trucks rely heavily on visuals to attract customers. Having an instagram page for your food truck business is a great way to engage with your customers by sharing pictures of menu items, responding to comments, and sharing your whereabouts so fans can find you.

TIkTok is another platform that is huge for food trucks. A recent survey revealed that 36% of TikTok users have visited a restaurant after seeing it advertised in the platform. If you’re looking to get started with social media marketing, these two platforms can be a great place to find your audience.

3. Distribute Your Signature Spice Blend

Do you have a special sauce or a signature spice blend? Perhaps your made-from-scratch sourdough bread or handmade pasta are local favorites. Consider distributing your unique product at a local shop to help generate more income for your business and to get your name out there in the community. If new customers buy your products and like them, they’ll be more likely to stop by your food truck for dinner — and they’ll probably tell their friends, too.

4. Partner With Local Businesses 

Consider partnering with other business owners in your community. Like they say, “two hands are better than one,” and we think the same goes for businesses. If you can find a good match, you’ll be able to mutually benefit from the partnership and your revenue will increase as well.

5. Cater at Exclusive Events

If you’ve made a name for yourself in the community, you can start advertising your catering services. Create packages for prospective clients and pitch your business to them. Consider events like weddings, birthday parties, and holiday gatherings. Challenge yourself to fill your schedule with catering events and your revenue will skyrocket.

A Few Extra Steps Can Go a Long Way

Your food truck business can be very successful if you take a few extra steps to diversify your income. These daily tasks will also help your business to run efficiently. If you’d like to learn more about creating your food truck, contact us here at Legion Food Trucks today.

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Embrace that perception through donations, volunteerism, event organizing, local sourcing, sponsorships, or other efforts. But don’t just think of it as a marketing strategy. Genuinely give back to help others, and you may be surprised by what happens next.

During the pandemic, some food truck businesses have been compelled to help out. Q’s Taco Truck recently made national news by partnering with the Pechanga Tribe to provide free meals to hundreds of frontline hospital staffers in Riverside County, California. Remix Kitchen in New York crowdsourced donations to feed frontline workers at Coney Island Hospital, Mt. Sinai Hospital, and Sloan Kettering Hospital. And multiple food trucks, all part of the Richmond Food Truck Association, served the homeless on Christmas Day, in Richmond, Virginia. These owners wanted to give back in part to show their appreciation for the support they received from the Richmond community during the pandemic.

Donating free meals is a fairly obvious way to give back. If you’ve been struggling, though, to keep your own head above water, you can follow the example of Remix Kitchen and crowdsource donations. Or you may be able to find a business or wealthy individual willing to partner with you to provide your meals to those in need. However, that’s not your only option.

Volunteerism

You and your staff can volunteer at local nonprofits that support causes you care about. You can also lend the name of your food truck business to those causes. For example, if you support a nonprofit that provides senior services, you can not only volunteer your time to help the seniors under their care. As a small business owner, you can also help them advocate for funding, legislation, and other resources they may need by adding your business name to a sign-on letter or calling a local lawmaker on their behalf.

Event Organizing

You can also organize events (incorporating your food truck, of course) for causes you care about or promotions you’re launching. You might roll out a new Christmas-themed menu by providing free Christmas cookies with every purchase and having a Santa near your truck with whom kids can take pictures. Or you might partner with a local food truck trade association for a press conference at your truck on the effects of the pandemic on the mobile food industry. The possibilities are limited only by your available time and imagination.

Local Sourcing

Buying from local producers is another way to strengthen your community ties. When you buy local, you have the opportunity to build new relationships in your community, who may return the favor by patronizing your truck, referring customers to you, or helping you locate other needed supplies at a discount. With small business food suppliers facing stiff competition from corporate giants like Sysco and Wal-Mart, local producers will likely be happy for your business, which can set the stage for a long, mutually beneficial relationship.

Sponsorships

Many of the community events we take for granted, from kids’ athletic leagues to street fairs, are mainly funded by community members. Small businesses are often provided the opportunity to support these kinds of activities through sponsorships. In exchange for a financial or other donation, businesses are provided one or more opportunities to promote their brands at the event. For example, if you sponsor a Little League team, you may be able to have your brand’s signage at your home field and even incorporated into their uniforms.

Getting involved in your community can significantly boost your standing, which can impact your bottom line. By engaging with your customers each day, your food truck business has already become a part of the fabric of your community. But giving back is not only a natural extension of that with positive marketing benefits. It’s good to do on its own merits.

Build Your Own Custom Food Truck

If you’re looking to expand your existing food truck business, or even build a new one, look no further than Legion Food Trucks for high-quality custom trucks for your business. Contact us today or click here to learn more information about your next food truck.

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Incorporating outdoor catering requires proper planning to ensure success. It also requires equipment, labor, and capital investments and the right location to serve your food. This blog will offer food truck owners the main tips for getting started with catering.

Learn the Zoning Ordinances and Acquire the Vital Permits

The last thing you wish for your new outdoor catering venture is to get slapped with a licensing or permit fee right off the bat. Make sure to do thorough research and identify catering business licenses and permits required at your city, county, and state levels. Typically, the restaurant and catering industry falls outside of federal regulations. 

Catering business licenses and permits may differ from state to state and by local ordinances in your city or county. This means that the location of your catering business plays a significant role in the type of business permits, licenses, and corresponding fees required to run. Also, it would be best if you never forgot to renew your permits, licenses, and insurance policies to avoid fines from the local authorities. 

Visit the Location of the Venue in Advance

Before planning your outdoor catering setup, it is essential first to visit the venue’s location to have a glimpse of the layout. This will help you decide on the essential equipment you will need. You will also be able to learn about other important site details, such as the terrain, power availability, and light levels. If you cannot visit the site before the event, contact the venue representatives and inquire about the above details or any other thing you need clarification for easy planning.

Finally, after getting familiar with the venue, it is essential to plan ahead for the logistics of transporting your food and equipment to the event location. When catering for large events, you may be required to hire a larger vehicle to transport your equipment. 

Acquire Outside Catering Equipment

When serving an outdoor event, there are specific essential catering equipment you will consistently use. Typically, the equipment depends on the outdoor event. Some of the vital equipment include:

• Table settings: Napkins, glassware, flatware, tablecloths, flatware, and dinnerware
• Disposable catering equipment: Aluminum foil, paper napkins, plastic cutlery, foil pans, and plastic drinkware
• Portable cooking equipment: Outdoor grills and portable gas ranges
• Liquid propane or natural gas for cooking
• Serving equipment: Serving trays, chafer fuel, serving utensils, tray stands, and chafers
• Furniture and seating: Tents, bars, benches, folding tables, and folding chairs

Customize Your Catering Menu

It is important to evaluate the type of food or menu items that you will be selling at the catering events. Some factors that can help you define your catering menu include the attendees’ demographic, the event’s size, and special dietary restrictions you may need to add. After customizing your menu, you can also develop a pricing strategy based on food costs, labor costs, overhead expenses, and the time needed to prepare the food. 

Expanding Your Food Truck Business

It is no secret that adding outside catering to your food truck business model enhances its growth and expands your revenue streams. At Legion Food Truck, we can design a food truck customized to your catering business needs and also help you acquire the required licenses and permits. Get in touch today to learn more!

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What are the different food truck laws California has?

Before you drive your truck to your preferred location for the first sale, ensure you have the following permits as stated by the food truck laws in California:

• The type of food you intend to serve must be state-approved. Your kitchen should also have enough space to prepare that type of food while maintaining safety.
• All permits and certifications need to be accessible at all times of business operation.
• You need to dispose of all trash in and around your track correctly and provide a trash container with signage instructing your clients to use it.
• Food trucks should obey all local traffic laws set like other vehicles, observing the road signs and paying the parking fees.

California Food Truck Permits You Need To Have

In order to legally operate a food truck, business owners in California will need to acquire the following permits:

Business License

You must have a business license and pay a set annual or percentage sales fee to operate legally in California. If you have staff working in your food truck, you will require an Employer Identification Number.  

Health permit

Provided you are working in the food industry, California laws require you and your staff to get inspected by the local health department to ensure that you are trained and equipped to handle food safely. 

Food Safety Certification

As a food truck owner or staff member in California, you must take the state-approved Food Safety Certification exam and pass it before you operate. You will receive a food handler’s permit, and you should always place it on display during the truck’s business hours. The law also considers it necessary for all food trucks to use ANSI-certified equipment for their commercial kitchens. 

Fire Certificate

The local fire department inspects and approves your cooking equipment in the food truck to ensure it is safe to operate.

Mobile Food Security Permit

They introduced this permit because of the high popularity gained by food trucks. It states the restricted hours of operation, packaging, specific location, and waste disposal to reduce pollution. The application process for this permit and its requirements may vary from one city to another. 

Seller/Reseller Permit

If you are selling your own made goods or products in California, you require a seller’s permit. However,  if you’re selling goods produced by somebody else, you need a reseller permit.

Legion Food Trucks Can Help With The Paperwork

Legion Food Trucks is more than a manufacturer. We set you up with everything you need to make your business legitimate – and that includes handling some of the paperwork. We can guarantee health department approval for each and every one of our trucks and will assist you in acquiring the necessary licenses and permits. Don’t hesitate to contact us with any questions or obstacles you are facing.

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1. Low Startup Costs

Compared to starting a restaurant, the startup costs for a food truck are very low. Of course, your biggest investment will be the truck itself, but this is the area you do NOT want to cut corners on in the attempt to save a buck. Several owners from well-known food trucks voice words of wisdom to people contemplating the food truck business when it comes to investing in a new truck. Ashley from Not as Famous Cookie Company advice is to get a truck that meets your needs. She advises people to consider their power needs and get a truck outfitted to meet the demands, otherwise, you could see some big losses.

Dan from OMG Cheesecakery said, “Although our food truck has a very nostalgic look (it’s a 1972 Cortez Motorhome), because of its age it comes with maintenance problems that can prevent the entire business from moving. We probably would have been better with a trailer rather than a truck”. Be sure to consult with a custom food truck builder so they can outfit you with exactly what you need that is new and free from hidden problems. After you get your truck all you need is your product inventory and the licensing and permits put in place (average of $1000).

2. Grounded in Culture

There is always money to be made and a buzz to spread when an industry is popular and grounded in culture. The food truck scene is not a trend; it has been steadily rising year-over-year while meeting the demand for “gourmet food on the go” and providing healthy alternatives to old-timey lunch truck burgers that park outside of construction sites.

With the rise in hipsters, foodies, and creatives the demand for food trucks the offer unique, healthy, and playful meals is very high and will continue to be. After all, television shows like ‘The Great Food Truck Race’ have helped further amp up the appeal of food trucks!

3. Passive Income Opportunity

One of the most attractive draws to the food truck business is that when you are ready to slow down in life, your business can keep pushing ahead full steam while padding your bank account. Many food truck business owners will transition to working part-time while hiring a manager to run the business on those down hours, and the profit margin is still extremely healthy. When you are ready to retire you can sell off half the business and let your partner run operations while you remain silent and collect a healthy chunk of the profits.

4. Freedom to Go to Your Customers

Restaurants rely on their customers to come to them. With a food truck, you can go to your customers. After collecting enough data you will know exactly who your main buyers are, where they like to hang out, and when they typically like to eat. If your main customers are the 25 to 35 concert-going crowd, you can follow your city’s concert schedule and park near each venue ready to serve hungry music fans before or after the show.

5. Call Your Own Hours

Not all of us have the ability to be away from home all day long to work a job. Whether you are taking classes, provide homecare for a loved one, or you have a second job on the side that occupies prime hours, being the boss of your own food truck means you are the shot caller. You can still work full-time hours in a food truck while only working those hours you want.

6. Become More Rooted in Your Community

If you decide to run your own food truck you will have an amazing opportunity to be more rooted in your community by helping to support local causes. If one of your neighborhoods has a women’s shelter you can advertise that 10% of all sales go towards funding that shelter.

7. Start a Family Business

Whether you start a food truck with one of your children, or you start with the intention to pass the business down to them when you are ready to retire, a food truck can be a beautiful family business to start up. Consider putting some of your grandmother’s recipes on the menu, or your grandfather’s favorite sandwich. Make your menu focused on your family’s food traditions while making your brand appealing to your customers.

8. Basic Inexpensive Ongoing Costs

Assuming you invest in a custom food truck with new equipment that is top of the line, your ongoing costs will be low and basic compared to typical restaurant operating costs. If your truck and it’s equipment (generator, grill, refrigeration system, etc) were bought new then you will only have to deal with routine yearly maintenance, routine engine maintenance, the cost of supplies, and licensing renewals.

Have You Ever Seen an Unhappy Food Truck Owner?

Of course not! When you have amazing earning potential, the freedoms that come with being your own boss, and you are someone your community gets excited about when they see you roll down their street, how can life offer anything but smiles? The food truck business is lucrative, in demand, and it allows you to meet new and interesting people every day.

Once you have your food truck and all the pieces are put in place, you are ready to roll. But there are a number of steps and decisions to make to help get you there. Download our FREE guide on how to succeed in business with your own food truck, and give Legion Food Trucks a call with any questions you might have. 

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