The simple answer to this question is YES. It’s a great way to build a brand and make money. The food truck industry is exploding because it’s cheap, quick, fun to build your dream, and still profitable.
“How much money a food truck makes in a day” is a difficult question to answer. There are plenty of variables that go into the amount a food truck will make. The first is the location of the food truck. In an area with high traffic, a food truck can make a lot more money than a food truck in a low traffic area. The second is the quality of the food truck. If a truck is making great food, customers will return. The third is the price of the food. Cheaper food means more people will be willing to buy it.
The amount you can earn varies based on your trading hours, the number of customers you can attract, and the footfall in the area. However, a successful food truck can earn up to $120,000 a year if it’s popular in the area where it is parked.
To help potential food truck owners figure out how much they can expect to make, let’s examine your potential startup costs as a food truck owner:
- Getting a truck. Used food trucks: These trucks have already been converted to mobile kitchens or they were purpose-built for mobile food prep.
Without further ado, here is why food trucks can be a profitable venture:
- Lower initial investment compared to brick-and-mortar stores.
- Mobility provides flexibility in location.
- Exposure to different markets at events like weekend markets, office areas, music festivals, and sporting events.
- Growth potential and the possibility to scale up.
- Diverse income streams through food delivery services, specials, catering, and customer loyalty programs.
To increase your chances of a successful food truck, reduce costs, partner with delivery services, offer specials and catering, and design customer loyalty programs.
On average, a food truck in a larger city or metro area can make anywhere from $20,000 to $50,000 per month in sales, while those in smaller cities and rural towns tend to earn between $5,000 to $16,000 per month.
Initial costs for a food truck include:
- Purchasing or leasing the vehicle: Used trucks converted for cooking cost $20,000 to $40,000, while new custom food trucks average $100,000 to $150,000.
- Additional startup costs (equipment, inventory, licensing, etc.): add $20,000 to $60,000 more.
- Total launch expenses: plan for $50,000 to $200,000.
Once running, overhead costs for a food truck are generally lower compared to a restaurant.
Food trucks also offer the advantage of mobility to change locations and test new markets, making them an attractive option for chefs, entrepreneurs, and aspiring restaurateurs. However, consider competition, regulations, operating costs, and your commitment level before investing. Conducting market research and crafting a solid business plan is crucial. While success isn’t guaranteed, food trucks can provide an opportunity to follow culinary dreams with lower risk than opening a full-scale restaurant.