Ever considering to start a food truck business? A food truck business is definitely a convenient business option. Using your food truck, you can sell food practically anywhere you want. Also, you don’t need to own a restaurant or even paying a building rent. You can focus more on production costs and probably consider some additional costs and risks that are not much higher than a restaurant business. However, before you start it is always better to figure out how much does a food truck cost first.
Choosing a food truck might looks easy, but it’s probably not as simple as you think. You’ll need to decide whether you want to buy a brand-new food truck, or maybe purchasing a cheaper used truck. Or, you might consider to rent a food truck instead. Each option have their own benefits and disadvantages. Figuring out how much does it cost to start a food truck will help you build a robust plan for your business. Read our guide below.
How Much Does a Food Truck Cost?
So, you might wonder how much does a food truck cost. You might consider to buy a brand-new food truck for your business. Or, maybe you even consider purchasing a used truck instead, which by all means is much cheaper than buying a new one. Below is a quick overview of how much does it cost to buy a food truck.
- If you’re a bit low on budget and want to avoid loan, purchasing a used food truck might be a good idea. A used food truck is obviously much cheaper than a newer one. You can buy a used food truck with price ranges from $50,000 – $100,000. If you want to install a kitchen inside your food truck, you’ll have to prepare additional budget from $50,000.
- If you don’t mind about a used food truck but concern more about the kitchen, you might want to purchase a used truck that comes with a new kitchen. It costs slightly more expensive than a used food truck. However, the new kitchen guarantees more productivity and safety. You might want to prepare a budget for about $75,000 – $100,000.
- Purchasing a used food truck might sound cheaper. But some mechanical problems might arise and cost you more money. A brand-new food truck might be more expensive, but you don’t need to worry about any mechanical or functional problems down the road. You can also take a loan to help you with the payment. A brand-new food truck might cost you about $100,000 – $175,000.
The prices above is set before the 2020 pandemic occurred. With disruptions in food equipment supply chain, there’s a huge probability that a food truck’s price today, whether it’s new or a used one have undergone some changes. We predict that the unit price might goes up since the materials used to build a food truck might be scarce or are sold in high prices. To know how much does it cost to start a food truck these days, it’s always better to check recent news.
Renting a Food Truck
Purchasing a food truck is a huge investment. You might feel unsure to pour that much money to buy a food truck. However, you can opt to rent a food truck instead. You can rent a food truck and pay the rental price per month. While it looks cheaper than buying one, renting a food truck might cost you a lot more money in the long run. However, renting a food truck might be the best option, until you can save money to buy one yourself. How much does it cost to rent a food truck? Well, you can expect a price between $20,000 – $30,000 per month. With that budget, you can rent a food truck for at least 6 months or longer.
On the other hand, you might consider to rent a food truck for longer term. For a long-term food truck rental, the price might be different than the shorter term one. There’s also a possibility that the price might be more expensive. However, that’s not a guarantee. If you’re wondering on how much does a food truck cost to rent in a long term, you might want to check it with the rental company in your city.
Also, if you’re planning to rent a food truck and also wondering how much does it cost to rent a food truck, you might want to consider what kind of a food truck you’re going to use. The rental price actually varies depending on the truck’s type and the lease’s length. Some companies might even willing to give you special price for a longer-term rental. Knowing how much does a food truck cost to rent might be helpful to give you more alternatives other than buying your own food truck.
Other Things You Need to Consider Before Buying a Food Truck
A food truck is one of the main element in the business. So, it’s only obvious that you put extra focus on how much does it cost to buy a food truck. Afterall, that will be your biggest investment. However, building a food truck business needs something more than a food truck. Take it from Matt Cohen, a CEO and also founder of Off the Grid. Off the Grid is a growing network of mobile food trucks famous among street food lovers who often attend weekly markets through the Bay Area. To get the food truck up and running, below are some essential things with its estimated cost you need to prepare:
- A business plan
- A food truck (estimated cost: $50,000 – $200,000)
- A commercial kitchen (estimated cost: $20 – $30 per person/hour)
- Truck commissary (estimated cost: $500 – $1,500 per truck/month, depending on the service’s availability)
- Health Permit (Estimated cost: $800 – $5,000/permit)
- Route plan
- Staffs (Estimated cost: Might differs depending on the region)
- Menu (Estimated cost: 25 – 33% food cost in general)
- Social media & marketing (Estimated cost: $50 – $50,000 used to build a website and marketing support).
The most important thing about building a food truck business is a good sense of humor and communicating skill. Not only you will have to figure out how much does a food truck cost, be sure to be able to engage with your customers. That way, you can keep your food truck dream running!